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☆ Lightning Round: I'm not a big fan of the airline stocks, says Jim Cramer
▼ + stars: | 2024-01-19 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: I'm not a big fan of the airline stocks, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Invesco Mortgage Capital, Stanley Black and Decker, Catalyst and American Airlines.

Persons: I'm, Jim Cramer, Stanley Black, Decker Organizations: Invesco Mortgage Capital, Catalyst, American Airlines

☆ Rallying AMD is approaching key levels. What's next for the stock, according to chart analysts
▼ + stars: | 2024-01-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Some closely watched momentum indicators and a bullish overall chart suggest popular AI chipmaker Advanced Micro Devices is headed for new highs in the near future. The stock hit a new 52-week high and now sits 3.6% below the stock's all-time high of $164.46 set in the fourth quarter of 2021. Many chart analysts expect the stock to blow past that level in the near future. "Anytime a stock makes a new all-time high, it tells me something special is taking place with the company," said JC O'Hara, chief technical strategist at Roth Capital Partners. "Investors should be positioned in these risk stocks that typically outperform in a rising market environment and AMD checks that box," he said.

Persons: Dan Wantrobski, Janney Montgomery Scott, JC O'Hara, Wantrobski, Capital's Todd Gordon, Oppenheimer's Ari Wald Organizations: Devices, AMD, Roth Capital Partners, Nasdaq

☆ Semiconductor stocks surged in 2023. Why investors may want to brace for volatility in the new year
▼ + stars: | 2024-01-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Prepare for volatility in the semiconductor industry after an exuberant 2023 that saw prices surge and left many companies with lofty valuations. "Higher valuations in my experience lead to higher investor expectations and those higher investor expectations typically lead to higher volatility," said Michael Brenner of FBB Capital Partners . Computer chip stocks surged in 2023, largely due to enthusiasm surrounding the use of artificial intelligence and the need for advanced semiconductors. Bracing for volatility Semiconductor companies have a lot to prove in 2024 after wowing investors last year. KeyBanc Capital Markets' John Vinh said in a recent note to clients that auto industry semiconductor demand in the new year will benefit Analog Devices , NXP Semiconductors and On Semiconductor .

Persons: Michael Brenner, Capital's Paul Schatz, Sylvia Jablonski, Robert Pavlik, Brenner, FBB, Jensen Huang, Nvidia aren't, Schatz, Jablonski, Intel's, Ross Seymore, Seymore, Brenner isn't, John Vinh, bode, Vinh, Mizuho's Vijay Rakesh, — CNBC's Michael Bloom Organizations: FBB Capital Partners, iShares Semiconductor, Dakota Wealth, Nvidia, Broadcom, Micron Technology, Devices, Deutsche, Marvell Technology, Taiwan Semiconductor, Infineon, EV, KeyBanc, NXP Semiconductors, Semiconductor, Qualcomm, Lam Research

☆ Crypto’s 2023 was marred by fraud and scandal. It was its best year ever
▼ + stars: | 2023-12-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. Bitcoin, the crypto’s bellwether asset, is up 160% for the year. “It was the year of crypto’s resiliency,” Kyla Curley, a crypto expert and partner at global advisory StoneTurn, tells CNN. “Fraud is fraud,” Curley says, “Regardless of the technology or the industry … you cannot stop human nature. Adding to that bullish sentiment: the bitcoin halving, or, more menacingly, “the halvening.”While it’s often a buy-the-hype-sell-the-news kind of event, the halving does tend to push bitcoin higher.

Persons: New York CNN —, “, ”, Sam Bankman, Zhao, Alex Mashinsky, Heather “ Razzlekhan ” Morgan, Ilya Lichtenstein, ‘, Bonnie, Clyde ’, Bitcoin, crypto’s, ” Kyla Curley, ” Curley, Changpeng Zhao, Eduardo Munoz, Costas Baltas, Faryar Shirzad, bitcoin, ” Antoni Trenchev, ” Trenchev, Warren Buffett, Anthony Scaramucci, “ Bitcoin Organizations: New, New York CNN, New York CNN — Crypto’s, CNN, Department of Justice, crypto’s, grifters, Bitcoiners, SkyBridge Locations: New York, SBF, Bitcoin

☆ GSK CEO says RSV vaccine revenue to top 1 bln pounds in first year
▼ + stars: | 2023-11-30 | by ( Michele Gershberg | ) www.reuters.com time to read: +4 min

GSK had previously forecast 2023 sales for Arexvy between 900 million pounds and 1 billion pounds ($1.26 billion) following a strong U.S. launch. "We’re delighted with the start of our RSV vaccine," Walmsley said in a Reuters Newsmaker interview. The U.S. Food and Drug Administration (FDA) approved Arexvy for adults aged 60 years or older in May and GSK launched the vaccine in the U.S. later in the year. GSK made close to two-thirds of RSV doses given in the United States since early September, according to IQVIA data earlier this month. On Tuesday, rival Pfizer (PFE.N) said it was disappointed in the performance of its RSV shot Abrysvo compared with GSK.

Persons: Walmsley, GSK's, Emma Walmsley, We’re, David Denton, AstraZeneca's, commercialise Johnson, Ludwig Burger, Michael Erman, Josephine Mason, Kirsten Donovan, Elaine Hardcastle Organizations: GSK, Reuters, U.S . Food, Drug Administration, Pfizer, U.S, Thomson Locations: British, U.S, Europe, Japan, United States

☆ There will be a 'possible deflationary shock' in 2024, says Skybridge’s Anthony Scaramucci
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere will be a 'possible deflationary shock' in 2024, says Skybridge’s Anthony ScaramucciAnthony Scaramucci, Skybridge Capital founder, says 2023 was a recovery year for Skybridge.

Persons: Skybridge’s Anthony Scaramucci Anthony Scaramucci Organizations: Skybridge Capital, Skybridge

☆ Chinese consumer stocks are undervalued, CIO says
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese consumer stocks are undervalued, CIO saysPinduoduo's rally shows Chinese consumer stocks are undervalued due to "China effect" fears, says Crossbridge Capital Group CIO Manish Singh.

Persons: Manish Singh Locations: China

☆ JPMorgan says its UK bank Chase may break even around 2025
▼ + stars: | 2023-11-28 | by ( Nupur Anand | Thomson Reuters | Nupur Anand Is A U.S. Banking Correspondent At Reuters In New York. She Focuses On Jpmorgan Chase | ) www.reuters.com time to read: +1 min

Daniel Pinto, President and chief operating officer of JPMorgan Chase & Co, speaks during the Global Financial Leaders' Investment Summit in Hong Kong, China November 2, 2022. REUTERS/Tyrone Siu Acquire Licensing RightsNEW YORK, Nov 28 (Reuters) - JPMorgan Chase (JPM.N) President and Chief Operating Officer Daniel Pinto said he expects its Chase UK consumer bank to break even in the next 12 to 18 months. The largest U.S. lender opened the digital bank in the UK in 2021, its first foray into international retail business. Chase UK is doing better than expected, Pinto said, and the company plans to grow in other global consumer markets over time. Brazilian digital bank C6, in which JPMorgan has 46% stake, is expected to break even "very soon," Pinto said.

Persons: Daniel Pinto, Tyrone Siu, JPMorgan Chase, Pinto, Jamie Dimon, Nupur Anand, Lananh Nguyen, Sharon Singleton Organizations: JPMorgan Chase &, Global Financial, Investment, REUTERS, Tyrone, JPMorgan, Chase, Financial, Thomson Locations: Hong Kong, China, United Kingdom, U.S, Basel, New York

☆ Exclusive: China govt advisers call for steady growth target in 2024, more stimulus
▼ + stars: | 2023-11-22 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

Five of the seven advisers who spoke with Reuters said they favoured a target of around 5%, matching this year's goal. The proposals will be made next month at the ruling Communist Party's annual Central Economic Work Conference that discusses policy plans and the outlook for the world's second-largest economy. "We need to adopt expansionary fiscal and monetary policy to stimulate aggregate demand," Yu Yongding, a government economist who advocates for a growth target of roughly 5%, told Reuters. "We are stepping up fiscal policy support," said another adviser, to make the "difficult" 2024 target "achievable." The stuttering post-COVID recovery has prompted many analysts to call for structural reforms that tilt the drivers of economic growth away from property and infrastructure investment and towards household consumption and market-allocation of resources.

Persons: Yu Yongding, Yu, Guan Tao, Xi Jinping, Kevin Yao, Marius Zaharia Organizations: Reuters, Communist, Economic Work Conference, BOC International, State Administration of Foreign Exchange, Thomson Locations: China, BEIJING, Beijing, outflows, Japan

☆ Low Platinum Prices Show How Banking on Miners Could Threaten the Energy Transition
▼ + stars: | 2023-11-15 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

Platinum is used to make the electrolyzers that produce hydrogen and the sharp down cycle in South Africa’s platinum mining sector demonstrates the risk that low prices and lack of investment could slow the energy transition. Prices for other commodities have also fallen, while miners have been complaining of rising costs and seem to be limiting their capital expenditures. Photo: michele spatari/Agence France-Presse/Getty ImagesFor the mining sector, cyclical returns are nothing new. Ray said many South African PGM miners are now selling their output at close to the cost of production, eating away at profitability. “To the extent that PGM prices stay at current levels, I would not be surprised to see more supply-side reaction,” Ray said.

Persons: Waldo Swiegers, ”, Tom Price, michele spatari, We’ve, ” Emma Townshend, ” Townshend, Raj Ray, Ray, ” Ray, ” Implats’s Townshend, Implats, Yusuf Khan Organizations: Bloomberg, Liberum, Agence France, PGM, Times, Business, BMO Capital Markets, Metals Locations: Sibanye, Africa, Johannesburg, Stillwater, South, South Africa, Marikana, U.S, China, Europe, Implats

☆ ValueAct builds stake in Disney, adds drama at home of Mickey Mouse -sources
▼ + stars: | 2023-11-15 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. ValueAct and Disney declined to comment. Disney's stock price could trade between $120 and $190 a share, far above its current $94.19 price, ValueAct has suggested, the people said. Unlike other activist investors who noisily push for change through public presentations, ValueAct prefers to work quietly behind the scenes. In January, ValueAct CEO Mason Morfit was invited onto Salesforce's (CRM.N) board at a time the company had at least five activist shareholders.

Persons: Brendan McDermid, ValueAct, Mickey, Nelson Peltz's, Peltz, Shaw, Trian, Mason Morfit, Svea Herbst, Bayliss, Dawn Chmielewski, Arsheeya, Arun Koyyur, David Gregorio Our Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, ValueAct, Walt Disney, Disney, 13D Monitor, Pixar, Star Wars, Marvel, Fund Management, Management, Capital Partners, Microsoft, Svea, Thomson Locations: New York, U.S, San Francisco, Los Angeles, Bengaluru

☆ Lead Edge Capital talks about investing in China
▼ + stars: | 2023-11-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLead Edge Capital talks about investing in ChinaMitchell Green, partner and founder of Lead Edge Capital, discusses China's tech sector, regulations and international outlook.

Persons: China Mitchell Green Organizations: Capital, Lead Edge Locations: China Mitchell

☆ Sam Bankman-Fried built crypto empire on 'pyramid of deceit,' prosecutors say in closing
▼ + stars: | 2023-11-01 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

FTX Founder Sam Bankman-Fried leaves Manhattan Federal Court after a court appearance on June 15, 2023 in New York City. The main thing the jury has to decide, Roos said, is whether Bankman-Fried knew that taking the money was wrong. "It was uncomfortable to hear," Roos said, adding that Bankman-Fried said "I can't recall" over 140 times during questioning by the government. Roos said Bankman-Fried is the one who gave special privileges to Alameda, which he started before founding FTX, allowing it to siphon customer money. In referencing the Super Bowl picture with Katy Perry and others, Roos called Bankman-Fried a "celebrity chaser."

Persons: Sam Bankman, Michael M, they've, FTX, Nicolas Roos, Roos, there's, Fried, Caroline Ellison, Bankman, Gary Wang, Danielle Sassoon, Jane Rosenberg, Mark Cohen, he'd, Judge Lewis Kaplan, Ellison, didn't, Singh, Katy Perry, —, Dawn Giel Organizations: Santiago, Getty, Prosecutors, Stanford, Massachusetts Institute of Technology, Alameda Research, Reuters, Miami Heat, MIT, FTX, Skybridge Locations: Manhattan, New York City, Alameda, U.S, California, Hong Kong, Roos's, Bahamas, Bankman

☆ Regulator imposes trading halt on Canada hedge fund after founder's death
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The regulator said it was informed on Saturday that Christopher Callahan, the sole director, officer and shareholder of Traynor, was dead. His death leaves Traynor without a director or officer in charge of the firm. "As a result, the three dealers have potential losses totalling approximately C$85 million ($61.27 million) to C$95 million," the regulator added, without naming the dealers. The firm and one of Callahan's colleagues listed on its website did not immediately respond to requests for comment. A Toronto police spokesperson said Callahan's death was not considered suspicious and they were not investigating.

Persons: Traynor, Christopher Callahan, Nia Williams, Jamie Freed Organizations: The Ontario Securities Commission, Inc, OSC, CIBC, Markets Inc, Canadian Imperial Bank of Commerce, TR1, Thomson Locations: Toronto, British Columbia

Customers might assume that nonunion automakers, like Toyota, Tesla or Hyundai-Kia, will now be able to price their vehicles well below what the Detroit automakers can. “When the dust settles from this UAW debacle, the Detroit auto stalwarts find themselves with a bigger cost profile with competition increasing," said Dan Ives, an analyst at Wedbush. That means that competition for buyers is intensifying as pent-up demand from the pandemic wanes, making it difficult for any automaker to raise prices. But if the Detroit companies report lower income, Wall Street will register its disappointment, and stock prices could fall. “You either raise your labor costs to meet what the UAW is getting or you risk the unionization drive.”

Persons: Stellantis, ”, Jonathan Smoke, pare, Dan Ives, Natalie Knight, Ram, Knight, Smoke, Shawn Fain, Fain, Art Wheaton, wouldn’t, Wheaton, Tesla, ” Wheaton Organizations: DETROIT, United Auto Workers, Detroit’s, General Motors, Ford, Toyota, Hyundai, Kia, Detroit, GM, Cox Automotive, UAW, Chrysler, Jeep, Cox, automakers, Detroit automakers, Cornell University, U.S Locations: United States, U.S, Stellantis, Detroit

☆ Why the Fed could be wrong — again — on its latest interest rate call
▼ + stars: | 2023-10-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

"The Fed has never kept the target fed funds rate at peak levels for longer than nine months after a tightening cycle," Arone said. Nine months from now, at least based on history, the target fed funds rate is likely to be lower, not higher." He also sees lower rates ahead and pointed out the history of what happens with tight monetary policy. "The market is eager for lower rates or rate cuts. If the Fed has to rate cuts, it's likely because we're in recession or something in the capital markets is broken," he said.

Persons: Jerome Powell, aren't, Michael Arone, Powell, JPMorgan Chase, Jamie Dimon, Arone, Barry Sternlicht, —, I'm, They've, Thomas Ryan, Nick Elfner, Elfner, Breckinridge, Street's Arone Organizations: Federal, U.S, SPDR, State Street Global Advisors, Fed, JPMorgan, Starwood Capital, Future Investment Initiative, Capital Economics, Breckinridge Capital Advisors Locations: United States, Saudi Arabia, U.S, Breckinridge

☆ Goldman says dividend growth has been resilient and these stocks are the best at returning cash
▼ + stars: | 2023-10-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

He forecasts stable dividend growth of 5% this year and 4% in 2024. Chevron has a dividend yield of 3.6% in 2023, with a dividend compound annual growth rate of 5% to 2025. Its dividend compound annual growth rate of 8% to 2025 means the company's payout to its investors will continue to grow. The firm also has the highest dividend compound annual growth rate of 29% on the list. Investors can expect their cash returns to grow further through 2025, with a dividend compound annual growth rate of 14%.

Persons: Goldman Sachs, David Kostin, Kostin, Goldman, Hess, Blackstone, — CNBC's Michael Bloom Organizations: Devon Energy, Chevron, Wall Street, CNBC, Blackstone, Capri Holdings Locations: capex, Guyana, Delaware, Devon, Israel

☆ Goldman Sachs veteran to become CEO of asset-management firm P10, Wall Street Journal reports
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

Oct 22 (Reuters) - Goldman Sachs veteran Luke Sarsfield is set to become chief executive of asset manager P10 (PX.N), the Wall Street Journal reported on Sunday. P10, which is a multi-asset class private market solutions provider in the alternative asset management industry, plans to announce the move on Monday, the report said citing people familiar with the matter. Sarsfield worked with Goldman Sachs for over 23 years, WSJ said. He was appointed as the global co-head of its $2.47 trillion asset-management business early last year. Reporting by Shivani Tanna in Bengaluru; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Luke Sarsfield, Sarsfield, Shivani Tanna, Josie Kao Organizations: Wall Street, Dallas, RCP Advisors, TrueBridge Capital Partners, Thomson Locations: Bengaluru

☆ GM delays EV truck production by a year at Michigan plant
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: 1 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsDETROIT, Oct 17 (Reuters) - General Motors Co (GM.N) said on Tuesday it will delay production of the electric pickup trucks at its Orion, Michigan, plant by a year to better align with "evolving EV demand." The plant had originally been scheduled to begin production of the electric Chevrolet Silverado and GMC Sierra in late 2024, but the company said the plan is now to start it in late 2025. It said the change was being made "to better manage capital investment while aligning with evolving EV demand." Reporting by Ben Klayman in Detroit, Editing by Franklin PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Ben Klayman, Franklin Paul Organizations: General Motors, REUTERS, Rights, General Motors Co, Silverado, GMC Sierra, Franklin Paul Our, Thomson Locations: Detroit , Michigan, U.S, Orion, Michigan, Detroit

☆ Starboard says Rupert Murdoch's News Corp should break up
▼ + stars: | 2023-10-17 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Jeff Smith, CEO and chief investment officer of Starboard Value, L.P., speaks at a panel discussion at the SALT conference in Las Vegas May 14, 2014. Smith's remarks at the 13D Monitor Active Passive Investor Summit came after Reuters revealed last week that Starboard had become a News Corp shareholder, a prelude to a potential shake-up at Murdoch's media empire. "We believe separate news and real estate assets could help unlock $7 billion or more in value," he added. Starboard, which has pushed for changes at companies ranging from Salesforce (CRM.N) to Darden Restaurants <DRI.N,> would struggle to shake up News Corp without Murdoch's consent. If News Corp separates its real estate assets, shareholders would benefit, Smith said.

Persons: Jeff Smith, Rick Wilking, Rupert, Smith's, Smith, REA, Murdoch, Lachlan, Svea Herbst, Bayliss, Sharon Singleton, David Gregorio Our Organizations: SkyBridge, Rupert Murdoch's News Corp, 13D, Investor, Reuters, News Corp, Dow Jones, Street, Darden, Corp, Svea, Thomson Locations: Las Vegas

☆ Marc Andreessen is getting raked over the coals for calling social responsibility the 'enemy'
▼ + stars: | 2023-10-17 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

VC Marc Andreessen wrote a lengthy missive this week, titled "The Techno-Optimist Manifesto." AdvertisementAdvertisementIt wouldn't be a Marc Andreessen essay if the internet didn't lose its mind over it. Rather, technology, he wrote, can solve for "any material problem" under the sun and herald a new era of "abundance for everyone." The backlash to Andreessen's essay was swift. He runs one of the biggest venture capital firms by assets and perceived importance.

Persons: Marc Andreessen, —, Kara Swisher, Andreessen, Ben Collins, Andreessen's missive, Dorothea Baur, Cameron Moll, he's, Gary Marcus, Marcus, what's, Aravind Srinivas, A16z, Collins, Andreessen Horowitz, Del, Johnson Organizations: Service, Securities and Exchange Commission, Facebook, Backstage Capital, Silicon Valley Bank, Venture Locations: Silicon Valley, Del Johnson, Silicon

The move is the latest sign that electric vehicle production and demand may not be as strong as forecast. GM had been set to begin production of the electric Chevrolet Silverado and GMC Sierra in late 2024 at the suburban Detroit plant. Ford said in July it would slow the ramp-up of electric vehicle production and forecast a full-year loss of $4.5 billion on its EV unit. GM still plans a significant boost in EV production in 2024 including adding a new shift at a Detroit-Hamtramck factory that is currently building EV SUVs and pickup trucks. General Motors said on Tuesday it still plans to end production of the Chevrolet Bolt EV at the end of 2023.

Persons: Rebecca Cook, Ford, General Motors, Ben Klayman, David Shepardson, Will Dunham, Franklin Paul, Chizu Organizations: General Motors, REUTERS, Rights, General Motors Co, GM, Silverado, GMC Sierra, Reuters, United Auto Workers, Detroit -, GMC Sierra EV, General, Chevrolet, Thomson Locations: Detroit , Michigan, U.S, Orion, Detroit, Ohio, Detroit - Hamtramck, United States, Washington

☆ GM to delay all-electric truck production at Michigan plant until late-2025
▼ + stars: | 2023-10-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. A GM spokesman did not immediately respond to a request for comment regarding the company's EV production target. Alongside the Silverado EV, Factory Zero is currently building the GMC Hummer EV pickup and SUV and Cruise Origin shuttle. The plant was expected to be its second U.S. assembly plant to exclusively produce EVs. Roughly 1,000 hourly workers at Orion Assembly will have the option to transfer to other Michigan facilities until the retooling at Orion Assembly is completed.

Persons: Kimberly Fuhr, Motors, GM's Organizations: UAW Local, Bolt, General Motors Orion Assembly, DETROIT –, GM, Orion Assembly, Motors, Orion, United Auto Workers, UAW, Chevrolet Silverado, GMC, Silverado, Silverado EV, CNBC Locations: Orion Township , Michigan, DETROIT, Michigan, Detroit, North, Sierra

☆ GM postpones electric truck production
▼ + stars: | 2023-10-17 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —General Motors is putting off adding a second factory for production of its electric pickups until late 2025, the automaker announced Tuesday. But GM had planned to start producing the electric pickups at an additional Michigan factory, Orion Assembly just north of Detroit, as well. Instead, when those electric vehicles go out of production at the end of this year, the factory will not shift quickly to making the trucks. General MotorsGM’s decision will result in fewer electric pickups being built next year but the automaker declined to discuss the extent of a reduction. GM had announced, in 2022, that it would spend $4 billion to convert Orion Assembly to make the electric trucks.

Persons: Bolt, Ford, Joseph Yoon, GM Organizations: CNN —, Motors, Silverado, Hamtramck Assembly, GMC Hummer, GMC Sierra EV, GM, Orion Assembly, Chevrolet Bolt, United Auto Workers, Orion, Chevrolet Silverado EV, General Motors, UAW, Ford, ”, Edmunds.com Locations: Detroit, Michigan

REUTERS/Jane Rosenberg Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's father and brother, as well as Donald Trump's former spokesman Anthony Scaramucci, are among possible witnesses at the cryptocurrency exchange founder's fraud trial, according to a list read by a prosecutor in court on Tuesday. There is no guarantee that Scaramucci, Bankman-Fried's father Joseph Bankman or his brother Gabriel Bankman-Fried will testify during the trial, which is expected to last six weeks and kicked off on Tuesday with jury selection. Prosecutor Danielle Sassoon read the list of dozens of names - which included both proposed prosecution and defense witnesses - to see if any prospective jurors knew them. Scaramucci's alternative investment firm SkyBridge Capital once owned a stake in FTX, Bankman-Fried's cryptocurrency exchange which declared bankruptcy in November 2022 amid a flurry of customer withdrawals. The now-bankrupt fund is fully owned by Bankman-Fried and former FTX executive Gary Wang, court filings show.

Persons: Sam Bankman, Fried, Christian Everdell, Jane Rosenberg, Donald Trump's, Anthony Scaramucci, Joseph Bankman, Gabriel Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Bankman, Kaplan, Gary Wang, Nicolas Roos, Caroline Ellison, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: Federal Court, REUTERS, SkyBridge, Alameda Research, District, Insight Partners, Bankman, Manhattan U.S, Thomson Locations: FTX, New York City, U.S, Alameda, Alameda ., New York

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