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An Embraer E195-E2 Profit Hunter aircraft is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier//File PhotoSAO PAULO, Aug 14 (Reuters) - Brazilian planemaker Embraer (EMBR3.SA) on Monday shot past market estimates for second-quarter results, with its chief executive voicing optimism about upcoming quarters for the company. "Despite the supply chain challenges, we are very optimistic about this year after a good Q2," Gomes Neto said. "We're working hard so next year we can better spread out production and deliveries throughout the year, which will further improve the company's performance," Gomes Neto added. The planemaker reported a 25% increase in second quarter adjusted net profit to $57.9 million, more than double the $24.3 million forecast by analysts polled by Refinitiv.

Persons: Benoit Tessier, Francisco Gomes Neto, Gomes Neto, BTG Pactual, Gabriel Araujo, Jason Neely, Barbara Lewis, Sharon Singleton Organizations: Embraer, Hunter, International Paris Air, Le, REUTERS, SAO PAULO, EMBR3, Airbus, Boeing, Refinitiv, JPMorgan, Thomson Locations: Le Bourget, Paris, France

REUTERS/Phil NobleAug 14 (Reuters) - Ford Motor (F.N) on Monday named former Apple (AAPL.O) executive Peter Stern as the president of its newly formed Ford Integrated Services unit to help build new high-margin digital and subscription services. Stern, who previously oversaw Apple TV+, iCloud and Apple News+, will report to Ford CEO Jim Farley. In his new role, Stern will focus on integrating hardware, software and services across the company's Ford Blue, Model e and Ford Pro units. Ford now has more than 550,000 paid software and services subscribers, more than 80% of them through the Ford Pro commercial unit. "The basis for differentiation is shifting from the vehicles alone to the integration of hardware, software and services," Stern said.

Persons: Phil Noble, Peter Stern, Stern, Jim Farley, Ford, Doug Field, Michael Abbott, Farley, Ford's, We're, Nathan Gomes, Paul Lienert, Krishna Chandra Eluri, Sharon Singleton, Jonathan Oatis Organizations: Ford, REUTERS, Monday, Apple, Ford Integrated Services, Ford Pro, General, Thomson Locations: Liverpool, Britain, United States, Bengaluru, Detroit

☆ Europe Is Embarking on a Mining Renaissance. Winning Over Locals Is Proving a Challenge.
▼ + stars: | 2023-08-10 | by ( Yusuf Khan | ) www.wsj.com time to read: +12 min

“It’s definitely a [mining] renaissance,” said Rebecca Campbell, global mining and metals lead at law firm White & Case. “We’re trying to foster a permitting landscape that is both efficient and responsible.”In Europe, the mining renaissance comes after years of nearly no new mining activity on the continent. Left: A layer of spodumene within the host rock that Savannah Resources intends to mine. Savannah Resources, which has set up two offices in the municipality, has said it would strictly avoid that and instead build reservoirs to store rain water. That view is echoed by Savannah Resources.

Persons: COVAS, Portugal —, Barroso, BEL, mina ”, ”, Nelson Gomes, Covas, Alex Gorman, “, Nelson, YUSUF KHAN, “ It’s, Rebecca Campbell, ” “, Jayni Hein, Hein, “ We’re, Peel Hunt’s Gorman, Dale Ferguson, Gomes, Jessica Polfjärd, Polfjärd, Ana Fontoura Gouveia, Fontoura, ” Fontoura, Yusuf Khan Organizations: COVAS DO BARROSO, Associação, Peel, Vulcan Energy Resources, Adriatic Metals, White, Covington, Burling, Environmental, Council, Savannah Resources, Sustainable Business, Sweden’s Moderate Party, Serra Locations: Portugal, Porto, Boticas, Covas, It’s, Europe, Germany, Sweden, Bosnia, Finland, Greece, U.S, Savannah, London, spodumene, Serbia, China, yusuf.khan

☆ Magna lifts annual forecasts as results beat estimates on parts demand
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Magna logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay/File PhotoAug 4 (Reuters) - Canada's Magna International (MG.TO) on Friday raised its full-year profit and sales outlook after its quarterly results beat estimates on solid demand for parts, as automakers ramp up production. Magna expects 2023 revenue between $41.90 billion and $43.50 billion, compared with its previous forecast of $40.20 billion to $41.80 billion. The company raised its adjusted annual income outlook to between $1.40 billion and $1.60 billion, from $1.30 billion to $1.50 billion forecast earlier. Its second-quarter revenue rose 17% to $10.98 billion, topping estimates of $10.30 billion.

Persons: Wolfgang Rattay, Seetarama Kotagiri, Garrett Nelson, Nathan Gomes, Pratyush Thakur, Vinay Dwivedi Organizations: Munich, REUTERS, United Auto Workers, UAW, Ford Motor, Motors, Chrysler, Detroit, Magna, Thomson Locations: Munich, Germany, Europe, North America, Bengaluru

☆ American Airlines says in talks with Airbus, Boeing over narrowbody jet order
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

An American Airlines aircraft flies past JetBlue and United Express aircraft as it lands at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. REUTERS/Joshua Roberts/File PhotoAug 2 (Reuters) - American Airlines (AAL.O) said on Wednesday that it is in talks with planemakers Airbus (AIR.PA) and Boeing (BA.N) over a new narrowbody jet order, at a time when airlines rush to order more aircraft amid a travel boom. Bloomberg News earlier reported that the airline was in talks with the companies to order at least 100 jets, citing people familiar with the matter. "We are talking to Boeing and Airbus about our narrowbody aircraft needs for the latter half of this decade and beyond," American said in a statement. Airbus, when contacted by Reuters, said "we have no comment on our confidential commercial talks, which may or may not be happening."

Persons: Joshua Roberts, Max, Airbus's, Nathan Gomes, Tim Hepher, David Shepardson, Milla Nissi Organizations: American Airlines, JetBlue, United Express, Reagan National Airport, REUTERS, Airbus, Boeing, Bloomberg, Reuters, Thomson Locations: Arlington , Virginia, U.S, Bengaluru, Paris, Washington ,

☆ Rockwell Automation misses quarterly forecasts on shipping delays
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Rockwell Automation (ROK.N) on Tuesday reported third-quarter sales and profit below expectations after shipping delays impacted its ability to get goods to customers. "This transition impacted the timing of shipments within the second half of the fiscal year," he added. Rockwell Automation earned $3.01 per share on an adjusted basis in the third quarter through June, missing analysts' average estimate of $3.17 per share, based on Refinitiv data. Overall, its sales rose about 14% to $2.24 billion, also below estimates of about $2.3 billion. Reporting by Nathan Gomes in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

Persons: Blake Moret, Nathan Gomes, Milla Nissi Organizations: Rockwell Automation, Thomson Locations: Bengaluru

☆ MLB roundup: Bullpen guides Reds past Cubs
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +7 min

Yan Gomes had three hits with an RBI for the Cubs, who have lost two straight after winning eight in a row. Marcus Stroman (10-8) allowed six runs on six hits in three innings. Orioles 4, Blue Jays 2Gunnar Henderson hit a solo homer, Kyle Gibson pitched six strong innings and visiting Baltimore defeated Toronto. Walker (12-4) allowed two runs on six hits and has won eight of his past nine decisions. France (7-3) allowed two runs on seven hits in seven innings for his ninth quality start in his past 10 outings.

Persons: Elly De La Cruz, Matt McLain, Joey Votto, Patrick Gorski, Christian, Will Benson, Luke Maile, Buck Farmer, Fernando Cruz, Alex Young, Lucas Sims, Ian Gibaut, Alexis Diaz, Christopher Morel's, Yan Gomes, Marcus Stroman, Gunnar Henderson, Kyle Gibson, Ryan Mountcastle, Gibson, Chris Bassitt, Bo Bichette, Tyler Glasnow, Brandon Lowe, Jhony Brito, Wander Franco, Isaac Paredes, Josh Lowe, Jake Bauers, Taijuan Walker, Walker, Johan Rojas, Bryson Stott lofted, Jorge Soler, Tanner Scott, Joey Meneses, Lane Thomas, Jordan Weems, Kyle Finnegan, Joey Wiemer, Christian Yelich, Elvis Peguero, Luis Rengifo, Randal Grichuk, Chad Wallach, Shohei Ohtani, Chase Silseth, Griffin Canning, Matt Olson bashed, Yordan Alvarez, Noah Syndergaard, Bo Naylor, Julio Rodriguez, Rafael Devers, Nick Pivetta, Pivetta, Ketel Marte, Geraldo Perdomo, Kevin Ginkel, Taylor Rogers, Emmanuel Rivera, Brandon Crawford, Ryan McMahon, Elehuris Montero, Brad Hand, San Diego's Trent Grisham, Juan Soto, Matthew Batten, Jake Cronenworth Organizations: Cincinnati Reds, Chicago Cubs, Wrigley, Cincinnati, Reds, National League Central, Chicago, Cubs, Orioles, Blue Jays, Baltimore, Toronto, Yankees, Tampa Bay, Rays, New York, Phillies, Marlins, Philadelphia, Miami, Nationals, Brewers, Washington, Milwaukee, Braves, Atlanta, Angels, National League, Astros, Houston, The Astros, Texas Rangers, American League West, Cleveland, Mariners, Red Sox, Cal Raleigh, Seattle, Boston, Raleigh, Diamondbacks, Giants, Arizona, San, National League West, Padres, Colorado, San Diego, The Rockies, Thomson Locations: Chicago , Illinois, USA, Christian Encarnacion, Canada, York, New York, New, Los Angeles, France, Cleveland, Boston, San Francisco, San, Denver

☆ MLB roundup: Giants' J.D. Davis belts walk-off HR
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +11 min

Rangers starter Martin Perez (8-4) gave up four runs on eight hits and three walks with a strikeout in 5 2/3 innings. Rockies starter Chris Flexen (0-5) had six walks, a hit batter and a run-scoring wild pitch in 3 2/3 innings. Toronto right-hander Alek Manoah struck out six and allowed one run, four hits and three walks in 4 1/3 innings. Starter Quinn Priester (2-1) allowed five runs and five hits in five-plus innings, with seven strikeouts and six walks. Patrick Corbin (7-11) allowed four runs on six hits and no walks while striking out two over 5 2/3 innings.

Persons: J.D, Davis, John Hefti, Camilo Doval, Justin Turner, Jansen, Sean Manaea, Ryan Walker, Tyler Rogers, Max Muncy, Joe Kelly, Emmet Sheehan, Evan Phillips, Luke Weaver, Elly De La Cruz, Yu Darvish, Seong Kim, Diego, Darvish, Luis Campuano, Gary Sanchez, Martin Perez, Ronald Acuna Jr, Acuna, Eddie Rosario, Julio Teheran, Bryce Elder, Brent Rooker, Zack Gelof, Seth Brown, Tyler Soderstrom, Ramon Laureano, Paul Blackburn, Chris Flexen, Hunter Brown, Yainer Diaz, Jose Abreu, Jose Altuve, Alex Bregman, Yordan Alvarez, Rene Pinto, Houston, Chas McCormick, Diaz, Jake Meyers, Taj Bradley, Alejandro Kirk, Santiago Espinal, Manoah, Taylor Ward, Ward, Reid Detmers, Riley Greene, Joey Wentz, Luis Arraez, Johnny Cueto, Mike Clevinger, Tim Anderson, Andrew Vaughn, Anderson, Logan Allen, Clevinger, Allen, Aaron Judge, Giancarlo Stanton, Kyle Higashioka, Isiah Kiner, Falefa, Clarke Schmidt, Tyler Wells, Bobby Witt Jr, Witt, Michael Massey's, Bailey Ober, Ian Happ, Yan Gomes, Louis, Jameson Taillon, Michael Fulmer, Mark Leiter Jr, Javier Assad, Daniel Palencia, Adam Wainwright, Endy Rodriguez, Liover Peguero, Alika Williams, Quinn Priester, David Bednar, Brandon Marsh, Jake Cave, Johan Rojas, Aaron Nola, Riley Adams, Max Scherzer, Dominic Smith, Joey Meneses, Stone Garrett, Patrick Corbin, Mark Vientos, Francisco Lindor, Tommy Pham, Francisco Alvarez, Carlos Carrasco, Dominic Canzone, Canzone, Scott McGough, Julio Rodriguez, Arizona's Kevin Ginkel, Tom Murphy, Corbin Carroll, Andres Munoz, Carroll Organizations: San Francisco Giants, Boston Red Sox, Oracle, Red Sox, Giants, Dodgers, Reds, Cincinnati, National League West, Padres, Rangers, Braves, Brewers, Atlanta, Milwaukee, Athletics, Rockies, Colorado, Oakland, Sunday, Astros, Rays, Houston, Tampa Bay, Blue Jays, Angels, Toronto, Los, Los Angeles ., Tigers, Marlins, Miami, Five Detroit, White Sox, Cleveland . Chicago, Chicago, Yankees, Orioles, Baltimore, Royals, Kansas City, Twins, Cubs, Cardinals, St, Pirates, Phillies, Pittsburgh, Philadelphia, Nationals, Mets, Washington, New, Texas Rangers, Diamondbacks, Mariners, Arizona, Seattle, Thomson Locations: San Francisco , California, USA, Angeles, Muncy, Texas, Milwaukee, Oakland, Denver, Los Angeles, Los Angeles . Toronto, Detroit, Miami, Chicago, New York, Kansas, Minnesota, Philadelphia, Phoenix, Arizona

☆ MLB roundup: Shohei Ohtani shines as Angels sweep Tigers
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +4 min

[1/4] Jul 27, 2023; Detroit, Michigan, USA; Los Angeles Angels starting pitcher Shohei Ohtani (17) celebrates with teammates after he hits a home run in the fourth inning against the Detroit Tigers at Comerica Park. Mike Moustakas scored a pair of runs for Los Angeles, which has won seven of its last eight games. Angels 11, Tigers 4 (Game 2)Shohei Ohtani hit a pair of homers and drove in three runs before departing with cramping as Los Angeles completed a doubleheader sweep with a victory over host Detroit. Ohtani hit his major league leading 37th and 38th home runs but grabbed his side after the latter homer. Ohtani tossed the first complete game shutout of his career in the Angels' 6-0 victory earlier in the day.

Persons: Shohei Ohtani, Rick Osentoski, Ohtani, Taylor Ward, Kerry Carpenter, Ohtani's, Ward, Trey Cabbage, Mike Moustakas, Michael Lorenzen, Hunter Renfroe, Matt Thaiss, Luis Rengifo, Eduardo Escobar, Patrick Sandoval, Justin Steele, Louis, Steele, Yan Gomes, Mike Tauchman, Andrew Knizner, Miles Mikolas, Ian Happ, Happ, Willson Contreras, Josh Naylor, Jake Burger, Tanner Bibee, Emmanuel Clase, Daniel Vogelbach, Mark Canha, Jeff McNeil, Pete Alonso, Mason Thompson, Vogelbach, DJ Stewart, Canha, Kyle Finnegan, Alonso, David Peterson, Brooks Raley, Keibert Ruiz lofted Organizations: Los Angeles Angels, Detroit Tigers, Comerica Park, Los, Detroit, Tigers, Angels, Cubs, Cardinals, St, White Sox, Cleveland, skidding Chicago, The, Mets, Nationals, New, Washington, Thomson Locations: Detroit , Michigan, USA, Los Angeles, cramping, Chicago, New York

☆ Ford raises annual pre-tax profit view as supply chain woes ease
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

Companies Ford Motor Co FollowJuly 27 (Reuters) - Ford Motor (F.N) on Thursday raised its annual pre-tax profit expectation, as improving supply chains helped the automaker produce more pickup trucks and crossover family-SUVs to meet sustained demand from consumers. An improvement in the overall supply chain has aided automakers to ramp up production and get enough vehicles to dealer lots on time to meet a strong demand for personal mobility. Better offers and financing options on vehicles has also swayed more consumers to consider purchasing new vehicles in place of used vehicles and leasing options. The company now expects pre-tax profit for the year to come in between $11 billion and $12 billion, compared with its prior forecast of $9 billion to $11 billion. Reporting by Nathan Gomes in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Nathan Gomes, Arun Koyyur Organizations: Ford, Thomson Locations: Bengaluru

☆ Union Pacific appoints former executive Jim Vena as CEO
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: 1 min

July 26 - Union Pacific Corp (UNP.N) on Wednesday named former chief operating officer Jim Vena as its top boss, months after CEO Lance Fritz said he was stepping down, sending the U.S. railroad operator's shares up 6.7% in premarket trading. Vena, who will take the top job on Aug. 14, started his career in 1976 and was in the reckoning to lead Canadian National Railway Co (CNR.TO) after investors backed him for the role. He has worked under the late Hunter Harrison at Canadian National, who pioneered Precision Scheduled Railroading (PSR), which is commonly used across the industry today. Union Pacific, which connects 23 states in the western part of the country by rail, also elected Mike McCarthy as its board chairman. Reporting by Nathan Gomes and Amna Karimi in Bengaluru; Editing by Anil D'Silva and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Vena, Lance Fritz, Vena, Hunter Harrison, Mike McCarthy, Nathan Gomes, Amna, Anil D'Silva, Vinay Dwivedi Organizations: Union Pacific Corp, Wednesday, U.S ., Canadian National Railway Co, Canadian National, Union Pacific, Thomson Locations: Bengaluru

☆ Union Pacific names former executive Vena as CEO, misses profit estimate
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

Vena, who will take the top job on Aug. 14, started his career in 1976 and was in the reckoning to lead Canadian National Railway Co (CNR.TO) after investors backed him for the role. He has worked under the late Hunter Harrison at Canadian National, who pioneered Precision Scheduled Railroading (PSR), which is commonly used across the industry today. Union Pacific, which connects 23 states in the western part of the country by rail, also elected Mike McCarthy as its board chairman. The company reported second-quarter profit of $2.54 per share, missing analysts' average estimate of $2.75 per share, according to Refinitiv IBES data, as its shipments fell. The railroad industry has been struggling with railcar shortages resulting in shipment delays and supply-chain disruptions.

Persons: Jim Vena, Lance Fritz, Vena, Hunter Harrison, Fritz, Mike McCarthy, Nathan Gomes, Amna, Anil D'Silva, Vinay Dwivedi Organizations: Union Pacific Corp, Wednesday, U.S ., Canadian National Railway Co, Canadian National, Soroban Capital Partners, Union Pacific, Thomson Locations: Bengaluru

☆ Goodyear Tire to expand board in settlement with Elliott
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

The firm urged the company to refresh the board, sell its stores and conduct an operational review. On Tuesday, Goodyear said it would establish a strategic and operational review committee. Elliott, which has a history of taking board seats at companies including Twitter and eBay, had previously criticized the tyre-manufacturer for mismanagement and lagging behind its rivals, Michelin and Bridgestone. "We have been encouraged by Goodyear's openness to taking actions necessary to realize its full potential," Elliott executives said in a statement on Tuesday. Evercore, Lazard and Goldman Sachs are financial advisers to Goodyear, while Paul Weiss the legal counsel.

Persons: Goodyear, Richard Kramer, Elliott, Lazard, Goldman Sachs, Paul Weiss, Nathan Gomes, Sriraj Organizations: Goodyear Tire &, Elliott Investment Management, Twitter, eBay, Michelin, Bridgestone, Evercore, Goodyear, Thomson Locations: Tyre, Akron , Ohio, Bengaluru

Demand for used vehicles, which accelerated during the pandemic, has taken a hit after automakers started to ramp up production as the global supply chain crisis gradually eases. Consumers wanting to buy vehicles with advanced safety technology and a lower turnover for newer models in the pre-owned market have also dented demand for used vehicles. AutoNation said its second-quarter unit sales of new retail vehicles rose 8%, while unit sales of used vehicles fell 11%. Manley attributed the decline in AutoNation's used vehicle sales during the quarter to decisions to keep inventories lean amid choppy pricing. "As we built our used vehicle inventory in the quarter...we exited the quarter in line with industry: flat year over year," he said.

Persons: AutoNation, Mike Manley, Manley, Nathan Gomes, Raechel, Shilpi Majumdar, Mike Harrison Organizations: Reuters, Thomson Locations: Bengaluru

☆ MLB: Chicago White Sox at New York Mets
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +10 min

Cardinals starter Dakota Hudson allowed two runs on five hits in three innings. Marlins starting pitcher Sandy Alcantara (3-9) allowed four runs on eight hits and two walks in six innings. Red Sox starter Brayan Bello (7-6) took the loss, pulled after allowing all six Oakland runs and five hits in four innings. Mets 5, White Sox 1Justin Verlander tossed eight solid innings and Brett Baty homered for a second straight game as host New York beat Chicago. Nick Castellanos hit a solo home run and Kyle Schwarber added a two-run single for the Phillies, who had their four-game winning streak end.

Persons: Chase Silseth, Gary A, Vasquez, Taylor Ward, Luis Rengifo, Carlos Rodon, Giancarlo Stanton, Franchy Cordero, Rodon, Nolan Gorman, Louis, Gorman, Dakota Hudson, Zack Thompson, Chris Stratton, Sandy Alcantara, JJ Bleday, Cody Thomas, Jace Peterson, Lucas Erceg, Angel Felipe, Sam Long, Trevor, Brayan Bello, Yu Darvish, Manny Machado, Steven Wilson, Nick Martinez, Josh Hader, Jose Berrios, Justin Verlander, Brett Baty, Baty, Francisco Alvarez, Luis Guillorme, Brandon Nimmo, Luis Robert Jr, Touki Toussaint, Ryne Nelson, Nick Ahmed, Christian Walker, Marcell Ozuna, Austin Riley, Charlie Morton, Jonah Heim, Jon Gray, Gray, Man Choi, Jared Triolo, Jack Suwinski, Nick Gonzales, Ryan Borucki, Josh Bell, Amed Rosario, Sam Hentges, Ramon Urias, Gunnar Henderson, Urias, Henderson, Danny Coulombe, Felix Bautista, Max Muncy, James Outman, Julio Urias, Chas McCormick, Jake Meyers, Brandon Bielak, C.J . Cron, Austin Gomber, William Contreras, Blake Perkins, Hoby Milner, Nick Castellanos, Kyle Schwarber, Jeff Hoffman, Will Benson, Graham Ashcraft, Ashcraft, Blake Sabol, Ross Stripling, Miguel Cabrera, Eduardo Rodriguez, Cabrera's, Detroit's Javier Baez, Riley Greene, Rodriguez, Jason Foley, Alex Lange, Kansas City's Ryan Yarbrough, Nico Hoerner's, Mike Tauchman, Yan Gomes, Mason Thompson, Cory Abbott, Trevor Williams, Max Kepler, Edouard Julien, Alex Kirilloff, Kenta Maeda, Emilio Pagan, Jhoan Duran, Tom Murphy, Eugenio Suarez, Andres Munoz Organizations: Los Angeles Angels, New York Yankees, Angel, Wednesday, Triple, Angels, Yankees, Cardinals, Marlins, Dakota, Athletics, Red Sox, Oakland, Boston, Padres, Blue Jays, San Diego, Toronto, Jays, Mets, White Sox, New York, Chicago, Atlanta Braves, Diamondbacks, Braves, Atlanta, Arizona, Rangers, Rays, Tampa Bay, The Rangers, American League East, AL West, Pirates, Pittsburgh, Cleveland, Guardians, Orioles, Dodgers, Astros, Rockies, Houston, Colorado, Austin, Brewers, Phillies, Four Brewers, Reds, Giants, Cincinnati, San, The Reds, Milwaukee Brewers, Tigers, Royals, Detroit, Kansas City, cramp, Cubs, Washington, Mariners, Minnesota, Twins, Thomson Locations: Anaheim , California, USA, Anaheim , Calif, Silseth, Miami, Toronto, Arizona, Texas, Baltimore, Los Angeles, Angeles, Denver, Colorado, C.J, Milwaukee, Philadelphia, San Francisco, Kansas, Chicago, Seattle

☆ Carvana shares surge on plans to cut debt load
▼ + stars: | 2023-07-19 | by ( Nathan Gomes | ) www.reuters.com time to read: +4 min

Companies Carvana Co FollowJuly 19 (Reuters) - Carvana (CVNA.N) shares soared as much as 43% on Wednesday after the troubled used-car retailer struck a deal with most of its term bondholders to cut its outstanding debt by more than $1 billion. Carvana had long-term debt of $6.54 billion as of June end, relatively unchanged from a year earlier. But Carvana has been struggling to sell cars acquired at elevated prices as buyers, hit by inflation and worried about a recession, cut spending. Carvana shares have lost 87% of their value in the past two years. In premarket trading on Wednesday, Carvana's shares rose as high as $57, in what traders said looked like a short squeeze.

Persons: John Zito, Carvana, Ernest Garcia's, Carvana's, Ortex, they're, Dennis Dick, Nathan Gomes, Bansari Mayur, Shivansh, Raechel, Medha Singh, Sriraj Kalluvila, Saumyadeb Chakrabarty, Anil D'Silva Organizations: Triple D, Carvana, Thomson Locations: Bengaluru

☆ Carvana enters deal to cut debt by $1.2 bln, shares surge
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

"Apollo is pleased to support this debt exchange agreement, which stands to significantly strengthen Carvana's financial position while providing creditors with new first lien debt," John Zito, Apollo's Deputy CIO of credit, said in a statement. But the company has been struggling to sell cars acquired at elevated prices as buyers hit by inflation and worried about a recession cut spending. Carvana's shares have lost 87% of its value in the past two years. The company also posted a core profit of $155 million, compared to a loss of $216 million in the year-ago quarter. Reporting by Nathan Gomes in Bengaluru; Editing by Shweta Agarwal and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: John Zito, Carvana's, Nathan Gomes, Shweta Agarwal, Sriraj Organizations: Bloomberg News, Apollo Global Management, Pacific Investment Management, Thomson Locations: Bengaluru

☆ Read Your Way Through Salvador
▼ + stars: | 2023-07-19 | by ( Itamar Vieira Junior | Translated Johnny Lorenz | ) www.nytimes.com time to read: +2 min

Read Your Way Around the World is a series exploring the globe through books. I was born in Salvador, in the Brazilian state of Bahia, and lived in the general vicinity until I reached the age of 15. I already knew something of Amado, not from reading him but because he was an omnipresent figure in the cultural life of Salvador. Salvador was the first capital of Brazil, founded in 1549 as part of the Portuguese colonial project in the Americas. In the Salvador of yesteryear, one would find Europeans, mostly Portuguese and Dutch, as well as Indigenous peoples, especially the Tupinambá.

Persons: Jorge Amado, Amado, Salvador, Rufino, João José Reis, Flávio dos Santos Gomes, Marcus J.M, de Carvalho, Rufino ” Locations: Salvador, Brazilian, Bahia, Brazil, Portuguese, Americas, Salvador of yesteryear, Africa, Nigeria, Benin, Dahomey, Togo, Republic of Congo, Angola, Oyo

☆ Factbox: A look at Americans held in the past in North Korea
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +5 min

Here are some other Americans held in the past by North Korea. - The last American detained by North Korea was Bruce Byron Lowrance, who was caught after entering from China in October 2018. -Kenneth Bae, a Korean-American missionary, returned to the United States in November 2014 after being imprisoned in North Korea for two years. North Korean media said Park confessed to entering the state illegally and had changed his mind about North Korea after being treated kindly there. - In 1996, Evan Hunziker, then 26, was held for three months in North Korea on spying charges.

Persons: Donald Trump, Tony Kim, Kim Hak, Kim Dong, Jonathan Ernst, Bruce Byron Lowrance, Kim Jong, Otto Warmbier, Joseph Yun, Mike Pompeo, Kim, Kim Sang, Euna Lee, Laura Ling, Bill Clinton, Kenneth Bae, Matthew Todd Miller, Bae, Miller, Robert Park, Aijalon Mahli Gomes, Jimmy Carter, Gomes, Evan Hunziker, Hunziker, Bill Richardson, Thomas Hubbard, Bobby Hall, David Brunnstrom, Matt Spetalnick, Alistair Bell Organizations: Base Andrews, REUTERS, WASHINGTON, North, CIA, U.S . State Department, U.S, Korean, Pyongyang University of Science and Technology, Thomson Locations: North Korea, Base Andrews , Maryland, U.S, North, Washington, China, North Korean, United States, Ohio, Pyongyang, American, Korean, Korea, Boston, South Korea

☆ Ford slashes prices of F-150 Lightning trucks as EV price war heats up
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

July 17 (Reuters) - Ford Motor (F.N) deepened a price war in the electric-vehicle industry on Monday by slashing the prices of its F-150 Lightning trucks, including a 17% cut for the base model, as it aims to boost its share of an EV market dominated by Tesla (TSLA.O). The Detroit automaker, which had raised Lightning prices earlier this year, said it was able to cut prices on improvements in scale and battery raw material costs. The move comes amid a price war started by Tesla a few months ago, which has seen the EVs of legacy automakers piling up at dealers as sales slow. Ford also said it has temporarily closed its Rouge Electric Vehicle Center in Michigan to complete final plant upgrades as it aims to triple the facility's annual run rate to 150,000 Lightning trucks, beginning this fall. Battery raw material prices have been one of the factors that pushed up EV prices.

Persons: Tesla, Marin Gjaja, We've, Ford, Nathan Gomes, Shivansh, Pooja Desai Organizations: Ford, Tesla, General, Rivian, Detroit, Reuters Graphics, Electric Vehicle Center, EV, Thomson Locations: Austin, Michigan, Bengaluru

☆ Ford slashes prices of F-150 Lightning trucks, base variant to cost 17% less
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: 1 min

July 17 (Reuters) - Ford Motor (F.N) on Monday slashed the prices of its popular electric F-150 Lightning trucks, with the base variant now starting at about 16.6% less, amid an electric vehicle (EV) price war started by market leader Tesla (TSLA.O). The move also comes as some legacy automakers struggle with slowing EV sales, as Tesla's move to cut prices led to an accumulation of rival EVs at dealers. Ford, which has been pushing to shift to more EV models, said on Monday it had lowered the prices for all variants of the Lightning model. Ford's base Pro variant will now cost customers $49,995, compared to its prior price of $59,974, while the higher end Platinum model will cost about 6.2% less, at $91,995. Reporting by Nathan Gomes in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, EVs, Nathan Gomes, Pooja Desai Organizations: Ford, Thomson Locations: Bengaluru

☆ Explainer: Auto industry on tenterhooks as UAW kicks off talks with 'Detroit Three'
▼ + stars: | 2023-07-13 | by ( Nathan Gomes | ) www.reuters.com time to read: +6 min

REUTERS/Rebecca Cook/File PhotoJuly 12 (Reuters) - The United Auto Workers (UAW) union will start contract talks with the Detroit Three automakers beginning Thursday, ahead of the mid-September expiration of current four-year labor deals. WHO IS THE UNION NEGOTIATING WITH? The U.S. labor union will officially open talks first with Stellantis, followed by Ford on Friday and GM on Tuesday. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike that shut down its profitable U.S. operations. Fain who took helm of the union in March, has been a UAW member for more than two decades.

Persons: Rebecca Cook, Shawn Fain, Fain, They've, Biden, Tesla, Jim Farley, Ford, Stellantis, GM's, Wells, Colin Langan, Fitch, Steve Brown, Nathan Gomes, Ben Klayman, Shounak Dasgupta Organizations: REUTERS, United Auto Workers, UAW, Detroit Three, General Motors, Ford, Detroit, WHO, GM, EV, Detroit Free Press, Lear Corp, Thomson Locations: Auburn Hills , Michigan, U.S, Detroit, United States, Stellantis, American, Bengaluru, Ben

☆ Explainer: Clock ticks down towards potential UAW strike against Detroit Three automakers
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +6 min

Detroit automakers, like their global counterparts, have been focused on cost reductions, which in some cases include job cuts, to help accelerate a shift to electric vehicles (EVs) from gasoline-powered vehicles. Contract talks between the UAW and the Detroit automakers have gone on until the strike deadline and beyond in past years. "To win, we're likely going to have to take action," UAW Fain said on Wednesday. The Detroit Three want to close the cost gap they have with foreign automakers with non-unionized U.S. factories. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike.

Persons: Andrew Kelly, Shawn Fain, Fain, Jim Farley, we're, UAW Fain, Biden, Tesla, GM's, Nathan Gomes, Sriraj Organizations: United Auto Workers, UAW, International Workers, REUTERS, Detroit Three, General Motors, Ford Motor, Chrysler, Detroit, WHO, Ford, Detroit automakers, FROM, Reuters, EV, Deutsche Bank, Lear Corp, Anderson Economic Group, Thomson Locations: New York, Manhattan , New York City , New York, U.S, Bengaluru

☆ A day in the life of Erin Lichy, the new 'Real Housewives of New York City' cast member whose day job is selling and flipping luxury real estate
▼ + stars: | 2023-07-04 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

She is also a cast mate on the rebooted "Real Housewives of New York City," premiering July 16. Her two jobs play off each other: One day Lichy might sell a dated $5 million condo on the Upper West Side. While Lichy works with sellers to maximize their profit when listing a property, she's dabbled in flipping properties, too. Lichy earned her real-estate license at 19 years old and received a master's degree in sustainable development from New York University. Five of the new 'Real Housewives of New York City' cast members with Lichy at right.

Persons: Erin Lichy, Douglas Elliman's Eklund Gomes, —, Lichy, she's, hasn't, It's, Tesla, Abraham, Abraham Lichy, Levi, Layla, Elijah, Eklund Gomes, Homegirl, She's, it's, Le Cuona, We've, Erin Lichy She'll Organizations: Housewives, New, Service, Douglas Elliman's Eklund Gomes Team, New York University, New York City, NBC Locations: New York City, New, New York, Tribeca, Manhattan, Barry's, Flatiron, Tribeca ., romaine, Ubers, Brasserie

☆ EV truck maker Nikola to pull the plug on battery supplier Romeo
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

July 3 (Reuters) - Nikola Corp (NKLA.O) will start liquidating the assets of battery maker Romeo Power, the electric truck maker said on Monday, less than a year after buying it. Nikola in August agreed to buy Romeo Power for about $144 million in stock, as it looked to jump-start efforts to make battery packs. "Nikola is discontinuing its operations with Romeo Power and has commenced a proceeding under the California Assignment for the Benefit of Creditors (ABC) statutory scheme," a company spokesperson said in a statement on Monday. In contrast, market leader Tesla (TSLA.O) topped market expectations for second-quarter deliveries, after price cuts and U.S. federal credits helped make its electric vehicles more affordable. Romeo Power is one of the battery suppliers for Nikola's prototype electric trucks along with LG Energy Solution (373220.KS) and Proterra Inc (PTRA.O).

Persons: Nikola Corp, Romeo Power, Nikola, Romeo, Tesla, Power, Nathan Gomes, Akash Sriram, Sriraj Organizations: Nikola, EV, Lordstown Motors, LG Energy, Proterra Inc, Thomson Locations: California, Bengaluru

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