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An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. LGES, which supplies Tesla (TSLA.O), General Motors (GM.N) and other automakers, said revenue growth in 2024 would not be as high as the mid-30% rate forecast for this year. LGES shares dropped as much as 6.69% to the lowest level in more than 12 months, versus the benchmark KOSPI's (.KS11) 0.6% fall. The company also said it would produce cheaper lithium iron phosphate (LFP) batteries from 2026 to better respond to demand for lower-priced EVs. But it was down 6% from the June quarter due to the demand slowdown in Europe, production adjustments by automakers and lower metal prices.
Persons: Kim Hong, Lee Chang, sil, Kim Gyunghoon, Kim, Kang Dong, LGES, 1,345.0800, Heekyong Yang, Joyce Lee, Miyoung Kim, Jamie Freed Organizations: LG Energy, REUTERS, GM JV, Korean, EV, General Motors, GM, Hyundai Motor Securities, Thomson Locations: Seoul, South Korea, SEOUL, China, Europe, Poland, U.S, Ohio, ARIZONA, Arizona
Expectations for persistently higher interest rates has led companies to alter plans as they eye 2024 warily. "EV demand next year could be lower than expectations," Lee Chang-sil, chief financial officer at South Korean battery maker LG Energy Solution (373220.KS) said on Wednesday, due to global economic uncertainty. GM on Tuesday said it would focus near-term EV efforts on meeting demand rather than hitting specific volume targets. If interest rates remain high or if they go even higher, it's that much harder for people to buy the car." Like many other industrial firms, carmakers hedge against commodity price swings, and with EV demand slowing, raw material prices have softened, including those used heavily in batteries.
Persons: Tesla, Aly, Lee Chang, Mary Barra, Elon Musk, Nidec, China's CATL, Ben Klayman, David Gaffen, Eric Onstad, Jonathan Oatis Organizations: REUTERS, Honda, EV, sil, South, LG Energy, General Motors, GM, Investors, Tech, Cox Automotive, European Union, Volkswagen, Fastmarkets, CME, U.S, Ford, EVs, Victoria Waldersee, Thomson Locations: Tesla China, Shanghai, China, KS, United States, Mexico, Detroit, New York, London, Berlin
Oct 25 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Upbeat U.S. economic data often fuels Fed rate hike expectations, dragging stocks and other asset markets lower. In Asia on Wednesday, South Korea's LG Display is expected to show a fall in quarterly revenue when it reports results. On the economic data front, annual consumer inflation in Australia is expected to slow to 5.3% in the third quarter from 6.0% in the April-June period. The Australian dollar liked what it heard, bucked the global trend of widespread weakness against the U.S. dollar, and goes into the inflation data on the front foot around $0.6360.
Persons: Jamie McGeever, Michele Bullock, Lan Foan, Xi Jinping, Josie Kao Organizations: Microsoft, Google, South, LG, Apple, Reserve Bank of Australia, U.S ., South Korea LG, Thomson, Reuters Locations: U.S, Asia, Australia, China, Beijing, South Korea
MINNEAPOLIS (AP) — Kirk Cousins connected with rookie Jordan Addison for two first-half touchdowns, Camryn Bynum intercepted San Francisco’s Brock Purdy twice in the fourth quarter, and the Minnesota Vikings beat the 49ers 22-17 on Monday night. Christian McCaffrey scored twice for the 49ers (5-2), who lost their second straight game for the first time in a 34-game stretch. Addison, stepping up in a big way with superstar wide receiver Justin Jefferson sidelined by a hamstring injury, had seven catches for 124 yards in his breakout game on a prime-time stage. Purdy, who was picked off with 5:30 remaining at the Minnesota 30 after an apparent mix-up with wide receiver Jajuan Jennings, completed two short throws to reach the Minnesota 40. Vikings: LB Brian Asamoah limped off after colliding on the kickoff with Flannigan-Fowles.
Persons: — Kirk Cousins, Jordan Addison, Camryn Bynum, Brock Purdy, Christian McCaffrey, Charvarius Ward, Addison, Justin Jefferson, Greg Joseph, Purdy, Jajuan Jennings, Bynum, Ray McCloud III, LB Demetrius Flannigan, Fowles, Dre Greenlaw, Brian Asamoah, Flannigan, LG Ezra Cleveland, Dalton Risner, ___ Organizations: Minnesota Vikings, 49ers, Vikings, USC, Minnesota, Ray, LB, LG, NEXT, Cincinnati, Sunday . Locations: MINNEAPOLIS, Addison, Minnesota, Green Bay
We'll show you where to watch UFC 294 live stream no matter where you are and detail the latest UFC 294 PPV prices. If you plan to watch live, you'll want to set an early alarm, as UFC 294 has a 10 a.m. We'll also guide you step-by-step on how to use a VPN to watch UFC 294, no matter where you are. ET / 7 p.m. BST / 5 a.m. AEDT (Sun)How to watch UFC 294 in the USUS viewers can watch the main event of UFC 294 on ESPN Plus this afternoon at 2 p.m. How to watch UFC 294 everywhere elseIf you're not in the US, you still have a few options to watch UFC 294.
Persons: Kamura Usman, Charles Oliveira, Kamaru Usman, Paulo Costo, Chimaev, today's, Alexander Volkanovski, We'll, McGregor, ExpressVPN, Makhachev, Khamzat Chimaev, Magomed Ankalaev, Johnny Walker, Ikram, Warlley Alves, Said Nurmagomedov, Muin Gafurov, Prelims, Tim Elliott, Muhammad Mokaev, Mohammad Yahya, Trevor Peek, Javid Basharat, Victor Henry, Abu Azaitar, Sedriques Dumas, Mike Breeden, Anshul Jubli, Nathaniel Wood, Muhammad Naimov, Viktoriia, Jinh Yu Frey, Women's, Shara Magomedov, Bruno Silva Organizations: UFC, Brazilian, Etihad Arena, ESPN Plus, ESPN, TNT Sports, Amazon, Apple, PlayStation, Samsung, BT, BT Sport, You'll, LG Locations: Abu Dhabi, Canada, Australia, New Zealand, Germany, Italy, Spain, Poland, Switzerland, Asia, Africa, Brazil
Learn moreSamsung's new S90C 4K OLED TV sits a step below the company's latest flagship model, and is designed to take on other value-forward OLEDs like LG's C3. Samsung S90C 65-inch 4K OLED TV The S90C is the successor to our favorite TV of 2022, the Samsung S95B. As for other home theater features, you'll get just about everything you'll need, with the exception of Dolby Vision. Ryan Waniata/InsiderDefinitely, Samsung's S90C is one of the best OLED TVs we've seen. And if you're still looking for more TV recommendations, check out our guides to the best 4K TV and best 65-inch TV.
Persons: you've, Ryan Waniata, brawn, priciest, it's, You'll, It's, Bixby, we've, we'd, you'll, OLED there's Organizations: Samsung, LG, Sony, Samsung's, Gaming, Nvidia, Dolby Vision, Vision, Dolby, Netflix, Disney, HDMI, Smart
REUTERS/Ernest Scheyder/File Photo Acquire Licensing RightsMELBOURNE, Oct 16 (Reuters) - U.S.-based miner Albemarle (ALB.N) said it had dumped a A$6.6 billion ($4.16 billion) buyout bid for Australian lithium developer Liontown Resources (LTR.AX), in part because of "growing complexities" around the transaction. Liontown went into trading halt just after making the announcement to the market, pending a finalisation of funding for its flagship Kathleen Valley lithium project in Western Australia, which is due to start producing lithium next year. Liontown had last week granted the world's biggest lithium chemical maker an extra week to examine its books and allow Albemarle to put forward a binding offer. "Our engagement with the Liontown team has been meaningful and productive. Hancock has not yet approached Liontown which until now has been under an exclusivity deal with Albemarle, the source added.
Persons: Ernest Scheyder, Albemarle, Hancock, Gina Rinehart, Liontown, Kathleen Valley, Kent Masters, Melanie Burton, Scott Murdoch, Rishav Chatterjee, Lisa Shumaker, Sandra Maler, Jamie Freed Organizations: REUTERS, Rights, Liontown Resources, Ford Motor, LG Energy, Thomson Locations: Silver, , Nevada, U.S, Albemarle, Western Australia, Melbourne, Sydney, Bengaluru
[1/2] 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 RightsWASHINGTON, Oct 12 (Reuters) - U.S. investigators on Thursday proposed $270,000 in fines for a General Motors (GM.N) and LG Energy Solution (373220.KS) joint venture battery plant in Ohio for safety and health violations. "The company’s focus on the future must include an emphasis on workplace safety to ensure the well-being of its employees," OSHA Area Director Howard Eberts in Cleveland said. OSHA said Ultium needs to install required machine guarding, train workers in hazardous energy control and emergency response procedures and make other changes. Since the Warren, Ohio, facility began battery cell production in August 2022, OSHA has cited the plant 11 times, the agency said.
Persons: Rebecca Cook, Howard Eberts, Warren, David Shepardson, Bill Berkrot Organizations: General Motors, REUTERS, Rights, U.S, LG Energy, Occupational Safety, Health Administration, OSHA, Ultium Cells, Thomson Locations: Detroit , Michigan, U.S, Ohio, Cleveland, Warren , Ohio
SeongJoon Cho | Bloomberg via Getty ImagesSmartphones with displays capable of repairing themselves could start appearing on the market by 2028, according to analyst firm CCS Insight. Companies have been talking about smartphone display technology that can be self-repaired for several years now. LG, the South Korean consumer electronics giant, was touting self-healing technology in its smartphones as far back as 2013. Phone makers are getting more and more inventive when it comes to display technology. The company's HTC Hero, HTC Legend, HTC Desire and HTC One were among some of the leading Android phones.
Persons: SeongJoon Cho, Wood, We're, Apple, HTC Organizations: Samsung, Bloomberg, Getty, CCS Insight, CNBC, Companies, LG, South, Motorola, Mobile, HTC, Insight, Google, Meta, Sony, Apple, they'll Locations: Barcelona
"It's more a virtuous cycle —lower battery prices mean more competitively priced EV cars [and in turn] higher adoption and higher demand." Technological developments such as direct lithium extraction could also cause a shake-up in battery prices. Battery market 'winners' Despite some potential risks, Bhandari identified several global stocks that look set to gain from the fall in battery prices. Battery market 'losers' Goldman also revealed a list of potential "losers" in the battery market, or stocks it has a sell call on right now. It gives Gotion a 22.6 Renminbi price target, or 1.8% downside.
Persons: Goldman Sachs, ning, Nikhil Bhandari, CNBC's, Bhandari, , Envicool, Goldman, CNBC's Naman Tandon Organizations: Battery, LG Chem, Korean, Panasonic, Hong Locations: China, Africa, Latin America, Hong Kong
Learn moreThe Prime Day TV deals event is officially underway, and a new wave of top discounts has just landed on the site. If you want to look at the sale's full scale, check out our main Prime Day deals roundup. Prime Day TV deals aren't just about the fancy sets, though. If you can afford to spend a little more, many quality 4K TVs comfortably come in under $500. The best Prime Day TV deals
Persons: We'll, It's, we've Organizations: Amazon's
Learn moreAmazon's Prime Day in October sale, officially called Prime Big Deal Days, has arrived. We've rounded up the best Prime Day soundbar deals below, including great options from other brands like LG, Bose, and Samsung. And for more discounts, check out our liveblog with all of the best Prime Day deals right now. Best Prime Day soundbar dealsAre soundbars worth it? What is a Dolby Atmos soundbar?
Persons: We've, soundbar Organizations: Deal, LG, Bose, Samsung Locations: .
Learn moreAmazon's October Prime Day event is officially underway, and we're here to round up the best Prime Day TV deals. Many of the best TV deals are invite-only, even for Prime members. And if you're looking for even more discounts from Amazon's Prime Big Deal Days event, check out our main Prime Day deals roundup that covers all product categories. Without further ado, here are the best Prime Day TV deals of 2023. Top Prime Day deals on 32- and 43-inch TVsTop Prime Day deals on 50- and 55-inch TVsTop Prime Day deals on 65-inch TVsTop Prime Day deals on 75-, 77-, and 85-inch TVsTop Prime Day deals on speakers and TV accessories
Persons: There's, We're Organizations: LG, Samsung, Sony, Amazon's, Deal
Below, you'll find a full list of the best monitor deals during Amazon's Prime Big Deal Days sale. And for more savings, head on over to our live roundup of all the best Prime Day deals across all product categories. Top 5 monitor deals during Prime DayThe best Prime Day monitor dealsDell's S2721QS 4K monitor is on sale now for Prime Day AmazonThe best Prime Deal Days gaming monitor dealsLG's high-end 48-inch UltraGear monitor is down to an all-time low price for Prime Day. For more information on how to pick the right monitor, check out our buying guides for the best computer monitors and best gaming monitors. You can also read our best gaming PC and best gaming laptop guides for more PC hardware recommendations.
Organizations: Amazon Prime, Samsung, LG, Dell, Asus, Amazon's, Deal, Prime
Learn morePrime Day TV deals are a major part of every big Amazon sale, and this week's event is no different. If you're interested in more than just TVs, be sure to take a look at our full roundup of the best Prime Day deals. Prime Day 2, or Prime Big Deal Days if you will, officially kicks off at midnight PT on October 10 and continues for 48 hours from there. Prime Day TV deals aren't just about the fancy sets, though. The best Prime Day TV deals
Persons: we've, We'll
SANTA CLARA, Calif. (AP) — Brock Purdy threw three of his four touchdown passes to George Kittle and the San Francisco 49ers extended their dominance over the Dallas Cowboys with a 42-10 victory Sunday night. He threw two more interceptions in the fourth quarter with his only highlight coming on a 26-yard TD pass to KaVontae Turpin in the second quarter. Kittle became the first Niners player with three TD catches in a game since Vernon Davis in 2009. Purdy added a 1-yard TD pass to Kyle Juszczyk in the fourth quarter. SCORING STREAKMcCaffrey scored on a 1-yard run in the second quarter after losing a fumble near the goal line earlier in the game.
Persons: — Brock Purdy, George Kittle, Purdy, Dak, Prescott, KaVontae Turpin, Dallas, Brandon Aiyuk, Deebo Samuel, Kittle, Vernon Davis, Kyle Juszczyk, San, McCaffrey, Lenny Moore, Simpson, John Riggins, LB Leighton Vander Esch, Goodwin, Turpin, LG Aaron Banks, ___ Organizations: San Francisco 49ers, Dallas Cowboys, Niners, Cowboys, NFL, Dallas, Arizona, 49ers, INACTIVES Cowboys, LB, C.J, LG, NEXT Cowboys, Chargers Locations: SANTA CLARA, Calif, Dak Prescott, New Orleans, Kittle, Purdy, San Francisco, Dallas, Cleveland
"Our strike is working, but we’re not there yet," UAW President Shawn Fain said in a livestreamed update on negotiations with the three automakers. Threatening to strike against GM's Arlington, Texas, plant that makes cash-cow SUVs like the Cadillac Escalade spurred GM to agree that EV battery factories would become union plants with UAW contracts, Fain said. GM is building three Ultium joint-venture battery plants with South Korea's LG Energy Solution (373220.KS). GM is building a fourth U.S. battery plant with Samsung SDI (006400.KS) in Indiana. Fain also said on Friday that the UAW could still strike against highly profitable pickup truck plants if progress stalls.
Persons: Rebecca Cook, General Motors, we’re, Shawn Fain, GM's, Fain, Sam Fiorani, Ultium, Harley Shaiken, Jim Farley, Ford, Stellantis, Mark Stewart, Tesla, Elon, we've, walkouts, Joe White, David Shepardson, Abhirup Roy, Dan Burns, Ben Klayman, Abhijith, David Gaffen, Peter Henderson, Nick Zieminski, Matthew Lewis Organizations: United Auto Workers, General Motors Lansing Delta, Michigan U.S, REUTERS, Detroit Three, UAW GM, UAW, GM, Ford, Detroit, General, Ford Motor, Chrysler, EV, AutoForecast Solutions, Korea's LG Energy, Democratic U.S, Samsung SDI, University of California, LG, Samsung, American, Reuters Graphics Reuters, Thomson Locations: Delta Township, Michigan, DETROIT, GM's Arlington , Texas, U.S, Ohio, Indiana, Berkeley, Milan, Detroit, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLG Energy Solution to release cheaper batteries to combat Chinese competition: CEOYoungsoo Kwon of LG Energy Solution says the world's number one EV battery maker ex-China is trying to become more cost-competitive, as it faces short term price pressure from a supply glut.
Persons: Youngsoo Kwon Organizations: LG, LG Energy Locations: China
This is the first week since targeted strikes by the UAW started on Sept. 15 that the union will not expand the work stoppages at GM, Ford Motor or Chrysler-parent Stellantis . GM, with its battery plant in Ohio, is the only Detroit automaker with a joint venture battery plant in operation and unionized in the U.S. watch nowElectric vehicle battery plants have been a major point of contention in this year's talks between the union and the three Detroit automakers. Officially, because they're owned by joint ventures, the battery plants aren't covered by the automakers' agreements with the union. Ford CEO Jim Farley said last week that the UAW is "holding the deal hostage over battery plants."
Persons: Shawn Fain, Fain, We've, Jim Farley, Ford, Mark Stewart, who's, Stewart, Rebecca Cook Organizations: GM, Detroit automakers, DETROIT, United Auto Workers, Detroit, General Motors, UAW, Ford Motor, Chrysler, Arlington Assembly, U.S, LG Energy, Samsung SDI, Ford, North, General Motors Lansing Delta Plant Locations: Arlington, Ohio, United States, U.S, North America, Delta Township , Michigan
The deal will support Toyota's expanding battery EV line-up, which includes a new model that will be assembled at a manufacturing plant in Kentucky — its largest globally — starting in 2025. LG Energy Solution also supplies other automotive giants such as America's General Motors , South Korea's Hyundai, and Japan's Honda . Less than five months ago, LG Energy Solution said it will build a $4.3 billion EV battery plant in the U.S. with Hyundai, in a bid to leverage tax credits. LG Energy Solution will invest about 4 trillion Korean won ($3 billion) "to establish new production lines for battery cells and modules exclusively for Toyota, with completion slated for 2025." Chinese competitionLG Energy Solution is currently the world's third-largest EV battery producer after Chinese EV player BYD, according to data from South Korean energy market research firm SNE Research.
Persons: Youngsoo Kwon, Kwon, Toyota's, Japan's Organizations: Korea's LG Energy, Toyota, LG Energy, CNBC, America's, Motors, Hyundai, Japan's Honda, U.S, Lexus, LG, EV, BYD, SNE Research Locations: U.S, Kentucky, Toyota's Tokyo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailToyota deal: We now have 9 of the 10 top automakers as our clients, says LG Energy Solution CEOKwon Young-soo, CEO of South Korean battery maker LG Energy Solution, discusses its battery supply deal with Toyota for U.S. electric vehicles. He says "out of the 10 global automakers, we're working with eight of them. One thing I wanted to change was the fact that we didn't have any business with the No. 1 player, Toyota. Now, we have a deal with Toyota."
Persons: Kwon Young Organizations: Toyota, LG Energy, South, LG, U.S Locations: South Korean
Toyota logo is seen at a Toyota Society Motors showroom in Karachi, Pakistan, July 27, 2022. LGES will invest $3 billion in its Michigan battery facility to supply Toyota exclusively. LGES also is a partner with General Motors (GM.N) in the Ultium battery joint venture, which is building a separate $2.1 billion plant in Lansing, Michigan to supply GM's electric vehicles. LGES will supply Toyota with 20 gigawatt-hours of high-nickel NCMA battery modules annually from the South Korean company's Michigan facility. The battery maker will establish new production lines in Michigan for pouch-type battery cells and modules for Toyota.
Persons: Akhtar Soomro, LGES, Shivansh, Shilpi Majumdar, Cynthia Osterman Organizations: Toyota, Toyota Society Motors, REUTERS, LG Energy, General Motors, Hyundai, Honda, Panasonic, Prime Planet Energy & Solutions, Korean company's, Thomson Locations: Karachi, Pakistan, KS, U.S, Michigan, Lansing , Michigan, North Carolina, Korean company's Michigan, Bengaluru
India's growth prospects have seen many investors and big-name banks turn bullish on the country, but portfolio manager Kamil Dimmich says he's steering clear. Dimmich, who manages the $1.5 billion Pacific North of South Emerging Market All Cap Equity fund, said he is "always looking for great companies with strong cashflows that are not correctly reflected in the market." 'Great value market' One country he is very bullish on is South Korea, which he calls a "great value market." The portfolio manager acknowledged that his love of the South Korean market is an interesting one. And so that has always led the Korean market to be quite cheap because people didn't have much faith," he said.
Persons: Kamil Dimmich, Dimmich Organizations: South Capital, CNBC, P, South Emerging, Equity, LG, KB Financial, Samsung, South Locations: North, India, Japan, South Korea
The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSummaryCompanies LG Chem to build joint LFP cathode plant in Morocco with China's YoushanCompany to enter LFP cathode business for the first timeCompany partners with Huayou Group to build 4 facilities in Morocco and IndonesiaSEOUL, Sept 24 (Reuters) - South Korea's LG Chem Ltd (051910.KS) said on Sunday it has entered into partnership with China's Huayou Group's subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco in an effort to diversify its portfolio. LG Chem said LFP cathodes produced at the Morocco plant will be supplied to the North American market and receive subsidies from the U.S. Inflation Reduction Act (IRA) as Morocco is a free-trade partner with the United States. LG Chem and Youshan would need to adjust their respective equity share in compliance with the U.S. Treasury Department's guideline of a "foreign entity of concern," a provision aimed at China, LG Chem said in the statement. The size of LG Chem's investments for its four facilities with Huayou Group has not been finalised yet.
Persons: Kim Hong, China's, LG Chem, LFP cathodes, Heekyong Yang, Shri Navaratnam Organizations: LG Chem, REUTERS, China's Youshan Company, Huayou Group, LG Chem Ltd, LG, North, U.S, U.S . Treasury, U.S . Treasury Department, Huayou, Thomson Locations: Seoul, South Korea, Morocco, Indonesia SEOUL, KS, United States, Korea, China, U.S, Indonesia
In the shadow of a shuttered General Motors plant in Lordstown, Ohio, far from the United Automobile Workers’ picket lines, the U.A.W. and the management of an electric vehicle battery plant are locked in a wholly different conflict. officials take pains to say the talks in Lordstown between the autoworkers union and Ultium Cells, a joint venture between G.M. and LG Energy Solution in South Korea that is building the fuel cells to power G.M.’s electric vehicles, are not directly linked to the strikes. Vance, Republican of Ohio, specifically pointed to the struggles of Ultium workers laboring near the old G.M.
Persons: Biden, Donald J, Trump, , Biden’s, J.D, Vance Organizations: General Motors, United Automobile Workers, Ultium, LG Energy, Democrats, Republican Locations: Lordstown , Ohio, Ohio, Lordstown, G.M, South Korea, Michigan
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