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☆ US Senate Democrats tee up bill to avert government shutdown
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kevin Wurm/File Photo Acquire Licensing RightsWASHINGTON, Nov 9 (Reuters) - U.S. Senate Majority Leader Chuck Schumer on Thursday took a procedural step to allow the Democratic-majority chamber to pass a stopgap government funding bill before a Nov. 17 deadline to avert a partial government shutdown. THE TAKEDisputes within the fractious House of Representatives Republican majority have prevented that chamber from voting on a stopgap funding measure known as a continuing resolution, or CR. If House Republicans fail to start that process in time, Senate Democrats could pass a bill of their own, which would need House approval, to head off the fourth partial government shutdown in a decade. WHAT'S NEXT* Democrats and Republicans in both chambers will continue negotiations on finding a path forward ahead of the deadline, in the hopes of averting a shutdown. Reporting by Makini Brice and Katharine Jackson; Editing by Scott Malone and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Wurm, Chuck Schumer, Kevin McCarthy, Republican Mike Johnson, Joe Biden, McCarthy, Makini Brice, Katharine Jackson, Scott Malone, Alistair Bell Organizations: U.S, Capitol, REUTERS, Rights, Democratic, Republican, Republicans, United, Thomson Locations: Washington , U.S, United States

Former U.S. President Donald Trump speaks on the day he attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 6, 2023. Engoron is unlikely to grant the request as he has already found that Trump and 10 of his businesses committed persistent fraud. However, Engoron's ruling covered only one of the seven fraud counts Trump faces. Trump, the frontrunner for the 2024 Republican presidential nomination, has testified along with his sons Donald Jr. and Eric Trump and daughter Ivanka Trump. The fraud trial is one of several legal battles Trump faces as he mounts a comeback bid for the White House.

Persons: Donald Trump, Shannon Stapleton, Donald Trump’s, Trump, Letitia James, Arthur Engoron, Donald Jr, Eric Trump, Ivanka Trump, James, Christopher Kise, There's, ” Kise, Engoron, they’re, Kise, Jack Queen, Luc Cohen, Jonathan Stempel, Andy Sullivan, Noeleen Waldeer, Lisa Shumaker, Alistair Bell Organizations: U.S, Trump Organization, Court, REUTERS, New, New York, Trump, White, Republican, Thomson Locations: New York, Manhattan, New York City, U.S, York

☆ US strike on weapons facility in Syria a 'deterrent', White House says
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

The United States carried out strikes on Wednesday against a weapon storage facility in eastern Syria that the Pentagon said was used by Iran's Islamic Revolutionary Guard Corps (IRGC) and affiliated groups. President Joe Biden said the United States had to respond after U.S. troops were targeted and that the retaliatory strikes were working. White House spokesman John Kirby separately told CNN that the U.S. strikes "had a practical impact on their ability to arm these groups, but also to send a strong signal of deterrence." The United States has occasionally carried out retaliatory strikes against Iranian-backed forces in the region after they attack American forces, including one on Oct. 26. "He stands on a real, real, real fine little pin there when he talks about coordination and not directing," Kirby responded.

Persons: Joe Biden, Biden, John Kirby, they're, Kirby, Amir Saeid Iravani, Iravani, Doina Chiacu, Steve Holland, Susan Heavey, Toby Chopra, Alistair Bell Organizations: U.S, United, Pentagon, Islamic Revolutionary Guard Corps, CNN, United Nations, House, Thomson Locations: Syria, Israel, United States, U.S, Iraq, Iran, Gaza

By law, an election needs to be held within 60 days of the publishing of the presidential decree dissolving parliament. "I hope that time, sooner rather than later, will allow us to clarify what happened," Rebelo de Sousa said. By calling the March election, Rebelo de Sousa also addressed the need of the PS to pick a new leader to run. Earlier, PS President Carlos Cesar said March would be the best timing, while other parties pointed to January or February. "It is urgent to reestablish trust and prestige in democratic institutions," the leader of the PSD, Luis Montenegro, said after the president announced the election.

Persons: Marcelo Rebelo de Sousa, Rebelo de Sousa, Antonio Costa, illegalities, Costa, Rebelo, Mario Centeno, Filipe Garcia, Mercados, Carlos Cesar, Andre Ventura, Luis Montenegro, Catarina Demony, Sergio Goncalves, Andrei Khalip, Marguerita Choy, Alistair Bell Organizations: Lawmakers, Socialist, Socialist Party, of State, Prosecutors, Bank of Portugal, Social Democrats, PSD, Thomson Locations: LISBON, Portugal, Portuguese, Lisbon, Belem, Europe, Western, Montenegro

☆ The New York Times got its content removed from one of the biggest AI training datasets. Here's how it did it.
▼ + stars: | 2023-11-08 | by ( Alistair Barr | Kali Hays | ) www.businessinsider.com time to read: +4 min

The New York Times discovered a big AI training dataset contained links to its copyrighted content. The media company also found its content in other AI training datasets, such as WebText. The New York Times discovered that Common Crawl, one of the largest AI training datasets, contained millions of URLs linking to its paywalled articles and other copyrighted content. The New York Times has found its paywalled articles and other copyrighted content in other popular AI training datasets. It's unclear if The New York Times has managed to get its content removed from WebText and other AI training datasets.

Persons: —, OpenAI's, Google's Infiniset, Charlie Stadtlander, Masterclass, Kelly, GAI Organizations: New York Times, Service, The New York Times, Foundation, US, Amazon, Yorker, The Times Locations: Originality.ai

☆ Ukraine says Russian missile hits civilian vessel in Black Sea, kills one
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - A Russian missile damaged a Liberia-flagged civilian vessel entering a Black Sea port in Odesa region, killing one and injuring four people, Ukrainian officials said on Wednesday. After pulling out of the U.N.-brokered deal that guaranteed safe shipments of Ukrainian grain via the Black Sea, Russia has been repeatedly attacking Ukrainian port infrastructure. It added that one person was killed, three crew members, citizens of the Philippines, and one port employee were injured. The vessel was supposed to transport iron ore to China, Ukraine Infrastructure Minister Oleksandr Kubrakov said. Kubrakov added that Russia carried out 21 targeted attacks on port infrastructure after withdrawing from the deal.

Persons: Oleksandr Kubrakov, Kubrakov, Yoruk Isik, Yuliia Dysa, Jonathan Saul, Andrew Cawthorne, Alistair Bell, Ron Popeski Organizations: Facebook, Bosphorus Observer, Reuters, United, Kyiv, Thomson Locations: Russian, Liberia, Odesa, Russia, Philippines, China, Ukraine, Ukrainian, United Nations, Turkey

☆ Biden approval falls to lowest level since April -Reuters/Ipsos
▼ + stars: | 2023-11-07 | by ( Jason Lange | ) www.reuters.com time to read: +2 min

U.S. President Joe Biden boards a vehicle after arriving at Delaware Air National Guard Base in New Castle, Delaware, U.S., November 6, 2023. REUTERS/Leah Millis/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - U.S. President Joe Biden's popularity slipped this month to its lowest level since April, a Reuters/Ipsos poll showed, the latest data point raising concerns about the Democrat's re-election bid next year. Biden is widely expected to face a November 2024 rematch with former President Donald Trump, the frontrunner for the Republican nomination. The share of poll respondents who rated "war and foreign conflicts" the No. The Reuters/Ipsos poll gathered responses online from 1,019 adults, using a nationally representative sample.

Persons: Joe Biden, Leah Millis, Joe Biden's, Biden, Donald Trump, Jason Lange, Scott Malone, Alistair Bell Organizations: Delaware Air National Guard Base, REUTERS, Rights, Reuters, Republican, Thomson Locations: New Castle , Delaware, U.S, Israel, Russia, Ukraine

☆ Britain says self-driving car makers liable for incidents in new framework
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

File photo: Heavy traffic as seen on the M3 motorway heading towards the English coast, near Southampton, Britain, August 7, 2020. King Charles said the government would bring forward an Automated Vehicles Bill as he set out the government's legislative agenda for the forthcoming parliamentary session, after one promised last year did not materialise. "My Ministers will introduce new legal frameworks to support the safe commercial development of emerging industries, such as self-driving vehicles," Charles said in a speech to lawmakers. "The Bill gives people immunity from prosecution when a self-driving vehicle is driving itself, given it does not make sense to then hold the person sat behind the wheel responsible." The bill will establish new processes to investigate incidents and improve the safety framework, and will also set the threshold for what is classified as a self-driving car.

Persons: Toby Melville, King Charles, Charles, Alistair Smout, Nick Carey, William James, Kate Holton Organizations: REUTERS, Companies, Motors, Thomson Locations: Southampton, Britain, AVs, U.S, California

☆ The laws British PM Sunak wants to pass before the next election
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +5 min

The King's Speech - given by the monarch but written by government ministers - opens the new session of parliament. This is likely to be the last one before the election, which must be held by January 2025, and many policies were aimed at appealing to voters. CIGARETTES AND VAPESThe Tobacco and Vapes Bill will deliver on Sunak's promise made last month to phase out all tobacco sales in England. SOCCER REGULATORThe government plans to set up an independent football regulator, who will be responsible for scrutinising club owners and their financial resources. The new legislation will require owners to ensure fans are consulted on changes to club's badges, names and shirt colours.

Persons: Rishi Sunak, Keir Starmer, Hannah McKay, King Charles, Bill, Andrew MacAskill, Alistair Smout, Elizabeth Piper, Alex Richardson, Barbara Lewis Organizations: British, Labour Party, REUTERS, Conservatives, Petroleum, Markets, Competition, Consumers, SOCCER, Super League, Trans, Pacific, Thomson Locations: London, Britain, England, North, Freehold, Wales, Pacific, Australia, Japan

[1/2] File photo: Heavy traffic as seen on the M3 motorway heading towards the English coast, near Southampton, Britain, August 7, 2020. REUTERS/Toby Melville/File photo Acquire Licensing RightsLONDON, Nov 7 (Reuters) - Britain will make the makers rather than the owners of self-driving cars legally liable for any crashes under a framework for developing autonomous vehicles (AV), the government said on Tuesday, in a move welcomed by insurers and AV startups. King Charles said the government would bring forward an Automated Vehicles Bill as he set out the government's legislative agenda for the forthcoming parliamentary session, after one promised last year did not materialise. "My ministers will introduce new legal frameworks to support the safe commercial development of emerging industries, such as self-driving vehicles," Charles said in a speech to lawmakers. The bill will establish processes to investigate incidents and improve the safety framework, and will also set the threshold for what is classified as a self-driving car.

Persons: Toby Melville, King Charles, Charles, Tara Foley, Alex Kendall, Paul Newman, Alistair Smout, Nick Carey, William James, Kate Holton, Barbara Lewis Organizations: REUTERS, Ireland, AXA, Companies, Microsoft, Motors, Oxford, Thomson Locations: Southampton, Britain, U.S, California

Republican Senator Roger Marshall said: "Time is of the essence and it's imperative that the Senate not delay delivering this crucial aid to Israel another day," he said. The House bill would provide $14.3 billion for Israel as it responds to a deadly Oct. 7 attack by Islamist Hamas militants, but also cut the same amount of money from the IRS. "Our allies in Ukraine can no more afford a delay than our allies in Israel," said Senator Patty Murray, who chairs the Senate Appropriations Committee. The White House had said Biden would veto the House bill. Senate leaders are writing their own supplemental funding bill and hope to introduce it as soon as this week.

Persons: Kevin Wurm, Roger Marshall, Joe Biden, Patty Murray, Biden, Patricia Zengerle, Alistair Bell Organizations: U.S, Capitol, REUTERS, Rights, Senate, Republican, Russia, Republicans, Jewish State, Internal Revenue Service, IRS, Democrats, Democratic, Democrat, White, Thomson Locations: Washington , U.S, Israel, Ukraine, China

☆ British fiscal headroom an 'illusion' that will not leave room for tax cuts, report says
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Extra fiscal headroom as a result of higher inflation is illusory and will not give any space for tax cuts when British Finance Minister Jeremy Hunt gives a fiscal update later this month, a think tank report said on Monday. The Resolution Foundation's analysis said that higher tax receipts and lower borrowing - both a result of sticky inflation - would increase Britain's fiscal headroom by 13 billion pounds ($16.09 billion), but added this was based on "implausible" public spending plans. That higher inflation is affecting public spending. Public spending will also have to increase more than is currently forecast to protect the budgets of some ministries in real terms in the coming years, the think-tank said. "It's increasingly clear that spending plans pencilled in for after the next election cannot be delivered," Smith said.

Persons: Jeremy Hunt, James, Suella Braverman, Hannah McKay, Hunt, James Smith, Smith, Alistair Smout, Sharon Singleton Organizations: Conservative, REUTERS, British, The Bank of England, Foundation, Thomson Locations: Manchester, Britain

☆ This Russian Suicide Drone Is Blunting Ukraine’s Advance
▼ + stars: | 2023-11-03 | by ( Alistair Macdonald | James Marson | ) www.wsj.com time to read: 1 min

The Lancet drone is playing a key role on the battlefield for Russia. KYIV, Ukraine—One of the scourges of Ukraine’s counteroffensive is an exploding drone with distinctive X-shaped wings that smashes into targets at more than 100 miles an hour. In recent months, Russia’s Zala Lancet drone has repeatedly struck and disabled Ukraine’s Western-supplied armored vehicles that were supposed to break through Russian lines and turn the war decisively in Ukraine’s favor, according to Ukrainian soldiers and officials as well as videos posted on Russian social media.

Persons: Russia’s Locations: Russia, KYIV, Ukraine

☆ Elon Musk and Rishi Sunak chat China, killer robots and the meaning of life
▼ + stars: | 2023-11-03 | by ( Alistair Smout | ) www.reuters.com time to read: +3 min

Musk backed China's inclusion in the first AI Safety Summit, hosted at Bletchley Park, England, which has drawn leading companies and nations together to agree initial steps on how to manage the risks of cutting-edge AI models. Musk, who was in May given royal-like treatment during a visit to China, welcomed that Beijing had participated in AI safety talks at the event. Britain's Prime Minister Rishi Sunak attends an in-conversation event with Tesla and SpaceX's CEO Elon Musk in London, Britain, Thursday, Nov. 2, 2023. Kirsty Wigglesworth/Pool via REUTERS Acquire Licensing Rights"We very much have a tax system that supports that," Sunak said. Reporting by Alistair Smout; Writing by William James; Editing by Paul Sandle and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Billionaire Elon Musk, Rishi Sunak, Musk, they're, Sunak, Tesla, Elon Musk, Kirsty Wigglesworth, Alistair Smout, William James, Paul Sandle, Jamie Freed Organizations: Billionaire, British, Safety, Bletchley, Britain, SpaceX, Britain's, REUTERS Acquire, Thomson Locations: Beijing, Britain, United States, London, Bletchley Park, England, China, London's

☆ Best son ever Jeff Bezos is moving to Miami to be near his parents, definitely not to avoid taxes
▼ + stars: | 2023-11-03 | by ( Katie Notopoulos | Alistair Barr | ) www.businessinsider.com time to read: +5 min

Jeff Bezos announced he is moving from Seattle to Miami, in part to be close to his parents. Moving from Washington state to Florida could save Bezos a yachtload in taxes. Now, he's off to Miami where there's no capital gains tax and zero state income tax. They don't worry too much about income tax, but they do focus a lot on capital gains tax. Those holdings will probably be exposed to capital gains tax, too.

Persons: Jeff Bezos, Bezos, fiancé Lauren Sanchez, —, Miguel Bezos, Jeff, Lauren, Miami, McKenzie Scott, Brad Stone's Organizations: Service, Seattle, Miami Palmetto, GO, Amazon, SEC, Tech Locations: Seattle, Miami, Creek , Florida, Washington, Florida, , Florida, Biscayne, Amsterdam, New York City, California , New York, Texas

☆ Israel strikes ambulance in Gaza City, many reported killed
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +3 min

GAZA, Nov 3 (Reuters) - Israel struck an ambulance in Gaza City on Friday that it said was carrying militants, but which health authorities in the Hamas-controlled enclave said was evacuating wounded people from the besieged north to the south of the territory. Ashraf al-Qidra, spokesperson for the health ministry in Gaza, said the ambulance was part of a convoy that Israel targeted leaving al-Shifa Hospital, adding that "a big number" were killed and wounded but without giving figures. Qidra said Israel had targeted the convoy of ambulances in more than one location, including at al-Shifa Hospital gate and at Ansar Square a kilometer (0.6 miles) away. [1/4]Palestinians pull an ambulance after a convoy of ambulances was hit, at the entrance of Shifa hospital in Gaza City, November 3, 2023. Hamas and al-Shifa hospital authorities have denied the facility is used as a base by militant fighters.

Persons: Ashraf al, Qidra, Israel, Tedros Adhanom Ghebreyesus, Anas, Nidal al, Angus McDowall, Alison Williams, Alistair Bell, Sandra Maler Organizations: Shifa, Health, REUTERS, Reuters, Thomson Locations: GAZA, Israel, Gaza City, Gaza, Shifa, Egypt, al

China's delegate to the meeting, Vice Minister of Science and Technology Wu Zhaohui, was present on Thursday, his ministry said on Friday. The Chinese technology ministry declined to say why China did not agree to the proposal, which was about AI model testing. British Prime Minister Rishi Sunak chaired Thursday's meeting that comprised "a small group of like-minded senior representatives from governments around the world", Britain said, including the U.S. vice president and the EC president. Some British lawmakers had criticised China's participation in the inaugural AI summit. Sunak told reporters: "Some said we shouldn't even invite China, others said we would never get an agreement with them.

Persons: Ursula von der Leyen, Kamala Harris, Rishi Sunak, Giorgia Meloni, Antonio Guterres, Yoshua Bengio, Mila, Microsoft Brad, Technology Wu Zhaohui, Wu, Oliver Dowden, Sunak, Paul Sandle, Brenda Goh, Alistair Smout, Cynthia Osterman Organizations: Italy's, UN, Quebec AI Institute, Microsoft, Safety, Science, Technology, Bloomberg, U.S, European Union, Thomson Locations: British, SHANGHAI, LONDON, China, Britain, Beijing, Bletchley Park, England, United States, Bletchley, London, Shanghai

☆ British PM Sunak discusses free trade deal in call with India's Modi
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: 1 min

LONDON, Nov 3 (Reuters) - British Prime Minister Rishi Sunak on Friday agreed with his Indian counterpart Narendra Modi on the importance of securing an "ambitious" trade deal, as talks continue over a deal which could be finalised this year. "The leaders discussed recent progress on Free Trade Agreement negotiations. They agreed on the importance of securing an ambitious deal that benefited both sides," a spokeswoman for Sunak's office said in a readout following the call with Modi. Reporting by Alistair Smout; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Narendra Modi, Modi, Alistair Smout, Alison Williams Organizations: British, Free, Thomson

☆ Trump calls people imprisoned for U.S. Capitol attack 'hostages'
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Republican presidential candidate and former U.S. President Donald Trump salutes during the national anthem at a campaign rally in Houston, Texas., U.S. November 2, 2023. REUTERS/Callaghan O'Hare Acquire Licensing RightsNov 3 (Reuters) - Former President Donald Trump on Thursday referred to people imprisoned for the Jan. 6, 2021, attack on the U.S. Capitol as "hostages," during a campaign rally, his latest move to embrace his supporters involved in the riot. At the beginning of the event, Trump stood saluting as a song by men who were incarcerated for their role in the attack was played. It features Trump reciting the Pledge of Allegiance and the imprisoned men singing "The Star-Spangled Banner," the national anthem of the United States. Trump has promoted the song before, but his use of the word "hostage" marks his latest effort to portray people involved in the attack as martyrs.

Persons: Donald Trump, Callaghan O'Hare, Trump, Joe Biden, Nathan Layne, Susan Heavey, Scott Malone, Alistair Bell Organizations: REUTERS, U.S, Capitol, Democratic, Republican, Thomson Locations: Houston , Texas, Houston, United States, Wilton , Connecticut, Washington

☆ The biggest debate in tech
▼ + stars: | 2023-11-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the tech industry's debate over whether AI poses a real threat to humanity. The big storyBig Tech's big lieAP Photo/Julia Nikhinson; Arantza Pena Popo/InsiderWant to get someone in tech riled up? The private event, which had an exclusive guest list, has been criticized for favoring Big Tech executives over actual AI experts. "When big tech companies, big startups, and powerful VCs start calling for regulation of their hottest new technology, something is very wrong," Alistair Barr, Insider's global tech editor, told me.

Persons: —, Heidi Klum's, Klum, Julia Nikhinson, Arantza Pena Popo, Andrew Ng, Ng, Big, BlackRock's Larry Fink, Spencer Platt, Elon Musk, Alistair Barr, It's, Alistair, Insider's Beatrice Nolan, Sam Bankman, Aaron Schwartz, Stanley Druckenmiller, Druckenmiller, Tyler Le, SBF, Wendy Lee, Alba Santaliestra, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Fed, Tech, Google, Australian Financial, Big Tech, Getty Images Tech, Wired, Xinhua, Getty, Market, Apple, YouTubers, YouTube, Mexico City Locations: Israel, Muertos, Mexico, New York City, San Diego, London, New York

Twelve Democrats voted with 214 Republicans for the bill, and two Republicans joined 194 Democrats in objecting. Republicans have a 221-212 majority in the House, but Biden's fellow Democrats control the Senate 51-49. To become law, the bill would have to pass both the House and Senate and be signed by Biden. The nonpartisan Congressional Budget Office on Wednesday said the IRS cuts and Israel aid in the House bill would add nearly $30 billion to the U.S. budget deficit, currently estimated at $1.7 trillion. After the vote, Johnson urged the Senate and White House to quickly approve the bill.

Persons: Mike Johnson, Joe Biden, Chuck Schumer, Biden, Schumer, Kay Granger, Nathan Howard, Rosa DeLauro, Johnson, Patricia Zengerle, Makini Brice, Scott Malone, Mark Porter, Alistair Bell, Chris Reese Organizations: U.S . House, Republican, Internal Revenue, Republicans, Israel, Internal Revenue Service, Democratic, Senate, U.S, Capitol, REUTERS, White, Twitter, Thomson Locations: Israel, Iran, Ukraine, Taiwan, Washington , U.S, Gaza City, Kyiv, U.S, Mexico

☆ New US House Republican speaker faces early test on government funding
▼ + stars: | 2023-11-01 | by ( David Morgan | ) www.reuters.com time to read: +5 min

Newly elected Speaker of the House Mike Johnson (R-LA) takes his oath of office after he was elected to be the new Speaker at the U.S. Capitol in Washington, U.S., October 25, 2023. "This will be a litmus test," said Representative Ryan Zinke, a Republican who sits on the House committee that sets spending priorities. With a similar use of previously allocated money, House Republicans would spend a net $65.2 billion on transportation, housing and urban development, 25% below current levels. Even if passed, the House Republican bills have no chance of succeeding in the Democratic-led Senate or being signed into law by Democratic President Joe Biden. While the House has focused on passing spending bills with only Republican votes, the Senate has worked on measures that have bipartisan support.

Persons: Mike Johnson, Elizabth Frantz, Republican Mike Johnson, Johnson's, Don Bacon, Johnson, Israel, Chuck Schumer, Schumer, Ryan Zinke, Kevin McCarthy, Kelly Armstrong of, Joe Biden, Bob Good, Bacon, David Morgan, Scott Malone, Alistair Bell Organizations: U.S, Capitol, REUTERS, Rights, Republican, U.S . House, Department of, Hamas, Ukraine, Internal Revenue Service, Social Security, Democratic, Republicans, Environmental Protection Agency, Senate, Thomson Locations: Washington , U.S, Louisiana, Nebraska, Israel, Kelly Armstrong of South Dakota, Virginia

☆ Tesla's enduring power is even clearer after the EV competition in Detroit falls flat
▼ + stars: | 2023-10-31 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementThe traditional auto industry has had more than a decade to build viable electric vehicle businesses. Again, maybe the traditional auto companies get a pass. WeWork-level lossesFord's EV business lost $1.3 billion, before interest and taxes, in the third quarter of 2023 – on just $1.8 billion of revenue. Detroit has responded with EV price cuts to try to compete with Tesla. Its auto business had a gross profit margin of more than 16% in Q3.

Persons: Tesla, —, Ford, Elon, haven't, China's BYD, Goldman Sachs, Kelley, Mercedes, Price Organizations: Ford, GM, Service, General Motors, Toyota, Honda, Wall Street, EV, Detroit, Mercedes, Benz, Tesla, LG Energy, Auto Locations: Detroit

[1/4] People leave with goods from a supermarket that had been broken into in the aftermath of Hurricane Otis, in the outskirts of Acapulco, Mexico, October 26, 2023. Mexico has sent some 17,000 members of the armed forces to keep order and help distribute tons of food and supplies in Acapulco. "The 15 billion (pesos) should go the victims in Acapulco," Lopez Obrador told reporters during a regular press conference, referring to the funds held in the trusts. Mexico has scrambled to send supplies and keep order in Acapulco, where residents are still searching for missing loved ones since the Category 5 hurricane barreled ashore. Lopez Obrador, who has vigorously rebuffed criticism of the government's response to the hurricane, had said he expected electricity to be fully restored in Acapulco by Tuesday.

Persons: Hurricane Otis, Alexandre Meneghini, Andres Manuel Lopez Obrador, Lopez Obrador, Guerrero, Otis, Jose Cortes, Josue, Stefanie Eschenbacher, Dave Graham, Alistair Bell, Jonathan Oatis Organizations: REUTERS, Rights, Senate, Tuesday, Thomson Locations: Hurricane, Acapulco, Mexico, Rights ACAPULCO, Guerrero

[1/4] People leave with goods from a supermarket that had been broken into in the aftermath of Hurricane Otis, in the outskirts of Acapulco, Mexico, October 26, 2023. Hurricane Otis last week hit Acapulco with winds of 165 miles per hour (266 km per hour), flooding the city, flipping roofs from homes and businesses, submerging vehicles, and severing communications as well as road and air connections. Mexico has sent thousands of armed forces members to keep order and help distribute tons of food and supplies. Acapulco residents are still searching for missing loved ones since the Category 5 hurricane hit with unexpected ferocity, far exceeding meteorologists' initial forecasts. State power utility CFE said on Tuesday morning one in four users in Guerrero hit by Otis was still without power.

Persons: Hurricane Otis, Alexandre Meneghini, Jose Luis Martinez, Andres Manuel Lopez Obrador, Abraham Moises Cano, Cano, Lopez Obrador, Guerrero, Otis, Jose Cortes, Josue, Casssandra Garrison Stefanie Eschenbacher, Dave Graham, Alistair Bell, Jonathan Oatis, Grant McCool Organizations: REUTERS, Rights, National Guard, Senate, Tuesday, Thomson Locations: Hurricane, Acapulco, Mexico, Rights ACAPULCO, del Sol, overpaid, Guerrero, Mexico City

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