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☆ How much is Usher earning from his Super Bowl halftime show performance?
▼ + stars: | 2024-02-10 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

More than 100 million people tune in to the Super Bowl yearly, but the halftime show performers are not typically paid any more than SAG-AFTRA's minimum union rate. AdvertisementFirst are the checks for endorsement deals, particularly for ads and campaigns around the Super Bowl. Lady Gaga saw album and song sales skyrocket 1,000% on the day of her Super Bowl gig in 2017, Billboard reported. In past years, StubHub has reported that search traffic has jumped as high as 50% for halftime show acts following the Super Bowl. So, Usher, go get that money, money, money.

Persons: —, Usher, He'll, He's, Kim Kardashian's, Rihanna, Lady Gaga, StubHub, he's, we've, Taylor Swift, Beyoncé — Organizations: Service, Super, SAG, Business, NFL, Apple Music, BMW, Bowl, Billboard

☆ Celebrities are paid a shocking amount for 30-second Super Bowl ads
▼ + stars: | 2024-02-09 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +8 min

Los Angeles CNN —After Ben Affleck appeared as a Dunkin’ drive-thru worker in a Super Bowl commercial last year, the breakfast chain’s sales exploded. “They sold more donuts the next day than any other day in their history,” an individual close to the Dunkin’ Super Bowl campaign told CNN. Affleck was paid close to $10 million dollars for last year’s Dunkin’ Super Bowl commercial, three sources with knowledge of the partnership told CNN. It’s rare for someone that you think of as a true movie star to be paid less than a million.”Most Super Bowl shoots are usually one to two days, the agent added. Even though we’ve got over 30 celebrities in the Super Bowl this year, we had over 70 offers.

Persons: Ben Affleck, Dunkin, “, Affleck, ” Scott Murphy, Dunkin ’, Affleck’s Dunkin, Matt Damon, Larry David, Sam Bankman, David, Michael Lewis, Jennifer Aniston, ”, David Schwimmer, Uber, Chris Pratt, Pringles, Jason Momoa, Martin Scorsese, Tim Curtis, Peter DeLuca, Zach Braff, Donald Faison, John Travolta, Jennifer Beals, Tina Fey, John Cena, Usher, it’s, we’ve, Curtis, ” Curtis, “ You’ve, —, Aniston, Schwimmer, Jelly Roll, David Beckham Organizations: Los Angeles CNN, Bowl, “, CNN, Boston, Equity, Eastern Congo Initiative, Artists Equity, Super, Hollywood, WME, Mobile, Super Bowl, BMW, CBS Locations: Hollywood, Victoria

☆ How a Dior bag shook South Korean politics
▼ + stars: | 2024-02-09 | by ( Yoonjung Seo | Nectar Gan | ) edition.cnn.com time to read: +15 min

Seoul, South Korea CNN —South Korean President Yoon Suk Yeol is months out from a crucial election seen as a barometer of his mid-term popularity, but surveys show he has a big problem – the latest scandal surrounding his wife. “But with the Dior bag, there is this powerful visual evidence.”South Korean President Yoon Suk Yeol and his wife, Kim Keon Hee, attend an Independence Movement Day event in Seoul on March 1, 2023. The channel also provided Choi with the wristwatch and the Dior bag, according to the pastor. By appearing to not reject the bag, Kim gave ammunition to critics who have long accused her of using her position for personal gain. In a Gallup Korea survey last month, 56% of respondents said Kim should apologize for allegedly receiving the Dior bag.

Persons: Yoon Suk Yeol, Kim Keon Hee, Yoon, Kim, Dior, “, ”, Cho Hee, Jung Yeon, Choi Jae, Choi, Yoon Suk, ” Yoon, Shin Pyeong, ’, Cho, it’s, Hongik University Choi, Kim Yun, Park, hye, Patrick van Katwijk, Marie Antoinette, Han Dong, Han, he’d, Leon Neal, ” Kim, ” Kim Yun, Kyung Hee University “ She’s, Deutsch, Kim’s Organizations: South Korea CNN — South, CNN, Hongik University, “, Getty, of, KBS, Kyung Hee University . South, Gallup Korea, Gallup, Power Party, Democratic Party, PPP, South, Kyung Hee University, Kookmin University, Deutsch Motors, BMW Locations: Seoul, South Korea, American, of Seoul, North Korea, Pyongyang, Netherlands, Gallup Korea, Bali , Indonesia, Korea

☆ Wheely, Uber's luxury competitor, launches in Dubai to take on the UAE's dominant player
▼ + stars: | 2024-02-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

The company, founded by Russian-Swiss entrepreneur Anton Chirkunov, told CNBC it will offer rides in the United Arab Emirates city starting Wednesday, catering mainly to wealthy clients. "European families and entrepreneurs have been moving to Dubai in the last five years," Chirkunov told CNBC in an interview ahead of the launch. Wheely's platform is tailored more toward mass market usage, however, and Chirkunov thinks his platform has an opportunity to stand out. He compares the Wheely brand to the American Express Centurion and Platinum membership credit cards in terms of brand status. Wheely plans to expand its Middle East team and chauffeur network to over 1,000 in the next three to five years, the company told CNBC exclusively.

Persons: Shariff, Covid, Anton Chirkunov, Wheely, That's, Mercedes, Chirkunov, it's, chauffeurs, Duke of Northumberland, Covid lockdowns Organizations: Russian, CNBC, United Arab Emirates, BMW, Benz, Tesla, American Express, Mercedes, East, Companies Locations: Dubai, Swiss, Europe, London, Mayfair, City of London, Wheely, Paris

☆ Super Bowl commercials 2024: Crypto and AI are out, insurance and mayo are in
▼ + stars: | 2024-02-02 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —For many, the Super Bowl is a three-hour showcase of ads with a football game shown occasionally during the breaks. that previously used the game to “either generate awareness or establish some form of legitimacy by having a Super Bowl ad,” Hardart said. Her star power makes the Super Bowl somehow an even bigger deal, particularly to some people who might not have cared to watch the game in the past. and L’Oreal’s NYX makeup buying ads for the first-time and Dove Body Wash returning to the Super Bowl after an absence of nearly 20 years. “The game between two well-known and well-liked teams, paired with the attendance of Swift could lead this to be the largest Super Bowl audience in years,” he predicts.

Persons: Paul Hardart, New York University’s, “, ” Hardart, it’s, Bud Light, Taylor Swift, She’s, Chiefs, Travis Kelce, Hardart, ” That’s, Swift, ” Organizations: New, New York CNN, San Francisco 49ers, Kansas City Chiefs, New York, New York University’s Stern School of Business, CNN, CBS, Farm, BMW, “, Super Locations: New York, Japan, Las Vegas

☆ Lego is leaning into the $6.7 billion 'kidult' economy, through collabs with F1 and Pharrell, and by providing ideas for date night
▼ + stars: | 2024-02-01 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "We are noticing a shift, but we are also driving it," Lego Chief Product and Marketing Officer Julia Goldin told Business Insider of the "kidult" trend. This story is available exclusively to Business Insider subscribers. Lego will be putting further efforts around its botanical range around key occasions in 2024, Goldin said. In October, Pharrell Williams biopic, "Piece by Piece," will be released to movie theaters, which will be told using Lego animation.

Persons: —, Julia Goldin, Goldin, Lego, McLaren, Ayrton Senna, Pharrell Williams, Lego Goldin Organizations: Service, Business, Lego, Petronas, BMW, Mercedes

☆ Microsoft and OpenAI are in talks to inject $500 million into humanoid robotics startup Figure AI, report says
▼ + stars: | 2024-01-31 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Microsoft and OpenAI could be investing in a humanoid robotics startup, Bloomberg reported. The companies might be putting up to $500 million in Figure AI, the report says. AdvertisementMicrosoft and OpenAI are said to be exploring options to invest up to $500 million in a humanoid robotics startup, Bloomberg reported. OpenAI has previously invested in another humanoid robot startup called 1X Technologies, per Bloomberg. Figure AI was founded in 2022 by CEO Brett Adcock, per an Axios report.

Persons: —, OpenAI, It's, Brett Adcock, He's, Jim Fan Organizations: Microsoft, Bloomberg, BMW, Service, Technologies, Boston Dynamics, Robotics, Nvidia, Business Locations: Tesla, LLMs

☆ Toyota tells drivers of 50,000 cars to get immediate repairs because their airbag inflators could explode
▼ + stars: | 2024-01-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewToyota has told drivers of around 50,000 of its vehicles in the US to get urgent repairs over fears that their airbag inflators could explode, causing "serious injury or death." This story is available exclusively to Business Insider subscribers. Takata airbag inflators have been linked to more than 30 deaths and hundreds of injuries since 2009, and have been responsible for the largest safety recall in automotive history. AdvertisementToyota did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: — Organizations: Service, Business, Toyota, BMW, Daihatsu

☆ Want to invest in China's booming EV market? These ETFs could offer a good way in
▼ + stars: | 2024-01-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As China's electric vehicle market goes from strength to strength, investors worldwide are showing a growing interest in getting involved. The chief investment officer singled out BYD , which recently beat Tesla to become the top global EV maker, as a "favorite" car maker, and battery-making giant Contemporary Amperex Technology ( CATL ). But significant hurdles remain for retail investors before they can be part of China's EV growth story. However, the veteran investor pointed out that ETFs with concentrated positions remain viable options for those seeking exposure to the Chinese EV growth potential. The fund also has a 5% position in Chinese EV maker BYD, according to FactSet data.

Persons: Kingsley Jones, Jevons, CNBC's, BYD, Tesla, Kingsley, Li Auto, BATT, Jones, BATT CGRO Organizations: Jevons Global, Technology, BMW, Hyundai, Honda, China EV, Battery Technology, China Growth, BATT, BYD, CNBC, Alpha, CGRO Locations: Hong Kong, China, U.S, Europe, BYD, Australia, Canberra, Xiaomi

☆ Elon Musk wants to sell more Teslas in Japan. Here's why that could be tricky.
▼ + stars: | 2024-01-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Read previewBack in 2010, Elon Musk predicted that Japan would become Tesla's largest market outside of the US. "There are some geographies where our market share is remarkably low, like Japan," Musk said in a fourth-quarter earnings call earlier this week. Akio Toyoda has been skeptical of the benefits of EV cars. Tomohiro Ohsumi/Getty ImagesThat hesitancy has also held back the development of charging infrastructure — there are only about 30,000 EV charging connectors in the whole country — and kept price tags higher. But Japanese carmakers do have some plans to boost their EV efforts.

Persons: —, Elon Musk, Musk, Tesla, Suzuki, Nissan Sakura, Tatsuo Yoshida, Akio Toyoda, Ohsumi Organizations: Service, Business, BMW, Toyota, Honda, Nissan, Bloomberg, Bloomberg Intelligence, New York Times Locations: Japan, Europe

☆ Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +8 min

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was "impacting everyone and something we're very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was "only mildly impacted by the transit challenges in the Red Sea."

Persons: It's, Petersen, Ryan Petersen, Clifton Broumand, Broumand, it's, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti Organizations: Galaxy, Houthis Media, Getty, Machine, Hamas, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer Urban Outfitters, Free People Locations: Iran, Yemen, Anadolu, Greater Landover , Maryland, Taiwan, China, Gaza, Panama, Asia, Europe, United States, Suez, Africa, Ukraine, Belgium, Germany, British, Maryland, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was “impacting everyone and something we’re very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was “only mildly impacted by the transit challenges in the Red Sea."

Persons: What’s, Ryan Petersen, Petersen, It’s, Clifton Broumand, Broumand, —, ”, “, it’s, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, it's, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti, ____ Anderson, Kelvin Chan, Anne D'Innocenzio, Yuri Kageyama, Tom Krisher, David McHugh Organizations: WASHINGTON, —, Hamas, Machine, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer, Free People, AP Business Locations: Belgium, Germany, British, Maryland, Asia, Ukraine, Yemen, Gaza, Europe, United States, Suez, Africa, “, Panama, Greater Landover , Maryland, Taiwan, China, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India, New York, London, Tokyo, Detroit, Frankfurt

☆ Elon Musk's optimism about Optimus might be misplaced
▼ + stars: | 2024-01-25 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Elon Musk has been bigging up Tesla as a robotics powerhouse, highlighting its humanoid bot, Optimus, as a gleaming example of its sophisticated technology. It's possible, however, that Musk is being a tad over-optimistic in his humanoid robot ambitions, particularly regarding its delivery timeline. In true Musk fashion, he made some grand claims about Optimus in the investors' call. It's the most sophisticated humanoid robot that's been developed anywhere in the world." He said, "It should be impossible for any centralized control to upload malware to a humanoid robot."

Persons: Elon Musk, Tesla, there's, Optimus, Walter Isaacson, Musk, Tesla's, Brett Adcock Organizations: Service, Business, SpaceX, Optimus, German, BMW, Robotics, Amazon, Tesla Locations: Mars

☆ Not even Tesla can dodge the EV sales slowdown
▼ + stars: | 2024-01-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

While EV sales are continuing to grow, they are doing so at a slower pace, research shows. Elon Musk warned a slowdown in sales growth was coming when Tesla reported earnings on Wednesday. The Warren Buffett-backed EV maker, which sells its vehicles in more than 60 countries and recently overtook Tesla on global EV sales, put an early focus on affordable models such as the $10,000 Seagull. EV sales surged 40% year-on-year in the last three months of 2023 —a "strong result by any measure," as the industry research noted. Aran Waid, senior analyst at Benchmark Mineral Intelligence, said growth in EV sales globally was continuing but that it had "fallen short of automaker expectations."

Persons: Tesla, —, Elon Musk, Musk, China's BYD, Warren Buffett, BYD, Kelley, Aran Waid, Josh Lefkowitz, Mary Barra, Nora Naughton, Suzuki Organizations: EV, Service, Tesla, Getty Images, Benchmark Mineral Intelligence, Ford, General Motors, Hertz, BMW, Toyota, Honda, Nissan Locations: Europe, Japan

☆ This Swiss auto parts maker's stock could soar by 75%, Vontobel says
▼ + stars: | 2024-01-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Switzerland-listed car parts manufacturer Autoneum's share price could increase by over 70% in the next year, according to Vontobel. The investment bank raised its price target on Autoneum to 215 Swiss francs ($248), representing a potential 74% upside from the current share price of 123.80 francs. However, Autoneum's organic sales grew only 7.2%, lagging the broader recovery, according to the car parts maker's full-year revenue results, released Monday. CHF= 1Y line When excluding negative currency effects that lowered sales by 7.2%, Autoneum's 2023 revenue was 2.43 billion Swiss francs, meeting the company's own guidance. In contrast to Vontobel's bullish outlook, Swiss bank UBS has a neutral view of the stock, with a price target of 110 CHF — 10% below the current share price.

Persons: Vontobel, Arben Hasanaj Organizations: BMW, Ford, Renault, Mercedes, GM, Volvo, UBS, — Locations: Switzerland, Zurich, Asia, Swiss

☆ Today's GenAI models are cost and energy pigs. Quantum tech could fix that.
▼ + stars: | 2024-01-19 | by ( Julie Bort | ) www.businessinsider.com time to read: +7 min

Zapata, a startup spun out of Harvard, uses quantum physics math to train GenAI models with less data. AI models must be regularly fed. AI models also require hefty, energy-consuming GPU chips. Since founding that year, Zapata has 18 patents and patents pending on its AI tech, it says. And quantum tech could be among the alternatives.

Persons: Zapata, Andretti, —, Guido Appenzeller, Christopher Savoie, Mario, Michael Andretti's SPAC, it's, GenAI Zapata, OpenAI, hasn't Organizations: Andretti Racing, Service, America, Intel's Data, CNBC, Nvidia, Andretti Global, Andretti, Corp, Zapata, BMW, Computer, Fujitsu, Google, IBM, Meta, Microsoft, Comcast Ventures, Ventures, Bloomberg Locations: Harvard, Zapata, Savoie

LA QUINTA, Calif. (AP) — Sam Burns shot the best round of his life with “RTR” shaved into the side of his head. Burns fired a career-low 61 on Friday to take a one-shot lead over Michael Kim and a two-shot lead on Dunlap at The American Express. While Burns was at 17-under 127 after his second straight impressive round, Dunlap and South Korea’s K.H. Burns shot 62 at the BMW Championship last season and at the Byron Nelson in 2021. He used that familiarity with the American Express courses to shoot 65-63 in the first two rounds, including six birdies on the back nine of the Nicklaus course Friday.

Persons: — Sam Burns, ”, Justin Thomas, Nick Dunlap, Burns, sizzling, Michael Kim, Dunlap, K.H, Lee, Tiger Woods, ” Dunlap, “ I've, Phil Mickelson, “ It’s, ” Burns, didn’t, Byron Nelson, Nicklaus, Thomas, gleeful, “, Nick, Saban’s, ” Kim, Kim, Alex Noren, Zach Johnson, Bob Hope, David Duval, Adam Hadwin, ___ Organizations: LSU, The American Express, Dunlap, Tiger, U.S . Amateur, U.S . Junior, PGA, BMW, La Quinta, Louisiana, Southern California's, American Express, Nicklaus, Palmer, La Quinta Country, Hadwin Locations: QUINTA, Calif, Alabama, Coachella, Dunlap, Tucson , Arizona, Nos, La, Louisiana, Palm Springs, San Diego, Sweden

☆ BYD: Why Hungary and Mexico could be key to the Chinese carmaker’s global domination
▼ + stars: | 2024-01-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +9 min

The cars come from BYD, the Chinese carmaker that is backed by Warren Buffett and has surpassed Tesla as the world’s biggest seller of electric vehicles (EVs). 1," a shipping carrier vessel intended to export BYD vehicles, at Yantai port in eastern China's Shandong province in January. BYD Mexico did not respond to a request for comment. “The US government is not going to like that Mexico is creating a back door.”A BYD electric vehicle, operated by Vemo taxi, in Mexico City in November. But as it continues to grow overseas, BYD will have to take a more localized approach, analysts say.

Persons: Warren Buffett, Tesla, BYD, Viktor Orbán’s, Yucatán, what’s, Elon Musk, Tu Le, carmaker, Hungary —, Matthias Schmidt, ”, “, Schmidt, Bill Russo, it’s, Le, Mariceu Ethrall, It’s, “ It’s, ‘ We’re, ’ ”, Stella Li, México, ” Li, Wang Chuanfu, BYD “, Russo, they’ve, ” Russo Organizations: Hong Kong CNN, Xinhua, Getty, CNN, Tesla, BMW, Audi, European Union, Schmidt Automotive Research, EV, European Commission, Bloomberg, BYD, El Locations: Hong Kong, China, Europe, BYD, Shenzhen, Germany, Netherlands, Hungary, Mexico, North America, China's Shandong, Szeged, Komárom, France, Shanghai, Hungarian, United States, Canada, Mexico City, Mexican, Dutch, Rotterdam, California, Brazil, Indonesia, Thailand, Uzbekistan, Macao, Taiwan, Japan, what’s

☆ I worked with Steve Jobs as a software engineer straight out of college. It was like playing on a great sports team.
▼ + stars: | 2024-01-18 | by ( Kiera Fields | ) www.businessinsider.com time to read: +10 min

Rony Sebok got a job at Apple straight out of Harvard in 1983 working on the Mac team. She worked with a small team of software engineers under the direction of Steve Jobs. Interviewing for the Mac team didn't follow the traditional approachAt the time, this was a top-secret project. Steve Jobs once came into my cubicle and asked, "Don't you own a pair of blue jeans?" AdvertisementMacintosh software team photographed in January 1984 for a Rolling Stone article.

Persons: Rony Sebok, Steve Jobs, Sebok, Jobs, —, Steve, I'd, Bill Gates, alums, Lisa teams, Windham, Steve didn't, Susan Kerr, John Sculley, Lisa, OpenAI Organizations: Apple, Harvard, Mac, Service, Macintosh, Computer Science, Microsoft, IBM, BMW, Windham Hill, Polaroid, Mercury, Getty, HP, Havard Business School, Google Locations: East Coast, West, Cupertino, Hawaii, Apple

☆ Teslas crash more than gas-powered cars. Here’s why
▼ + stars: | 2024-01-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

Hertz CEO Stephen Scherr noted that the costs of repairs of an electric vehicle are also much higher. Scherr’s statements echoed findings by insurance analysts at LexisNexis who found that, when vehicle owners switch from gasoline-powered cars to electric cars, they tend to crash more. Drivers also tend to crash somewhat more when switching to gas-powered vehicles, too, but the increase is more pronounced with EVs. Mostly a Tesla thingIn both cases – with Hertz and with LexisNexis – “electric vehicles” largely means Teslas. That suggests there may be something about Teslas that’s causing people to crash more than other cars.

Persons: CNN — Hertz, Stephen Scherr, Teslas, Xiaohui Lu, Lu, Tesla, ” Organizations: CNN, Hertz, EV, LexisNexis, Drivers, Data, Tesla, BMW Locations: China, US

☆ Somali president’s son convicted for fatal collision in Turkey, but spared jail time
▼ + stars: | 2024-01-17 | by ( Scott Mclean | ) edition.cnn.com time to read: +7 min

CNN —The son of Somalia’s president was convicted in an Istanbul courtroom but spared jail time over a collision that killed a motorcycle courier in the city, in a case that has drawn anger and demands for justice across Turkey. Iyaz Cimen, the lawyer representing Gocer’s family, told CNN that his clients had agreed to drop their formal complaint against Mohamud. Cimen, the lawyer representing Gocer’s family, told CNN in December that Mohamud had left the country on December 2, before the warrant was issued. President Mohamud told the AP he was sorry for Gocer’s family for his loss, and said that he has advised his son to go back to Turkey for court proceedings. Last month, he told CNN Turk that his client was not speeding or under the influence of alcohol or drugs at the time of the collision.

Persons: Hassan Sheikh Mohamud, ”, Yunus Emre Gocer, Mohamud, Iyaz Cimen, Gocer, Cimen, Ekrem Imamoglu, Yilmaz Tunc, “, Musaeed Ahmed Musaeed Hussein, Yemen’s, Ahmed Musaeed Hussein, Hussein, Pakize Ozer, CNN Turk, Ozer, Kerim Bahadır Organizations: CNN, TRT Haber, TRT, Mohamud, BMW, Traffic, Department, Forensic Medicine Institute, ” CNN, Associated Press, AP, Anadolu Locations: Istanbul, Turkey, Turkish, Istanbul’s, Somali, Ankara, Anadolu, “

☆ Global Battery Race Heats Up With Billions for Europe’s Northvolt
▼ + stars: | 2024-01-16 | by ( Amrith Ramkumar | William Boston | ) www.wsj.com time to read: 1 min

One of the world’s most valuable battery startups is raising $3.4 billion in debt from the European Union and a group of banks including JPMorgan Chase , accelerating a race to build more batteries outside China and take advantage of a tidal wave of clean-energy subsidies. Europe’s Northvolt plans to use the funding to grow battery production at a factory in northern Sweden for customers such as Volkswagen and BMW . It also plans to expand a recycling facility next door that will convert scrap metal and old batteries into reusable battery materials.

Persons: Northvolt Organizations: European Union, JPMorgan Chase, Volkswagen, BMW Locations: China, Sweden

☆ I grew up always wanting to drive my own car. But I'm from the world's most expensive city to live in, and now I know I never will.
▼ + stars: | 2024-01-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +12 min

AdvertisementFor car buyers, the COE is an extra cost that can easily eclipse the actual price of a car. These BMW family cars cost around $103,000 in 2017. COE prices went up to $67,000 that year for lower-end cars, despite more than 13,000 certificates being made available. On Thursday, COE prices for lower-end cars fell to about $48,000, a steep drop that shocked the market. Meanwhile, while unpopular, Singapore's COE prices are working for now.

Persons: —, Mikel Bilbao, Edgar Su, Reuters They've, EDGAR SU, Walter Theseira, Theseira, Singapore's, We've, ROSLAN RAHMAN, we've, Aditya Irawan, it's, they're, Benjamin Loo Organizations: Service, Volvo, Volkswagen, Hyundai, VW, Getty, COE, BMW, Reuters, Toyota Corolla, Singapore University of Social Sciences, ROSLAN RAHMAN Singapore, Yokohama JR Line, The New York Times, Uber, Temasek Holdings, CarTimes, Straits Times Locations: Singapore, European, New York City, Tokyo, Yokohama, New York, Asia, Jakarta, Bangkok, Kuala Lumpur

☆ Want to work in climate? Look to Georgia and the Carolinas
▼ + stars: | 2024-01-04 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

That figure reflects planned projects in Georgia, South Carolina, North Carolina, Tennessee, and Kentucky. Brian Kemp of Georgia, Roy Cooper of North Carolina, and Henry McMaster of South Carolina. Albemarle, which mines lithium, a key component of EV batteries, plans to build processing plants in South Carolina and open new mining operations in North Carolina. In Georgia, companies have announced at least 26 projects that they estimate could create 14,881 manufacturing jobs. Companies in South Carolina project nearly 11,500 jobs, while more than 8,200 jobs are estimated in North Carolina.

Persons: Bob Keefe, Keefe, who's, Brian Kemp of, Roy Cooper of, Henry McMaster of, Kemp, There's Organizations: Companies, Service, Henry McMaster of South, BMW, Hyundai, South, SK, EV, Mining Locations: Georgia, South Carolina, Business, Carolinas, Georgia , South Carolina, North Carolina , Tennessee, Kentucky, China, Asia, Dalton , Georgia, Atlanta, Savannah, Brian Kemp of Georgia, Roy Cooper of North Carolina, Henry McMaster of South Carolina, Spartanburg, Rivian, Georgia . Albemarle, North Carolina

☆ China's Xiaomi unveils its first EV as it looks to compete with Porsche, Tesla
▼ + stars: | 2023-12-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — Chinese consumer electronics company Xiaomi on Thursday detailed plans to enter China's oversaturated electric vehicle market and compete with automaker giants Tesla and Porsche with a car model it says it spent more than 10 billion yuan ($1.4 billion) to develop. Pronounced "Sue Qi" in Mandarin, the Xiaomi SU7 beats Porsche's Taycan and Tesla's Model S on acceleration and other metrics, Lei said during a three-hour presentation Thursday. This is an area of potential advantage for Xiaomi, which is best known for its smartphones and home appliances and previously said it wants to create a "'Human x Car x Home' smart ecosystem." The SU7 is integrated with Xiaomi's smartphones and internet-connected home appliances, Lei announced Thursday. Lei said the vehicle will also be compatible with Apple 's iPhone, iPad, CarPlay and AirPlay.

Persons: Lei Jun, Sue Qi, Porsche's Taycan, Lei Organizations: Tesla, Porsche, BMW, Mercedes, Benz, Apple Locations: BEIJING, U.S

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