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Washington CNN —President Joe Biden and Israeli Prime Minister Benjamin Netanyahu are set to speak on Thursday – a high-stakes meeting that comes at a crossroads for both Israel’s war in Gaza and Biden’s political future. The moment is also crucial as Israel’s operations in Gaza threaten to snowball into a broader regional war, as Israel and Lebanon continue to trade cross-border fire. Speaking in front of Congress this week, Netanyahu did not substantially address the status of ceasefire negotiations. Trump and Netanyahu will meet Friday at Mar-a-Lago in Palm Beach, Florida, Trump announced Tuesday. I’m the guy that made sure that – I got the Egyptians to open the border to let goods through, medicine and food,” Biden said.
Persons: Joe Biden, Benjamin Netanyahu, Netanyahu, Biden, , , ” Netanyahu, Kamala Harris, Israel, Donald Trump, Trump, ” Biden, , CNN’s MJ Lee Organizations: Washington CNN, Israeli, Central Kitchen, US, Democratic, Trump, Networks Locations: Gaza, Israel, Lebanon, America, Palm Beach , Florida
DETROIT – Ford Motor is leading a decline in major U.S. automotive stocks this week amid disappointing results and investor skepticism around future performance. Shares of Ford were off by more than 17% in early trading Thursday – on pace for their worst decline since 2009 – after missing Wall Street's bottom-line earnings expectations due to warranty problems, a reoccurring issue with the company. Shares of General Motors and Stellantis were notably off as well after reporting their results this week. Shares of Tesla , which reported results Tuesday afternoon, were up slightly Thursday after their largest daily decline since 2020 on Wednesday. GM, down roughly 7% this week, outperformed Wall Street's expectations for the second quarter and increased its guidance for the year.
Persons: , Stellantis —, Stellantis, Carlos Tavares Organizations: New York, DETROIT, Ford, General Motors, Tesla, — Ford, GM, NYSE Locations: Detroit
In brief remarks before the meeting, Netanyahu mentioned how the two men have known each other for four decades. Biden also participated in a meeting with Netanyahu that includes families of American hostages in Gaza - a separate setting where he could apply firm pressure on Netanyahu to finalize the ceasefire agreement. After their meeting with the president and Netanyahu, some family members struck an optimistic tone on the prospects of a deal being reached soon. “We got absolute commitment from President Biden and Prime Minister Netanyahu that they understand the urgency of this moment now. However, as CNN reported this week, US and Israeli officials have voiced increased optimism about the prospects of an agreement.
Persons: Joe Biden, Benjamin Netanyahu, Netanyahu, , ” Biden’s, ” Biden, , Biden, Siegel, Alexander, Chen, Naftali, Goldberg, Jonathan Dekel, , ” Netanyahu, Kamala Harris, Harris, Nathan Howard TPX, Nathan Howard, Israel, Donald Trump, Trump, CNN’s Sam Fossum Organizations: Washington CNN, Israeli, CNN, Jewish, State, ” Biden reminisced, Biden, United, Prime, Central Kitchen, US, Democratic, Eisenhower, REUTERS, Trump, Networks Locations: Washington ,, Irish, American, Israel, Gaza, America, Washington , DC, Palm Beach , Florida
In this article GM Follow your favorite stocks CREATE FREE ACCOUNT2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package. 2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package. The 2019 Corvette ZR1 started at $121,000. 2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package (left) and 2025 Chevrolet ZR1. 2025 Chevrolet Corvette ZR1 GMOther performance models have helped to lift Corvette's average transaction price to roughly $106,000.
Persons: it's, GM Juechter, ZR1, Brad Franz, Franz, Morgan Stanley, Adam Jonas, Juechter, Ray Organizations: , Motors, Chevrolet, Detroit, GM, Wall Street, Chevrolet Corvette, Bowling Locations: Bowling Green , Kentucky
But I love my country more,” the president said“It’s been the honor of my life to serve as your president. (Donilon, a former pollster, played an instrumental role in presenting the data that informed Biden’s decision to step aside.) The new CNN poll finds voters widely supportive of both Biden’s decision to step aside and his choice to remain in office through the end of his term. Desire for a new direction is largely concentrated among younger voters and voters of color. But, as one source told CNN, with the decision to drop out of the 2024 race only days old, such discussions have not begun in earnest.
Persons: Joe Biden, Biden, “ It’s, , Donald Trump, ” Biden, , he’s, Kamala Harris, I’ve, who’s, Harris, He’s, laud, Mike Donilon, Biden’s, Jon Meacham, Trump, That’s, Sam Fossum Organizations: Washington CNN, Democratic, Trump, Supreme, White, CNN, Biden, Resolute, America, White House Locations: America, Gaza, Israel, Rehoboth Beach , Delaware, Wisconsin, Indianapolis, Houston, North Carolina, Scranton , Pennsylvania, Claymont , Delaware, United States
The Ford display at the New York International Auto Show on March 28, 2024. DETROIT — Ford Motor is set to report second-quarter earnings after the markets close Wednesday. Ford's second-quarter results last year included $42.43 billion in revenue; net income of $1.92 billion, or 47 cents per share; and adjusted earnings before interest and taxes, or EBIT, of $3.79 billion. Ford's guidance for the year includes adjusted EBIT of between $10 billion and $12 billion and free cash flow of $6.5 billion to $7.5 billion. Ford's stock is up about 15% this year, as pricing in the automotive industry has remained more resilient than expected.
Organizations: New York, DETROIT, Detroit, Motors, Ford Locations: Canadian
Washington CNN —Israeli Prime Minister Benjamin Netanyahu will address Congress on Wednesday – seeking to shore up American support for his war in Gaza and redirect the attention of a nation that has been preoccupied for weeks by a stream of domestic political issues. Netanyahu’s address to Congress comes at a crucial crossroads for the war. Netanyahu, meanwhile, has accused the United States of “withholding weapons and ammunitions to Israel,” claims that American officials flatly rejected. After arriving in Washington earlier this week, Netanyahu met with some American relatives of hostages held by Hamas. Former President Donald Trump and Netanyahu will also meet Friday at Mar-a-Lago in Palm Beach, Florida, Trump announced Tuesday.
Persons: Benjamin Netanyahu, Joe Biden’s, Biden, Donald Trump, Netanyahu, Kamala Harris, Harris, Pro Tempore Patty Murray, Sen, Bernie Sanders, , ” Sanders, , ” Biden, Israel, CNN’s Jeremy Diamond, Jennifer Hansler Organizations: Washington CNN, Israeli, Wednesday, Democratic, Republican National Convention, Pro Tempore, United States Congress, West Bank, Trump Locations: Gaza, Indianapolis, Washington, Vermont, , Israel, United States, Palm Beach , Florida
George Clooney attends an event in September 2023. Cindy Ord/Getty Images/FILEActor George Clooney has announced he is endorsing Kamala Harris for president. “President Biden has shown what true leadership is. We’re all so excited to do whatever we can to support Vice President Harris in her historic quest,” the actor said in a statement provided to CNN. The actor and Democratic donor had penned an op-ed calling on President Joe Biden to exit the race.
Persons: George Clooney, Cindy Ord, Kamala Harris, , Biden, Harris, Joe Biden, Clooney, Barack Obama, Joe “, ” Biden, wasn’t, , ” Clooney, Michael Williams Organizations: Getty, CNN, New York Times, White
CNN —Actor George Clooney on Tuesday endorsed Vice President Kamala Harris, hailing her “historic” White House bid following President Joe Biden’s exit from the 2024 presidential race. Clooney is seen by many Democratic backers in Hollywood as a sort of compass given his engagement and activism. “President Biden has shown what true leadership is. We’re all so excited to do whatever we can to support Vice President Harris in her historic quest,” Clooney said in a statement to CNN on Tuesday. “He was the same man we all witnessed at the debate,” Clooney added in his op-ed, referencing Biden’s faltering performance at the June 27 presidential debate on CNN.
Persons: George Clooney, Kamala Harris, Joe Biden’s, Clooney, , Biden, Harris, ” Clooney, Barack Obama, Joe ‘, ’ Biden, wasn’t, Joe Biden, She’s, CNN’s Michael Williams Organizations: CNN, Democratic, New York Times, Biden, Democratic Party Locations: Hollywood
GM slows its EV plans again even as sales grow
  + stars: | 2024-07-23 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
Barra's comments come a week after she raised concerns about GM hitting its North American EV production capacity target. The entire Buick brand has targeted being fully electric by 2030, as part of GM's plans to exclusively offer consumer EVs by 2035. GM previously announced plans for four of the multibillion-dollar plants in the U.S. by 2026. Barra on Tuesday said the company would grow cell production in a "meaningful cadence." GM CFO Paul Jacobson declined to discuss potential plans to delay or cancel the automaker's future EV battery cell plants, aside from the two facilities making cells in Ohio and Tennessee.
Persons: Motors, Mary Barra, Barra, Paul Jacobson, " Jacobson, EVs, Jacobson Organizations: DETROIT –, Buick, GM, American, Detroit, LG Energy, EV Locations: Detroit, DETROIT, U.S, Michigan, North America, Ohio, Tennessee
A GMC pickup truck is displayed for sale on a lot at a General Motors dealership in Austin, Texas, on Jan. 5, 2023. DETROIT — General Motors is set to report second-quarter results before the bell Tuesday. Here is what analysts expect, according to average estimates compiled by LSEG:Earnings per share: $2.75 adjusted$2.75 adjusted Revenue: $45.46 billionThose results would mark a 1.6% increase in revenue compared to a year earlier and a 44.2% increase in adjusted earnings per share. GM's second-quarter results last year included $44.75 billion in revenue, net income attributable to stockholders of $2.57 billion and adjusted earnings before interest and taxes of $3.23 billion. GM's 2024 guidance includes adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, and adjusted automotive free cash flow in a range of $8.5 billion to $10.5 billion.
Organizations: GMC, General Motors, DETROIT —, Street, GM, Detroit, America's Locations: Austin , Texas, DETROIT, China
GM indefinitely delays Cruise Origin autonomous vehicle
  + stars: | 2024-07-23 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
DETROIT – General Motors is indefinitely delaying production of its Origin autonomous vehicle as its embattled Cruise self-driving unit attempts to relaunch operations. The Detroit automaker said Tuesday its majority-owned robotaxi unit will instead focus on using the next-generation Chevrolet Bolt for development of autonomous vehicles. Cruise has been using now-discontinued Bolts for autonomous vehicle development for several years. It was not immediately clear how many Origin vehicles the facility has produced, however it was previously reported that ex-Cruise CEO Kyle Vogt, a cofounder, told staff that hundreds of Origin vehicles had been produced. Cruise in February 2022 petitioned U.S. regulators seeking permission to deploy up to 2,500 self-driving Origin vehicles annually without the human controls.
Persons: Mary Barra, Cruise's, Cruise, Rowe Price, Kyle Vogt Organizations: DETROIT, Motors, Cruise, Detroit, GM, Honda Motor, Microsoft, Walmart Locations: Detroit, San Francisco, Phoenix , Houston, Dallas, Dubai, U.S
Washington CNN —President Joe Biden will deliver a speech on his decision to drop out of the 2024 race on Wednesday. “I’m going to be on the road and I’m not going anywhere,” Biden said over the phone, his voice still hoarse from Covid. “I won’t be on the ticket, but I am still going to be fully, fully engaged. Prime-time Oval Office addresses from the president are rare. Biden is the first president in more than a generation to decide not to seek a second term.
Persons: Joe Biden, Biden, Harris, “ I’m, ” Biden, I’ve, I’m, ” Harris, Donald Trump, Lyndon B Organizations: Washington CNN, White Locations: Rehoboth Beach , Delaware, Covid, Vietnam
That compares to LSEG estimates for Ford Motor that call for adjusted earnings per share of 68 cents for the second quarter, down 5.2% from the second quarter of 2023. Ford is scheduled to report Wednesday afternoon after markets close, followed by Chrysler parent Stellantis , which reports earnings biannually, releasing its first-half results Thursday morning. Stock Chart Icon Stock chart icon GM, Ford and Stellantis stocks in 2024. "Both are expected to raise 2024 guidance." Evercore still expects a "solid" second quarter for Ford, though, trending toward the upper half of its previously announced 2024 guidance.
Persons: Mary Barra, Ford, Dan Levy, Chris McNally, Itay Michaeli, Jim Farley, Michael Wayland, Carlos Tavares, Natalie Knight, Stellantis Organizations: New York Stock Exchange, NYSE DETROIT —, Motors, Detroit, America's, GM, Ford Motor, Chrysler, Ford, Barclays, Citi, CNBC Locations: Detroit, North America, Europe, Auburn Hills, Mich
What history shows: Data from Bespoke Investment Group shows GM beats earnings expectations 87% of the time. Tesla is set to report earnings after the close. What history shows: Bespoke data shows GM beats earnings expectations 62% of the time. What history shows: Ford earnings exceed estimates nearly 70% of the time, according to Bespoke. This quarter: Earnings for the airline are expected to have fallen more than 10% from the year-earlier period, per LSEG.
Persons: Michael Wayland, Tesla, Elon Musk, Dan Levy, Ben Kallo, Benjamin Black, Jim Farley, Matthew Swanson, Swanson, AAL, Leslie Josephs Organizations: Big Tech, Google, Ford Motor, IBM, General Motors, CNBC, Tuesday, GM, Investment Group, LSEG, Barclays, Energy, Deutsche Bank, Wednesday Ford, Ford, Ford Pro, RBC, Thursday, Airlines, American Airlines, Investors Locations: China
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Biden will not seek reelection; endorses Harris
  + stars: | 2024-07-21 | by ( Michael Williams | ) edition.cnn.com   time to read: +8 min
CNN —President Joe Biden says he is not seeking reelection in a letter posted to his official account on X. “It has been the greatest honor of my life to serve as your President,” Biden wrote. “My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President,” Biden wrote. It’s also the latest shocking development in a highly charged political campaign that has included an attempt on Trump’s life. The mood in the White House and at Biden’s campaign headquarters in Wilmington had turned sour.
Persons: Joe Biden, Kamala Harris, ” Biden, Biden, Harris, it’s, I’ve, Kamala, , Donald Trump, Lyndon Johnson, It’s, , , Lloyd Doggett, George Clooney, ABC’s George Stephanopoulos, Stephanopoulos, didn’t, Adam Schiff, Nancy Pelosi, “ He’s, ‘ Kamala can’t, Organizations: CNN, Trump, White, New York Times, NATO, White House, Democrat, Former, Biden Locations: Wilmington, Texas
DETROIT – Ford Motor will expand production of its large Super Duty trucks to a Canadian plant that was previously set to be converted into an all-electric vehicle hub. The new plans include investing about $3 billion to expand Super Duty production, including $2.3 billion at Ford's Oakville Assembly Complex in Ontario, Canada, Ford said Thursday. The remaining investment will be used to increase production at supporting facilities in the U.S. and Canada, the company said. Ford currently produces Super Duty trucks – the larger siblings of the F-150 full-size pickup used largely by commercial and business customers – at plants in Ohio and Kentucky. Ford said the Canadian plant, which is expected to come online in 2026, will add capacity of roughly 100,000 units annually.
Persons: Ford, Jim Farley Organizations: DETROIT, Ford, Kentucky, Plant, Ford Pro Locations: Canadian, Oakville, Ontario, Canada, U.S, Ohio, Kentucky
CNN —Night three of the Republican National Convention has kicked off in Milwaukee. From CNN’s Haley BritzkyRep. Ronny Jackson’s false claim of ‘record-high inflation’Rep. Ronny Jackson of Texas claimed in his Republican National Convention speech on Wednesday that there has been “record-high inflation” under the Biden administration. From CNN’s Haley BritzkyRNC video falsely claims there was peace in the Middle East under TrumpA video played early in the Republican National Convention proceedings on Wednesday night claimed that the “strength” of President Donald Trump kept “the Middle East at peace.” Republican National Committee Chairman Michael Whatley had similarly claimed in his convention speech on Monday that the Middle East was “at peace” four years ago under Trump. Dana El Kurd, senior nonresident fellow at the Arab Center Washington DC think tank, also called that claim “false” when Trump made it. She said in a November email: “The Abraham Accords did not achieve peace in the Middle East.
Persons: Newt Gingrich, Trump, Biden, , Jennifer Hansler, Richard Grenell, Joe Biden “, , Joe Biden, ” Grenell, Donald Trump’s, , CNN’s Haley Britzky, Ronny Jackson’s, Ronny Jackson, Jackson, Biden –, Daniel Dale, Michael Whatley, “ They’ve, Charlie Dietz, Donald Trump, Abraham, Aaron David Miller, ” Miller, Dana El Kurd, Joe Biden’s Organizations: CNN, Republican National Convention, Trump Former Republican, Defense, Trump intel, National Intelligence, ISIS, United, Taliban, Afghanistan Reconstruction, Russian, Russian Navy, Pentagon, State Department, NATO, Trump, Republican, ” Republican National, Abraham Accords, United Arab Emirates, West Bank, Hezbollah, Carnegie Endowment, International, Arab Center Washington DC, The Defense News, Heritage Foundation Locations: Milwaukee, Afghanistan, United States, , Doha, Texas, Cuba, Russia, Ukraine, Havana , Cuba, Russian, Kazan, Havana, Bahrain, Israel, Morocco, Sudan, Yemen, Syria, Gaza, Lebanon, Iran, Iraq, Palestine, China, , America
In this article GM Follow your favorite stocks CREATE FREE ACCOUNT2025 Cadillac Escalade V-Series SUV CadillacDETROIT — General Motors will increase production of its Cadillac Escalade V-Series performance model as part of updates to the flagship SUV for the 2025 model year. The gas-powered 2025 Escalade will continue to be powered by two 6.2-liter V-8 engines, including a supercharged V-Series performance model capable of 682 horsepower and 653 foot-pounds of torque. Cadillac said it will increase production of the 2025 Escalade V-Series, which was introduced two years ago, after not being able to meet demand for the current model year. "We are increasing production to help meet customer demand for the pinnacle of Escalade performance, luxury and craftsmanship, while maintaining exclusivity," a Cadillac spokeswoman told CNBC. 2025 Cadillac Escalade V-Series SUV Cadillac
Persons: Escalade, John Roth, , Cadillac Organizations: , Motors, Cadillac, Cadillac —, GM, CNBC Locations: U.S
Read previewBefore his 2019 death in jail, Jeffrey Epstein spent hours being interviewed on camera by Steve Bannon. AdvertisementAlexandra Preate, a spokesperson for Bannon, told BI in December 2021 that the documentary about Epstein would be screened "probably around Labor Day." In the 2000s, Trump and Jeffrey Epstein fought over Trump's purchase of a Palm Beach mansion that Epstein coveted. Mark Epstein said Jeffrey Epstein told him he wasn't subpoenaed for any depositions at that time. "You were the only person I was afraid of during the campaign," Bannon told Epstein, according to Wolff's book.
Persons: , Jeffrey Epstein, Steve Bannon, Bannon, Epstein, Ghislaine Maxwell, Epstein —, Donald Trump's, He's, Kevin McCarthy, Alexandra Preate, Preate, Trump Bannon, Mark Epstein, Jeffrey Epstein's, Donald Trump, Melania Knauss, Jeffrey, Trump, Bannon's, Steve Bannon's, Jacob Shamsian, wasn't, would've, Brett Kavanaugh, Kavanaugh, he's, Mike Lindell, I've, It's, Guo Wengui, Guo —, Ho Wan Kwok, Miles Guo —, Guo, Leon Black, Black, Epstein's, David Bossie, Bobbi Sternheim, Gloria Allred, Arick Fudali, didn't, David Schoen, Brad Edwards, Emma, Jo Morris, Hunter, Morris, Michael Wolff, Wolff, Julie K, Brown, Alexander Acosta, Acosta, Ehud Barak, Reid Weingarten, Rachel Maddow, Gayle King, King, Patrick Semansky, he'd, Diana, Jean Carroll, Bergdorf Goodman, Carroll Organizations: Service, New York, Business, Global, Victory Films, Trump, Capitol, Labor, Daily, Miami Herald, Davidoff, BI, Voting Systems, Apollo Global Management, White, Citizens United, Office, Southern, of, New, Trump White Locations: Manhattan, Paris, Palm Beach , Florida, Mexico, Danbury , Connecticut, Palm Beach, New York, jshamsian@businessinsider.com, JacobShamsian, York, Miami, Florida, Trump
Washington CNN —President Joe Biden told an interviewer he considers himself a Zionist who has also done “more for the Palestinian community than anybody” while calling for more aid to reach the Gaza Strip. The interview was filmed on Friday, the day before the assassination attempt against former President Donald Trump and was published on Monday. Asked directly by the interviewer whether he is a Zionist, Biden said, “yes.” Biden has often described himself as such before and since the October 7 attack on Israel by Hamas. Biden seemed to anticipate that some factions would take issue with his description of himself as a Zionist. Asked again if he was committed to staying on the ballot, Biden responded: “Unless I get hit by a train, yeah.”
Persons: Joe Biden, ” Biden, Donald Trump, Biden, they’ve, , you’ll, Organizations: Washington CNN, Zionist, Networks, CNN, Hamas Locations: Gaza, Israel,
A GM spokesman said the company's target was about the production capacity, while the question was regarding actually producing 1 million EVs in 2025. Barra did not specifcally address whether it was production or production capacity that she was referring to. The spokesman later said the company would no longer reiterate the EV production capacity plans for 2025. The company has continually said its EV plans will be flexible to meet demand. More details about the automaker's EV plans could come when GM reports second-quarter results on July 23.
Persons: Motors, Mary Barra, Barra Organizations: EV, EVs, GM, CNBC Locations: North America, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRNC Chair Michael Whatley: Right now unity is a theme that we need to be focused onMichael Whatley, Republican National Committee chair, joins 'Squawk Box' to discuss the security measures at this week's Republican National Convention, what to expect from the RNC this week, impact of the assassination attempt of former President Trump, and more.
Persons: Michael Whatley, Trump Organizations: Republican National Committee, Republican National Convention, RNC
The FBI said Sunday that the shooter at Trump’s rally in Pennsylvania acted alone and that it is still actively investigating the shooter’s background – including working to gain access to his phone. “We are working to get access to the phone,” Kevin Rojek, special agent in charge of the FBI’s Pittsburgh field office, said Sunday. Rojek confirmed the gun used in the shooting was an AR-style rifle that was purchased legally. FBI Deputy Director Paul Abbate also said the FBI is “seeing that tick up in the aftermath of this event. “The violence we saw yesterday is an attack on democracy itself,” Garland said.
Persons: Kevin Rojek, , ” Rojek, , Rojek, Bobby Wells, Paul Abbate, We’ve, General Merrick Garland, Biden, ” Garland Organizations: FBI, Counterterrorism Division Locations: Pennsylvania, Pittsburgh, Quantico, Washington ,
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