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☆ One of Iran's most advanced missiles made an appearance in its massive attack on Israel
▼ + stars: | 2024-10-03 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Iran said it fired its new Fattah missile during the attack against Israel on Tuesday. The medium-range ballistic missile is one of the most advanced in Iran's arsenal. AFP via Getty ImagesThe Fattah-1 is a medium-range ballistic missile considered one of the most advanced in Iran's arsenal. In April, Iran launched a much larger barrage overall with around 170 attack drones, 30 cruise missiles, and 120 ballistic missiles. Still, some of the Iranian missiles managed to impact on land, although they did not appear to cause significant damage.

Persons: —, Hassan Nasrallah, Ismail Haniyeh, Shaan Shaikh, Farzin, Chen Junqing, Shaikh Organizations: Israel, Service, Islamic Revolutionary Guard Corps, Business, Getty, Missle, Center for Strategic, International Studies, The Washington Institute for Near East, Getty Images, Institute for, AP, American, Iranian Locations: Iran, Tehran, Israel, Iranian, AFP, Jerusalem, Xinhua

☆ Home of famed Masters golf tournament announces joint $5 million donation toward Hurricane Helene relief
▼ + stars: | 2024-10-03 | by ( David Close | ) edition.cnn.com time to read: +1 min

CNN —In the wake of Hurricane Helene’s destruction, Augusta National Golf Club – the home of renowned major golf tournament, the Masters – has pledged a massive donation to help those in need in and around the Augusta area. The famed golf club in Augusta, Georgia, and the Community Foundation for the Central Savannah River Area (CSRA) promised a joint $5 million contribution to the Hurricane Helene Community Crisis Fund on Thursday. “Our employees, neighbors, friends and business owners need, and deserve, immediate and meaningful assistance to overcome the hardships being experienced at this moment throughout Augusta,” chairman of Augusta National Golf Club Fred Ridley stated Thursday. “Augusta National and the Community Foundation each take to heart our obligation to care for our community. A week after Helene smashed into the Southeast, more than 200 people are dead across six states, making the hurricane the second-deadliest to hit the United States mainland since Hurricane Katrina in 2005.

Persons: –, Hurricane Helene, “, Augusta National Golf Club Fred Ridley, ” Riley, Helene Organizations: CNN, National Golf, Community Foundation, Hurricane, Augusta National Golf Club, Cross, National Locations: Augusta, Augusta , Georgia, Savannah, United States

☆ Alec Baldwin fired a gun on the set of 'Rust,' killing its cinematographer. Here's a timeline of the shocking incident.
▼ + stars: | 2024-10-03 | by ( Jason Guerrasio | Tom Murray | ) www.businessinsider.com time to read: +20 min

On October 21, 2021, Alec Baldwin fired a gun while rehearsing a scene for the movie "Rust" that killed cinematographer Halyna Hutchins and injured director Joel Souza. Prop masters union said the gun Baldwin fired contained live roundsAn email from the International Alliance of Theatrical Stage Employees Local 44 to its members revealed that the gun Baldwin fired had a live round, according to Indiewire. The email from the union also confirmed that the shot Baldwin fired hit both Hutchins and Souza. The Times also reported that a search warrant was issued of the "Rust" set and that a judge has ordered that all equipment be searched for evidence. AdvertisementPrevious reports from the "Rust" set say two accidental gun discharges happened the weekend before the fatal shooting of Hutchins.

Persons: Alec Baldwin, Halyna Hutchins, Joel Souza, Hannah Gutierrez, Reed, Baldwin, —, Hutchins, Souza, Christus St, Mark Sagliocco, KOAT, Instagram, halynahutchins Baldwin, Dave Halls, ANNE LEBRETON, Juan Rios, Rios, armorer Hannah Gutierrez, Ryan Kiera Armstrong, Nicolas Cage, Gutierrez, Reed's, armorer, Armstrong, Hollywood armorer Thell Reed, Mamie Mitchell, Mitchell, Jim Spellman, Halyna, Kevin Mohatt, Rust, Matt Hutchins, Joel, Alec, Jae C, Sam Wasson, Santa Fe Sheriff Adan Mendoza, Facebook Armorer Gutierrez, Hannah, Jason Bowles, Robert Gorence, Stu Brumbaugh, Serge Svetnoy, Facebook Hutchins, George Stephanopoulos, Stephanopoulos Organizations: Service, Santa Fe New, Los Angeles Times, University of New, University of New Mexico Hospital, Christus, Vincent Regional Medical Center, International Alliance, Construction, New, The New York Times, Associated Press, Times, Getty, New York Times, LA Times, Daily, Metro, Santa Fe Sheriff's, CNN, REUTERS, Albuquerque Civic, The New York, New York, American Film Institute, AP, Police, Office, Halls, The, ABC Locations: Poland, Western, EnergaCamerimage, Here's, Santa, Santa Fe, Santa Fe , New Mexico, University of New Mexico, New Mexico, AFP, Santa Fe County, Albuquerque , New Mexico, Albuquerque, Fe, Mexico

☆ Tesla recalls 27,000 Cybertrucks due to a rearview camera issue
▼ + stars: | 2024-10-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Tesla is recalling roughly 27,000 Cybertrucks because of a rearview camera issue that delays the image being displayed on the dashboard, increasing the risk of a crash. The rearview display might appear blank for up to 8 seconds when the Cybertruck is put in reverse, according to a filing from the National Highway Traffic Safety Administration (NHTSA). Tesla has released a free, over-the-air software update to fix the issue. In January, Tesla issued a software recall for 2.2 million of its vehicles, including Cybertrucks, because letters on warning lights were too small to easily read. Tesla this week reported an increase in sales for the first time this year, although its year-to-date sales still trail the same period in 2023.

Persons: New York CNN — Tesla, Tesla, “ Organizations: New, New York CNN, National, Traffic Safety Administration, NHTSA Locations: New York

☆ Chaos is building for shippers as U.S. port strike continues and costs rise
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

Brashier said some clients had containers that were once destined for the Port of Savannah diverted to the Port of Norfolk in the last hours before the strike began. More than a dozen container vessels are currently waiting in the port anchorage area of Freeport, Everstream Analytics data shows. MSC, the largest containership company in the world, has diverted two vessels, according to Vizion. A container ship departs the Port of Newark for the Atlantic Ocean on September 30, 2024 seen from New York City. Christian Roeloffs, cofounder and CEO of Container xChange, said the timing of this strike is especially challenging for shippers.

Persons: Eric Adams, Spencer Platt, Biden, Paul Brashier, Brashier, Jose Luis Gonzalez, Mirko Woitzik, Lloyd, Hermann Schulte, Port, Harold Daggett, Daggett, Stew Leonard, Jr, Stew Leonard's, Leonard, Brandon Daniels, Daniels, Christian Roeloffs Organizations: International Longshoremen’s Association, ILA, Getty, International Longshoremen's Association, United States Maritime Alliance, ITS Logistics, CNBC, Trucking, Port, Portsmouth, Reuters, Dresden, Turkey East Coast Express Service, America, Schulte Group, MSC, USMX, Local, Virginia International, Walmart, Depot, Folgers Company, Nike, Container, Analytics Locations: Brooklyn, Brooklyn , New York, Gulf Coast, Savannah, Port of Norfolk, Virginia, Portsmouth , Virginia, U.S, Vizion, East Coast, Port of Norfolk , Virginia, Savannah , Georgia, Egypt, America, Charleston, Port, Freeport, Bahamas, Cristobal, Port of New York, New Jersey, Halifax, Canada, Newark, New York City, New York, Savannah , Norfolk, West Coast, demurrage, China, Israel

☆ Elon Musk's 'apocalypse-proof' Cybertruck gets its 5th recall in 12 months
▼ + stars: | 2024-10-03 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

The "apocalypse-proof" truck has been recalled for the fifth time in 12 months. AdvertisementTesla's Cybertruck has had a rocky rollout since it launched last year — and now it's hit another speed bump. It's the fifth recall to hit the Cybertruck in the last 12 months. Elon Musk previously said the Cybertruck would be "apocalypse-proof," bulletproof, and even briefly serve as a boat. The latest recall hints at just how many Cybertrucks Tesla has sold.

Persons: Tesla's Cybertruck, —, Cybertruck, Tesla, Elon Musk Organizations: Service, Traffic, Administration, Mobility

September had been a month of celebrating Bertha Mendoza’s birthday, as well as her son's and grandson's. “We just decided to throw a big birthday party on Saturday," Sept. 21, Guillermo Mendoza told NBC News in a phone interview. Bertha was proud of her four children: Emanuel Ibarra, Guillermo Mendoza, Clarissa Flores and Esteban Mendoza. Bertha told her that it would probably be their last conversation and that she loved her, Guillermo said. “If you just spoke to her a couple of minutes, you felt like she was your mom," Guillermo said.

Persons: Bertha Mendoza’s, It's, Mendoza, Hurricane Helene, Guillermo, Guillermo Mendoza, ” Bertha Mendoza, Bertha, Emanuel Ibarra, Clarissa Flores, Esteban Mendoza, Elías Mendoza, “, Centro Cristiano Siempre Gozosos, ” Guillermo, wasn’t, ‘, couldn’t, Helene, Guillermo wasn’t, I’m, ” Organizations: Impact Plastics Inc, NBC News, Centro Cristiano Siempre, Authorities, Baptist Church, Erwin Locations: Erwin , Tennessee, Hurricane, United States, Erwin, Guanajuato, Michoacán, Mexico, Johnson City , Tennessee, Johnson City

☆ Stellantis U.S. auto sales extend free fall in third quarter
▼ + stars: | 2024-10-02 | by ( Michael Wayland | ) www.nbcnews.com time to read: +3 min

DETROIT — Stellantis’ U.S. new vehicle sales continued a yearslong free fall during the third quarter, despite CEO Carlos Tavares’ attempts to correct what he has called “arrogant” mistakes. Stellantis was expected to be the worst sales performer of major automakers during the third quarter. Auto industry forecaster Cox Automotive had projected a sales decline of roughly 21% for the carmaker. All of Stellantis’ brands except for its niche Fiat unit experienced sales declines in the third quarter, led by more than 40% reductions for Chrysler and Dodge. Stellantis’ performance compares with the overall U.S. new light-duty vehicle sales market, which increased 13% last year, according to federal data.

Persons: Carlos Tavares ’, Stellantis, Cox, Edmunds, Matt Thompson, Tavares Organizations: DETROIT, carmaker, Auto, Cox Automotive, U.S, Fiat, Chrysler, Dodge, Jeep, New York Stock Exchange, Stellantis, Fiat Chrysler, France’s PSA Groupe, United Auto Workers Locations: ’, U.S

The Tennessee Bureau of Investigation, the state's criminal investigation agency, said Wednesday it is looking into allegations against an Erwin plastics factory where several workers died and some went missing after they were swept away by floodwaters from Hurricane Helene. Relatives of the missing and deceased workers and factory employees who survived have alleged they were made to show up to work despite the hurricane moving through the area. Fernando Ruiz, the son of Lidia Verdugo, one of the plant workers, also confirmed to NBC News that his mother had died. Impact Plastics has expressed sympathy for the missing and deceased workers but said in a statement that workers were given time to leave the factory. The company said five workers and a contractor were on a truck that was tipped over in the floodwaters.

Persons: Hurricane Helene, Steve Finney, Leslie Earhart, Finney, Robbie Jarvis, Jarvis, Brianna Paciorka, Network Bertha Mendoza, Guillermo Mendoza, Fernando Ruiz, Lidia Verdugo Organizations: Tennessee Bureau of Investigation, Erwin, Judicial, Impact Plastics, NBC News, Attorney General's, NBC, Plastics, Impact Plastics Inc, Sentinel, USA, Network Locations: Hurricane, Erwin, Tenn

Bertha Mendoza made a final call to her husband of 38 years as raging Hurricane Helene floodwaters trapped her and others at a Tennessee plastics plant. In a call to her husband, Elias Mendoza, Bertha, 56, said she loved him, her son Guillermo Mendoza told NBC News. Meanwhile, survivors lashed out at the company for failing to warn workers and making them go to work that day. Fernando Ruiz, the son of Lidia Verdugo, one of the plant workers, confirmed to NBC News that his mother had died. ... It’s about more than just providing Spanish fliers or interpretation but having specific outreach efforts to the community.”At an afternoon news conference, Tennessee Gov.

Persons: Bertha Mendoza, Elias Mendoza, Bertha, Guillermo Mendoza, ”, Mendoza, Hurricane Helene, Saul Young, Robbie Jarvis, “, ” Jarvis, Helene, Fernando Ruiz, Lidia Verdugo, we've, Myron Jones, Lisa Sherman Luna, Bill Lee, Lee, Jacob Ingram, ” Guillermo Mendoza, Araceli Mendoza, Ingram, ” Mendoza, Francisco Javier Guerrero, Rosa Andrade Reynoso Organizations: Workers, NBC, First Baptist Church, Erwin, News Sentinel, USA, Network, Impact Plastics, Authorities, NBC News, Tennessee, Hazard Incident Management, Refugee Rights Coalition, Tennessee Gov, Tennessee Bureau of, Knoxville News Sentinel Locations: Tennessee, Erwin, Riverview, Tenn, Hurricane, Michoacán, Mexico, Knoxville

☆ Tesla stock slips after EV maker misses estimates on deliveries
▼ + stars: | 2024-10-02 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

In the year-ago period , Tesla reported 435,059 deliveries and production of 430,488 EVs. Last quarter, the company reported 443,956 deliveries, and production of 410,831 vehicles. Deliveries are not defined in Tesla's financial disclosures, but are the closest approximation to units sold reported by the company. Analysts were expecting deliveries of 463,310 in the period ended Sept. 30, according to estimates compiled by FactSet StreetAccount. Tesla posted its third-quarter vehicle production and deliveries report on Wednesday.

Persons: Tesla, Li Auto, FactSet StreetAccount, Ford, Tesla hasn't, Elon Musk, Donald Trump, Musk Organizations: Li, Tesla, EV, Ford, General Motors, GM, Nasdaq, Hyundai Locations: China, Seattle , Washington, US, U.S

☆ The US port strike isn't just hitting imports. America's farmers could be hurt, too.
▼ + stars: | 2024-10-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The US port strike on the East and Gulf Coasts could threaten farm exports amid harvest season. AdvertisementThe US port strike at East and Gulf Coast ports isn't just impacting bananas and consumer imports into the country — it could hurt America's farm exports too. Seyfert told Politico on Friday that while some farm exports can be moved to the West Coast for shipping, there's probably not enough capacity there. "A prolonged strike would force importers to seek alternative supplies, either from West Coast ports or other countries," wrote Glauber. AdvertisementLogistics experts told Business Insider's Tim Paradis that the port strike could damage the US economy badly.

Persons: Joe Biden, —, Mike Seyfert, Seyfert, Joseph Glauber, Tim Paradis, Biden Organizations: Association, Service, White, Politico, Food Policy Research Institute, Logistics, United States Maritime Alliance, International Longshoremen's Association Locations: Gulf, East, Gulf Coast, West Coast, Mexico

☆ Electric F-150 owners used their trucks to run CPAP machines and a horse hospital amid hurricane power outages
▼ + stars: | 2024-10-02 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Ford F-150 Lightning owners in Florida and South Carolina used their trucks as mobile generators. Courtesy of Justin LongLong, who also hosts the podcast Straight from the Horse Doctor's Mouth, will talk to anyone who will listen about his electric truck's capabilities. Advertisement"So many people were stunned to realize that everything inside the vet clinic was running off my truck," Long said. "I spent a large part of my day just talking about the electric truck and the advantages that come with having one." Meanwhile, in hard-hit South Carolina, Chris Wilson says his electric truck is "literally saving my life."

Persons: Ford, —, Helene, Justin, Long, Justin Long Long, it's, Hurricane Helene, Chris Wilson, Wilson, Chris Wilson's Organizations: Ford, Pro Power, Service, Springhill Equine Veterinary Clinic, Business, nab Locations: Florida, South Carolina, North Central Florida, Springhill, Florida , Georgia, North Carolina, Carolina

☆ People are panic-buying toilet paper because of the port strike. There is no need for that
▼ + stars: | 2024-10-02 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Toilet paper shortages in stores across America are giving folks nightmarish reminders of the pandemic era. But the lack of toilet paper isn’t a direct result of a major port strike Tuesday. Reports of shortages filled social media Tuesday, showing empty shelves where toilet paper and, to a lesser extent, paper towels were supposed to be. The overwhelming majority — more than 90% by some estimates — of US toilet paper consumption comes from domestic factories. Any toilet paper hoarded today will last until the next round of panic buying, even it happens years from now.

Persons: ”, It’s Organizations: New, New York CNN, Walmart, Costco, Target, and Paper Association, American Farm Bureau Locations: New York, America, Virginia, Monmouth County NJ, reax, Maine, Texas, Canada, Mexico, Wilmington , Delaware

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Tesla, Nike, Meta, Alphabet, Rio Tinto & more
▼ + stars: | 2024-10-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan upgrades Parr Pacific to overweight from neutral JPMorgan said the gas exploration and production company has overcorrected. JPMorgan downgrades MercadoLibre to neutral from overweight JPMorgan downgraded the online Latin American marketplace mainly due to valuation. Wells Fargo reiterates Meta as overweight Wells Fargo raised its price target on Meta to $652 per share from $647. JPMorgan upgrades SAIC to overweight from neutral The firm says it sees "profitable growth" for the IT company. Berenberg upgrades Rio Tinto to buy from hold Berenberg says the metals and mining company is a "medium-term diversified winner."

Persons: Roth, DA Davidson, Davidson, PARR, Wolfe, Raymond James downgrades, Raymond James, Guggenheim, Mizuho, it's bullish, tailwinds, Wells, Wells Fargo, Canaccord, Tesla, Berenberg, Baird downgrades Harley, Baird, Harley, Gordon, FANG, Bernstein Organizations: Iren Energy, Industries, JPMorgan, Parr, Northland, TAM, Raymond James downgrades GE, GE, Deutsche Bank, Nike, Absci Corporation, Mizuho, Kodiak, Kodiak Gas Services, Meta, SAIC, IT, Tesla, Mobile, T Bank, Buffalo, Rio Tinto, BHP, Home Depot, Barclays, Diamondback Energy, Nvidia, Apple Locations: OW, Asia, Vegas, Northland, Salesforce, Rio, American

☆ Satellite images capture Russia's scramble to shield a key bridge from Ukraine's exploding naval drones and other threats
▼ + stars: | 2024-10-01 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

New satellite imagery shows how Russia has continued to add defenses to protect the Kerch Bridge. AdvertisementNew satellite imagery shows how Russia has stepped up its efforts to protect a key bridge from Ukrainian attacks, including its exploding naval drones. An overview of barriers near the Kerch Bridge on September 28. The threat has prompted Moscow to add defenses like the ones at the Kerch Bridge to the key ports of Sevastopol and Novorossiysk. A second Pantsir air-defense system on a tower near the Kerch Bridge on September 28.

Persons: —, Brady Africk, Maxar, Vladimir Putin Organizations: Service, Maxar Technologies, Business, Technologies, Fleet, American Enterprise Institute, Ukrainian Navy Locations: Russia, Kerch, Crimean, Crimea, Ukraine, Moscow, Sevastopol, Novorossiysk, Brady, Kyiv

☆ Boomers Are Selling Their Small Businesses; Millennials Are Buying
▼ + stars: | 2024-10-01 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +12 min

Sure, many small businesses aren't glamorous — think dental practices or accounting firms — and they involve long hours and unpredictable market forces. The US Small Business Administration said in July that there were nearly 35 million small businesses in the US. Fewer than two-thirds of small businesses in the US in 2022 were profitable, and over a million businesses of all sizes close each year. Traditionally, small businesses were family businesses, and the eldest male child was expected to take it over when the patriarch was ready to step down. Buying up small businesses allows people without wealthy boomer parents to cash in on the trillions of dollars of wealth the generation is sitting on.

Persons: George Coulam, Coulam, Forrester, Nancy Forster, Holt, Ernst & Young, Steve Holt, Shaw, Tenney, Paul, Helen Reagan, Forster, who's, Jennifer, Neil Gutekunst, Edie Ellis, Ellis, BizBuySell, you've, Dave Specht, Specht, they've, " Forster, She's, PwC, Norm Dinkel, Brian Brogan, — he's, hasn't, it's, Jennifer Gutekunst, boomer Organizations: Texas Renaissance, NewEdge Wealth, Ernst &, Shaw, University of Rhode, US Small Business Administration, Small Business Administration, Drucker School, Family Business, Claremont Graduate University, Wall, American Investment Council, Saint Joseph's University Locations: Texas, America, Sacramento , California, Maine, Orono, Chicago, Washington, Pennsylvania

☆ Ford aims to boost EV sales, address owner concerns with new benefits program
▼ + stars: | 2024-09-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The Mustang Mach-E on display at the New York International Auto Show on March 28, 2024. DETROIT — Ford Motor is aiming to boost sales of its electric vehicles by addressing potential customer concerns through a new program that includes free home-charging installation and other benefits. The "Ford Power Promise" program begins Tuesday for customers who purchase or lease a new Ford EV such as the F-150 Lightning pickup truck or Mustang Mach-E crossover. "Absolutely, we're trying to grow our business but the best way we can grow our business is to serve our customers well," Marin Gjaja, chief operating officer for Ford's Model e EV business, told CNBC. The program launches as EV sales grow at a slower rate than many previously expected.

Persons: Marin Gjaja, Gjaja, Ford Organizations: New York, DETROIT, Ford, CNBC, EV

☆ Eric Adams has the SCOTUS supermajority to thank as he challenges his bribery charge
▼ + stars: | 2024-09-30 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

In a court filing on Monday, Adams attorney Alex Spiro cites a groundbreaking June SCOTUS decision as reason enough to toss the bribery count. AdvertisementFederal prosecutors say Adams enjoyed nearly a decade of globe-circling Turkish Airlines trips. "I know," the feds say Adams responded when told by the staffer that Turkey saw this as "his turn" to reciprocate. (In addition to Spiro, Adams is represented by Avi Perry and William Burck. Adams has pleaded not guilty to the indictment, which also charges him with illegally accepting campaign contributions from Turkish officials and others via straw donors.

Persons: SCOTUS, Adams, —, Eric Adams, It's, Alex Spiro, Snyder, Spiro, Michel Paradis, Paradis, Brett Kavanaugh, Avi Perry, William Burck, Anthony Kennedy, Kavanaugh, Spiro didn't Organizations: New York City, Service, US, Indiana, Columbia Law School, Prosecutors, Turkish Airlines, Fox Corp, New York Times, Turkish, Justice Department Locations: New York, United States, Turkey, Turkish, Spiro, Burck

Patrick Lenihan, 33, JPMorgan Asset ManagementJP Morgan Asset ManagementAt JPMorgan Asset Management, Lenihan manages $21 billion in 8,000 customizable portfolios that provide generous tax advantages for the firm's clients. The dual role of fund manager and product developer combines his interest in finance with his engineering background. Lenihan led the development of a product that required buy-in from across internal tech teams, third-party partners, and operations. Lenihan also launched a mentoring program that seeks to build connectivity among different teams at the asset manager. "I have learned firsthand about how successful you can be with those close partnerships when you work together, " he said.

Persons: Patrick Lenihan, Lenihan, Ted Dimig Organizations: JPMorgan Asset, Asset Management, JPMorgan Asset Management, JPMorgan, Chrysler, University of Michigan, CFA, Wharton

☆ Stellantis shares plunge as carmaker follows Volkswagen in profit warning
▼ + stars: | 2024-09-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Stellantis said it would reduce inventory levels in the United States and ship 200,000 fewer vehicles to North American dealers in the second half of 2024 than in the same period last year. Volkswagen said earlier this month that around 2 million fewer cars are being sold in Europe per year compared with pre-pandemic levels. Volkswagen itself is selling 500,000 fewer cars annually in the region, the equivalent of around two car plants. “To remain competitively viable, we have to comprehensively restructure Volkswagen… because the situation is serious,” the company said last week. “Volkswagen has to increase efficiency and reduce costs.”For Stellantis, Monday’s profit warning is the latest piece of bad news.

Persons: American carmaker, Ram Trucks, Stellantis, Volkswagen’s, Aston Martin Lagonda Organizations: London CNN —, Chrysler, Milan, Citroen, Peugeot, North, Volkswagen, Aston, IG Metall, United Auto Workers Locations: American, North America, United States, North American, China, London, Europe, Detroit

☆ Why the Fed's rate cut won't immediately help car buyers or sales
▼ + stars: | 2024-09-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — The Federal Reserve's decision to cut interest rates for the first time in more than four years is expected to eventually boost new vehicle sales, but not as quickly or by as much as some may expect. The biggest near-term improvement in auto loan rates isn't expected until early next year, according to Smoke. He said that unlike the cost of home loans, which has come down in recent months, auto loan rate changes can be delayed because they're really a function of longer-term bond yields that are based on loan performances. Auto loan 30-day delinquency rates have risen considerably in recent years, according to a Thursday note from the Board of Governors of the Federal Reserve System. Although they remain below the peak levels of the Great Recession, as of the end of 2023, auto loan delinquency rates exceeded pre-pandemic levels by about 60 basis points.

Persons: Jonathan Smoke, we've, they're Organizations: DETROIT, Cox Automotive, Auto, Governors, Federal Reserve

VALDOSTA, Ga. — Fear lingers in this hard-hit city, where trees toppled onto houses and several downtown buildings were destroyed. Anxious families worry their community could be without power for weeks in the wake of Hurricane Helene. Bythwood said that after Hurricane Idalia last August, he and his wife lost power at their home for five days. We’ve got a lot, a lot of damage,” he said. “A lot of houses torn up.”Rosana Baluss, 35, was living in a hotel with no power.

Persons: “, Ronney, Brian Kemp, Bythwood, Hurricane Idalia, Helene, Mike Stewart, We’ve, ”, Nekisha Williams, ” Williams, that’s, Hurricane Helene, Daniella Silva, Roy Rhodes, she’ll, Rhodes, ” Rosana, Sean Rayford, ” Baluss, Bill Parmelee, who’s, Parmelee, ” Kemp Organizations: Lowndes County Civic Center, Hurricane, NBC, Idalia Locations: VALDOSTA, Ga, Hurricane, Valdosta, Lowndes, Lowndes County, ”

☆ Pregnant mom of two is ‘completely trapped’ in her North Carolina home
▼ + stars: | 2024-09-28 | by ( Jay Croft | Isabel Rosales | ) edition.cnn.com time to read: +7 min

Asheville, North Carolina CNN —No power. These are the conditions some North Carolina residents face amid the worst of the flooding caused by tropical depression Helene. Jennifer Replogle, a pregnant mother of two young children, is “completely trapped” at her home above Boone in Tater Hill, North Carolina, elevation 4,200 feet, where severe flooding from tropical storms is not the norm. Melissa Sue Gerrits/Getty ImagesHelene “is one of the worst storms in modern history for parts of North Carolina,” Gov. The storm has exposed other North Carolina residents to life-or-death situations.

Persons: Helene, Jennifer Replogle, ”, Replogle, ” Replogle, Melissa Sue Gerrits, Helene “, Roy Cooper, Sofia Grace Kunst, ” Kunst, “, Matt Lewis, ” Lewis, Patrick McNamara, McNamara, ” McNamara, it’s, “ We’re, Yancey, McDowell Organizations: North Carolina CNN, North, ”, Department of Transportation, CNN, Kunst, Asheville Locations: Asheville, North Carolina, Boone, Tater Hill, Watauga County, Watauga, Florida, Boone , North Carolina, Yancey County, Tennessee, Western NC, Sofia, Black, Kunst, McDowell County

☆ I've always had a hard time decluttering. When my childhood home burned down, I learned a lot about letting go.
▼ + stars: | 2024-09-28 | by ( Allison Young | ) www.businessinsider.com time to read: +5 min

I've always been a bit of a pack rat and had a hard time decluttering. I learned a hard lesson about letting go. The sudden scarcity brought my life's inventory into heightened focus. AdvertisementFrom the rubble, I learned a few lessonsAs fast as our home burned down, the recovery is glacial in its pace. I collect receipts for what I've replaced, and painstakingly assess how not to perpetuate my cycle of accumulating without decluttering.

Persons: I've, —, It's, it's, feebly, we'd Organizations: Service, Flames

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