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☆ Surgery rules Raducanu out of French Open, Wimbledon
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

[1/3] Tennis - WTA 500 - Stuttgart Open - Porsche Arena, Stuttgart, Germany - April 18, 2023 Britain's Emma Raducanu in action during her round of 32 match against Latvia's Jelena Ostapenko REUTERS/Angelika WarmuthMay 3 (Reuters) - Britain's Emma Raducanu will miss the French Open and Wimbledon while she recovers from surgery on her wrists and ankle, the former U.S. Open champion said on Wednesday. "I'm having a minor procedure done on both hands to resolve the issues. I'm disappointed to share that I will be out for the next few months and while I am at it will have another minor procedure that is due on my ankle." Raducanu, who has struggled with form and fitness since her fairytale run to the U.S. Open title as an 18-year-old qualifier in 2021, withdrew from the Madrid Open last month citing an injury to her right hand. She also lost in the first round in Miami and Stuttgart and was beaten in straight sets by Coco Gauff in the second round of the Australian Open.

☆ Morning Bid: Deja vu for Powell, as bank and debt fears revive
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

Amid so much uncertainty, markets are hopeful that the Fed's current tightening cycle will soon be over. Shares of regional banks were pulverised on Tuesday and sentiment will likely be weak through the week. Also on the minds of investors is the looming deadline for U.S. debt ceiling, with Powell likely to be asked about his contingencies. But as the Reserve Bank of Australia showed us earlier this week, central banks are still capable of surprising the market. Earnings from chip designer Qualcomm later in the day will provide more clues about where the chip market is headed.

☆ Porsche to raise prices further as profits jump
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

BERLIN, May 3 (Reuters) - Luxury carmaker Porsche (P911_p.DE) will raise prices by 4-8% in Europe and the U.S. in the second half to combat higher costs that weighed on returns in the first quarter, even as profits and revenue jumped by over 25%, it said on Wednesday. Porsche listed on the stock market in September last year, splitting from its former parent Volkswagen (VOWG_p.DE) - a decision Meschke said was leading to higher speed in decision-making on products and hiring. The company reported revenue of 10.1 billion euros in the first quarter of 2023 and operating profit of 1.84 billion euros, beating expectations of three analysts polled by Refinitiv. Operating profit in its financial services arm declined to 86 million euros from 102 million previously, which it attributed to the valuation of interest rate hedges and derivatives as well as the impact of the interest rate rise on financing products. ($1 = 0.9060 euros)Reporting by Victoria Waldersee; Editing by Maria SheahanOur Standards: The Thomson Reuters Trust Principles.

☆ After testing more than 25 electric cars, these 5 were the most fun to drive
▼ + stars: | 2023-04-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

The electric Hummer, Porsche Taycan, Rivian R1T, and Pininfarina Battista are each a blast for different reasons. Kia EV6 GTThe 2023 Kia EV6 GT. Tim Levin/InsiderWarn your passengers to brace themselves before pinning it in Kia's new EV6 GT. The 2023 Kia EV6 GT. Porsche TaycanThe 2022 Porsche Taycan Cross Turismo Turbo S. Tim Levin/InsiderPorsches are renowned for their superior driving dynamics.

☆ Used Teslas are holding their value better than other cars despite Elon Musk's price cuts
▼ + stars: | 2023-04-26 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +5 min

Used Tesla Model 3 and Model Ys aren't depreciating substantially, a new study says. Elon Musk's price-cutting frenzy at Tesla doesn't appear to be impacting the company's impressive resale values, according to new data released this week. Slightly more used EVs are being priced just below $25,000 in recent months in order for customers to get the used credit. In September of last year, Tesla made up for roughly two-thirds of the used EV market. This prevents Teslas from flooding the used car market and gives the company more control over its own resale market.

☆ Raducanu pulls out of Madrid before first round
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

[1/4] Tennis - WTA 500 - Stuttgart Open - Porsche Arena, Stuttgart, Germany - April 18, 2023 Britain's Emma Raducanu in action during her round of 32 match against Latvia's Jelena Ostapenko REUTERS/Angelika WarmuthMADRID, April 25 (Reuters) - Former U.S. Open champion Emma Raducanu withdrew from the Madrid Open shortly before she was due on court to play Viktoriya Tomova in the first round on Wednesday. The 20-year-old British player cited an injury to her right hand as the reason for her withdrawal. It is the latest setback for Raducanu who has struggled for form and fitness since her fairytale run to the title at Flushing Meadows in 2021 as an 18-year-old qualifier. She lost in the first round in Miami and Stuttgart and by missing Madrid she will likely fall outside the top 100 in the WTA rankings for the first time since her stunning breakthrough. Reporting by Martyn Herman Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

☆ The new gasoline? Porsche-backed project aims to replace traditional gas
▼ + stars: | 2023-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe new gasoline? Porsche-backed project aims to replace traditional gasHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Meg Gentle, HIF Global executive director, joins the show to discuss her company's plan to produce a new kind of carbon-neutral e-fuel.

☆ Climate change activists protest at Berlin Formula E race
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

BERLIN, April 23 (Reuters) - Climate change activists delayed the start of an all-electric Formula E race at Berlin's Tempelhof airport circuit on Sunday after they climbed fences and sat in front of cars lined up on the starting grid. Letzte Generation (Last Generation) posted video on Twitter of white T-shirted supporters scaling the wire fence before being carried away by security. A Formula E spokesperson said the protest was "unrelated to the event". read moreBritain's Grand National horse race was delayed by animal rights protesters, with 118 people arrested read more . Twenty five people were also arrested at Saturday's Scottish Grand National.

☆ Why Porsche, Mercedes and GM are betting on silicon-anode batteries
▼ + stars: | 2023-04-22 | by ( Andrew Evers | ) www.cnbc.com time to read: +2 min

Batteries made with silicon instead of graphite — the commonly used material in battery anodes today — have been shown to enable significantly higher energy density and faster charging. Amprius is already working with Airbus , the U.S. Army, AeroVironment and BAE Systems on early iterations of its silicon-anode batteries. Sila Nanotechnologies, which was started by a group of ex-Tesla battery engineers, is also working on silicon-anode technology. Porsche also plans to use silicon-anode technology in its vehicles, and has invested in Washington state-based Group14 Technologies. Watch the video to learn more about silicon-anode batteries and why the auto industry is betting on them.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow silicon could enable cheaper EVs, electric flight and more powerful batteriesLithium-ion battery performance has reached a plateau in recent years, but a breakthrough in battery technology is about to change that. Using silicon instead of graphite, the commonly used material in battery anodes today, enables significantly higher energy density and faster charging. The new tech has attracted the attention of big players such as GM, Porsche, Mercedes-Benz and Airbus. CNBC spoke with Sila, Amprius and Group14 to learn how the new batteries will transform EVs and more.

☆ Iga Świątek returns from injury and wins in Stuttgart
▼ + stars: | 2023-04-21 | by ( George Ramsay | ) edition.cnn.com time to read: +1 min

1 Iga Świątek enjoyed a winning return from injury as she defeated China’s Zheng Qinwen 6-1 6-4 at the Porsche Tennis Grand Prix in Stuttgart, Germany. Świątek, who is defending her title in Stuttgart in preparation for the French Open next month, broke Zheng’s serve four times over the course of the match. “I’m pretty happy that I’m not rusty and I could perform good tennis, even though I had a break,” Świątek said after the win. Świątek will be looking to win her third French Open title and fourth grand slam overall when the tournament gets underway in Paris on May 28. She was forced to withdraw from the Miami Open and Billie Jean King Cup Qualifiers in recent weeks but announced before competing in Stuttgart that she is now injury free.

☆ Luxury stocks are on a tear and now there's an index to follow the 1%
▼ + stars: | 2023-04-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Luxury stocks are on a tear, and they are pulling away from the other 99% of the world. Birinyi Associates sees an opportunity. LVMH is the largest luxury firm in the world. Rubin and Birinyi have created two new indexes to monitor all this money: the "1% Index" that consists of 16 luxury stocks, and the "99% Index" made up of 18 stocks that is, well, where the rest of us shops. Since the beginning of April, the 99% is making a comeback: The 1% vs. the 99% (since April 1) 1% index: + 3% 99% index: + 12% Source: Birinyi Associates What's happening?

☆ Sabalenka says win over Krejcikova a confidence boost for French Open
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] Tennis - WTA 500 - Stuttgart Open - Porsche Arena, Stuttgart, Germany - April 19, 2023 Belarus' Aryna Sabalenka in action during her round of 16 match against Czech Republic's Barbora Krejcikova REUTERS/Angelika WarmuthApril 20 (Reuters) - World number two Aryna Sabalenka said beating former French Open champion Barbora Krejcikova in the second round of the tune-up event in Stuttgart will boost her preparation for the Roland Garros Grand Slam. Sabalenka defeated Krejcikova 6-2 6-3 in one hour and 15 minutes on Wednesday, becoming the first player to book her spot in the quarter-finals. The Belarusian said the victory over the 2021 French Open winner handed her a confidence boost ahead of the May 28-June 11 major on the Parisian clay. "It's tough but an interesting challenge to play the first match against a Grand Slam champion," Australian Open winner Sabalenka, who received a bye in the opening round, told reporters. "It is something unique like you're never going to play the first round against a Grand Slam champion in the bigger tournament.

☆ Ford F-150 Lightning fire footage highlights a growing EV risk
▼ + stars: | 2023-04-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

EV fires have become a growing concern as automakers push to increase sales of electric vehicles and meet tightening emissions standards. An electric Ford F-150 Lightning caught fire on Feb. 4, 2023 due to a battery issue traced back to one of the automaker's suppliers. A bill that requires them to complete a training program about the risk of electric vehicle fires passed unanimously this year. There's also the risk of reignition: Lithium-ion battery fires can re-engage weeks later with little to no warning. An electric Ford F-150 Lightning caught fire on Feb. 4, 2023 due to a battery issue traced back to one of the automaker's suppliers.

☆ Maserati's going electric while simultaneously reconnecting to its gas-powered past
▼ + stars: | 2023-04-19 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Next year, Maserati will reveal a fully electric sedan for which they will be no gas-powered version at all. So does Ferrari, Maserati’s sister brand until a few years ago when it was spun off under its own stock symbol. The Maserati Grecale SUV has an aggressive driving feel. Now that the spinoff of Ferrari has left Maserati the company’s only ultra-luxury brand, Grasso feels more is expected, he said. “We can only be at ease when Maserati’s profitability is above Stellantis’s profitability,” he said.

☆ I started my Turo business with one car and grew my fleet to 69 cars. Now I can afford a luxury apartment and multiple vacations every year.
▼ + stars: | 2023-04-19 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +5 min

Natalia Zorina is a Turo host in Miami who started her business on the car-rental app in 2018. I started Turo as a side hustle with one carI'm from Ukraine and moved to the US in 2017. I started renting our family car, a 2011 Porsche Cayenne, on Turo in 2018. Luxury family cars, like Mercedes SUVs, are also in demand because tourists in Miami come here to enjoy the luxury vibe of the city. In my fleet, I have a yellow car, orange car, blue cars, green cars — I have all sorts of colors.

☆ Emma Raducanu beaten in less than an hour by Jelena Ostapenko in Stuttgart
▼ + stars: | 2023-04-19 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +2 min

CNN —Britain’s Emma Raducanu suffered another agonizing defeat, after being knocked out in the first round of the Stuttgart Open on Tuesday. Jelena Ostapenko took less than an hour to thrash Raducanu 6-2, 6-1 in straight sets at the Porsche Tennis Grand Prix. “It’s never easy playing Emma,” the Latvian, the 2017 French Open champion, told reporters. Raducanu suffered an ankle injury before the Australian Open earlier this year, while tonsillitis forced her to withdraw from the Austin Open in February. “Emma’s level is there for sure,” Robson told Eurosport.

☆ China’s GDP beat looks a tad too reassuring
▼ + stars: | 2023-04-18 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +3 min

The risk is the shopping recovery gets bifurcated between luxury purchases and basic needs, leaving out big-ticket middle-class items. Meanwhile, Chinese savers added another 10 trillion yuan ($1.4 trillion) to their household deposits in the first quarter, reinforcing concerns that they will keep hoarding instead of splurging. Bank loans hit an all-time high of 10.6 trillion yuan in the first quarter, yet that did not appear to translate into private investment in fixed assets, which is barely growing. In a speech in March, Cai Fang, a member of the central bank’s monetary policy committee, suggested transferring 4 trillion yuan directly to households to compensate for weak income growth. If the first quarter’s print turns out to be misleadingly rosy, China’s reopening boom could quiet down quickly.

☆ Porsche posts record Q1 sales rise boosted by China
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Porsche Head of Style Michael Mauer presents a new design study of a Porsche 357 during the 75 years Porsche sports car exhibition "Driven by Dreams" in Berlin, Germany, January 25, 2023. REUTERS/ Lisi Niesner/File PhotoApril 17 (Reuters) - Porsche AG (P911_p.DE) posted a record year-on-year sales increase of 18% in the first quarter, boosted by China sales, the company said on Monday. The German luxury carmaker delivered 21,365 cars in China, its largest single market, representing 21% growth over the previous year. Peer Mercedes (MBGn.DE) delivered 191,000 vehicles in China in the first three months of 2023, which is 3% higher over the previous year. Worldwide, Porsche delivered 80,767 cars during the period, with an increase posted in every region.

☆ Brands look to China's tropical duty free island paradise for consumer comeback
▼ + stars: | 2023-04-14 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

HAIKOU, China, April 14 (Reuters) - Representatives of over 3,000 brands including Burberry and Estee Lauder descended on China's Hainan this week to show off their latest wares, hoping to cash in on a post-COVID consumer rebound that has kicked off on the island known for its duty free shopping. It especially boomed during COVID, attracting Chinese shoppers unable to travel abroad due to closed borders. And China further plans to elevate its status: by 2025, it plans to make the whole island duty free, essentially expanding the 10% to 40% cheaper prices on goods from beauty, to alcohol and luxury products from 12 existing duty free malls to the entire province. That has made high-end global consumer firms keen to attend the expo as a way of demonstrating their commitment to China, industry executives said. ($1 = 6.8677 Chinese yuan renminbi)Reporting by Casey Hall; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ China's BYD bets on self-developed chassis suspension system
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, April 10 (Reuters) - China's BYD launched on Monday a new chassis suspension system as the electric vehicle maker ramps up efforts to move upmarket with premium products. The system, BYD DiSus Intelligent Body Control System, is similar to the chassis suspension systems available in premium and luxury cars, such as Porsche's Dynamic Chassis Control and Mercedes Benz's Magic Body Control. The DiSus system will come in three variations and will be used in BYD's luxury off-road SUV Yangwang U8 initially, BYD said in a statement. BYD launched its first luxury car brand Yangwang in January with an off-road SUV and a sportscar priced above 1 million yuan. BYD has benefited from its strategy to use self-developed batteries and powertrain systems.

☆ ‘Air’ Review: Ben Affleck’s Sneaker Story
▼ + stars: | 2023-04-07 | by ( Kyle Smith | ) www.wsj.com time to read: +1 min

Do you care enough about a sneaker-endorsement deal from nearly 40 years ago to watch a movie about it? “Air” and its director, Ben Affleck , think that you might, if the sneaker is Nike and the endorser is Michael Jordan . And wouldn’t it be great if people returned to the multiplexes for a reality-grounded story that features no superpowers unless you count Mr. Jordan’s celebrated ability to fly to the bucket? Instead of the usual green-screen overload, Mr. Affleck offers lots of what used to be known as star power, before it became clear that actors no longer drive sales. Welcome to a strange attempt at an underdog tale about a publicly traded corporation with sales in the hundreds of millions and a boss who drives a high-end Porsche.

☆ Goldman Sachs just turned bearish on BMW and others — and Tesla could be to blame
▼ + stars: | 2023-04-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has warned that European automakers are at risk of losing market share to Tesla and Chinese firms. The Wall Street investment bank said the transition toward battery electric vehicles in Europe could spark swings in some share prices. Europe's incumbent mass-market brands accounted for 72% of sales last year, Goldman Sachs analysts said. Chinese electric car maker Nio announced plans to open a manufacturing plant in Hungary last year. The change in regulation allowing for e-Fuel — a synthetic drop-in replacement for gasoline — also has the potential to de-risk companies and brands, according to Goldman Sachs.

☆ I went to see Ben Affleck's new "Air" movie with some Nike veterans. Here's what they said the movie got right and what it got wrong about the race to sign Michael Jordan.
▼ + stars: | 2023-04-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

The movie also shows how early Nike employees didn't hesitate to break rules. The scene sums up what's right, and what's wrong, with the movie, according to former and current Nike employees. It shows early Nike employees didn't hesitate to take risks. Nike veterans said the movie captures the company's willingness to take risks, especially early executives like Phil Knight, played by director Ben Affleck. Affleck, who also played Knight in the movie, nailed the story's arc, by all accounts.

☆ I watched Ben Affleck's new 'Air' movie with 72 Nike veterans. Here's what they said the movie got right and what it got wrong about the race to sign Michael Jordan.
▼ + stars: | 2023-04-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

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