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[1/2] The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File PhotoWASHINGTON, April 18 (Reuters) - The U.S. Justice Department on Tuesday said it had reached a settlement with General Motors Co (GM.N) to resolve the department's allegation that the automaker discriminated against non-U.S. citizens. Under the terms of the agreement, the Detroit-based company will pay $365,000 in civil penalties to the United States, the Justice Department said in a statement. GM in a statement said it had cooperated with the investigation and was committed to a discrimination-free workplace. The agreement reached on Tuesday requires GM to train its personnel on the law's requirements, revise its employment policies and be subject to monitoring and reporting requirements.

[1/2] A Fiat Chrysler Automobiles (FCA) sign is at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File PhotoWASHINGTON, April 17 (Reuters) - The U.S. Supreme Court on Monday declined to hear a bid by General Motors Co (GM.N) to revive its racketeering lawsuit against rival automaker Fiat Chrysler Automobiles (FCA), now part of Franco-Italian automaker Stellantis NV , over bribery allegations involving the United Auto Workers union. Stellantis in a statement praised the court's decision to turn away what it described as "baseless claims" by GM. "Today's decision upholding the district court's dismissal of GM's lawsuit is another reaffirmation that its claims are meritless," Stellantis said. FCA paid a $30 million fine while the UAW agreed to independent oversight to resolve the U.S. Justice Department investigation.

[1/2] The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Many teem with lithium, calcium and other minerals, and DLE technologies aim to separate out the lithium and leave the rest. LITHIUM METAL FROM BRINEEnergyX has said its technology can make lithium metal directly from brine, a tantalizing prospect for GM that could let the automaker bypass lithium refining, which is widely seen as a key supply chain bottleneck. The EnergyX investment comes after GM in January agreed to pay $650 million to become the largest shareholder in Lithium Americas Corp (LAC.TO), which is developing the Thacker Pass clay lithium project in Nevada. "This GM investment will completely change the trajectory of EnergyX," said Teague Egan, the startup company's founder and chief executive.

☆ Ford hikes F-150 Lightning's price again to battle high costs
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

[1/3] A model of the all-new Ford F-150 Lightning electric pickup is parked in front of the Ford Motor Company World Headquarters in Dearborn, Michigan, U.S. April 26, 2022. REUTERS/Rebecca CookMarch 30 (Reuters) - Ford Motor Co (F.N) has raised the base price of its popular F-150 Lightning electric pickup truck again, the automaker's website showed on Thursday, the latest in a series of price hikes aimed at offsetting high costs. The base variant of Ford's electric F-150 truck now starts at $59,974, excluding shipping and taxes, up nearly 50% from its starting price when launched last year. The Detroit automaker resumed production of the F-150 Lightning earlier this month after recalling 18 electric trucks due to a battery-cell manufacturing defect. A week earlier, Ford said its electric-vehicle business unit was expected to lose $3 billion this year, but remained on track to achieve a pretax margin of 8% by late 2026.

☆ In victory for labor unions, Michigan governor repeals 'right-to-work' law
▼ + stars: | 2023-03-24 | by ( Dan Whitcomb | ) www.reuters.com time to read: +2 min

[1/2] Michigan Governor Gretchen Whitmer makes a campaign stop at the IBEW Local 58 union hall in Detroit, Michigan, U.S. November 5, 2022. REUTERS/Rebecca CookMarch 24 (Reuters) - Michigan Governor Gretchen Whitmer on Friday signed a package of bills repealing the state's so-called "right to work" law that allowed workers to opt out of unions, a long-sought victory for labor organizers facing an era of diminished power. "Michigan workers are the most talented and hard-working in the world and deserve to be treated with dignity and respect," Whitmer, a two-term Democrat, said in a statement. House Bill 4007 requires that contractors hired by the state pay a so-called prevailing wage, the amount used when hiring union workers. The Michigan state legislature, controlled at the time by Republicans, in 2012 passed a right-to-work law over the objections of union activists.

Club holdings Apple (AAPL) Ford Motor (F) and Estee Lauder (EL) were in the news Thursday. Apple has primarily released its content directly on Apple TV+, with some projects getting limited runs in a handful of cinemas. The Club's take: We welcome Apple making smart, strategic investments that make Apple TV+ a more valuable streaming service to potential subscribers. Estee Lauder EL YTD mountain Estee Lauder stock performance year-to-date. The news: Citi outlined its bull and bear cases for Club holding Estee Lauder in a research note Thursday.

REUTERS/Rebecca Cook/File PhotoMarch 6 (Reuters) - American carmakers will lean on technology to keep the horsepower wars going among their electric muscle cars, a tectonic shift from the big, rumbling motors of the past. GM and Dodge have both issued timelines to stop selling gas-powered muscle cars and replace them with electric variants that will wear the same badges. Dodge's Charger and Challenger muscle cars will not be made next year, while Chevrolet has laid out plans for an electric Corvette. Brands such as Polestar and Mercedes-Benz (MBGn.DE) have announced optional power upgrades to their sedans that improve acceleration and total horsepower via paid OTA (over-the-air) software updates. Dodge has said it will transition its muscle cars to an electric platform, and is working to differentiate those models.

REUTERS/Rebecca CookFeb 27 (Reuters) - Ohio residents suing Norfolk Southern Corp (NSC.N) over a train derailment that spilled toxic chemicals urged a U.S. judge on Monday to block the company from destroying the wreckage without first giving them ample opportunity to inspect the crash site. The derailment of the Norfolk Southern operated train in East Palestine on Feb. 3 forced thousands of residents to evacuate while railroad crews drained and burned off toxic chemicals. They asked the judge to give their experts more time before Norfolk Southern removes and destroys the wreckage, which was slated to start on Wednesday. She asked whether Norfolk Southern could remove low-priority cars to an offsite storage location for later inspection, or if other options were available. The EPA on Saturday announced it was temporarily pausing Norfolk Southern's shipment of material from the crash site, but promised those efforts would resume soon.

Stellantis said it had achieved cash synergies of 7.1 billion euros last year, far exceeding the 5 billion euros by 2024 target it had set at the time of the merger. Stellantis's adjusted second-half earnings before interest and tax (EBIT) grew 17% to 10.95 billion euros, topping a consensus estimate of 9.63 billion euros in a Reuters poll of analysts. The margin on adjusted EBIT was 12% in the second half, down from 14.1% in the first six months of the year. It reiterated the same margin target for 2023, as well as one for positive cash flows. ($1 = 0.9393 euros)Reporting by Giulio Piovaccari; Editing Jan Harvey, Mark Potter and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Bumper merger savings help Stellantis profit top forecast
▼ + stars: | 2023-02-22 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +3 min

It will also pay a dividend of 4.2 billion euros on 2022 results, or 1.34 euros per share. Adjusted earnings before interest and tax (EBIT) came in at 10.95 billion euros for July-December, topping analysts' consensus estimate in a Reuters poll of 9.63 billion euros. It reiterated the same margin target for 2023, as well as one for positive cash flows. Increased industrial costs had an overall impact on the group's results last year of over 9 billion euros. "Challenges continue in securing capacity for (vehicle) outbound transportation: initially it was from plants to compounds and from compounds to dealers.

☆ Five students wounded in Michigan State shooting still critical, police say
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

[1/4] Michigan State University students protest in front of the State Capitol against guns, following a mass shooting of eight MSU students on Monday at campus, in Lansing, Michigan U.S. February 15, 2023. REUTERS/Rebecca CookFeb 16 (Reuters) - Five students wounded in a shooting at Michigan State University remain in critical condition, three days after a heavily armed gunman entered two buildings at the campus and opened fire, killing three other students, police said on Thursday. The gunman, identified as Anthony Dwayne McRae of Lansing, Michigan, shot himself to death after the rampage on Monday night. The five hospitalized students were improving but were still in critical condition as of Thursday morning, Chris Rozman, interim deputy police chief at Michigan State, said during a news briefing. Their lives were saved by fellow students who rendered aid as the mass shooting was unfolding, said Marlon Lynch, the university's police chief.

☆ Ford halts F-150 EV production, deliveries after battery fire
▼ + stars: | 2023-02-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/3] The Lightning logo is seen on the side of an all-new Ford F-150 Lightning electric pickup truck outside the Ford Motor World Headquarters in Dearborn, Michigan, U.S., April 26, 2022. REUTERS/ Rebecca CookWASHINGTON, Feb 15 (Reuters) - Ford Motor Co (F.N) on Wednesday said the suspension of production of its F-150 Lightning electric vehicle (EV) will last until at least the end of next week after a battery fire involving one of the vehicles earlier in the month. The company said it halted production the next day at its assembly plant in Dearborn. The automaker on Tuesday said it had halted production and deliveries, and on Wednesday gave further details. Ford said it will continue to hold "already-produced vehicles while we work through engineering and process updates."

☆ GM, Ford must convince investors they can profit as prices fall
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

Already there are signs the Detroit automakers are scaling back spending to offset competitive and economic pressure. GM and Ford both rely on sales of pickup trucks and SUVs in the United States for the bulk of their global profits. The risk to the Detroit automakers' profitability would be a challenge in the best of times. But now, GM and Ford must factor in forecasts for a slowdown, or even a recession, in the U.S. economy. The Model Y SUV competes with Ford's Mustang Mach-E, GM's Cadillac Lyriq EV, and with combustion SUVs the Detroit automakers sell.

☆ GM, LG Energy drop plan for fourth U.S JV battery plant
▼ + stars: | 2023-01-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Rebecca CookWASHINGTON, Jan 20 (Reuters) - General Motors Co (GM.N) and LG Energy Solution (373220.KS) do not plan to move forward with a fourth U.S. battery cell manufacturing plant, two sources told Reuters on Friday. "We’ve been very clear that our plan includes investing in a fourth U.S. cell plant, but we’re not going to comment on speculation," GM said in a statement Friday. LG Energy did not immediately comment. GM could still proceed with plans to build a new plant in Indiana with a new partner, the sources said. GM and LG Energy are building a $2.6 billion plant in Michigan, set to open in 2024.

☆ Warren Buffett's dream business is a little chocolate maker that's generated a 8,000% return for him. Here are 5 reasons why he loves See's Candies.
▼ + stars: | 2022-12-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

"Every person in California has something in mind about See's Candies and overwhelmingly it was favorable," Buffett told a group of business-school students at the University of Florida in 1998. "They had taken a box on Valentine's Day to some girl and she had kissed him … See's Candies means getting kissed," he added. Unsurprisingly, See's has raised its prices from less than $2 a pound in 1972 to more than $20. When Tesla CEO Elon Musk criticized economic moats like brand loyalty as "lame" on an earnings call in 2018, Buffett fired back. "Elon may turn things upside down in some areas," he said at the next annual shareholder meeting, according to Fortune.

[1/2] Michigan Governor Gretchen Whitmer speaks during a vaccine mobilization event at TCF center in Detroit, Michigan, U.S. July 12, 2021. REUTERS/Rebecca CookDec 15 (Reuters) - Three men convicted of playing supporting roles in a foiled plot to kidnap the governor of Michigan in 2020 were sentenced to multiple years in prison on Thursday, as two of the conspiracy's ringleaders await sentencing before the end of the month. During the two-hour hearing, the men - dressed in orange prison jumpsuits - sat with their attorneys with their hands shackled to their waists. The group planned to break into Whitmer's vacation home, kidnap her and take her at gunpoint to stand "trial" on treason charges, prosecutors said. In August, two alleged militia members accused of conspiring to trigger a "second American revolution" in the kidnapping plot were found guilty of kidnapping conspiracy charges.

☆ GM CEO sees U.S. new-car sales rebounding in 2023
▼ + stars: | 2022-12-08 | by ( Joseph White | ) www.reuters.com time to read: +1 min

[1/2] General Motors CEO Mary Barra speaks to reporters while she waits for the arrival of President Joe Biden at media day of the North American International Auto Show in Detroit, Michigan,September 14, 2022. Barra said she expects 2023 U.S. sales of new cars and light trucks to finish at 15 million units. That would be up from an estimated 13.7 million in 2022 and in line with an expected 14.7 million in 2023, according to S&P Global Mobility. "We are seeing strong demand for our vehicles," Barra said, speaking at an Automotive Press Association event in Detroit. Barra said GM is planning “to be very conservative on costs” in its 2023 budgeting, in light of uncertainty about economic growth.

☆ Ford must bring more work in-house to preserve jobs - CEO
▼ + stars: | 2022-11-15 | by ( Joseph White | ) www.reuters.com time to read: +2 min

[1/2] Ford CEO Jim Farley attends the official launch of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S. April 26, 2022. Electric vehicles will require 40% less labor to build than current combustion vehicles, Farley told a conference in Detroit sponsored by the Rainbow PUSH Coalition, a civil rights group. Bringing production of electric vehicle motors, batteries and other components in-house was necessary to preserve jobs and to be competitive, Farley said. 1 U.S. electric vehicle maker, builds much of the hardware for its electric vehicles, including batteries. Ford has begun building an electric vehicle manufacturing complex in Western Tennessee called Blue Oval City.

☆ Election denier loses race in Michigan; Arizona and Nevada not yet called
▼ + stars: | 2022-11-09 | by ( Michelle Nichols | ) www.reuters.com time to read: +4 min

[1/2] Republican candidate for Michigan Secretary of State Kristina Karamo campaigns in Clinton Township, Michigan, U.S. November 4, 2022. Democratic President Joe Biden narrowly won Michigan, Arizona and Nevada in 2020 and Trump and his allies have falsely claimed that the results were fraudulent. As of Wednesday, States Action United said 13 election deniers had won a statewide role in election administration in 9 states, while 24 election deniers had lost races in 17 states. The races in Michigan, Arizona and Nevada are particularly important because they are key battleground states. Ahead of Tuesday's elections, Biden accused Trump of inspiring Republican election denier candidates and warned voters: "Democracy is on the ballot for all of us."

☆ GM, Ford set to report earnings to a tough crowd on Wall Street
▼ + stars: | 2022-10-21 | by ( Joseph White | ) www.reuters.com time to read: +3 min

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Ford follows on Wednesday, having already warned investors that third quarter results will fall short of expectations because of supply chain and logistics snarls. Wall Street investors have not waited to act on wariness that demand for cars is finally entering a long-delayed cyclical downturn. GM shares are down 19% since Sept. 19. So far, neither GM nor Ford has cut full-year profit guidance.

A Reuters investigative report in July documented children, including a 12-year-old, working at a Hyundai-controlled metal stamping plant in rural Luverne, Alabama, called SMART Alabama, LLC. read moreFollowing the Reuters report, Alabama's state Department of Labor, in coordination with federal agencies, began investigating SMART Alabama. The executive also pledged that Hyundai would push to stop relying on third party labor suppliers at its southern U.S. operations. Munoz told Reuters: "Hyundai is pushing to stop using third party labor suppliers, and oversee hiring directly." SL and Smart Alabama did not immediately respond to requests for comment.

☆ Ford's fundamentals remain strong, despite CEO's recession worries, productions snags
▼ + stars: | 2022-09-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

"The risk has gone up for a moderate recession certainly from all the indicators we've seen," Farley said. Earlier in the week, Jim said that investors who don't own any shares of Ford should buy "aggressively" to take advantage of the yield . Chips shortage Despite the ongoing supply chain challenges, Farley said the automaker's chip shortage is improving. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022.

☆ Lowered profit forecasts raise concerns on shaky Wall Street
▼ + stars: | 2022-09-26 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

With that, concern about earnings has been rising as companies face higher inflation and possibly weakening demand. "The market is most worried about demand slowing in the U.S. and demand slowing globally," she said. Analysts have cut their S&P 500 earnings estimates for the third and fourth quarters, and for all of 2022. "Really up until maybe a month or two ago, we didn't see much in the way of earnings downgrades. The S&P 500 (.SPX) is down 23% for the year so far, while the Nasdaq is down 31%.

☆ Fiona Hits Canada With Heavy Wind And Rain, Knocking Out Power to Thousands
▼ + stars: | 2022-09-25 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Ford Reveals New Mustang With Gas Engine to Attract Muscle-Car Fans Ford showed its seventh-generation Mustang sports car at the Detroit auto show on Wednesday. The company said the new model will stick with a gas engine, a strategy that contrasts with some of its rivals that are going electric. Photo: Rebecca Cook/Reuters

☆ GM to invest $760 million to shift Ohio plant to EV-part production
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca CookToledo, OHIO/WASHINGTON, Sept 23 (Reuters) - General Motors Co (GM.N) said Friday it will invest $760 million at its Toledo, Ohio factory to build drive units for electric trucks, the automaker's first U.S. powertrain facility repurposed for EV-related production. Congress in August approved significant financial incentives for automakers to convert plants producing parts for gasoline-pore vehicles to electric models. Many autoworkers have expressed concerns about the shift to EVs and if it would impact current auto employment. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Shepardson and Joseph White Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

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