FRANKFURT (Reuters) -Germany’s economy ministry plans to downgrade its 2024 economic growth forecast, expecting Europe’s largest economy to shrink by 0.2%, newspaper Sueddeutsche Zeitung reported on Sunday. The forecast for an inflation-adjusted contraction, which the ministry is due to publish on Wednesday, follows a previous government projection of 0.3% growth this year after a 0.3% contraction in 2023. Last month Germany’s leading economic institutes downgraded their forecast for 2024 to a contraction of 0.1%. The ministry, led by Robert Habeck of the Green party, also plans to issue a forecast for 2025 economic growth of 1.1%, up from 1% forecast…
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Shares of Rivian Automotive fell by as much as 8.9% during Friday’s intraday trading after the electric vehicle startup reported lower-than-expected vehicle deliveries for the third quarter and revised its annual production forecast for 2024 downward. Rivian stated that its updated production target, which has been reduced from 57,000 units to a range of 47,000 to 49,000, is due to a “production disruption caused by a shortage of a shared component” used in both its R1 vehicles and its commercial van. “This supply shortage, which began impacting us in Q3, has worsened in recent weeks and remains ongoing. Consequently, Rivian…
Levi Strauss (LEVI) hopes a Beyoncé marketing campaign can upgrade brand growth.The denim manufacturer announced its partnership with the music megastar, whose most recent “Cowboy Carter” album featured a song called “Levii’s Jeans,” just before reporting third quarter earnings results.”We are honored that we are partnering with a global icon like Beyoncé, … somebody who stands for empowering women and somebody whose values align with ours,” Levi Strauss & Co. CFO Harmit Singh told Yahoo Finance on Thursday. “And so, our view is … this is a win-win for both Beyoncé as well as us.”Levi Strauss stock moved 8% higher…
General Motors has temporarily paused vehicle production at two U.S. plants that assemble highly profitable large pickups and SUVs, due to supply chain disruptions caused by Hurricane Helene. The automaker canceled shifts on Thursday and Friday at its Flint, Michigan, plant, which manufactures heavy-duty trucks, as well as at the Arlington Assembly plant in Texas, where full-size SUVs such as the Chevrolet Tahoe, Cadillac Escalade, and GMC Yukon are produced. As of Friday morning, a GM spokeswoman declined to predict when the plants would resume production. However, a message sent to workers at the Arlington facility on Thursday, indicated that…
ULKEN, Almaty region, Kazakhstan (Reuters) -Kazakhstan voted in a referendum on Sunday on whether to build its first nuclear power plant, an idea promoted by President Kassym-Jomart Tokayev’s government as the Central Asian nation seeks to phase out polluting coal plants. The plan has faced public criticism on concern over any related hazards, the Soviet nuclear testing legacy, and fears that Russia will be involved in the project. Almost 64% of registered voters cast their ballots by 8 p.m. local time (1500 GMT) when the polling stations closed, the Central Election Commission said, making the vote valid. It will announce…
Hyundai Motor and Waymo have entered into a multiyear strategic partnership, which includes the addition of Hyundai’s Ioniq 5 electric vehicle to Waymo’s robotaxi fleet. The companies announced on Friday that Waymo’s sixth-generation autonomous technology, known as the Waymo Driver, will be integrated into the Ioniq 5 in a “significant volume” over several years to support Waymo’s growing robotaxi business, which is backed by Alphabet. This announcement follows nearly two months after Waymo introduced its latest “generation 6” self-driving technology. This advanced technology, which will also be integrated into Geely Zeekr electric vehicles, is designed to handle a broader range…
Stellantis is taking legal action against the United Auto Workers (UAW), intensifying a lengthy conflict between the trans-Atlantic automaker and the American labor union. In an internal communication sent to employees on Friday, which was verified as genuine, the company announced that it is suing both the UAW and a local chapter in California. The lawsuit pertains to a strike authorization request vote at Stellantis’ Los Angeles Parts Distribution Center. “This lawsuit aims to hold both the International and the local union accountable for the revenue loss and other damages resulting from lost production due to an unlawful strike,” Tobin…
VANCOUVER, BC, Oct. 6, 2024 /PRNewswire/ – OceanaGold (OTC:) Corporation (TSX: OGC) (OTCQX: OCANF) (“OceanaGold” or the “Company”) welcomes the inclusion of projects at both our Waihi and Macraes mines in the list of proposed projects under the New Zealand Government’s Fast-track Approvals Bill for regionally and nationally significant infrastructure and development projects. Yesterday, the New Zealand Government released the names of 149 Listed Projects that will be eligible to apply for approvals through processes under the proposed Fast-track Approvals Act. Included in the list was the Waihi North Project, which includes the highly prospective Wharekirauponga (WKP) proposed underground mine,…
Ford Motor is enhancing the sophistication and technology of its large Expedition SUV as part of a redesign aimed at better positioning the vehicle against increasing competition in the full-size SUV segment. The redesigned three-row SUV offers a more refined interior and exterior, improved comfort, and advanced convenience features. Highlights include a 24-inch driver display and the addition of Ford’s BlueCruise hands-free highway driving system, providing a smoother and more high-tech driving experience. “We spent over 1,100 hours engaging with customers to understand their daily lives. With those insights, we’ve reimagined the Expedition to help customers maximize valuable family time…
Unique Custom Cycles, a Scandinavian workshop renowned for its expertise in Harleys and BMWs, has garnered international acclaim for its exceptional custom builds. Based just outside Stockholm, Sweden, the workshop is led by brothers Ronna and Benna Noren, whose innovative designs have even influenced BMW’s R18 model. One of their most notable creations, the R 5 Hommage, presented at the Concorso d’Eleganza Villa d’Este in 2016, shares striking similarities with the R 18. The R 5 Hommage, a masterpiece of engineering and design, showcases UCC’s ability to transform a classic motorcycle into a truly unique and breathtaking machine. Unique Custom…