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Reuters | Equities.com |

SHANGHAI (Reuters) - Tesla Inc’s stock jumped above $1,000 a share on Wednesday after Chief Executive Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to “volume production.” Musk, in an email seen by Reuters on Wednesday, did not specify a time frame for ramping up production of the Semi. Musk on Wednesday tweeted “Yes” to a question on Twitter about whether the report of the leaked Semi truck production email was accurate. Tesla


Reuters | Equities.com |

DETROIT (Reuters) - General Motors Co is developing an electric van aimed at business users, joining a growing list of carmakers planning EVs for the same segment which includes customers such as Amazon.com Inc and United Parcel Service Inc, five people familiar with the plans told Reuters.That multibillion-dollar strategy could enable GM, Ford Motor Co and at least two EV startups to build and deliver more electric vehicles at a time when consumer demand for batte...


Reuters | Equities.com |

(Reuters) - German automaker Volkswagen AG has closed its $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup disclosed in a blog post on Tuesday. Argo, founded in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by VW and Ford Motor Co, which made an initial investment in Argo shortly after it was founded. Details of the VW investment, which does not include an agreement to purchase $500 million worth of Argo stock from Ford, was announced last July....


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PARIS/TOKYO (Reuters) - Renault, Nissan Motor Co and Mitsubishi Motors Corp ruled out a merger on Wednesday and doubled down on a plan to cooperate more closely on car production to save costs and salvage their troubled alliance. The companies have been hit hard by the coronavirus pandemic just as they were trying to rework their partnership following the arrest of its chief architect, Carlos Ghosn, who had been pushing for a merger despite stiff resis...


Jeff Kagan | Equities.com |

AT&T and Comcast are the two key companies that are transforming and expanding the telecommunications industry. This started 15 – 20 years ago and is continuing today. Looking backwards, we see all these different industry segments as separate. Looking forward, they are all coming together and expanding. Let’s take a closer look at AT&T and Comcast as leaders of the changing industry.In the 1990s, each industry segment was separate. Different companies competed in each segment like l...


Reuters | Equities.com |

(Reuters) - General Motors Co is delaying the resumption of second shifts at truck assembly plants in Michigan, Indiana and Mexico because of a lack of parts from Mexico, a person briefed on the matter said. The Detroit automaker, which resumed production on Monday after suspending operations in March because of the coronavirus pandemic, will launch a second shift next week only at its Lansing Delta Township plant. It will not immediately begin, as it had hoped, second shifts on Monday at its F...


Reuters | Equities.com |

TOKYO (Reuters) - Nissan Motor Co is considering cutting 20,000 jobs from its global workforce, focusing on Europe and developing countries, Kyodo news reported on Friday, as the Japanese automaker struggles to recover from plunging car sales. The possible cuts come as Nissan prepares to announce its updated mid-term strategy next week. Profits at the automaker have been floundering for the past three years, and the coronavirus pandemic has only piled on urgency and pressure to renew efforts to...


Reuters | Equities.com |

U.S. auto industry returns to life after lockdownBy Ben KlaymanWARREN, Michigan (Reuters) - The Detroit Three automakers and their suppliers began restarting assembly lines on Monday after a two-month coronavirus lockdown in a slow revival of a sector that employs nearly 1 million people in the United States.On a chilly and damp Monday morning, hundreds of workers at Fiat Chrysler Automobile’s (FCA) truck plant in Warren, Michigan began lining up before 4 a.m. to start the 5 a.m. shift. Signs ...


Reuters | Equities.com |

MILAN (Reuters) - Fiat Chrysler is in talks with Italian lender Intesa Sanpaolo over a 6.3 billion euro ($6.8 billion) state-guaranteed loan to help the automaker weather the coronavirus crisis, a source close to the matter said on Friday. The loan, which is part of emergency liquidity measures the government is making available to the country’s businesses, must be approved by Intesa Sanpaolo’s board, the source said. Once approved by the lender, the request will be reviewed by Italy’s e...


David Trainer | Equities.com |

For long-term investors, now is an excellent time to buy leading businesses, with the cash flows and balance sheet to survive the downturn, at significant discounts. Investors overlooking Simon Property Group are in the Danger Zone. Investors willing to lift their gaze past the (inevitable and steep) dip in economic activity should consider this Long Idea for their portfolio. Simon’s History of Profit Growth. Simon is down 63% year-to-date (YTD) and trades below its economic book value, or no-growth ...