Author: Admins
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Stellantis and Aston Martin shares fall sharply on profit warnings
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shares in Stellantis and Aston Martin fell sharply on Monday after they became the latest European carmakers to issue profit warnings as the industry is hammered by competition from cheaper Chinese rivals. Stellantis fell 13…
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Europe’s biggest automaker is in decline. Volkswagen issues second profit warning due to weak demand and fading relevance in China
Volkswagen AG’s second profit warning in three months makes one thing clear: Europe’s biggest automaker is in decline. The German manufacturer on Friday slashed expectations for revenue, profit and cash flow due to waning demand for its cars. The company now expects to deliver fewer vehicles this year than in 2023 — its fourth annual sales slump…
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California Gov. Newsom signs 2 bills to protect children from AI-generated deepfake sexual images
California Gov. Gavin Newsom signed a pair of proposals Sunday aiming to help shield minors from the increasingly prevalent misuse of artificial intelligence tools to generate harmful sexual imagery of children. The measures are part of California’s concerted efforts to ramp up regulations around the marquee industry that is increasingly affecting the daily lives of…
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Stock market today: Stocks rise in China on property stimulus
Beijing’s economic stimulus measures extended China’s market rally into a second week, while Japan’s choice of former Defense Minister Shigeru Ishiba as the country’s next prime minister knocked down shares in Tokyo. S&P 500 Futures: 5,787.50 ⬇️ down 0.07% S&P 500: 5,738.17 ⬇️ down 0.13% Nasdaq Composite: 18,119.59 ⬇️ down 0.39% Dow Jones Industrial Average: 42,313.00 ⬆️…
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Michigan nuclear plant finalizes federal loan to support first reactor restart in U.S. history
The Palisades Nuclear Generating Station in Covert, Mich. John Madill | The Herald-Palladium | AP The Palisades nuclear plant in Michigan has closed a $1.5 billion loan to support the first reactor restart in U.S. history, the Department of Energy announced Monday. Palisades’ owner, Holtec International, hopes to restart the plant in the fourth quarter…
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How Medicare Advantage insurers gain influence and keep billions in overcharges
Federal officials resolved more than a decade ago to crack down on whopping government overpayments to private Medicare Advantage health insurance plans, which were siphoning off billions of tax dollars every year. But Centers for Medicare & Medicaid Services officials have yet to demand any refunds — and over the years the private insurance plans…
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Fury in Portugal as thousands protest ‘illegal and uncontrolled’ immigration
Thousands of protesters waving Portuguese flags and roaring the national anthem rallied in Lisbon on Sunday to express their anger at “illegal” and “uncontrolled” immigration. The demonstrators marched behind banners demanding the “end of mass immigration” and the expulsion of immigrants guilty of crimes at the protest called by the far-right Chega party, the country’s…
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Dodge-maker Stellantis drops profit warning
The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. Jeff Kowalsky | Afp | Getty Images Stellantis on Monday trimmed its 2024 annual guidance on the back of deteriorating “global industry dynamics” and bolstered competition from China, sending Milan-listed shares lower on open. The…
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Lebanon’s most powerful force reels from loss of leader
Over the past two decades, Lebanese of all political persuasions got used to a familiar routine: whenever a significant national event took place, Hizbollah leader Hassan Nasrallah would address them and signal the direction his movement would seek to push the country. But this weekend, Lebanese woke up with their fragile nation in crisis and…
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The Federal Reserve’s insurance policy
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy If taken at face value, Federal Reserve chair Jay Powell’s justification for the unusually aggressive start to the central bank’s…