Ford to restructure supply chain after $1 billion in unexpected costs

Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland DETROIT – Ford Motor on Thursday announced plans to restructure its global supply chain, days after the company said it expects to book an extra $1 billion in unexpected supplier … Read more

Xpeng breaks out of a lower price range with its more expensive car G9

Xpeng has announced its most expensive car to date. Pictured here at a store in Shanghai, China, on July 2021 are two of Xpeng’s previously released models, a P7 Wing Limited Edition in green and a G3 SUV in blue. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Xpeng has … Read more

There’s only one ‘perfect asset’ to fight all the bad news that could be coming, says this strategist

Ahead of that, stock futures are falling after Ford warned on high supply costs, on the heels of FedEx’s FDX, +1.17% profit caution last week. The dollar and cash have been among the most popular havens for investors as they navigate recession risks with higher rates and higher inflation, alongside a brutal war in Europe. … Read more

Chinese EV maker Xpeng launches rival to Tesla’s Full Self Driving system

Xpeng launched a feature that allows its cars to semi-autonomously navigate urban environments, marking its latest challenge to U.S. electric vehicle giant Tesla. The Chinese start-up announced Monday that it was piloting a feature known as City NGP, which stands for navigation guided pilot. Xpeng claims that City NGP will allow the vehicle to perform a … Read more

Volkswagen targets $70.1 billion to $75.1 billion valuation in planned Porsche IPO

The name of the car manufacturer Porsche is attached to the curved facade of the newly built Porsche Centre in Magdeburg. Stephan Schulz | picture alliance via Getty Images Volkswagen is targeting a valuation of 70 billion to 75 billion euros ($70.1 billion to 75.1 billion) for luxury sportscar maker Porsche as part of a … Read more

Why Is the Stock Market Down? It Knows the Worst Is Yet to Come.

Text size NYSE From a certain point onward, there is no turning back. The stock market reached that point this past week. Oh, the market was hopeful, entering the week, that inflation had reached its peak, that the Federal Reserve would stop raising rates soon, that the bottom was in. But Tuesday’s release of August’s … Read more

FedEx to Close Offices, Park Aircraft After Warning of Sales Shortfall

Updated Sept. 15, 2022 5:42 pm ET Listen to article (1 minute) FedEx said its quarterly revenue fell below its expectations and it was closing offices and parking aircraft to offset declining volumes of packages moving around the world. FedEx shares tumbled 13% on the warning, which came after markets were closed Thursday and about … Read more

Biden pushed railways, unions to ‘be creative,’ White House says

President Joe Biden urged railway executives and union leaders to be creative and flexible in finding a compromise to avoid a shutdown that could have disrupted the transport of goods across the U.S., White House Press Secretary Karine Jean-Pierre said. “The president’s message — it was very clear — we must get a deal done,” … Read more

Ferrari unveils Purosangue, a 4-door, V-12-powered sports car

Ferrari Purosangue Source: Ferrari Ferrari on Tuesday revealed its new Purosangue, the 75-year-old sports car maker’s first-ever four-door production vehicle. The Purosangue looks like an SUV, akin to other luxury sports SUVs from brands like Porsche and Maserati. But despite its size, shape and higher stance, the company insists that the Purosangue – which means … Read more