Archive for the ‘Financials’ Category

Daimler Cuts Earnings Estimates as Outlook Gets Tougher

Mercedes-Benz Cars saw earnings slip, driving new forecast.

by on Oct.19, 2018

Sales of the Mercedes-Benz GLE are off this year as are other models, causing Daimler to revise its earnings forecast downward.

Daimler AG trimmed its earnings outlook for 2018, blaming the rising cost of fines and litigation over the emissions from the company’s diesel engines and a sharp reduction in the earnings by Mercedes-Benz Cars for the expected decline.

“The main factor is an increase in expected expenses in connection with ongoing governmental proceedings and measures in various regions with regard to Mercedes-Benz diesel vehicles,” said as the company revised its financial guidance.

Business News!

“Furthermore, against the backdrop of a recent ruling by the European Court of Justice, provisions have been recognized for the potential need to take action on certain vehicles still operating with the previously used refrigerant R134a,” the company said. (more…)

Uber’s Estimated Valuation in IPO Pegged at $120 Billion

Lyft is looking to doing an offering as well next spring.

by on Oct.18, 2018

Uber CEO Dara Khosrowshahi has been making substantive changes to the company since his arrival.

Uber could raise as much as much as $120 billion, dwarfing the market capitalization of General Motors, Ford and Fiat Chrysler, when it launches an initial public offering next summer, according to a report in the Wall Street Journal.

Uber is already in discussions with bankers about an initial public offering in early 2019, the Journal reported. At the same time, Uber’s principal Lyft raised $15 billion during a round of fund raising and has indicated it is preparing go public next spring, raising the prospect the two ride-sharing companies could collide in the race for cash.

News You Can Trust!

Uber’s potential valuation could be greater than the combined current valuation of the U.S. automakers, the Journal reported. The comparison has been the subject of some fierce debate with some critics suggesting that for “game changing” technology companies like Uber it is not a relevant. (more…)

German Automakers Face 50:50 Chance of Collapse, VW CEO Warns

Herbert Diess warns battery-cars could cost jobs – and may not be as clean as promised.

by on Oct.16, 2018

VW boss Herbert Diess, left,helps unveil the VW BUDD-e and eGolf Touch electric concepts.

When the U.S. economy collapsed a decade ago two of the three Detroit-based automakers plunged into bankruptcy, surviving only with the help of a massive federal bailout – and that’s the fate that could be facing the German auto industry, as well, the CEO of Volkswagen warned today.

The country’s powerful auto industry faces a 50:50 chance of suffering the same fate that nearly destroyed Detroit’s Big Three manufacturers, Herbert Diess said during a supplier conference in Wolkfsburg VW’s home town.

Business News!

“From today’s point of view the chances are perhaps 50-50 that the German auto industry will still belong among the global elite in 10 years’ time,” said Diess, who was appointed VW’s chief executive earlier this year, following a senior management shake-up.

(more…)

Bill Ford Leads Exodus from Saudi Economic Event in Response to Alleged Murder of Journalist

Global business, political and media leaders demand answers in disappearance.

by on Oct.15, 2018

Ford Chairman Bill Ford is shown during a celebration of the 100th anniversary of the carmaker's River Rouge manufacturing complex.

Bill Ford, the chairman of Ford Motor Co., is leading an exodus of high-profile business leaders who have decided to pull out for an upcoming investor conference sponsored by Saudi Arabia.

The move comes amidst growing concerns about the fate of Saudi journalist Jamal Khashoggi, who reportedly entered the Saudi consultate in Istanbul, Turkey last week but failed to leave it, raising concerns he may have been murdered by hit men dispatched by Saudi leaders.

Global News!

Khashoggi was a regular contributor to a number of publications, including the Washington Post, and had been granted U.S residency. Reports have surfaced over the last several days indicating American intelligence officials may have had advance warning that Khashoggi faced threats from the Saudis. Turkish officials, meanwhile, claim to have evidence the journalist was murdered in the embassy, his remains subsequently being smuggled out.

(more…)

Update: Musk Calls “Incorrect” Reports Murdoch Will Replace Him as Tesla CEO

Hunt continues with clock ticking under SEC settlement.

by on Oct.11, 2018

Elon Musk appears to have ruled out reports suggesting James Murdoch will replace him as Tesla Chairman.

Fox CEO and Tesla board member James Murdoch is apparently out as a prospect to replace Elon Musk as the battery-carmaker’s chairman.

Musk, who must relinquish the post as part of a settlement with the SEC, issued a Wednesday afternoon tweet declaring “incorrect” a report in the Financial Times that cited two supposed inside sources naming Murdoch as the frontrunner in the search. The FT story came days after several other media outlets also pointed to Murdoch as the likely successor.

Dig Deeper!

The 45-year-old Murdoch is a friend of the Tesla founder and boss and has been on the company’s board since last year. He was seen as a particularly suitable replacement for Musk as he will soon relinquish his role as CEO of Twenty-First Century Fox, the media conglomerate founded by his father Rupert Murdoch, after it sells off most of its assets to Disney.

(more…)

Faraday Fritters Away Funding, Future Fading Fast — Again

Company not paying vendors while fighting with investor.

by on Oct.08, 2018

More than 300 Faraday workers gathered at the plant last weekend to help clean it up.

Less than a year after it was rumored to be out of money, budding electric vehicle maker Faraday Future appears to be out of money again — even after getting an $800 million infusion from a Chinese conglomerate.

According to a filing with Hong Kong Stock Exchange, the healthcare division of Chinese real estate group Evergrande is accusing Faraday Future founder and CEO Jia Yueting of trying to back out of the deal the two sides made in January.

News Now!

Evergrande officials claim that Jia blew through the $800 million and wanted another $700 million, and say they will take “all necessary actions” to protect itself and its shareholders. Conversely, Jia claims the company agreed to make two payments and after making the first, is trying to get out of the second, a $700 million payment due in 2019. (more…)

Ford Redesigning Company Structure, Salaried Job Cuts Coming in ’19

Number of white collar jobs to be shed unknown right now.

by on Oct.05, 2018

Ford CEO Jim Hackett has talked about a turnaround at the automaker and now it looks like it's happening.

Ford Motor Co. CEO Jim Hackett has talked about making the automaker a more “fit” company going forward, and now it’s clear what that means: salaried job cuts.

The automaker is “redesigning” its white collar workforce to be leaner, have few layers and offer the remaining employees more power to make decisions, and implement those decisions more quickly.

The Last Word!

Currently, Ford employs 70,000 salaried workers, among its more than 285,000 overall employees worldwide. Of that total, about 85,000 work in the U.S. The number of jobs that will be cut is unknown at this point as the plan is still be formulated. (more…)

Toyota Recalls 2.4 Million Priuses Worldwide; 807K in US

Second time for this repair.

by on Oct.05, 2018

The Toyota Prius has been recalled due to a problem with stalling.

Toyota is recalling 2.4 million Prius hybrids worldwide – including 807,000 in the U.S. – that could stall while driving.

The Japanese automaker said the action covers certain 2010 to 2014 Prius hybrids and certain 2012 to 2014 Prius V hybrids. The problem stems from the vehicle failing to move into “fail-safe driving mode” when the car’s hybrid system “faults.”

News Now!

While it issue happens rarely, “the vehicle could lose power and stall. While power steering and braking would remain operational, a vehicle stall while driving at higher speeds could increase the risk of a crash.” (more…)

Audi CEO Rupert Stadler Now Out of Job and Still in Jail

Ousted exec “wishes to concentrate on his defense.”

by on Oct.03, 2018

Audi's Board of Management Chairman Rupert Stadler has been fired and remains in jail on charges related to dieselgate.

During any other year, Audi CEO Rupert Stadler would have been a notable presence at the Paris Auto Show where the brand formally introduced to the public this week its new e-tron battery-electric vehicle. But Stadler was a no-show because he remains in a German jail where he has been locked up since June in connection with VW’s diesel emissions scandal.

And even if he eventually beats the charges he now faces, Stadler will have to go looking for a new job. About the same time Audi was revealing the e-tron in Paris, the Volkswagen Group announced that it was terminating Stadler, effective immediately.

Subscribe Now!

In a statement, the company said they had reached “an agreement with Rupert Stadler on the termination,” adding that “Due to his ongoing pretrial detention, he is unable to fulfill his duties as a member of the board of management and wishes to concentrate on his defense.” (more…)

Future of Alliance with Nissan/Renault the Big Question as Zetsche Prepares to End Role as Daimler CEO

Zetche and Nissan/Renault’s Ghosn insist there is more to come during Paris new conference.

by on Oct.03, 2018

Zetsche and Ghosn first met when the German exec was working at Freightliner and the Brazilian-born Ghosn worked for Michelin.

Since launching the first in a broad series of joint ventures nine years ago, Daimler AG and the Nissan/Renault/Mitsubishi Alliance have generated what they claim to be billions of dollars in “synergies” that have allowed them to expand their product lines and grow into new markets.

But in recent months, the future of that partnership has come under question. The last major new project was announced three years ago. And now, with Daimler Chief Executive Dieter Zetsche planning to relinquish the CEO title next year, that has raised new questions about whether his successor, Ola Kallenius, would keep the alliance going.

Subscribe Now!

“Without the chemistry between us, maybe this wouldn’t have happened,” said Zetsche, during a joint news conference with Nissan/Renault/Mitsubishi Alliance chief Carlos Ghosn. But considering the results the partnership has generated, “I don’t see from my perspective why the momentum in this relationship should change.”

(more…)

http://www.best-cooler.reviews

www.avtopoliv-gazonov.kiev.ua

http://swiss-apo.com