Business - Genz Flash

Stellantis Charges Forward With Construction Of Second Battery Plant To Fuel 2025 Ram REV And Other Electric Vehicles

13Oct

By James WilliamsNo Comments

Business

Stellantis Charges Forward With Construction Of Second Battery Plant To Fuel 2025 Ram REV And Other Electric Vehicles

"Stellantis Announces Plans for a Second Battery Plant in Kokomo, Indiana" Stellantis is set to embark on the construction of a second battery plant in Kokomo, Indiana, in partnership with Samsung SDI. The joint venture aims to establish a new US StarPlus Energy Gigafactory, bolstering the supply of batteries for electric vehicles such as the 2025 Ram 1500 REV BEV and the 2024 Charger Daytona SRT Electric Muscle Car. This second Stellantis StarPlus Energy Gigafactory represents a substantial investment, exceeding $3.2 billion. It will be located near the existing Kokomo facility, with a combined annual production capacity estimated at 67 gigawatt hours. Production at the second plant is scheduled to commence in 2027, creating 1,400 new jobs. The overall investment across both facili...

Kia Debuts Three Electric Vehicle Models During Global EV Day Event In South Korea

12Oct

By Jack MartinNo Comments

Business

Kia Debuts Three Electric Vehicle Models During Global EV Day Event In South Korea

During its inaugural Global EV Day event held in Korea, Kia made significant strides in its electric vehicle (EV) portfolio by unveiling three exciting models poised to join its global EV lineup. These new additions include the production-ready EV5 SUV, which had been previously introduced as a concept in China, the innovative EV4 sedan, and the compact EV3 SUV. Kia's strategic move towards these new models is part of a grand plan to reach an annual sales target of one million electric vehicles by 2026, further surging to 1.6 million units annually by 2030. The brand has been progressively introducing electric vehicles to major markets, with the Kia EV6 already making waves. The next anticipated release is the flagship SUV, the EV9. Following these flagship models, Kia's recent event s...

10 Car Models Poised For Substantial Price Decreases In October 2023

10Oct

By Jack MartinNo Comments

Business

10 Car Models Poised For Substantial Price Decreases In October 2023

"Changing Tides in the Auto Market: New and Used Car Price Trends for October 2023" Recent data from Cox Automotive, the parent company of Kelley Blue Book, highlights the dynamic shifts in the automotive market. Wholesale used vehicle prices have seen a 1% increase between August and September. However, new car prices have experienced a $60 drop over the past month, settling at an average of $47,397, which is still 3% higher than the same period last year. The UAW strike, despite its initial impact, has yet to influence new car prices significantly. According to Cox Automotive's chief economist, Jonathan Smoke, the strike's effects might become more apparent in October. Automakers prepared for the strike by accumulating a substantial inventory of new cars, the highest since early s...

Ernst And Young Initiates Contact With Lenders In Quest To Discover Prospective Buyer For Metro Bank

9Oct

By Jack MartinNo Comments

Business

Ernst And Young Initiates Contact With Lenders In Quest To Discover Prospective Buyer For Metro Bank

Ernst & Young, the consulting firm, has been enlisted to seek a potential buyer for Metro Bank Holdings Plc, as the challenger bank endeavors to fortify its financial position. Sources familiar with the matter have indicated that the advisor is in discussions with several lenders with the goal of reaching an agreement before the markets open on Monday. These sources, who requested anonymity, cited the Bank of England's vigilance over the situation. Among the lenders approached, JPMorgan Chase & Co. was considered but has opted not to pursue the opportunity, according to one of the sources. It's worth noting that Metro Bank had previously entertained merger discussions with another mid-tier bank, Shawbrook, although these talks did not advance. Nevertheless, Shawbrook maintains ...

Top-Selling AMG In Europe: Mercedes G63, While BMW M Sales Surge By 58%.

7Oct

By Jack MartinNo Comments

Business

Top-Selling AMG In Europe: Mercedes G63, While BMW M Sales Surge By 58%.

In 2023, the automotive industry has witnessed generally positive sales trends, and there's an intriguing revelation with a focus on high-performance luxury vehicles, which have surprisingly shown strong demand, especially in Europe. Among these brands, one stands out prominently – BMW, particularly the BMW M series. Data from new vehicle registrations in Europe indicates that over 19,600 BMW M models found buyers in the first half of the year. This represents an impressive 58 percent increase compared to the same period last year, and the surge in popularity extends beyond European borders. In the United States, BMW M vehicles tallied up 16,400 sales through June, resulting in a grand total of 36,000 high-performance BMWs navigating the roads in these two regions. It's important to no...

Costco’s Online Gold Bar Sales Soar, Constantly Selling Out

5Oct

By James WilliamsNo Comments

Business

Costco’s Online Gold Bar Sales Soar, Constantly Selling Out

One of the United States' largest retailers is revolutionizing the shopping experience by incorporating real gold bars into its extensive inventory, which includes groceries, appliances, and electronics. These gold bars are available exclusively to Costco members, with a limit of two bars per person. Costco is offering the one-ounce PAMP Suisse Lady Fortuna Veriscan and Rand Refinery bars, crafted from 24-karat gold, on its website for just under $2,000. However, these coveted items are in high demand and tend to sell out quickly. During a recent quarterly earnings call, Richard Galanti, Chief Financial Officer of Costco, shared that these gold bars have been incredibly popular. He stated that once they are made available on the website, they are typically sold out within a few hour...

Lightning Strike Prompts Hawaiian Airlines Diversion

4Oct

By James WilliamsNo Comments

Business

Lightning Strike Prompts Hawaiian Airlines Diversion

On a recent Sunday, Hawaiian Airlines Flight 5, scheduled to fly from Las Vegas to Honolulu, experienced a series of unexpected events. The flight initially departed, albeit 90 minutes behind schedule for reasons unknown. However, the delays were only the start of the flight's troubles. After reportedly being struck by lightning, the A330-200 widebody jetliner made a swift return to Las Vegas, touching down just 21 minutes after takeoff, as reported by the flight tracking website Flightaware. Hawaiian Airlines confirmed the lightning strike incident to local Las Vegas news outlets, acknowledging that their flight had indeed been struck by lightning. The flight was carrying 289 passengers and crew members on the trans-Pacific journey. Following the lightning strike, Flight 5 resumed ...

Jim Cramer Applauds The Resilience Of His ‘Magnificent Seven’ Tech Giants Amid Bond Market Surges

3Oct

By James WilliamsNo Comments

Business

Jim Cramer Applauds The Resilience Of His ‘Magnificent Seven’ Tech Giants Amid Bond Market Surges

CNBC's Jim Cramer highlighted a select group of mega-cap tech stocks, which he fondly dubbed the "Magnificent Seven," as the only ones capable of competing effectively with the bond market. These seven tech giants are Apple, Alphabet, Meta, Amazon, Microsoft, Nvidia, and Tesla. In a market environment where most stocks struggle against the gravitational force exerted by rising bond yields, Cramer emphasized that these particular Nasdaq Composite stocks have the resilience to hold their ground. Cramer elaborated on his selection, explaining that these companies possess robust balance sheets and enjoy sustained demand for their products, which sets them apart from the rest of the market. These Magnificent Seven stocks not only have substantial cash reserves but are also generating sub...