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...Another heavily-traded company that until recently was a penny stock is Mullen Automotive....
...The people with knowledge of Tesla’s plans said it would send a team from the US by late April to study sites for the plant, focusing on states with existing automotive hubs, including Maharashtra and Gujarat...
...That compares with Macy’s market valuation of $5.3bn. Arkhouse has not revealed its plans for Macy’s. Past activists wanted to sell real estate and lease it back....
...This story was corrected to reflect that Group 1 Automotive has 55 sites in the UK, not 51 as indicated in a previous version....
...The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...He argues that a $21-per-share price overvalues Macy’s properties....
...We live in a transactional world, as Macy’s knows....
...Look at the company’s spending decisions and it seems as if everything is targeted towards addressing the 13 per cent drop in automotive revenues....
Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
...Excluding the effects of regulatory credits, the gross margin from its automotive unit — a closely watched measure of its core operations — fell to 16.4 per cent for the quarter, down from 19 per cent a...
...In the last quarter, US chip designer Nvidia revealed that revenue from its automotive business fell 4 per cent year over year. In some regards, Apple had the right idea....
...Ansys, which has headquarters in Pennsylvania and has its origins in structural analysis tools, makes engineering simulation software used in industries from automotive and construction to healthcare and...
...Meanwhile, Macy’s, the US department store chain, reported strong results on Thursday. Its shares closed up 5.7 per cent in New York....
...The automotive industry nonetheless expects EVs to become dominant in time as governments push to decarbonise road transport....
...Daniel Kollar, an automotive expert at consultancy Intralink, said Tesla’s China performance had remained strong but the company faced challenges from local competition, a renaissance of hybrid cars and...
...Like BJ’s, Macy’s serves a wide range of households, but it noted that even high-end products were seeing weaker demand, too: “There’s no doubt that there’s a normalisation happening in the luxury sector...
...The industry-leading gross profit margin on Tesla’s automotive operations briefly topped 30 per cent in 2021....
...The acquisition by Berkshire, whose related interests include car insurer Geico and dealership Berkshire Hathaway Automotive, was regarded as a vote of confidence in the US economy and more particularly...
...Even digital sales, one of the few bright spots for Macy’s, fell as a percentage of net sales. The outlook for 2023 is not much better....
...Pendragon, one of the UK’s largest automotive retailers, is to sell all of its car dealerships for £280mn and focus on software, ending a tumultuous period in which the company’s attempts to sell itself...
...Excluding the effects of regulatory credits, the gross margin from Tesla’s automotive unit — a closely watched measure of its core operations — increased to 17.2 per cent for the quarter, slightly ahead...
Also in today’s newsletter, extreme weather spells trouble for Asian textile producers
...By contrast, many other businesses inside Icahn’s empire, which span automotive services, real estate and even sausage packaging, have struggled to generate meaningful earnings....
...A record 313,000 electric vehicles were sold in the US in the third quarter, according to data group Cox Automotive....
...Renesas, a key supplier of chips to the automotive industry, has been on a deal spree as it looks to diversify, which included adding the Apple supplier Dialog to its stable....
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