Tesla is recalling some articulated lorries, Ford is hitting the brakes on self-driving dreams, TikTok founder meets Walmart boss privately: today’s top stories

gasoline ga

Tesla is calling back again – except this time it’s 35 trucks

  • EV giant Tesla Inc (NASDAQ: TSLA) is recalling thirty-five semi-trailer trucks from 2023, citing parking brake issues.

  • The company said in a filing with the National Highway Traffic Safety Administration that the parking brake may not engage as expected when the driver releases the brakes. This can cause the vehicle to roll away, increasing the risk of an accident.

  • Tesla said it would replace the parking brake valve module in affected vehicles at no cost to the customer.

Ford puts the brakes on self-driving dreams by pulling an NHTSA exemption request

  • Ford Motor Co (NYSE:F) withdrew its petition to the National Highway Traffic Safety Administration requesting exemptions to use a self-driving vehicle.

  • Ford wrote to the National Highway Traffic Safety Administration withdrawing its request for temporary exemptions from the use of a vehicle equipped with an automated driving system. Although dated February 13, NHTSA released the letter Thursday.

  • In July 2021, Ford applied to NHTSA for a two-year exemption from various Federal Motor Vehicle Safety Standards requirements to use its vehicle equipped with Level 4 automated driving system capabilities.

Taipei-based EVA Air orders five more Boeing 787-9 Dreamliners

  • Boeing Co (NYSE: BA) has received another order from EVA Air for five 787-9 Dreamliners. Financial terms were not disclosed.

  • Taipei-based airline EVA Air’s subsequent investment in the 787 will allow the airline to reduce carbon emissions while sustainably expanding its fleet.

  • The 787-9 will offer the five-star airline higher capacity, longer range and 25% better fuel efficiency than previous jets.

US Consumer Watchdog sets rules for small business credit data

  • The US government agency for consumer financial protection, Consumer Financial Protection Agency (CFPB), has finalized a rule for data collection on small business loans.

  • The CFPB said the rule would increase transparency in lending to small businesses, promote economic development and fight unlawful discrimination.

  • The rule requires lenders to collect and report information about the small business loan applications they receive, including geographic and demographic data, lending decisions, and lending pricing.

Richard Branson’s Virgin Orbit is raising nearly $11 million to help pay for layoffs

  • British entrepreneur Richard Branson Virgin Orbit Holdings Inc (NASDAQ: VORB) raised $10.9 million from Virgin Investments Limited on the issuance of a senior secured convertible bond to pay severance payments to laid-off employees.

  • The proceeds would be used to pay severance pay to the 675 employees laid off Thursday.

  • The company laid off 85% of its workforce to cut spending after failing to raise funds. Virgin Orbit estimates the downsizing will result in a total cost of approximately $15 million, of which $8.8 million will be severance payments and employee benefit costs.

Nestlé closes Buitoni pizza factory in France after outbreak problems

  • Nestlé ADR (OTC: NSRGY) announced that it will close its Buitoni pizza factory in France following a drop in demand volume.

  • The company had temporarily suspended Production at the Caudry site on March 2 following an outbreak of E. coli which led to a recall.

  • Nestle said it will start a process to find a permanent recovery solution for the factory.

  • Nestlé France would commit to offering Buitoni Pizza employees internal transfer opportunities within other Nestlé Group entities in France.

Verizon secures $2.4 billion contract to modernize FAA infrastructure

  • Awarded by the US Federal Aviation Administration Verizon Communications Inc (NYSE: VZ) awarded Verizon Business Network Services LLC a contract valued at up to $2.4 billion.

  • The contract will run for 15 years if all options are exercised as the agency looks to modernize its systems.

  • Verizon said it will “build the FAA’s dynamic, highly available and secure enterprise network to support all of the agency’s mission-critical applications throughout the National Airspace System.”

Blackberry shares plummet after Q4 results

  • Blackberry Limited (NYSE:BB) shares fell premarket on Friday after missing Thursday’s top-line consensus for the fourth quarter.

  • BlackBerry reported fourth-quarter revenue of $151.00 million, beating consensus of $156.65 million.

  • Adjusted EPS loss of $(0.02) beat consensus loss of $(0.07).

  • Gross margin decreased 100 basis points due to lower margins in the Cybersecurity and IoT segments.


US Circuit Court of Appeals Rules in Apple’s Favor of VirnetX Patent Infringement Case

  • apple inc (NASDAQ: AAPL) turned the tables in its favor by convincing a U.S. appeals court on Thursday to uphold a patent court’s decision.

  • The US Court of Appeals for the Federal Circuit upheld a decision by the US Patent and Trademark Office invalidating the two patents VirnetX Holding Corp (NYSE: VHC) had accused Apple of violating the law.

  • The two companies have engaged in a 13-year court battle. An East Texas jury awarded VirnetX $502 million in 2020 after ruling in Thursday’s decision that Apple had infringed on virtual private network (VPN) patents at issue.

Boeing plans to ramp up production rates of the 737 MAX sooner

  • Boeing Co (NYSE: BA) is reportedly expecting to ramp up production of its 737 MAX soon beyond the current rate of 31 jets per month.

  • The boss of Boeing Stan Deal said the aircraft manufacturer is also in the process of submitting final submissions for Federal Aviation Administration certification for its new 737 MAX 7 model.

  • “We still have a handful — less than a handful — left to go to the FAA,” Stan Deal said.

New York Post

Check out more earnings on TSLA

TikTok founder meets Walmart boss privately, fueling speculation over potential deal to avert ban

  • Last week while the US struck tick tock CEO Shou Zi Chew about its ties to China, ByteDance Founder Zhang Yiming quietly flew to Arkansas to meet with the CEO of Walmart Inc (NYSE: WMT).

  • However, the topic of discussion between Yimimg and Walmart CEO Doug McMillon stays secret.

  • Two years ago, Walmart had been in talks about a partnership Oracle Corp (NYSE:ORCL) under pressure from the Trump administration to buy TikTok’s U.S. operations.

Wall Street Journal

Ford Motor increases price of F-150 Lightning truck

  • Ford Motor Co (NYSE: F) has again raised the entry price of its F-150 Lightning electric truck.

  • The move comes after the carmaker temporarily halted production and shipping the F-150 after a battery problem.

  • After the price increase, the F-150 ow will cost approximately $59,974, a jump from the starting price of $40,000 when sales began in April 2022.


Netflix is ​​turning the film group on its head – focusing on quality over quantity

  • Netflix Inc (NASDAQ: NFLX) revamps its film group in the form of a consolidation. The streaming giant also wants to focus on making fewer but better films in the future.

  • Netflix is ​​expected to merge units that produce small and medium-sized films, which will result in some layoffs and Netflix’s departure Lisa Nishimura And Ian Bricke — two experienced executives.

  • Nishimura is currently in charge of documentaries and smaller budget films, while Bricke is the vice president of the film group and works with filmmakers such as Nicole Holofcenter and the Duplass brothers.

Photo via Wikimedia Commons

Don’t miss real-time alerts on your stocks – get involved Gasoline Pro for free! Try the tool that will help you invest smarter, faster and better.

This article Tesla is recalling some articulated lorries, Ford is hitting the brakes on self-driving dreams, TikTok founder meets Walmart boss privately: today’s top stories originally appeared on Benzinga.com


© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source : finance.yahoo.com

Leave a Reply

Your email address will not be published. Required fields are marked *