Ford Motor Co. reports $2.4 billion net income in third quarter
DETROIT — Ford Motor Co., fresh with new leadership and touting an upcoming lineup of hot new vehicles, reported a $2.4 billion net income Wednesday for the third quarter of the year, an improvement of $2.0 billion from the same quarter last year.Ford reported that earnings in the quarter before interest and taxes — adjusted EBIT — was $3.6 billion, up from the $1.8 billion reported for the same period in 2019 and $1.7 billion a year earlier. EBIT does not include restructuring and other charges.“We plan to compete like a challenger,” CFO John Lawler said on a media call.From the factory floor...
Detroit Free Press
Ann McFeatters: How Trump delivered on his promises from 2016, and what it signals for a 2nd term
We have never heard a serious answer from Donald Trump about his priorities for a second term except that having first called the White House a “dump,” he’s come to like living there and flying on Air Force One.Republicans, also, refused to put out a platform for the next four years. But, hey, we easily can review how well Trump kept his promises in his first term as president.Trump promised to bring manufacturing jobs back to U.S. shores and started a trade war with China, imposing higher tariffs to bring jobs back. Sadly, there is not a higher number of American-made widgets. The U.S. trade ...
Tribune News Service
Trump administration again touts COVID-19 antigen tests, despite concerns of false results
In the month since the Trump administration got a flood of favorable press for its plan to ship 150 million rapid coronavirus diagnostic tests to states, the tests have proved problematic.That didn’t stop the administration’s publicists from continuing to tout antigen tests on Tuesday, emailing a news release to media across the country about distributing the latest batch of tests.This time, the template press release was customized to name the state, mention the governor, and quantify the allotted number of tests. While the latest pitch didn’t generate the big headlines of September, the rele...
The Philadelphia Inquirer
Toyobo, Indorama Ventures in joint venture for airbag business
BANGKOK, NNA - Thailand’s major polyethylene terephthalate (PET) manufacturer Indorama Ventures Public Co. Ltd. (IVL) has entered into a joint venture with Japan’s fiber producer Toyobo Co. Ltd. to capitalize on the growing automotive airbag market.Its subsidiary, Indorama Polyester Industries Public Co., announced its decision to set up a factory in Thailand with Toyobo to produce airbag yarns in its filing to the Stock Exchange of Thailand on Monday.Both companies are set to hold equal shares in the joint venture company, Toyobo Indorama Advanced Fibers Co. Ltd.The global airbag market is ex...
NNA Business News
Agrarian, Construction, Manufacturing and Extractive Industries Will Develop in Gubadli
By TrendGubadli region, bordering with Armenia, is part of the Kalbajar-Lachin economic region. It has a mountainous relief. Compared to other economic regions, this economic region is rich in mineral resources and has tourism potential. Usually, in regions with mountainous relief with deposits of mineral resources, the potential of the tourism sector is less visible. Despite this, the Kalbajar-Lachin economic region has a unique harmony of mountain deposits and tourism potential. Gubadli region also combines these characteristic features inherent in this region. Like Kalbajar and Zangilan, Gu...
Nation and world news briefs
AstraZeneca cleared by US regulators to resume vaccine trialAstraZeneca Plc, the U.K. drugmaker developing a coronavirus vaccine with the University of Oxford, has been cleared by U.S. regulators to restart a trial halted in the country for more than a month on concerns about a volunteer who became ill, according to a person familiar with the decision.The person asked not to be identified because the information isn’t public.A decision to allow the study to resume would remove a significant impediment for AstraZeneca and Oxford as they try to get their coronavirus shot across the line. They ar...
Tribune News Service
GM unveils all-electric Hummer that costs $112,595
DETROIT — The 2022 GMC Hummer EV has arrived.General Motors Co. virtually unveiled the $112,595 “Edition 1” of the off-roading electric supertruck Tuesday across multiple platforms, including Game One of the World Series and NBC’s “The Voice.”The Hummer, known a decade ago as a gas-guzzling Goliath, has been reborn with a soundless, fully electric system. But its size and stature on the road remain. It’s one of the 20 battery-powered vehicles GM plans to feature by 2023 and it will be built right here in Detroit at the newly named Factory Zero Detroit-Hamtramck Assembly Center starting in fall...
The Detroit News
GM to invest billions in Michigan plants, converts another plant to EV
DETROIT — General Motors said Tuesday it is investing $2 billion in six U.S. assembly plants and will be converting its Spring Hill, Tenn., assembly plant to become the company’s third factory to build electric vehicles.As part of that, GM said it will build the Cadillac Lyriq all-electric SUV at Spring Hill Assembly. GM presently builds the Cadillac XT5, XT6 SUVs and the GMC Acadia SUV at Spring Hill. It also makes a variety of engines used across GM’s lineup.GM said the plant will continue to make the XT5 and XT6 plus the electric Lyriq, which goes on sale first in China and then in the Unit...
Detroit Free Press
Commentary: In the race for a COVID-19 vaccine, how do we balance risk and safety?
The great race for a COVID-19 vaccine has more than 130 medicines in development, with 40 being tested on humans, of which 10 are in large, phase 3 trials. The U.S. Government has invested about $11 billion in Operation Warp Speed, making advance purchases from Moderna, Johnson & Johnson, Pfizer/BioNTech, Sanofi/GlaxoSmithKline, Novavax and AstraZeneca — betting that at least some will be soon approved by regulators as “safe and effective” vaccines.No matter your Twitter feed, “vaccines have been one of the greatest public health tools to prevent disease,” as The New York Times explained in Ja...
Ford warns of fire, loss of control with 2020 Escape, Mustang Shelby, Transit Connect
Ford Motor Co. warned Monday that certain 2019-2020 Ford Transit Connect vans have an engine flaw that could create fire risk while certain 2020 Ford Escape SUVs have tire pressure monitoring flaws that could lead to loss of control.Both vehicles are the subject of recalls, along with the high-performance of the Mustang Shelby GT350 and Mustang Shelby GT500 for its light system.The company said it is unaware of any accident or injury related to these situations.Transit ConnectCertain Transit Connect vehicles with the 2.5L engine have a software calibration issue that fails to keep the engine a...
Detroit Free Press