Alcoa stock soars to 52-week high, hits $46.57 amid market rallyGeorgia's rights ombudsman on Tuesday accused police of torturing pro-European Union protesters rallying for six consecutive days against the government's decision to shelve EU accession talks amid a post-election crisis. The country of some 3.7 million has been rocked by demonstrations since the ruling Georgian Dream party announced last week it would halt EU accession talks. Police on Tuesday evening used water cannon and tear gas on the sixth night of pro-EU protests in Tbilisi after the prime minister threatened demonstrators with reprisals amid a deepening crisis in the Black Sea nation. Georgia's Prime Minister Irakli Kobakhidze has refused to back down and threatened Tuesday to punish political opponents, accusing them of being behind violence at mass protests. Protesters gathered outside parliament for a sixth straight night but the crowd appeared slightly smaller than on recent nights, an AFP journalist saw. Draped in EU and Georgian flags, protesters booed riot police officers and threw fireworks. Police responded by directing hoses at the protesters, with some dancing in the jets and others sheltering under umbrellas. The police ordered demonstrators to leave through loud hailers and used water cannon to push the crowd away from the parliament. Then they deployed tear gas against the crowd in a nearby street, causing protesters to cough, with some using saline solution to wash out their eyes. Police roughly detained some demonstrators, Georgian independent television showed. Ombudsman Levan Ioseliani said in a statement that most injuries sustained by detained protesters "are concentrated on the face, eyes, and head", adding that "the location, nature, and severity of these injuries strongly suggest that police are using violence against citizens as a punitive measure", which "constitutes an act of torture." Tensions were already high after October parliamentary elections that saw Georgian Dream return to power amid accusations that it rigged the vote. But Kobakhidze's decision that Georgia would not hold EU membership talks until 2028 triggered uproar, although he insisted the country is still heading towards membership. The mostly young protesters accuse Georgian Dream of acting on Russian orders and fear the ex-Soviet country will end up back under Russian influence. Demonstrators projected a message Tuesday that read "thank you for not being tired" onto the parliament building, an AFP reporter saw. During the latest wave of protests, 293 people have been detained, the interior ministry said Tuesday evening, while 143 police have been injured. The health ministry said that on Monday evening 23 protesters were injured. "We want freedom and we do not want to find ourselves in Russia," 21-year-old protester Nika Maghradze told AFP. Demonstrators accuse the government of betraying Georgia's bid for EU membership, which is enshrined in its constitution and supported by around 80 percent of the population. Nugo Chigvinadze, 41, who works in logistics, told AFP at Tuesday's protest that he did not believe the prime minister's claim that the country is still aiming for EU membership. "Whatever our government is saying is a lie. No one believed it. No one," he said. "They are not intending to enter the European Union." - Court challenge rejected - Pro-EU President Salome Zurabishvili -- at loggerheads with the government -- has backed the protest and demanded a re-run of the disputed parliamentary vote. But Tbilisi's top court on Tuesday rejected a lawsuit filed by Zurabishvili and opposition parties to overturn the election result. That announcement came shortly after Kobakhidze -- who has ruled out talks with the opposition -- vowed to punish his opponents. "Opposition politicians who have orchestrated the violence in recent days while hiding in their offices will not escape responsibility," he told a press conference. International criticism of Georgia's handling of the protests has grown, with several Western countries saying Tbilisi had used excessive force. - Kremlin-style language - Kobakhidze threatened to punish civil servants who join the protests, after several ambassadors and a deputy foreign minister resigned. "We are closely monitoring everyone's actions, and they will not go without a response," he said. Using Kremlin-style language, Kobakhidze alleged the protest movement was "funded from abroad". He also accused non-government groups -- attacked in a repressive pre-election campaign by authorities -- of being behind the protests. At Tuesday's demonstration, Tsotne, 28, who works in IT, defied the threats of reprisals, saying: "It's a peaceful protest, of course but I guess as an individual, I'm ready to defend my country here." Georgia this year adopted Russian-style legislation designed to restrict the activity of NGOs as well measures that the EU says curb LGBTQ rights. The laws prompted the United States to slap sanctions on Georgian officials. But Kobakhidze said his government hoped that the "US attitudes towards us will change after January 20" -- when Donald Trump takes office. Meanwhile, NATO chief Mark Rutte on Tuesday slammed the situation as "deeply concerning", condemning "unequivocally" the reports of violence. led-jc-am-im/giv
Alcoa stock soars to 52-week high, hits $46.57 amid market rallyChipotle is raising its U.S. prices to offset inflation and to compensate for a promise to increase portion sizes. Chipotle’s chief corporate affairs officer, Laurie Schalow, confirmed Friday that the Mexican restaurant chain was implementing a 2% price increase nationally. Schalow said it’s the first time the California-based company has raised its prices in more than a year. Chipotle revealed the price increase after an analyst report released earlier this week by investment bank Truist Securities noted a 2% price increase at approximately 20% of the chain’s 3,500 U.S. stores. Truist, which raised its price target for Chipotle’s shares, also reported that customer traffic at the chain’s restaurants accelerated in November. Chipotle said in October that its food, beverage and packaging costs all increased in the third quarter. It cited avocados as an example. Avocado shipments from Mexico to the U.S. were briefly suspended in June after two U.S. Department of Agriculture employees were assaulted and temporarily held by assailants in the Mexican state of Michoacan. Chipotle also cited the cost of ensuring it was providing “consistent and generous portions” to its customers. Former Chairman and CEO Brian Niccol said in July that Chipotle was retraining workers at approximately 10% of Chipotle’s stores after customers complained on social media that they were getting smaller portions. Niccol left Chipotle in September to become the chairman and CEO of Starbucks, which has said it won’t raise prices through September 2025. Restaurant price inflation has aggravated U.S. consumers. The price of food eaten away from home rose 30% between October 2019 and October 2024, according to government figures. The price of food eaten at home rose 27% in that same period. Earlier this year, McDonald’s said it was seeing more customers eat at home instead of getting fast food because of price increases. The company responded with a $5 meal deal and other discounts.
NEW YORK , Nov. 25, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The healthcare logistics market in canada size is estimated to grow by USD 2.34 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.15% during the forecast period. Legislative and regulatory changes supporting pharma growth is driving market growth, with a trend towards advent of pharma 4.0 and logistics 4.0. However, shortage of transportation drivers resulting in higher lead time poses a challenge.Key market players include Air Canada, AmerisourceBergen Corp., Andlauer Healthcare Group Inc., C H Robinson Worldwide Inc., Canada Post Corp., Canadian Healthcare Logistics, Cardinal Health, CEVA Logistics S A, DB Schenker, Deutsche Post AG, FedEx Corp., i2i fulfillment, Kuehne Nagel Management AG, Purolator Inc., Rogue Transportation Services Inc., Ryder System Inc., Skelton Truck Lines Inc., TFI International Inc., United Parcel Service Inc., and Williams Pharmalogistics. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Market Driver The Canadian healthcare logistics market is experiencing significant trends in patient epidemiology, storage, procurement, and coordination of healthcare products. The aging population and personalized medicine require increased availability and quality of pharmaceutical products, medical devices, and medical equipment. The market is witnessing in e-commerce, international commerce, and outsourcing operational logistics. Digitalization and digital transformation are crucial for efficient inventory management, reducing costs, and ensuring safety. The warehousing segment is a key investment pocket, with 3PL services offering cost savings through overhead operating costs. Pharmaceutical products, medical devices, and medical equipment categories are major drivers, with expensive healthcare costs leading to increased demand for branded drugs, generic drugs, and new technologies. Raw materials and production facilities are essential for meeting demand, while healthcare facilities and pharmacies rely on just-in-time resupplies of critical medical items like oxygen, platelets, and blood. Healthcare transportation modes include trucks, trains, boats, airplanes, and temperature-controlled trucks, with time-bound deliveries and drones used for critical medical items. The second wave of the pandemic has highlighted the importance of healthcare disparities and the need for cross-border commerce and trade flow to address these issues. The market is characterized by mutual dependence among communities and cultures, with a focus on new technologies and cross-border commerce to improve access to healthcare. The healthcare industry in Canada is embracing Industry 4.0, integrating advanced technologies to revolutionize logistics and patient care. Technologies such as 3D printing, additive manufacturing, the industrial Internet of Things (IIoT), artificial intelligence (AI), and big data analytics are transforming healthcare facilities. These innovations enable real-time monitoring of patients through sensors and IoT, improving treatment efficiency and accuracy. Additionally, AI and machine learning enhance supply chain management, ensuring timely delivery of medical equipment and supplies. The adoption of Industry 4.0 technologies in healthcare logistics contributes to better patient outcomes and operational excellence. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges The Canadian healthcare logistics market faces several challenges in patient epidemiology, storage, procurement, coordination, and inventory management of healthcare products, including pharmaceuticals, medical devices, and medical equipment. The aging population and personalized medicine trends increase the demand for branded drugs, health trackers, and generic drugs. Pharmacies and healthcare facilities grapple with expensive healthcare costs and the need for just-in-time resupplies of critical medical items like oxygen, platelets, and blood for nephrological conditions. Logistics involves warehousing, transportation, and order fulfillment, with temperature-controlled trucks and cars essential for pharmaceutical products. The e-commerce sector's growth, international commerce, and digitalization require digital transformation, freight forwarding, and outsourcing operational logistics. New technologies, raw materials production, and healthcare system complexities add to the challenges. The second wave of the pandemic highlights the importance of time-bound deliveries, with drones and temperature-controlled transportation emerging as solutions. The warehousing segment and 3PL services help manage overhead operating costs, while the availability, quality, safety, and costs of healthcare products remain crucial. Healthcare disparities necessitate investment pockets in improving healthcare logistics infrastructure and addressing cross-border commerce complexities. The mutual dependence of communities and cultures necessitates efficient and effective healthcare logistics solutions. The healthcare logistics market in Canada relies heavily on third-party logistics providers for the transportation of medical devices and pharmaceuticals, particularly to remote rural areas. However, the trucking industry is facing a significant shortage of skilled truck drivers, which is projected to worsen, with an estimated 20,000 vacant positions in 2021 and expectations of this number doubling by 2023. This driver shortage could lead to supply chain disruptions in the pharmaceuticals sector, where timely delivery is crucial for medical assistance and potentially saving lives. The shortage has also hindered planned expansions by trucking operators, adding pressure to already strained supply chains. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This healthcare logistics market in Canada report extensively covers market segmentation by 1.1 Non-cold chain 1.2 Cold chain 2.1 Transportation 2.2 Warehousing 3.1 Pharmaceutical products 3.2 Medical devices 4.1 North America 1.1 Non-cold chain- The non-cold chain segment dominates the healthcare logistics market in Canada , accounting for the largest market share in 2023. This segment primarily caters to the transportation and warehousing of medical devices and generic pharmaceutical products. The pharmaceutical industry is a significant contributor to this segment, supplying non-specialized logistics services directly to hospitals, clinics, retail drugstore chains, and medical supplies wholesalers. The growing demand for pharmaceutical products in Canada , coupled with the expanding healthcare infrastructure and the cost-effectiveness of non-cold chain logistics, are key factors driving the growth of this segment and the healthcare logistics market in Canada during the forecast period. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The Healthcare Logistics Market in Canada is a critical sector that ensures the timely and efficient delivery of essential healthcare products to various healthcare facilities and patients. Patient epidemiology plays a significant role in determining the demand for healthcare products and logistics services. The market encompasses storage solutions for healthcare products, international commerce, e-commerce, and online purchase platforms. Outsourcing operational logistics, including delivery, freight forwarding, packaging, and order fulfillment, is common to streamline processes and reduce costs. The healthcare system relies on various modes of transportation, such as trucks, trains, boats, airplanes, temperature-controlled trucks, cars, and even second wave deliveries, to transport healthcare products. Mode of transportation selection depends on factors like product sensitivity, delivery timelines, and cost-effectiveness. Temperature-controlled trucks are increasingly popular for transporting pharmaceuticals and biological samples. The logistics market in Canada continues to evolve, adapting to changing consumer preferences and technological advancements. Market Research Overview The Healthcare Logistics Market in Canada is a critical sector that ensures the timely and efficient delivery of healthcare products and services to patients. Patient epidemiology plays a significant role in determining the demand for various healthcare products, including Pharmaceutical Products, Medical Devices, and Medical Equipment. The storage, coordination, procurement, and inventory management of these items are essential for maintaining their availability, quality, and safety. The healthcare logistics market in Canada faces challenges such as costs, waste, congestion, and international commerce. The e-commerce sector and digitalization are transforming the industry, with increased outsourcing of operational logistics, delivery, freight forwarding, and order fulfillment. The aging population, personalized medicine, and new technologies are driving the demand for branded drugs, generic drugs, and health trackers. The healthcare logistics market in Canada is mutually dependent on various communities and cultures, with cross-border commerce and trade flow playing a crucial role. The warehousing segment, including 3PL services, is essential for managing overhead operating costs. The production of raw materials in factories and medical facilities requires efficient healthcare transportation using various modes, including temperature-controlled trucks, cars, trains, boats, and airplanes. The second wave of the pandemic has highlighted the importance of time-bound deliveries for critical medical items such as oxygen, platelets, blood, and kidney-related products for nephrological conditions. Healthcare disparities and investment pockets are areas of focus for improving access to affordable healthcare and reducing healthcare costs. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Type Non-cold Chain Cold Chain Service Transportation Warehousing Product Pharmaceutical Products Medical Devices Geography North America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ SOURCE Technavio
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Arne Slot celebrated Liverpool's against by saying the Spanish giants had become a "pain in the a--" for the club after ending a 15-year winless run against the reigning European champions. Second-half goals from and -- and both failed to score from the penalty spot in the second half -- sealed a the win for that maintained their 100% winning start to the Champions League and moved Slot's side two points clear of second-placed . With Liverpool failing to beat Madrid in their last six meetings, including Champions League finals in 2018 and 2022, Slot said it was important to finally beat the 15-time Champions League winners. "You know how special it is to play against a team that has won the Champions League so many times," Slot said. "They were a pain in the a-- for Liverpool for many years too. It is a big week and it is pleasing to see. "I think it is always good to win a game and especially a big game like this, you know you face so many quality players. "But this is such a strange and different set up in the Champions League and it is difficult to judge how important these wins are. "If we meet them [Madrid] in the last 16 and then we are able to beat them it would be a bigger statement." Despite now having a five-point cushion in the top eight, which will guarantee a place in the round of 16, Slot said it is too soon to know whether Liverpool have done enough to seal qualification. "I didn't have schedule in terms of amount of points I wanted," he said. "You want to implement the playing style as soon as possible. That is not difficult because it wasn't that different to Jürgen's [Klopp, his predecessor]. It is great to see not only the starters but the players coming on are doing as we expect. "If before the season I had counted points for this point in the season I wouldn't have done as much as we have now." Liverpool face in a crucial clash at Anfield on Sunday with Slot saying it is "too soon" to assess the extent of injuries to and . And the Liverpool manager said he will be backed by his family for the City clash after a visit from the Netherlands following his summer arrival from Feyenoord. "They took a few days off school to be here," Slot said. "They will here for Man City but it will not influence the game! "To have family around, it is always a good thing, because you don't have to be focused for 24 hours ... 18 hours maybe!"
LOUISIANA TECH 65, RICHMOND 62DETROIT — The auto industry has an addiction. It’s a “capital junkie” that’s been on a yearslong binge of unprecedented spending on all-electric and autonomous vehicles. And now, it’s waking up from the bender and entering rehab. Automakers from Detroit to Japan and Germany are attempting to lower costs and reduce expenses amid economic concerns, billions of dollars wasted on self-driving vehicles and a prolonged, if not uncertain, return on investment in EVs amid slower-than-expected adoption. Those issues come in addition to weakening consumer demand, higher commodity costs, and some Wall Street analysts sounding the alarm about global automotive sales and profits peaking, as China’s industry continues to expand. General Motors and Ford Motor are cutting billions in fixed costs, including laying off thousands of workers, while other automakers such as Nissan Motor , Volkswagen Group and Chrysler parent Stellantis are taking even more drastic measures to reduce headcounts and trim spending. “Western [automakers] are increasingly focusing on capital efficiency, meaning likely lower spending, more collaboration, and restructured EV portfolios to prioritize profits,” Morgan Stanley analyst Adam Jonas said in a September investor note. The automotive industry is a global web of companies producing tens of thousands of parts to assemble a new vehicle. It requires significant capital investment every time an automaker launches a new product or updates current models, causing a spending ripple effect throughout the global supply chain. But in recent years, automakers have put such investments in overdrive with self-driving and electric vehicles. Companies invested tens of billions of dollars into the technologies, most with little to no short- to midterm returns on their investments. Research and development costs, as well as capital spending for the top 25 automotive companies, have increased 33% from roughly $200 billion in 2015 to $266 billion in 2023, according to auto consulting firm AlixPartners. Such costs for GM increased about 62% from 2015 to 2023, to $20.6 billion (excluding sold European operations), despite a 38% drop in global sales during that time. That compares with other increases during that timeframe of 42% for Volkswagen; 37% for Toyota Motor; 27% for Fiat Chrysler’s successor Stellantis; and 18% for Ford. EV startups Rivian Automotive and Lucid Group have burned through $16 billion and $8.8 billion, respectively, in free cash flow since 2022. Both companies are attempting to ramp up vehicle production and narrow their losses. It’s not the first time the auto industry has blown through money to then attempt quickly to cut costs. These kinds of periods happen in cyclical industries such as autos, but could the spending have potentially been avoided — or at least alleviated — this time around? Capital junkie The latest cost-cutting cycle comes nearly a decade after an infamous Wall Street presentation by late-Fiat Chrysler CEO Sergio Marchionne called “Confessions of a Capital Junkie.” The April 2015 report highlighted the industry’s massive capital spending on overlapping or niche products that Marchionne was convinced could be solved through consolidation and shared capital spending. The report, made by Marchionne amid failed merger attempts with Fiat Chrysler that included GM, has reemerged as automakers cut costs and announce tie-ups between companies such as Volkswagen and Rivian Automotive as well as GM and Hyundai Motor to share costs. “We believe the concepts within this deck [are] highly insightful and as relevant today as ever,” Jonas said in a November 2023 investor note invoking Marchionne’s junkie manifesto, which he has continued to reference. 'The Sergio Quotient' Using a measurement called “The Sergio Quotient,” Jonas points out that the average S&P 500 company spends its market cap in capex plus research and development in about 50 years. GM and Ford spend their market cap in 1.9 and 2.6 years, respectively. Only Volkswagen, at 1.8 years, was lower than GM among traditional automakers. Toyota was the best suited, at 14.4 years. As of September, Ford and GM ranked 402 and 403 out of 406 nonfinancial companies in the S&P 500 regarding their capital spend compared with their market cap. Former Ford executive Joe Hinrichs brought up Marchionne’s 2015 manifesto during an automotive conference this summer, condemning the industry for its capital waste. “The auto industry is famous for destroying capital. That’s a bad thing,” said Hinrichs, now CEO of railroad company CSX . “If you waste billions of dollars on autonomous vehicles or billions of dollars on electrification, you should be held accountable. That’s shareholder money.” Most capital spending by automakers isn’t wasted, but the industry isn’t as efficient as other sectors, with minimal return on invested capital. The ROIC of traditional, mainstream automakers is roughly seven or less, while tech companies such as Google parent Alphabet are at roughly 22, according to FactSet. “We’ve seen major CapEx spend with extended ROIs, given the slowdown ... and low utilization in manufacturing plants,” said Rebecca Evans, a principal at management consulting firm Roland Berger . “We have been looking extensively at cost.” In particular, automakers have not seen ROIC on autonomous vehicles and EVs. GM continues to invest in its embattled autonomous vehicle unit Cruise despite already spending more than $10 billion on it since acquiring the company in 2016. Ford also has wasted billions of dollars on warranty and recall costs as well as strategy shifts. It recently canceled production of a three-row electric SUV after significant development cost the automaker roughly $1.9 billion in expenses and cash expenditures. That included $400 million for the write-down of certain product-specific manufacturing assets. Rehab After years of spending, Nissan, Volkswagen and Stellantis are conducting massive business restructurings that include layoffs, production cuts and other cost-saving measures. Others such as Ford, GM, and EV startups Lucid and Rivian are attempting to lower costs but their efforts are not as severe as the others. “Have we got to cut costs with every car we’re making? Absolutely,” Lucid CEO Peter Rawlinson told CNBC in October, citing the company’s cost-cutting task force. “We’re working assiduously on that.” Volkswagen is in the midst of a massive cost-cutting program that uncharacteristically involves layoffs and potential plans to shutter plants in its home country of Germany. VW Chairman and CEO Oliver Blume said in an interview published earlier this month that such actions are needed to remedy years of ongoing problems at the German carmaker, which reportedly expects to spend 900 million euros ($975.06 million) to execute the turnaround. “The weak market demand in Europe and significantly lower earnings from China reveal decades of structural problems at VW,” Blume told German paper Bild am Sonntag, according to Reuters . The rise of Chinese automakers has been eating away at the profits of traditional automakers such as VW, GM and others that were once dominant players in China — the world’s largest car market that has quickly moved from being a consumer of vehicles to exporter. Nissan, Honda and BMW, among others, also blamed declines in China for missing earnings expectations or restructuring needs. GM, which has raked in billions from China, is restructuring operations there, including attempting to renegotiate with its major Chinese partner, SAIC. While losing ground in China, GM has been among the most aggressive in spending on EVs and self-driving vehicles. But, to its credit, remains highly profitable and had roughly $27 billion of free cash flow at the end of the third quarter. It remains one of the standouts in balancing investment and cost-cutting efforts, while remaining profitable. GM CFO Paul Jacobson on Wednesday reconfirmed plans for the automaker to level capex to around $11 billion going forward. “What we’ve established over the last couple of years, I think, is a pretty disciplined track record of capital expenditures,” Jacobson said during a Barclays conference . “You want to be in an organization that has more ideas than it can fund. Our job is to allocate that and prioritize it.” Partnerships Newer automakers such as Rivian and Lucid are cutting costs and raising capital to stay afloat as the companies continue to lose tens of thousands of dollars on each EV they sell. Lucid’s largest shareholder, Saudi Arabia’s Public Investment Fund, has invested billions of dollars into the company, while Rivian has teamed up with Volkswagen for an up to $5.8 billion software deal , which is expected to close by the end of this year. GM and Hyundai this summer entered into an agreement to explore “future collaboration across key strategic areas” in an effort to reduce capital spending and increase efficiencies. The companies have not announced any actions since then. Marchionne argued such partnerships were effective but not enough going forward. He said companies could save billions of dollars annually in capital by sharing costs involving commoditized parts such as transmissions, standardized safety equipment and advanced driver assistance systems. “It’s fundamentally immoral to allow for that waste to continue unchecked,” Marchionne said in the three-hour conference call with global industry analysts in 2015. “Something needs to give. It cannot continue like this.” Some things have changed, but there have not been large systemic shifts. Major automotive industry mergers and joint ventures don’t always result in long-term successes. Many fall apart before producing significant results. Both VW and Rivian have experienced such failures with Ford in recent years. Rivian and the Detroit automaker canceled plans to codevelop EVs two years after Ford took a 12% stake in the startup in 2019. Around that time, VW also announced a $2.6 billion deal with Ford for autonomous vehicles that didn’t pan out. Stellantis Stellantis — formed through the merger of Fiat Chrysler and French automaker PSA Groupe in January 2021 — has proven that not all mergers enacted to produce scale guarantee a profitable company. After a record profit last year, the company has struggled in 2024. While Stellantis CEO Carlos Tavares has touted achieving roughly $9 billion in cost reductions following the merger, the automaker has mismanaged the U.S. market — its prime cash generator — with a lack of investment in new or updated products, historically high prices and extreme cost-cutting measures. When asked by Bernstein analyst Daniel Roeska about Stellantis not performing to “capital junkie” standards despite the massive merger, Tavares said the company achieved the scale needed to be more efficient but it’s still working on a product blitz and correcting mistakes in North America . Tavares said Stellantis remains more profitable than Fiat Chrysler and PSA were on their own. He also cited impacts of “regulatory chaos,” a reference to U.S. and Europe standards for EVs and emissions. “Stellantis is the concrete expression of the scale that you need to have to use the resources of your shareholders in a meaningful way. So, that’s what we did. FCA was too small,” Tavares said when discussing first-half results in July. “PSA was too small. Stellantis has the right scale. That’s an answer that I’m sure Sergio would recognize.”
Traffic citations against Dolphins' Tyreek Hill dismissed after officers no-show at hearingOMAHA, Neb. (AP) — Investor Warren Buffett renewed his Thanksgiving tradition of giving by handing out more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations Monday, and he offered new details about who will be handing out the rest of his fortune after his death. Buffett has said previously that his three kids will distribute his remaining $147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it's possible that Buffett's children could die before giving it all away. He didn't identify the successors, but said his kids all know them and agree they would be good choices. “Father time always wins. But he can be fickle – indeed unfair and even cruel – sometimes ending life at birth or soon thereafter while, at other times, waiting a century or so before paying a visit,” the 94-year-old Buffett said in a letter to his fellow shareholders Monday. “To date, I’ve been very lucky, but, before long, he will get around to me. There is, however, a downside to my good fortune in avoiding his notice. The expected life span of my children has materially diminished since the 2006 pledge. They are now 71, 69 and 66.” Buffett said he still has no interest in creating dynastic wealth in his family — a view shared by his first and current wives. He acknowledged giving Howard, Peter and Susie millions over the years, but he has long said he believes “hugely wealthy parents should leave their children enough so they can do anything but not enough that they can do nothing.” The secret to building up such massive wealth over time has been the power of compounding interest and the steady growth of the Berkshire conglomerate Buffett leads through acquisitions and smart investments like buying billions of dollars of Apple shares as iPhone sales continued to drive growth in that company. Buffett never sold any of his Berkshire stock over the years and also resisted the trappings of wealth and never indulged in much — preferring instead to continue living in the same Omaha home he'd bought decades earlier and drive sensible luxury sedans about 20 blocks to work each day. “As a family, we have had everything we needed or simply liked, but we have not sought enjoyment from the fact that others craved what we had,” he said. If Buffett and his first wife had never given away any of their Berkshire shares, the family's fortune would be worth nearly $364 billion — easily making him the world's richest man — but Buffett said he had no regrets about his giving over the years. The family's giving began in earnest with the distribution of Susan Buffett's $3 billion estate after her death in 2004, but really took off when Warren Buffett announced plans in 2006 to make annual gifts to the foundations run by his kids along with the one he and his wife started, as well as the Bill & Melinda Gates Foundation. Warren Buffett's giving to date has favored the Gates Foundation with $55 billion in stock because his friend Bill Gates already had his foundation set up and could handle huge gifts when Buffett started giving away his fortune. But Buffett has said his kids now have enough experience in philanthropy to handle the task and he plans to cut off his Gates Foundation donations after his death. Buffett always makes his main annual gifts to all five foundations every summer, but for several years now he has been giving additional Berkshire shares to his family's foundations at Thanksgiving. Buffett reiterated Monday his advice to every parent to allow their families to read their will while they are still alive — like he has done — to make sure they have a chance to explain their decisions about how to distribute their belongings and answer their children's questions. Buffett said he and his longtime investing partner Charlie Munger, who died a year ago, “saw many families driven apart after the posthumous dictates of the will left beneficiaries confused and sometimes angry.” Today, Buffett continues to lead Berkshire Hathaway as chairman and CEO and has no plans to retire although he has handed over most of the day-to-day managing duties for the conglomerates dozens of companies to others. That allows him to focus on his favorite activity of deciding where to invest Berkshire's billions . One of Buffett's deputies who oversees all the noninsurance companies now, Greg Abel, is set to take over as CEO after Buffett's death. Even after converting 1,600 Class A shares into 2.4 million Class B Berkshire shares and giving them away, Buffett still owns 206,363 Class A shares and controls more than 30% of the vote.
The long sports-filled Thanksgiving weekend is a time when many Americans enjoy gathering with friends and family for good food, good company and hopefully not too much political conversation. Also on the menu — all the NFL and college sports you can handle. Here's a roadmap to one of the biggest sports weekends of the year, with a look at marquee games over the holiday and how to watch. All times are in EST. All odds are by BetMGM Sportsbook. What to watch Thursday • NFL: There is a triple-header lined up for pro football fans. Chicago at Detroit, 12:30 p.m., CBS: Rookie quarterback Caleb Williams and the Bears go against the Lions, who are one of the favorites to reach the Super Bowl in February. Lions favored by 10. New York at Dallas, 4:30 p.m., Fox: The Giants and Cowboys are both suffering through miserable seasons and are now using backup quarterbacks for different reasons. But if Dallas can figure out a way to win, it will still be on the fringe of the playoff race. Cowboys favored by 3 1/2. Miami at Green Bay, 8:20 p.m., NBC/Peacock: The Packers stumbled slightly out of the gate but have won six of their past seven games. They'll need a win against Miami to try to keep pace in the NFC North. Packers favored by 3. • College Football: Memphis at No. 18 Tulane, 7:30 p.m., ESPN. If college football is your jam, this is a good warmup for a big weekend. The Tigers try to ruin the Green Wave’s perfect record in the American Athletic Conference. Tulane is favored by 14. Kansas City Chiefs quarterback Patrick Mahomes works in the pocket against the Carolina Panthers during the first half of Sunday's game in Charlotte, N.C. What to watch Friday • NFL: A rare Friday showdown features the league-leading Chiefs. Las Vegas at Kansas City, 3 p.m. Prime Video: The Chiefs and quarterback Patrick Mahomes are 12-point favorites over the Raiders. • College Basketball: Some of the top programs meet in holiday tournaments around the country. Battle 4 Atlantis championship, 5:30 p.m., ESPN: One of the premier early season tournaments, the eight-team field includes No. 3 Gonzaga, No. 14 Indiana and No. 24 Arizona. Rady Children's Invitational, 6 p.m., Fox: It's the championship game for a four-team field that includes No. 13 Purdue and No. 23 Mississippi. • College Football: There is a full slate of college games to dig into. Oregon State at No. 11 Boise State, noon, Fox: The Broncos try to stay in the College Football Playoff hunt when they host the Beavers. Boise State favored by 19 1/2. Oklahoma State at No. 23 Colorado, noon, ABC: The Buffaloes and Coach Prime are still in the hunt for the Big 12 championship game when they host the Cowboys. Colorado favored by 16 1/2. Georgia Tech at No. 6 Georgia, 7:30 p.m., ABC: The Bulldogs are on pace for a spot in the CFP but host what could be a tricky game against rival Georgia Tech. Georgia favored by 19 1/2. • NBA. After taking Thanksgiving off, pro basketball returns. Oklahoma City at Los Angeles Lakers, 10 p.m., ESPN: The Thunder look like one of the best teams in the NBA's Western Conference. They'll host Anthony Davis, LeBron James and the Lakers. What to watch Saturday • College Football. There are more matchups with playoff implications. Michigan at No. 2 Ohio State, noon, Fox: The Wolverines are struggling one season after winning the national title. They could make their fan base a whole lot happier with an upset of the Buckeyes. Ohio State favored by 21. No. 7 Tennessee at Vanderbilt, noon, ABC: The Volunteers are a fairly big favorite and have dominated this series, but the Commodores have been a tough team this season and already have achieved a monumental upset over Alabama. Tennessee favored by 11. No. 16 South Carolina at No. 12 Clemson, noon, ESPN: The Palmetto State rivals are both hanging on the edge of the CFP playoff race. A win — particularly for Clemson — would go a long way toward clinching its spot in the field. Clemson favored by 2 1/2. No. 3 Texas at No. 20 Texas A&M, 7:30 p.m. ABC: The Aggies host their in-state rival for the first time since 2011 after the Longhorns joined the SEC. Texas favored by 5 1/2. Washington at No. 1 Oregon, 7:30 p.m., NBC: The top-ranked Ducks have been one of the nation’s best teams all season. They’ll face the Huskies, who would love a marquee win in coach Jedd Fisch’s first season. Oregon favored by 19 1/2. • NBA: A star-studded clash is part of the league's lineup. Golden State at Phoenix, 9 p.m., NBA TV: Steph Curry and the Warriors are set to face the Suns' Big Three of Kevin Durant, Devin Booker and Bradley Beal. What to watch Sunday • NFL: It's Sunday, that says it all. Pittsburgh at Cincinnati, 1 p.m., CBS: Joe Burrow is having a great season for the Bengals, who are struggling in other areas. They need a win to stay in the playoff race, hosting a Steelers team that's 8-3 and won five of their past six. Bengals favored by 3. Arizona at Minnesota, 1 p.m., Fox: The Cardinals are tied for the top of the NFC West while the Vikings are 9-2 and have been one of the biggest surprises of the season with journeyman Sam Darnold under center. Vikings favored by 3 1/2. Philadelphia at Baltimore, 4:25 p.m., CBS: Two of the league's most electric players will be on the field when Saquon Barkley and the Eagles travel to face Lamar Jackson and the Ravens. Ravens favored by 3. San Francisco at Buffalo, 8:20 p.m. NBC/Peacock: The 49ers try to get back to .500 against the Bills, who have won six straight. Bills favored by 7. • NBA. The best teams in the Eastern Conference meet in a statement game. Boston at Cleveland, 6 p.m., NBA TV: The defending champion Celtics travel to face the Cavs, who won their first 15 games to start the season. • Premier League: English soccer fans have a marquee matchup. Manchester City at Liverpool, 11 a.m., USA Network/Telemundo. The two top teams meet with Manchester City trying to shake off recent struggles. • Auto Racing: The F1 season nears its conclusion. F1 Qatar Grand Prix, 11 a.m., ESPN2 – It's the penultimate race of the season. Max Verstappen already has clinched his fourth consecutive season championship. - Seasons coached: 23 - Years active: 1981-2003 - Record: 190-165-2 - Winning percentage: .535 - Championships: 0 Dan Reeves reached the Super Bowl four times—thrice with the Denver Broncos and once with the Atlanta Falcons—but never won the NFL's crown jewel. Still, he racked up nearly 200 wins across his 23-year career, including a stint in charge of the New York Giants, with whom he won Coach of the Year in 1993. In all his tenures, he quickly built contenders—the three clubs he coached were a combined 17-31 the year before Reeves joined and 28-20 in his first year. However, his career ended on a sour note as he was fired from a 3-10 Falcons team after Week 14 in 2003. - Seasons coached: 23 - Years active: 1969-91 - Record: 193-148-1 - Winning percentage: .566 - Championships: 4 Chuck Noll's Pittsburgh Steelers were synonymous with success in the 1970s. Behind his defense, known as the Steel Curtain, and offensive stars, including Terry Bradshaw, Franco Harris, and Lynn Swann, Noll led the squad to four Super Bowl victories from 1974 to 1979. Noll's Steelers remain the lone team to win four Super Bowls in six years, though Andy Reid and Kansas City could equal that mark if they win the Lombardi Trophy this season. Noll was elected to the Pro Football Hall of Fame in 1993, two years after retiring. His legacy of coaching success has carried on in Pittsburgh—the club has had only two coaches (Bill Cowher and Mike Tomlin) since Noll retired. - Seasons coached: 21 - Years active: 1984-98, 2001-06 - Record: 200-126-1 - Winning percentage: .613 - Championships: 0 As head coach of Cleveland, Kansas City, Washington, and San Diego, Marty Schottenheimer proved a successful leader during the regular season. Notably, he was named Coach of the Year after turning around his 4-12 Chargers team to a 12-4 record in 2004. His teams, however, struggled during the playoffs. Schottheimer went 5-13 in the postseason, and he never made it past the conference championship round. As such, the Pennsylvania-born skipper is the winningest NFL coach never to win a league championship. - Seasons coached: 25 - Years active: 1946-62, '68-75 - Record: 213-104-9 - Winning percentage: .672 - Championships: 7 The only coach on this list to pilot a college team, Paul Brown, reached the pro ranks after a three-year stint at Ohio State and two years with the Navy during World War II. He guided the Cleveland Browns—named after Brown, their first coach—to four straight titles in the fledgling All-America Football Conference. After the league folded, the ballclub moved to the NFL in 1950, and Cleveland continued its winning ways, with Brown leading the team to championships in '50, '54, and '55. He was fired in 1963 but returned in 1968 as the co-founder and coach of the Cincinnati Bengals. His other notable accomplishments include helping to invent the face mask and breaking pro football's color barrier . - Seasons coached: 29 - Years active: 1960-88 - Record: 250-162-6 - Winning percentage: .607 - Championships: 2 The first head coach of the Dallas Cowboys, Tom Landry held the position for his entire 29-year tenure as an NFL coach. The Cowboys were especially dominant in the 1970s when they made five Super Bowls and won the big game twice. Landry was known for coaching strong all-around squads and a unit that earned the nickname the "Doomsday Defense." Between 1966 and 1985, Landry and his Cowboys enjoyed 20 straight seasons with a winning record. He was elected to the Hall of Fame in 1990. - Seasons coached: 26 - Years active: 1999-present - Record: 267-145-1 - Winning percentage: .648 - Championships: 3 The only active coach in the top 10, Andy Reid has posted successful runs with both the Philadelphia Eagles and Kansas City. After reaching the Super Bowl once in 14 years with the Eagles, Reid ratcheted things up with K.C., winning three titles since 2019. As back-to-back defending champions, Reid and Co. are looking this season to become the first franchise to three-peat in the Super Bowl era and the third to do so in NFL history after the Packers of 1929-31 and '65-67. Time will tell if Reid and his offensive wizardry can lead Kansas City to that feat. - Seasons coached: 29 - Years active: 1991-95, 2000-23 - Record: 302-165 - Winning percentage: .647 - Championships: 6 The most successful head coach of the 21st century, Bill Belichick first coached the Cleveland Browns before taking over the New England Patriots in 2000. With the Pats, Belichick combined with quarterback Tom Brady to win six Super Bowls in 18 years. Belichick and New England split after last season when the Patriots went 4-13—the worst record of Belichick's career. His name has swirled around potential coaching openings , but nothing has come of it. Belichick has remained in the media spotlight with his regular slot on the "Monday Night Football" ManningCast. - Seasons coached: 40 - Years active: 1920-29, '33-42, '46-55, '58-67 - Record: 318-148-31 - Winning percentage: .682 - Championships: 6 George Halas was the founder and longtime owner of the Chicago Bears and coached the team across four separate stints. Nicknamed "Papa Bear," he built the ballclub into one of the NFL's premier franchises behind players such as Bronko Nagurski and Sid Luckman. Halas also played for the team, competing as a player-coach in the 1920s. The first coach to study opponents via game film, he was once a baseball player and even made 12 appearances as a member of the New York Yankees in 1919. He was inducted into the Hall of Fame in 1963 as both a coach and owner. - Seasons coached: 33 - Years active: 1963-95 - Record: 328-156-6 - Winning percentage: .677 - Championships: 2 The winningest head coach in NFL history is Don Shula, who first coached the Baltimore Colts (losing Super Bowl III to Joe Namath and the New York Jets) for seven years before leading the Miami Dolphins for 26 seasons. With the Fins, Shula won back-to-back Super Bowls in 1972 and 1973, a run that included a 17-0 season—the only perfect campaign in NFL history. He also coached quarterback great Dan Marino in the 1980s and '90s, but the pair made it to a Super Bowl just once. Shula was inducted into the Hall of Fame in 1997. Story editing by Mike Taylor. Copy editing by Robert Wickwire. Photo selection by Lacy Kerrick. You may also like: The 5 biggest upsets of the 2023-24 NFL regular season Be the first to know Get local news delivered to your inbox!None
MACON, Ga, (AP) — A Canadian company announced Thursday that it will spend $600 million to expand its tissue paper mill in Georgia, hiring 100 more workers. Irving Tissue said it needs to expand in Macon because the mill is currently selling all the bath tissue and paper towels it can make. The privately held firm will add a third paper machine, increasing output by 50%. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get the latest news, sports, weather and more delivered right to your inbox.