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Rolls-Royce operates three core business segments: civil aerospace, power systems, and defense. The civil aerospace segment builds engines powering wide-body aircraft, regional and business jets, and offers aftermarket services. Twenty years ago, the firm pioneered full-service flight hour contracts with the TotalCare package. Power systems provides power solutions to multiple end markets (defense, agriculture, marine, and power generation) while the defense business provides military, ground vehicle and naval propulsion solutions.

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Turkish Airlines is reportedly poised to ink a deal with Rolls-Royce Holdings Plc (OTC:RYCEY) (OTC: RYCEF and Airbus SE (OTC: EADSY) for local aircraft component production, estimat

Turkey&#39;s Aviation Ambitions Soar With $20B Rolls-Royce, Airbus Agreement: Report

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Rolls Royce&#39;s new profitability stance has led to some friction, and the Thai order marks the first public loss for the company due to this strategy.

Thai Airways Swaps Rolls-Royce For General Electric In Billion-Dollar Order For New Fleet

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Turkish Airlines&nbsp;is reportedly poised to ink a deal with&nbsp;Rolls-Royce Holdings Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RYCEY#OTC">RYCEY</a>) (OTC: RYCEF and&nbsp;Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) for local aircraft component production, estimated at $20 billion, as part of a plane acquisition plan announced last year.
A potential deal announcement is expected at an Istanbul ceremony later this month, reported&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-17/airbus-rolls-royce-close-to-20-billion-turkish-airlines-parts-deal?srnd=homepage-americas&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>, citing Turkish officials familiar with the matter.
Turkish Airlines solidified the purchase of 230 aircraft from Airbus in December, with further options, aiming to bolster its Istanbul hub to compete with regional giants.
This procurement included a push for local production of airplane parts. Notably, Turkish entities, including state-run TUSAS Engine Industries Inc., are expected to participate in the manufacturing program, the report noted.
The accord for domestic aircraft component production aligns with Turkey&#8217;s ambition to advance its civilian and military aviation sector. This initiative is integral to the $70 billion Airbus order in 2023.
The report further noted that Turkey has been in ongoing discussions with international firms, like Rolls-Royce, to acquire engine technology for domestic military projects.
Ankara&#8217;s government emphasizes domestic production in foreign acquisitions, extending to defense and commercial aviation sectors, reflecting a broader industrial strategy.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Turkey's Aviation Ambitions Soar With $20B Rolls-Royce, Airbus Agreement: Report

Thai Airways International Pcl (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TAWNF#OTC">TAWNF</a>) has decided to switch from Rolls-Royce Holdings Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RYCEY#OTC">RYCEY</a>) to General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) for its next-generation widebody engines, dealing a blow to the UK company&#8217;s efforts to enhance profitability.
What Happened: The Bangkok-based airline announced an order for 45 Boeing Co. aircraft equipped with engines manufactured by GE, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-02-14/boeing-wins-orders-for-at-least-45-aircraft-from-thai-airways?srnd=premium-asia">reported</a> on Wednesday. The order also includes an unspecified number of options. This decision comes after Rolls-Royce faced public criticism from Thai Airways&#8217; CEO over pricing concessions in November.
Rolls-Royce has been striving to improve profitability under CEO Tufan Erginbilgic, leading to a tougher stance with customers on new deals. This approach has led to some friction, and the Thai order marks the first public loss for Rolls-Royce due to this strategy.
See Also: <a href="https://www.benzinga.com/news/24/02/37087382/spacex-will-bring-down-100-starlink-satellites-to-keep-space-safe-should-customers-be-worried?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX Will Bring Down 100 Starlink Satellites To &#8216;Keep Space Safe&#8217; — Should Customers Be Worried?</a>
The new aircraft, which will be added to Thai Airways&#8217; fleet between 2027 and 2033, will not affect the airline&#8217;s ongoing repayment plans under its debt rehabilitation process.
Why It Matters: This move is a significant setback for Rolls-Royce, which is facing challenges in boosting profitability. The company&#8217;s approach to renegotiating existing contracts and taking a tougher line with customers on new deals has been met with resistance, as seen in the case of Thai Airways. 
For GE, this deal with Thai Airways comes at a crucial time, with the company&#8217;s <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/01/36735756/general-electrics-soft-guidance-sparks-concerns-as-ge-aerospace-and-ge-vernova-spin-">GE Aerospace and GE Vernova Spin-Off</a> nearing. The company&#8217;s fourth-quarter fiscal 2023 revenues of $19.4 billion, an increase of 15% year-over-year, and adjusted revenue of $18.5 billion (+13% Y/Y organically), had sparked concerns. 
On the other hand, Boeing has received a much-needed boost with this order from Thai Airways. 
In December, Boeing was reported to be on the verge of <a href="https://www.benzinga.com/markets/equities/23/12/36152216/boeing-to-ink-a-landmark-deal-as-thai-airways-reportedly-favors-787-dreamliner-over-airbus-is-ai">securing an exclusive widebody jet deal</a> with Thai Airways, with an announcement expected within weeks.
This development is being seen as a significant win for Boeing, especially in the wake of the intense scrutiny it faced over its manufacturing controls following an <a href="https://www.benzinga.com/news/24/02/36927036/boeing-737-max-deliveries-may-be-delayed-due-to-newly-discovered-quality-defects-report">accident on an Alaska Airlines flight</a>. 
Boeing has been facing a series of setbacks, including newly discovered <a href="https://www.benzinga.com/news/24/02/36927036/boeing-737-max-deliveries-may-be-delayed-due-to-newly-discovered-quality-defects-report">quality defects in its 737 MAX airplanes</a>, which could potentially lead to delivery delays. These challenges have raised concerns about Boeing&#8217;s <a href="https://www.benzinga.com/news/earnings/24/01/36844635/boeings-path-forward-q4-earnings-could-shed-light-on-ai-integration-production-targets">production targets and AI integration</a>, making each new deal and order all the more crucial for the company&#8217;s recovery.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/02/37032510/rivian-on-track-to-drive-higher-for-2nd-straight-session-whats-going-on-with-the-stock?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Rivian On Track To Drive Higher For 2nd Straight Session: What&#8217;s Going On With The Stock</a>
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Editor&#8217;s note: A previous version of this story mistakenly stated that RYCEY was the stock ticker for Rolls-Royce Motor Cars Ltd. However, it is actually the stock ticker for Rolls-Royce Holdings plc, a separate entity from Rolls-Royce Motor Cars Ltd, which is a wholly-owned subsidiary of BMW AG. We regret this error and have corrected the article accordingly.
The ultra-luxury car market is experiencing a surge in customized car sales, with automakers such as Ferrari NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Lamborghini, Rolls-Royce Holdings Plc, and Bentley Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>) witnessing record-breaking demand for personalized vehicles.
What Happened: The ultra-wealthy are increasingly seeking unique, customized vehicles from these automakers, <a href="https://edition.cnn.com/2024/02/03/cars/super-rich-people-ultra-luxury-automakers/index.html">reported</a> CNN on Saturday. This trend is driving substantial revenue growth for these companies.
Lamborghini, for instance, sold over 10,000 vehicles in 2023, a first in the company&#8217;s history. Ferrari saw a revenue increase of over 17%. The demand for personalized vehicles has led to a significant rise in sales of individually customized cars, some of which can cost double the base price of the vehicle.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/02/36912626/hold-yup-you-just-smoked-weed-new-testing-method-confirms-recent-cannabis-use-with-96-accuracy-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Yup, You Just Smoked Weed! New Testing Method Confirms Recent Cannabis Use With 96% Accuracy, Federally-Funded Study</a>
"Personalizations, customizations, have actually been the key driver behind the better than expected earnings throughout the year," Gonzalez Lastra,&nbsp;investment partner with Tema ETFs, which operates a luxury goods investment fund. said.
These automakers cater to a small, ultra-wealthy customer base, with at least $30 million in potential spending money. This demographic is not only growing in size but also increasing in wealth, creating a lucrative market for ultra-luxury vehicles.
Why It Matters: The surge in demand for ultra-luxury customized cars is indicative of the growing wealth of the global elite. This trend is also reflected in the broader luxury car market, where Tesla overtook Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) as the <a href="https://www.benzinga.com/top-stories/23/01/30379972/tesla-surpasses-bmw-as-top-luxury-car-in-us-for-2022">top-selling luxury car brand</a> in the U.S. in 2022. 
This shift in consumer preferences towards luxury electric vehicles has also been seen in the success of companies such as Lucid Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), which despite production challenges, received the <a href="https://www.benzinga.com/news/23/04/31694492/lucid-rides-high-with-best-luxury-car-award-but-will-production-woes-ground-its-success">2023 World Luxury Car</a> of the Year award.
Moreover, this trend has also attracted new players to the luxury car market, such as Chinese EV manufacturer BYD Co Ltd, which is venturing into the luxury car market with a series of high-end EVs, including a <a href="https://www.benzinga.com/news/24/01/36732237/warren-buffett-backed-byd-takes-on-tesla-with-lamborghini-style-supercar-and-suv-with-360-degree-rot">Lamborghini-style supercar</a> and an SUV with unique features. This indicates a significant shift in the luxury car market, driven by changing consumer preferences and the increasing wealth of the global elite.
Read Next: <a href="https://www.benzinga.com/news/24/02/36923592/in-biden-vs-trump-match-up-one-candidate-widens-his-lead-in-new-poll-fueled-by-support-among-this-de?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">In Biden Vs. Trump Matchup, One Candidate Widens His Lead In New Poll, Fueled By Support Among This Demographic: &#8216;A Story To Keep An Eye On&#8217;</a>
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Wheeling In Wealth: Ultra-Luxury Car Makers Ferrari, Lamborghini, Rolls-Royce Ride High On Soaring Demand For Personalized Rides (CORRECTED)

Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsf#OTC">EADSF</a>) won an additional&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-11-emirates-orders-15-more-airbus-a350-900s" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">order&nbsp;</a>for 15 A350-900s aircraft from Emirates Airlines at the Dubai Airshow. With this new order, Emirates Airlines&#39; total order is 65 aircraft.&nbsp;
The move came after Airbus&nbsp;reportedly faced a setback from Emirates at the Dubai Airshow, where the UAE-based airline reportedly ruled out an immediate contract to purchase Airbus A350-1000 jets on Tuesday, accusing a dispute with engine maker&nbsp;Rolls-Royce Holdings PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>)(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) over the durability of its engines and leaving the European planemaker&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/11/35770679/emirates-reportedly-defers-airbus-a350-deal-citing-engine-durability-concerns-amid-boeing-triump" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">without a significant showcase order</a>.
The deal comes as a compromise after Emirates publicly criticized the performance and cost of Rolls-Royce engines for the A350-1000 related to the downtime needed in Gulf conditions, Reuters reported, citing Industry sources.
At the end of October, the A350 had won over 1,000 orders from leading carriers globally.
HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group&nbsp;said, &quot;The A350-900s will add to our fleet mix and we are pleased to announce additional orders for this aircraft type. We plan to deploy our A350s to serve a range of new markets including long-haul missions of up to 15 hours flying time from Dubai. We will work closely with Airbus and Rolls-Royce to ensure our aircraft deliver the best possible operating efficiency and flying experience for our customers.&quot;
Also this month, Airbus inked a deal for 11 additional&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-11-ethiopian-airlines-in-it-for-the-long-haul-commits-to-a-further-11" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">A350-900s aircraft&nbsp;</a>with Ethiopian Airlines Group. Moreover, EGYPTAIR ordered&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-11-egyptair-announces-order-for-10-a350-900s-to-meet-growing-demand" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">10 A350-900s</a>&nbsp;aircraft from Airbus.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/10/35368302/airbus-bags-1-2b-in-contracts-to-enhance-french-tanker-transport-capabilities" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Airbus Bags &euro;1.2B In Contracts To Enhance French Tanker Transport Capabilities</a>
Price Action: EADSY shares closed lower by 1.14% at $35.43 on Wednesday.
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Airbus Bags Order For 15 More Aircraft From Emirates Following A Public Dispute: What's Going On?

Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsf#OTC">EADSF</a>) reportedly faced a setback from Emirates at the Dubai Airshow, where the UAE-based airline reportedly ruled out an immediate contract to purchase Airbus A350-1000 jets on Tuesday, accusing a dispute with engine maker&nbsp;Rolls Royce Holdings&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) over the durability of its engines and leaving the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/topic/aerospace" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">European planemaker without a significant showcase order.</a>
Tim Clark, president of Emirates, commented on the efficiency of the A350-1000&#39;s engine a day after announcing a $50 billion order for&nbsp;Boeing Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) 777X jets, according to a news report by Reuters. Clark noted that the engine&#39;s maintenance interval &quot;falls short,&quot; providing only a quarter of the duration required by Emirates&#39; operational standards.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/11/35728903/boeing-foresees-major-fleet-expansion-in-southeast-asia" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Boeing Foresees Major Fleet Expansion In Southeast Asia</a>
Clark told reporters that Emirates would order between 35 and 50 of the jets if Rolls-Royce improved the durability and maintenance costs.
Rolls-Royce told Reuters: &quot;Emirates is a valued customer and we look forward to supporting their future fleet growth plans.&quot;
Airbus Chief Commercial Officer Christian Scherer, however, supported Rolls-Royce&#39;s Trent XWB-97 engine.
&quot;It&#39;s a perfectly fine engine operated by many customers around the world.&quot; Scherer said while announcing an order from EGYPTAIR for ten new Airbus A350-900 aircraft at the Dubai Airshow, Reuters added.
Read Also:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/10/35163184/airbus-delivers-55-airplanes-to-34-customers-with-the-largest-orders-going-to-india" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Airbus Delivers 55 Airplanes To 34 Customers With The Largest Orders Going To India</a>
Meanwhile, Airbus said EGYPTAIR disclosed an&nbsp;<a class="editor-rtfLink" href="https://www.airbus.com/en/newsroom/press-releases/2023-11-egyptair-announces-order-for-10-a350-900s-to-meet-growing-demand" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">order&nbsp;</a>for ten new Airbus A350-900 aircraft at the Dubai Airshow.&nbsp;
The order has been received in the presence of EGYPTAIR&#39;s Chairman and CEO, Engineer Yehia Zakaria, and Airbus Chief Commercial Officer and Head of International, Christian Scherer.&nbsp;
The A350-900s will provide EGYPTAIR with 25% less fuel burn and, in turn, reduced emissions. At the same time, passengers enjoy the comfort of the Airbus AirSpace cabin, including a feeling of true spaciousness, wide seats, high ceilings, and alluring ambient lighting, according to a company release.
Also See:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/11/35748042/air-lease-and-egyptair-seal-deal-for-boeing-737-8-aircraft" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Air Lease And EGYPTAIR Seal Deal For Boeing 737-8 Aircraft</a>
&quot;Once delivered the A350-900 will be EGYPTAIR&#39;s flagship aircraft. Adding the world&#39;s most modern and efficient widebody aircraft to the airline&#39;s fleet will be instrumental in expanding its offering, opening new opportunities particularly in Western US and the far East,&quot; said Christian Scherer, Chief Commercial Officer and Head of Airbus International.&nbsp;
Price Action: EADSY shares closed higher by 0.85% to $34.79 on Monday, while BA shares traded higher by 0.49% to $205.54 premarket on the last checked Tuesday.
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Emirates Reportedly Defers Airbus A350 Deal, Citing Engine Durability Concerns Amid Boeing Triumph

German automaker&nbsp;BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), along with its subsidiaries&nbsp;Mini&nbsp;and&nbsp;Rolls-Royce (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RYCEY#OTC">RYCEY</a>), has announced plans to incorporate&nbsp;Tesla Inc.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) electric vehicle charging standard in its future EVs.
As <a href="https://www.theverge.com/2023/10/17/23921374/bmw-mini-rolls-royce-tesla-nacs-ev-charging-standard">reported</a> by The Verge, BMW stated&nbsp;that owners of electric vehicles&nbsp;equipped&nbsp;with the Combined Charging System&nbsp;(CCS) outlet will gain access to Tesla&#8217;s&nbsp;Supercharger network in early 2025,&nbsp;potentially via&nbsp;an adapter. BMW will also&nbsp;begin manufacturing EVs with Tesla&#8217;s charging standard integrated&nbsp;into the vehicle that same&nbsp;year.
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35280132/ford-f-150-lightning-demand-falters-as-dearborn-cuts-jobs-slashes-prices-what-does-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ford F-150 Lightning Demand Falters As Dearborn Cuts Jobs, Slashes Prices: What Does It Mean for Tesla&#8217;s Cybertruck?</a>
BMW&#8217;s current EV lineup, which&nbsp;includes the iX, i4, and&nbsp;i7 models, as well as the&nbsp;Mini Cooper electric models and&nbsp;the ultra-luxury Rolls-Royce Spectre, all currently feature&nbsp;the CCS plug for DC&nbsp;fast charging.
With this move, BMW joins a growing list of automotive companies, such as&nbsp;Ford, GM, Rivian, Volvo, Polestar,&nbsp;Nissan, Mercedes-Benz, and others that have adopted Tesla&#8217;s North American Charging Standard (NACS). However, major automakers like Volkswagen, Toyota, and Stellantis are yet to jump on the trend.
Tesla&#8217;s Supercharger network, consisting of approximately 45,000 Superchargers worldwide, is widely regarded as superior to many third-party EV charging stations. The company claims that its Superchargers are nearly flawless in their reliability, with an average uptime of 99.95 percent last year.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/10/35279050/scottish-tesla-owner-saddled-with-absolutely-obscene-20-740-rain-linked-repair-bill-my-heart-missed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scottish Tesla Owner Saddled With &#8216;Absolutely Obscene&#8217; $20,740 Rain-Linked Repair Bill: &#8216;My Heart Missed A Beat</a>
BMW Photo by Sklo Studio on Shutterstock
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Tech

TSLA

BMW To Adopt Tesla's EV Charging Standard For Future Vehicles

Rolls-Royce Holdings PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycef#OTC">RYCEF</a>) said that about 2000-2500&nbsp;<a class="editor-rtfLink" href="https://www.rolls-royce.com/media/press-releases/2023/17-10-2023-rr-to-create-simpler-more-efficient-and-effective-organisation-to-continue-to-deliver.aspx" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">roles&nbsp;</a>will be removed globally to make it a simpler, more streamlined organization in the next phase of its multi-year transformation.&nbsp;
Rolls-Royce expects the new structure to build enhanced capabilities in key areas such as procurement and supply chain management, ensuring they are as strong as its engineering and technical capabilities.
The proposed changes will also remove duplication and deliver cost efficiencies. Rolls-Royce currently employs 42,000 people worldwide.
The company said Engineering Technology &amp; Safety will come together as a single team across the group, responsible for product safety, engineering standards, process, methods and tools.
Rolls-Royce expects to create a new enterprise-wide procurement and supplier management organization to support the consolidation of group spend, leverage scale and develop consistent best in class standards.&nbsp;
Grazia Vittadini, Chief Technology Officer, will leave the company in April 2024.&nbsp;
&quot;We are building a Rolls-Royce that is fit for the future. That means a more streamlined and efficient organization that will deliver for our customers, partners and shareholders,&quot; said CEO Tufan Erginbilgic.
Price Action: RYCEY shares closed higher by 1.95% at $2.61 on Monday.

Rolls-Royce To Slash Up To 2,500 Jobs In An Effort To Cut Costs

Stefani Germanotta, better known as&nbsp;Lady Gaga, has amassed a net worth of $150 million, <a href="https://www.forbes.com/profile/lady-gaga/?sh=550e60f531fe">per</a> Forbes, but her&nbsp;journey to riches&nbsp;was a far cry from a straight shot. A little more than&nbsp;a decade ago, the 13-time Grammy winner racked up millions in&nbsp;debt and <a href="https://www.benzinga.com/topic/bankruptcy">filed for bankruptcy</a>.&nbsp;
That&#39;s &#39;Money Honey&#39;: According to a CNBC <a href="https://www.cnbc.com/2019/01/24/how-lady-gaga-went-bankrupt-after-her-monster-ball-tour.html">report</a>, Lady Gaga was $3 million in debt following her &quot;Monster Ball&quot; tour, which lasted&nbsp;from 2009 to 2011, and she didn&#39;t even realize it.&nbsp;
&quot;I put everything in the show, and&nbsp;I actually went bankrupt,&quot; she told the Financial Times in a 2011 <a href="https://www.ft.com/content/0cca76f0-873a-11e0-b983-00144feabdc0">interview</a>.&nbsp;
&quot;I remember I called everybody and said, &#39;Why is every&shy;one saying I have no money? This is ridiculous, I have five number one singles&#39;&nbsp;&ndash; and they said, &#39;Well, you&rsquo;re $3M&nbsp;in debt.&#39;&quot;
The singer had no idea, she said. She didn&#39;t spend large amounts of money on much, but she was constantly tinkering with her performance setups, revising the way she wanted things to look and she paid for most of it out of pocket.&nbsp;This helped make&nbsp;Monster Ball&nbsp;one of the least profitable tours of all time.&nbsp;
Check This Out:&nbsp;<a href="https://www.benzinga.com/general/entertainment/23/04/31853241/heres-a-mind-blowing-google-assistant-trick-to-identify-songs-without-saying-a-word">Here&#39;s A Mind-Blowing Google Assistant Trick To Identify Songs Without Saying A Word</a>
You wouldn&#39;t think that a 13-time Grammy winner who has sold millions of dollars in albums, <a href="https://www.benzinga.com/general/entertainment/23/02/30911111/rihanna-super-bowl-halftime-performance-confirms-pregnancy-did-a-trademark-filing-hint-at-t">performed at the Super Bowl</a> and even helped to create the hit movie &quot;A Star Is Born&quot; would have ever been underwater, but she was at one time.&nbsp;
However, it didn&#39;t last long. The same tinkering of her sets that sparked the bankruptcy was also reflected in her performance and songs. FT reported that the &quot;sheer quality&quot; of her work helped drive her&nbsp;popularity and get things moving in the right direction financially, but she didn&#39;t care.
&quot;It&rsquo;s honestly true that money means nothing to me,&quot; Lady Gaga said.&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/23/03/31451416/trump-beats-miley-cyrus-lady-gaga-to-top-of-billboard-with-justice-for-all">Trump Beats Miley Cyrus, Lady Gaga To Top Of Billboard With &#39;Justice For All&#39;</a>
She bought her parents a Rolls Royce (Pink: <a class="ticker" href="https://www.benzinga.com/stock/rycey#Pink">RYCEY</a>) and paid for a&nbsp;heart valve operation for her dad, but beyond that, she &quot;put everything in the show,&quot; she said.&nbsp;
In addition to the Grammy Awards,<a href="https://www.benzinga.com/topic/lady-gaga"> Lady Gaga</a> received an <a href="https://www.benzinga.com/general/entertainment/22/06/27700074/could-joker-and-harley-quinn-have-a-bad-romance-in-sequel-heres-who-the-studio-is-targeting">Academy Award</a> for her work in&nbsp;&quot;A Star Is Born,&quot; and during the COVID-19 pandemic, she helped organize a virtual concert that raised $130 million in relief funds.&nbsp;
&quot;The beauty for me about being an artist is that the dream will never die&nbsp;because I&rsquo;m not obsessed with material things and don&rsquo;t care about the money,&quot; she said.&nbsp;
From Last Month:&nbsp;<a href="https://www.benzinga.com/general/entertainment/23/03/31329797/donald-trump-comes-in-like-a-wrecking-ball-knocks-miley-cyrus-from-top-of-chart">Donald Trump Comes In Like A Wrecking Ball, Knocks Miley Cyrus From Top Of Chart</a>
Photo: Shutterstock

Entertainment

Success Stories

Lady Gaga Went Bankrupt Before She Grew Her Fortune To $150M — She Still Doesn't 'Care About The Money'

On Friday, shares of Rolls Royce Hldgs (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) experienced volatile short activity. After the activity, the stock price went down -1.36% to $1.81.
The overall sentiment for RYCEY has been Bullish.
The signal from the volatility alert is trending Bearish. Therefore, the recommendation is to Increase Short Exposure.
The volatility alert was produced on the prior trading date, 4/14/2023 with a volatility change of +192.25%. The current volatility indicator stands at 12.943.
Overview: The securities lending volatility indicator is produced by Tidal Markets, in partnership with Benzinga Insights. Securities lending primarily serves the purpose of providing liquidity to short sellers. When unusual activity occurs in the securities lending markets, it acts as an upstream indicator to what is likely to occur downstream in the regular stock market.
Understanding the Volatility Alert: Overall sentiment is considered &quot;bear&quot; when broad market activity of the stock has been shown to indicate a negative directional basis, or is considered &quot;bull&quot; when indicating a positive directional basis. The securities lending volatility indicator provides a signal when it detects unusual short activity. Unusual short activity is based off a computer generated algorithmic formula utilizing securities lending trade details such as the volume of shares being shorted, the rate being paid to short the shares, and the type of collateral being posted - amongst other variables. The current volatility is the respective trading day&#39;s calculated securities lending volatility value. The volatility percentage change is the percentage difference in volatility between the two most recent days. The recommendation is a suggestive strategy, inferred from the strength of the Signal Trending, Current Volatility, and Volatility % Change. Recommendations may include, &quot;Strong Buy&quot;, &quot;Strong Sell&quot;, &quot;Increase Short Exposure&quot;, &quot;Decrease Short Exposure&quot;, or &quot;Market Neutral&quot;.
ANY INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR IMPLY INVESTMENT ADVICE

Short Ideas

Trading Ideas

Short Volatility Alert: Rolls Royce Hldgs

Nuburu&nbsp;Inc (AMEX:BURU) shares are&nbsp;trading higher on above-average volume Wednesday after the company announced it was&nbsp;selected by the U.S. Department of Defense for a contract for <a href="https://www.benzinga.com/pressreleases/23/04/b31677142/nuburu-selected-by-u-s-department-of-defense-for-position-on-contract-for-high-energy-laser-system">high energy laser systems</a>.
What Happened: The Department of Defense&nbsp;<a href="https://www.benzinga.com/pressreleases/23/04/b31677142/nuburu-selected-by-u-s-department-of-defense-for-position-on-contract-for-high-energy-laser-system">selected</a> Nuburu&nbsp;for a position on the multiple award Indefinite Delivery/Indefinite Quantity&nbsp;contract to build&nbsp;prototypes and equipment for&nbsp;solid-state high energy laser&nbsp;weapon systems.
Nuburu was one of seven companies selected in the multiple award contract worth up to&nbsp;$75 million. Other companies selected for&nbsp;the contract include divisions of Lockheed Martin Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>) and&nbsp;Rolls-Royce Holdings (Pink: <a class="ticker" href="https://www.benzinga.com/stock/rycey#Pink">RYCEY</a>), among others.
&quot;NUBURU has the ability to manufacture laser diode, fiber optic and optical subsystems in the U.S. making us well positioned to support the DOD with its needs regarding this critical next-generation national security issue,&quot; said Mark Zediker, co-founder and CEO of Nuburu.
Nuburu noted that it did not include any potential revenue from this contract in its latest guidance for 2023.&nbsp;
<a href="https://www.benzinga.com/quote/BURU">Nuburu&#39;s</a> average session volume is about 123,000, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks">Benzinga Pro</a>. Wednesday&#39;s trading volume has already exceeded 12 million at publication time.
See Also:&nbsp;<a href="https://www.benzinga.com/news/23/04/31676496/whats-going-on-with-palantir-technologies-stock-today">What&#39;s Going On With Palantir Technologies Stock Today?</a>
BURU Price Action:<a href="https://www.benzinga.com/quote/BURU"> Nuburu shares</a> were up 130.2% at $6.26 at the time of writing, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks">Benzinga Pro</a>.
Photo:&nbsp;<a href="https://pixabay.com/users/raniramli-731298/">RaniRamli</a>&nbsp;from Pixabay.

Movers

BURU

Why Nuburu (BURU) Stock Is Soaring Today

Raytheon Technologies Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>), Rolls-Royce Holding PLC ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>), Boeing Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) and General Electric Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ge#NYSE">GE</a>) got some good news from the U.S. Department of Defense this week when each company was awarded <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/10/29239032/credit-suisse-picks-7-aerospace-defense-stocks-to-buy-4-to-avoid">new defense contracts.</a>
The Contracts: Raytheon&#39;s Pratt &amp; Whitney was awarded a $511.5 million contract from the U.S. Navy for F135 propulsion system annual sustainment. The deal includes program management, replenishment of spare parts, propulsion integration and engine support.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/10/29239032/credit-suisse-picks-7-aerospace-defense-stocks-to-buy-4-to-avoid">Credit Suisse Picks 7 Aerospace, Defense Stocks To Buy &mdash; And 4 To Avoid</a>
In addition, Raytheon Missiles and Defense was awarded an $84 million contract by the Army for 155mm Excalibur Increment lb projectiles.
Boeing was awarded a $399 million firm-fixed-price modification contract by the Air Force for the delivery of two KC-46A aircraft for the Japan Fleet.
&quot;With a price tag of $200mn per aircraft, we estimated this is 2x the price of the passenger version and brings the overall face value of the contract to $1,305mn,&quot; Bank of America analyst Ronald Epstein said Wednesday.
Rolls Royce was awarded a $228 million firm-fixed-price, indefinite-delivery/indefinite-quantity contract (IDIQ) by the Navy for engineering and logistics support services for KC-130J propulsion systems.
Finally, GE was awarded a $157 million firm-fixed-price, IDIQ modification contract by the Navy for propeller engineering reliability and logistic support for the KC-130J R391 propeller system.
Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29900224/russian-crypto-billionaire-killed-in-helicopter-crash-19th-tycoon-to-mysteriously-die-sinc">Russian Crypto Billionaire Killed In Helicopter Crash: 19th Tycoon To Mysteriously Die Since Putin&#39;s Ukraine Invasion</a> 
Here&#39;s a rundown of how the impacted stocks reacted to the new contracts on Wednesday:
<ul>
<li>GE was down 1.5%.</li>
<li>Raytheon was down 1%.</li>
<li>Boeing was up 0.6%.</li>
<li>Rolls Royce was up 2.3%.</li>
</ul>
Benzinga&#39;s Take: The new contracts are relatively modest in size compared to the massive budget of the Department of Defense. Aerospace and defense stocks are considered defensive investments because they generate so much of their revenue from long-term government contracts. Several of these stocks have been top S&amp;P 500 performers in 2022. Northrop Grumman Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/noc#NYSE">NOC</a>) is up 36.5% year-to-date, while Lockheed Martin Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>) is up 36.1% and Huntington Ingalls Industries Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hii#NYSE">HII</a>) is up 22.1%.
Image via Pixabay

Analyst Color

Government

Analyst Ratings

How Boeing, GE And Raytheon Shares Are Reacting To $1.3B In New US Defense Contracts

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29371914/tesla-slashes-china-ev-prices-by-5-to-push-up-volume-base-model-y-now-eligible-for-subsidies-but-the" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tesla Slashes China EV Prices By 5% To Push Up Volume, Base Model Y Now Eligible For Subsidies &mdash; But There&#39;s A Flip Side</a>
<ul>
<li>Tesla Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>) is cutting prices for its Giga Shanghai-made cars by about 5%, reversing the price hikes announced earlier this year.</li>
<li>Made-in-China basic Model 3 price is now listed at 265,900 yuan ($36,663) on Tesla&#39;s Chinese website, effective Monday. This marks a decrease from the previously-listed price of 279,900 yuan.</li>
<li>The starting price of the Model Y SUV is reduced from 316,900 yuan to 288,900 yuan.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/penny-stocks/22/10/29371353/rolls-royce-goes-full-electric-more-than-300-orders-for-its-400k-spectre-electric-vehicle" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Rolls-Royce Goes Full Electric - More Than 300 Orders For Its $400K Spectre Electric Vehicle</a>
<ul>
<li>Last year, Rolls-Royce (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/rycey#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RYCEY</a>) announced plans to replace its entire lineup of automobiles with EVs by 2030. To make good on this promise, the luxury auto manufacturer unveiled its first EV called Spectre on Oct. 18.</li>
<li>According to CEO, Torsten Muller-Otvos, 300+ customers had put deposits down for the car even before the unveiling last Tuesday. Many interested buyers visited the headquarters of Rolls-Royce in Goodwood, England, to get a sneak peek at the EV Coupe before its official unveiling.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29372078/myovant-agrees-to-be-acquired-by-sumitomo-pharma-unit-in-1-7b-deal-as-japanese-company-sweetens-b" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Myovant Agrees To Be Acquired By Sumitomo Pharma Unit In $1.7B Deal As Japanese Company Sweetens Bid</a>
<ul>
<li>Myovant Sciences Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/myov#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MYOV</a>) to be acquired by Japanese pharmaceutical company Sumitomo Pharma Co Ltd&#39;s (OTC: DNPUF) unit Sumitovant Biopharma for $27 per share in cash, or $1.7 billion in total. </li>
<li>The per-share value represents a 50% premium to Myovant&#39;s closing price on Sept. 30, the last trading before the Japanese company&#39;s non-binding proposal. Sumitovant currently beneficially owns 52% of Myovant shares.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29372455/philips-registers-5-comp-sales-decline-in-q3-as-supply-crisis-inflation-covid-ukraine-war-weigh-to-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Philips Registers 5% Comp Sales Decline In Q3 As Supply Crisis, Inflation, Covid, Ukraine War Weigh; To Let Go Off 4K Workers</a>
<ul>
<li>Koninklijke Philips N.V. (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/phg#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PHG</a>) reported a third-quarter FY22 comparable sales decline of 5% year-on-year to &euro;4.3 billion.</li>
<li>Continued supply shortages, inflationary pressures, the COVID situation in China, and the Russia-Ukraine war led to the decline.</li>
<li>The comparable order intake decreased by 6%.</li>
<li>Due to lower sales and supply chain headwinds, the adjusted EBITA margin contracted 750 bps to 4.8%. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29375082/mattel-agrees-to-pay-3-5m-to-settle-sec-charges-over-financial-misstatements" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mattel Agrees To Pay $3.5M To Settle SEC Charges Over Financial Misstatements</a>
<ul>
<li>The Securities and Exchange Commission said Mattel Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mat#NASDAQ">MAT</a>) has agreed to pay $3.5 million to settle charges relating to misstatements in its third and fourth-quarter 2017 financial statements.</li>
<li>According to the SEC&#39;s order, the toymaker understated the tax-related valuation allowance for Q3 FY17 by $109 million and overstated the tax expense for Q4 FY17 by the same amount.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29375176/credit-suisse-wraps-another-investigation-with-238m-settlement" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Credit Suisse Wraps Another Investigation With &euro;238M Settlement</a>
<ul>
<li>Credit Suisse Group AG CS has reached a settlement with the Parquet National Financier to resolve a legacy matter concerning an investigation into historical cross-border private-banking services. </li>
<li>The settlement provides for a public interest fine comprising a profit disgorgement of &euro;65.6 million and the payment of an additional amount of &euro;57.4 million. </li>
<li>Further, Credit Suisse will pay &euro;115 million to the French State as damages.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/10/29375937/schlumberger-rebrands-as-slb-with-new-identity-focusing-on-energy-innovation-decarbonization" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Schlumberger Rebrands As SLB, With New Identity Focusing On Energy Innovation, Decarbonization</a>
<ul>
<li>The world&#39;s largest oilfield services provider, Schlumberger NV (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/slb#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SLB</a>), is rebranding itself with a new name, color scheme, and logo that underscores its ambitions for a lower-carbon future.</li>
<li>The nearly 100-year-old firm was initially named after its founding family.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29372316/us-china-tensions-boil-as-taiwans-tsmc-also-joins-embargo-after-nvidia-and-amd" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US-China Tensions Boil As Taiwan&#39;s TSMC Also Joins Embargo After Nvidia and AMD</a>
<ul>
<li>Taiwan Semiconductor Manufacturing Company Ltd (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSM</a>) suspended the production of advanced silicon for Chinese startup Biren Technology to ensure compliance with U.S. regulations.</li>
<li>The decision related to the reports that Biren&#39;s products outperformed Nvidia Corp&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nvda#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NVDA</a>) A100 chips, which the U.S. had banned from the Chinese market.</li>
<li>Biren had concluded that its artificial intelligence chips produced by TSMC did not fall under the U.S. export restrictions because the product specs do not meet the criteria for curbs.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/10/29375070/airbus-might-land-an-order-of-almost-40-a350-jets-from-saudi-arabia" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Airbus Might Land An Order Of Almost 40 A350 Jets From Saudi Arabia</a>
<ul>
<li>Saudi Arabia is reportedly negotiating with Airbus SE (OTC: EADSY( (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/eadsf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EADSF</a>) to order almost 40 A350 jets.</li>
<li>According to industry sources, the country is planning to launch a new airline and challenge heavyweight carriers in the Gulf.</li>
<li>The new airline will be based in Riyadh, while state airline Saudia will be based out of the Red Sea city of Jeddah under a transportation strategy.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29374515/meta-backed-meesho-scored-against-amazon-and-walmart-in-indian-online-shopping" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Meta-Backed Meesho Scored Against Amazon and Walmart In Indian Online Shopping</a>
<ul>
<li>Meta Platforms Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/meta#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">META</a>) backed Meesho won more new shoppers in India than Amazon.com Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/amzn#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMZN</a>) and Walmart Inc&#39;s (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/wmt#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">WMT</a>) Flipkart.</li>
<li>Meesho posed a challenge to the U.S. retailing titans, which have plowed billions of dollars into the biggest untapped digital market.</li>
<li>Meesho allowed users to sell items by sharing product listings with friends via Meta&#39;s popular WhatsApp messaging service, Facebook and Instagram.</li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29375322/chinese-top-chipmaker-retaliates-by-firing-us-employees-in-core-tech-former-ceos-position-remain-und" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Chinese Top Chipmaker Retaliates By Firing US Employees In Core Tech, Former CEO&#39;s Position Remains Undecided</a>
<ul>
<li>Chinese chipmaker Yangtze Memory Technologies Corp ousted American employees in core tech positions following the U.S. embargo on China.</li>
<li>Some Americans reportedly were key to YMTC&#39;s Nand memory chip production breakthroughs.</li>
<li>YMTC&#39;s longstanding CEO, Simon Yang, a U.S. passport holder, stepped down ahead of the sanctions.</li>
<li>Yang transitioned from the Chief role in late September to Deputy Chair. His current role in the company remained undecided.</li>
</ul>

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29375015/walmart-taps-the-hot-lingerie-segment-ahead-of-holiday-sales" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Walmart Chose To Tap The &quot;Hot&quot; Lingerie Segment Ahead Of Holiday Sales</a>
<ul>
<li>Walmart Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/wmt#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">WMT</a>) revamped a popular top intimates and sleepwear brand Joyspun replacing its billion-dollar Secret Treasures sleepwear and intimates private brand.</li>
<li>Intimates dollar sales during the first nine months were 15% higher than in 2019, CNBC reports citing NPD. Sleepwear dollar sales are up 52% over that time frame.</li>
</ul>

AMZN

MYOV

NVDA

Tesla Slashes China EV Prices, TSMC Joins Embargo After NVIDIA and AMD, Schlumberger Rebrands As SLB: Top Stories Monday, Oct. 24

Last year, Rolls-Royce (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) announced plans to replace its entire lineup of automobiles with EVs by 2030. To make good on this promise, the luxury auto manufacturer unveiled its first EV called Spectre on October 18.
According to CEO, Torsten Muller-Otvos, 300+ customers had put deposits down for the car even before the unveiling last Tuesday. Many interested buyers visited the headquarters of Rolls-Royce in Goodwood, England, to get a sneak peek at the EV Coupe before its official unveiling.
The price of Spectre starts from $413,000 and has a range of 320 miles boasting 577 horsepower. The Coupe can go to 0-60 MPH in just 4.4 seconds and is relatively slimmer than usual Rolls-Royces. Spectre also became the first Rolls-Royce to have starlight doors with 1400 &ldquo;stars&rdquo; embedded in its interior.
The front grille is illuminated with 22 LEDs and has a &ldquo;waft&rdquo; line along its sides. The famous &ldquo;Spirit of Ecstasy&rdquo; figurine was also given a lower and more stable stance. EVs account for 6.4% of the total market in the US, which rose from 2.6% last year. Spectre is one of the most expensive EV Coupes in the market currently, described by the company as an &ldquo;Ultra-Luxury Electric Super Coup&eacute;.&rdquo;On discussing the new vehicle, Muller-Otvos said, &ldquo;stability, brilliant quality, timeless materials, flight-on-land, silent propulsion. It carries all these genes Rolls-Royce is famous for.&rdquo; 2021 has been a record year for Rolls-Royce, delivering 5,586 cars worldwide.
While the sales target and objectives aren&rsquo;t clear, the president of Rolls-Royce motor cars America, Martin Fritsches says, &ldquo;Demand has been incredible. While we haven&rsquo;t even shown Spectre publicly, we have more hard orders already than we had in total for Dawn or Cullinan.&rdquo;

Rolls-Royce Goes Full Electric - More Than 300 Orders For Its $400K Spectre Electric Vehicle

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29318729/us-lawmakers-plan-hearing-on-kroger-albertsons-25b-merger" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Lawmakers Plan Hearing On Kroger, Albertsons&#39; $25B Merger</a>
<ul>
<li>U.S. senators inspecting antitrust issues are set to hold a hearing on grocery chain Kroger Co&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kr#NYSE">KR</a>) plan to acquire rival Albertsons Companies Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aci#NYSE">ACI</a>) in a $25 billion deal.</li>
<li>Chair of the Senate Judiciary Committee antitrust panel, Democratic Senator Amy Klobuchar, and Republican Senator Mike Lee expressed serious concerns about the merger.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/entertainment/22/10/29317169/amazon-fined-by-russia-for-failing-to-remove-content-about-drug-use-suicide" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Fined By Russia For Failing To Remove Content About Drug Use, Suicide</a>
<ul>
<li>Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) was handed a fine by a court in Russia for failing to remove proscribed content on Tuesday.</li>
<li>A Moscow court fined the Jeff Bezos-founded conglomerate 4 million rubles ($65,000) for failing to remove content related to drug use and suicide without elaborating on specifics.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29320311/us-sends-gileads-covid-19-antiviral-to-safeguard-health-workers-in-uganda-ebola-outbreak" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Sends Gilead&#39;s COVID-19 Antiviral To Safeguard Health Workers In Uganda Ebola Outbreak</a>
<ul>
<li>The U.S. sent Gilead Sciences Inc&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/gild#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GILD</a>) remdesivir and Mapp Biopharmaceutical Inc&#39;s experimental Ebola antibody drug MBP134 to Uganda as a response to the Ebola outbreak.</li>
<li>The medicines will help safeguard healthcare workers responding to an outbreak that has infected 60 people and killed 44.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29319552/germanys-merck-slapped-with-formal-french-investigation-related-to-its-thyroid-drug" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Germany&#39;s Merck Slapped With Formal French Investigation Related To Its Thyroid Drug</a>
<ul>
<li>The French court is reportedly investigating Germany-based Merck KGaA (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mkkgy#OTC">MKKGY</a>), saying the company provided misleading information regarding its thyroid drug product Levothyrox.</li>
<li>The ruling did not concern the new formula for the Levothyrox product but how the company provided information when changing from the old to the new formula.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29319574/amazon-gets-another-breather-as-workers-dump-ny-union" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Earns Another Breather As Workers Dump NY Union</a>
<ul>
<li>Amazon.com Inc workers rejected organizing a New York state warehouse by a nearly two-to-one margin serving as another defeat to the countrywide labor union activism.</li>
<li>It marked Amazon workers&#39; third rejection in forming, including at a second New York City facility and another in Alabama.</li>
<li>Amazon recently raised its U.S. average starting pay for front-line staff.</li>
<li>Michael Pachter, an analyst at Wedbush Securities, said, &quot;If workers feel they are fairly paid, they are less likely to unionize.&quot;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29320739/singapore-fashion-brand-lovebonito-plans-first-us-store-in-2023-eyes-ipo-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Singapore Fashion Brand Lovebonito Plans First US Store In 2023, Eyes IPO</a>
<ul>
<li>Singapore&#39;s Direct-to-Consumer retailer Lovebonito Holdings is planning to open its first U.S. brick-and-mortar store in 2023.</li>
<li>Love, Bonito female fashion brand is backed by investors, including Chinese buyout firm Primavera Capital Group.</li>
<li>&quot;The U.S is really one of the big bet markets for us that we want to double down on,&quot; the report quoted CEO Dione Song.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/10/29317662/celsius-faces-federal-investigations-in-40-states-for-suspending-crypto-withdrawals" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Celsius Faces Federal Investigations In 40 States For Suspending Crypto Withdrawals</a>
<ul>
<li>Cryptocurrency lender Celsius Network (CRYPTO: CEL/USD), which declared bankruptcy earlier this year, told a U.S. bankruptcy court that it is facing several &quot;federal investigations.&quot;</li>
<li>Celsius has been subject to enforcement proceedings or investigations in at least 40 states, it told the Southern District of New York.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29321029/surveymonkey-parent-momentive-global-shares-jump-premarket-on-takeover-speculation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SurveyMonkey Parent Momentive Global Shares Jump Premarket On Takeover Speculation</a>
<ul>
<li>SurveyMonkey owner Momentive Global Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mntv#NASDAQ">MNTV</a>) explored a sale after getting takeover interest.</li>
<li>Momentive is working with a financial adviser.</li>
<li>Zendesk Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zen#NYSE">ZEN</a>) agreed to buy Momentive in 2021 for nearly $4 billion in an all-stock deal. </li>
</ul>

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29320037/rolls-royce-chief-touts-its-debut-ev-as-most-perfect-product-bags-massive-orders-even-before-launch" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Rolls-Royce Chief Touts Its Debut EV As &#39;Most Perfect&#39; Product; Bags Massive Orders Even Before Launch</a>
<ul>
<li>More than 300 U.S. buyers have already put down deposits for Rolls Royce Holdings plc&#39;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) debut electric vehicle before its unveiling on October 18.</li>
<li>Rolls-Royce CEO Torsten Muller-Otvos told CNBC that the buyers visited the company&#39;s headquarters in Goodwood, England, over the past two weeks to get a sneak peek at the Spectre, which had a starting price tag of $413,000.</li>
<li>&quot;Spectre is the most perfect product that Rolls Royce has ever produced,&quot; Muller-Otvos said.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29320040/target-stores-to-sell-caraways-kitchenware-products-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Target Stores To Sell Caraway&#39;s Kitchenware Products</a>
<ul>
<li>Target Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgt#NYSE">TGT</a>) will sell kitchenware and home goods brand Caraway&#39;s products in 350 stores starting this week.</li>
<li>New York-based Caraway is a direct-to-consumer company whose goods are already available on Target&#39;s website.</li>
<li>The latest move to sell products in Target&#39;s brick-and-mortar stores is expected to widen the customer base and drive growth.</li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29320792/amazon-braces-for-uks-insurance-market-with-latest-offering" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Braces For UK&#39;s Insurance Market With Latest Offering</a>
<ul>
<li>Amazon.com Inc launched a portal for buying insurance in the U.K., challenging veteran price comparison sites.</li>
<li>Amazon launched a home insurance comparison service a week after Apple Inc announced new high-yield savings account with Goldman Sachs Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>).</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29318252/spacex-launches-starlink-aviation-for-in-flight-connectivity-elon-musk-says-itll-feel-like-accessing" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SpaceX Launches&#39; Starlink Aviation&#39; For In-Flight Connectivity, Elon Musk Says It&#39;ll Feel Like &#39;Accessing Internet At Home&#39;</a>
<ul>
<li>Elon Musk-owned SpaceX&#39;s Starlink has launched a new service allowing air travelers to stay connected while on a flight.</li>
<li>Starlink announced &quot;Starlink Aviation,&quot; which, according to the company, will provide high-speed, low-latency, in-flight internet with connectivity across the globe.</li>
<li>The service will deliver up to 350 Mbps to each plane, allowing all passengers to access streaming-capable internet at the same time, Starlink said.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/gaming/22/10/29318104/netflix-seriously-exploring-cloud-gaming-space-as-it-launches-another-studio" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Netflix&#39; Seriously Exploring&#39; Cloud Gaming Space As It Launches Another Studio</a>
<ul>
<li>Netflix Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) plans to dive deep into gaming and is considering its cloud gaming platform.</li>
<li>At the TechCrunch Disrupt conference on Tuesday, the company&#39;s VP of games, Mike Verdu, said that the streaming giant is &quot;seriously exploring a cloud gaming offering so that we can reach members on TVs and PCs.&quot;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/22/10/29317736/as-apple-refreshes-ipad-models-4k-tv-ahead-of-holiday-season-analysts-weigh-in-on-p" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">As Apple Refreshes iPad Models, 4K TV Ahead Of Holiday Season, Analysts Weigh In On Pricing And Features</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) decided to do away with a launch event and announced another batch of new hardware products on Tuesday via press releases. The launches aligned with what Bloomberg&#39;s Mark Gurman reported on Saturday.</li>
<li>Commenting on the launches, Loup Funds&#39; Gene Munster noted that it had been four years since Apple updated the iPad and Pro before the holiday season. He added that these products account for about 6% of overall revenue.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29318932/apple-cuts-iphone-14-plus-production-to-tap-demand-for-premium-iphone-pro-models" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Cuts iPhone 14 Plus Production To Tap Demand For Premium iPhone Pro Models</a>
<ul>
<li>Apple Inc slashed the iPhone 14 Plus production less than two weeks after its debut.</li>
<li>Apple has told at least one manufacturer in China to immediately halt production of iPhone 14 Plus components while its procurement team reevaluated demand for the product. </li>
<li>Apple had positioned the iPhone 14 Plus as a cheaper alternative to its more expensive iPhone Pro models equipped with a large screen.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29320009/consumers-should-be-ready-for-further-price-increases-nestles-chief-executive-says" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Consumers Should Be Ready For Further Price Increases, Nestle&#39;s Chief Executive Says</a>
<ul>
<li>Nestle SA&#39;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsrgy#OTC">NSRGY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsrgf#OTC">NSRGF</a>) Chief Executive Officer Mark Schneider said inflation will remain an issue in 2023.</li>
<li>&quot;We are seeing huge upward pressure on energy, some agricultural commodities, and transportation costs.&quot;</li>
<li>Schneider said wages would add to cost pressure next year.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29320509/aramex-snaps-this-cross-border-e-commerce-enabler-platform-for-265m" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Aramex Snaps This Cross-border e-Commerce Enabler Platform For $265M</a>
<ul>
<li>Aramex PJSC, a leading global provider of comprehensive logistics and transportation solutions, obtained all necessary regulatory approvals and completed the acquisition of Access USA Shipping, LLC (MyUS), a global technology-driven platform enabling cross-border e-Commerce, for an all-cash consideration of $265 million.</li>
<li>The acquisition will further strengthen Aramex&#39;s cross-border express business.</li>
<li>This transaction will likely immediately value accretive for Aramex.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29307026/cma-orders-meta-to-sell-off-giphy-as-the-deal-failed-to-satisfy-antitrust-concerns" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CMA Orders Meta To Sell Off Giphy As The Deal Failed To Satisfy Antitrust Concerns</a>
<ul>
<li>The Competition and Markets Authority has found that Meta Platform Inc&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) takeover of Giphy could allow Meta to limit other social media platforms&#39; access to GIFs, making those sites less attractive to users and less competitive.</li>
<li>It also found that the deal has removed Giphy as a potential challenger in the U.K. display advertising market, preventing U.K. businesses from benefiting from innovation in this market.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29321162/infant-formula-fiasco-weighs-on-abbotts-q3-earnings-still-it-raised-fy22-eps-guidance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Infant Formula Fiasco Weighs On Abbott&#39;s Q3 Earnings, Still It Raised FY22 EPS Guidance</a>
<ul>
<li>Abbott Laboratories (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) has reported Q3 FY22 adjusted EPS of $1.15, down 17.9% Y/Y, better than the consensus of $0.94.</li>
<li>Q3 sales of $10.4 billion decreased 4.7% on a reported basis and increased 1.3% on an organic basis, beating the consensus of $9.64 billion.</li>
<li>Q3 sales were negatively impacted by declines in COVID-19 testing-related sales and a manufacturing stoppage of certain infant formula products.</li>
</ul>

Biotech

Earnings

Guidance

Health Care

Rumors

Small Cap

Legal

$BTC

AAPL

GILD

MKKGY

MNTV

NFLX

NSRGF

Nestle Sponsored representing Registered Shares Series B

NSRGY

SpaceX Starlink's New In-Flight Connectivity Service, Amazon's NY Workers Reject Union, Celsius Network Faces Several Federal Investigations: Top Stories Wednesday, Oct. 19

<ul>
<li>More than 300 U.S. buyers have already made deposits for&nbsp;Rolls-Royce Holdings plc&#39;s&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) debut electric vehicle before its unveiling&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/10/n29311969/rolls-royce-spectre-unveiled-the-marques-first-fully-electric-motor-car" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">on October 18</a>.</li>
<li>Rolls-Royce Motor Cars&nbsp;CEO Torsten Muller-Otvos told&nbsp;<a class="editor-rtfLink" href="https://www.cnbc.com/2022/10/18/rolls-royce-has-over-300-orders-for-its-413000-spectre-electric-vehicle.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">CNBC</a>&nbsp;that the buyers visited the company&#39;s headquarters in Goodwood, England, over the past two weeks to get a sneak peek at the Spectre, which had a starting price tag of $413,000.</li>
<li>&quot;Spectre is the most perfect product that Rolls Royce has ever produced,&quot; Muller-Otvos said.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29248312/ev-race-gets-heated-up-as-sony-honda-prepares-for-premium-ev-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">More Heat In The EV Race Gets As Sony and Honda Prepare For Premium EV Offering</a></li>
<li>The two-door coupe has a range of about 320 miles and can go from 0-60 miles per hour in 4.4 seconds.&nbsp;</li>
<li>Rolls-Royce aimed to become fully electric by 2030.</li>
<li>&quot;Once they have seen it here, they are delighted,&quot; the report quoted Muller-Otvos. &quot;The order book looks strong.&quot;</li>
<li>Spectre is touted as an &quot;Ultra-Luxury Electric Super Coup&eacute;.&quot;&nbsp;</li>
<li>The company plans to deliver the first customer cars in the fourth quarter of 2023.</li>
<li>General Motors Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) also launched its Celestiq EV, which starts at&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29301112/as-gm-launches-300k-cadillac-celestiq-ev-twitterati-have-a-field-day-with-one-likening-it-to-now-def" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">more than $300,000</a>.</li>
<li>In 2021, Rolls-Royce delivered 5,586 cars.</li>
<li>Price Action:&nbsp;GM shares traded lower by 1.52% at $33.73 in the premarket on the last check Wednesday.</li>
<li>Photo Via Company</li>
</ul>

Rolls-Royce Chief Touts Its Debut EV As 'Most Perfect' Product; Bags Massive Orders Even Before Launch

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28187205/intel-forges-foundry-chip-collaboration-with-this-tsmc-partner-after-qualcomm-amazon-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Intel Forges Foundry Chip Collaboration With This TSMC Partner After Qualcomm, Amazon</a>
<ul>
<li>Intel Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) and Media Tek Inc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mdtkf#OTC">MDTKF</a>) collaborated to manufacture chips using Intel Foundry Services&#39; (IFS) advanced process technologies.</li>
<li>Intel said the first products would be manufactured in the next 18- to 24- month period and will be in a more mature technology process called Intel 16, with the chips used for smart devices, Reuters reports.</li>
<li>In addition to maintaining a close partnership with Taiwan Semiconductor Manufacturing Co Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>) in advanced process nodes, this collaboration will enhance MediaTek&#39;s supply for mature process nodes.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/07/28200668/general-motors-joint-venture-to-receive-2-5b-government-loan-for-upcoming-battery-plants-in-us" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">General Motor&#39;s Joint Venture To Receive $2.5B Government Loan For Upcoming Battery Plants In US</a>
<ul>
<li>The U.S. Department of Energy is reviving an old low-cost loan program, and the first recipient is Ultium Cells, the joint battery venture between General Motors Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) and LG Energy Solution.</li>
<li>The $2.5 billion loan is expected to close in the coming months and will be used for its upcoming lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan.</li>
<li>GM and LG plan to invest more than $7 billion to build three battery plants.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28198468/amazon-announces-steeper-prime-price-increases-in-europe-just-ahead-of-quarterly-earnings" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Bumps Up Prime Membership Prices In Europe Just Ahead Of Q2 Earnings</a>
<ul>
<li>Amazon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) has reportedly announced a price hike for its Prime subscription in Europe, just ahead of the e-commerce giant&#39;s quarterly earnings report after market close on Thursday.</li>
<li>Amazon is hiking Prime membership fees by 30% in Germany, its biggest market outside the United States, Reuters reported.</li>
<li>In France, the increase was a steeper 43%, while U.K. customers may have to bear a more modest 20% increase, as per the report. Other European nations which will see such hikes include Italy and Spain.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28200538/former-tesla-veteran-helmed-ev-battery-supplier-earmarks-3-5b-for-nevada-plant-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Former Tesla Veteran Headed EV Battery Firm Redwood Materials Earmarks $3.5B For Nevada Plant</a>
<ul>
<li>Former Tesla, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CTO JB Straubel, who left in 2019 to start Redwood Materials Inc, looks to spend $3.5 billion on a battery-materials factory in northwest Nevada, the Wall Street Journal reports.</li>
<li>The Redwood Materials plant under construction outside Reno, Nevada, will likely be one of the first U.S. facilities to produce critical ingredients required to manufacture EV batteries, WSJ writes.</li>
<li>Over the past two years, companies from General Motors Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) to South Korean battery maker SK Innovation Co Ltd shared over $30 billion of investments in U.S. battery-cell making initiatives.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28201415/sec-demands-additional-information-on-russian-business-exits-from-companies-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SEC Demands Additional Information On Russian Business Exits From Companies</a>
<ul>
<li>The Securities and Exchange Commission has urged numerous corporations to make changes for future filings after questioning them repeatedly about how they disclose the financial impact of Russia&#39;s conflict on Ukraine, reported Wall Street Journal.</li>
<li>To ensure that investors can properly analyze risks, the U.S. securities regulator published a list of the information it requests from companies in May.</li>
<li>It has asked for additional queries recently and follow-ups in some instances.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/07/28198026/sec-probes-coinbase-over-crypto-token-listings-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Coinbase Under SEC Probe Over Crypto Token Listings: Report</a>
<ul>
<li>The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Coinbase Global Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) for listing unregistered securities on its cryptocurrency trading platform.</li>
<li>According to a report from Bloomberg on Monday, three people familiar with the matter said that the SEC&#39;s enforcement unit is looking into whether Coinbase wrongfully listed tokens that should have been registered as securities. </li>
<li>The sources also said that the SEC&#39;s inquiries began before it named nine crypto tokens as securities in an insider trading lawsuit against a former Coinbase employee and two of his associates. </li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28199044/amazon-rivalry-proved-expensive-for-alibaba-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Rivalry Proves Expensive For Alibaba</a>
<ul>
<li>Alibaba Group Holding Limited&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) rivalry with Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) cost Alibaba its global expansion plans, the Financial Times reports.</li>
<li>After fetching U.S. businesses onto its e-commerce platform, Alibaba struggled to accomplish its targets.</li>
<li>Alibaba launched its business-to-business e-commerce website in the U.S. three years ago, aiming to sign up over 1 million local businesses and compete globally as its domestic operations succumbed to the domestic tech crackdown, economic slowdown, and growing competition.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28201156/rolls-royce-names-this-pe-partner-as-new-chief-from-january-analysts-give-a-thumbs-up" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Rolls Royce Names This PE Partner As New Chief From January; Analysts Give Thumbs Up</a>
<ul>
<li>Rolls Royce Holdings plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) named Tufan Erginbilgic, a private equity partner and former BP plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>) executive, to succeed Warren East.</li>
<li>East, on February 24, disclosed his intention to step down at the end of this year.</li>
<li>Erginbilgic, 62, is a partner at Global Infrastructure Partners, a private equity firm that focuses on large-scale investments in infrastructure businesses.</li>
<li>Analysts at Deutsche Bank said the news was &quot;neutral to positive&quot; for the group because it clarified the leadership issues at the helm.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/22/07/28199244/why-is-alibaba-stock-surging-higher-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Why Alibaba Stock Is Shooting Higher Today</a>
<ul>
<li>Alibaba Group Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) shares are advancing strongly in premarket trading on Tuesday.</li>
<li>Shares of the Chinese e-commerce giant are getting a boost from twin developments. The company said Tuesday it plans to apply for a primary listing in Hong Kong. The stock already has a secondary listing in Hong Kong, which is a special administrative region of China. The primary listing process is expected to be completed by the end of 2022.</li>
<li>The Shenzhen-Hongkong Stock Connect program, which is currently available only for primary listings, could help attract investments into Alibaba stock from mainland China.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/07/28200793/general-motors-miss-q2-eps-on-supply-chain-disruption" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">General Motors Miss Q2 EPS On Supply Chain Disruptions; 95K Vehicles Still Waiting For Chips</a>
<ul>
<li>General Motors Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) reported second-quarter FY22 sales growth of 4.7% year-on-year, to $35.76 billion, beating the analyst consensus estimate of $34.59 billion.</li>
<li>Costs and expenses for the quarter rose 7.5% Y/Y to $33.6 billion.</li>
<li>The operating income for the quarter decreased 26.6% Y/Y to $2.1 billion, with an operating margin of 5.9%.</li>
<li>Outlook: General Motors sees FY22 net income of $9.6 billion - $11.2 billion. The company expects FY22 adjusted EPS of $6.50 - $7.50, versus the consensus estimate of $6.89.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/07/28201341/coca-cola-q2-earnings-smashes-estimates" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Coca-Cola beats On Q2 Earnings With 8% Volume Growth</a>
<ul>
<li>Coca-Cola Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>) reported second-quarter FY22 sales growth of 12% year-on-year, to $11.30 billion, beating the analyst consensus estimate of $10.54 billion.</li>
<li>Revenue performance included a 4% growth in concentrate sales and a 12% growth in price/mix.</li>
<li>Unit case volume grew 8% for the quarter.</li>
<li>Outlook: Coca-Cola expects the suspension of Russian business to affect 1% - 2% of its net revenue and operating income.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/07/28198869/dogecoin-copycat-teddy-doge-tanks-99-in-4-5m-soft-rug-pull" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Dogecoin Copycat On BNB Chain Tanks 99% In $4.5 M&#39; Soft Rug Pull&#39;</a>
<ul>
<li>Dogecoin DOGE/USD copycat Teddy Doge TEDDY/USD has orchestrated the latest DeFi rug pull, according to blockchain analytics firm PeckShield.</li>
<li>PeckShield alerted users that the Teddy Doge developers likely pulled off a &quot;soft rugpull,&quot; making off with $4.5 million worth of investor&#39;s tokens. The price of TEDDY dropped 99.4% after the news made rounds.</li>
<li>A rug pull is a scenario when the token&#39;s creators lure unsuspecting users into investing their crypto token only to pull liquidity and disappear with investor funds.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/07/28197864/coinbase-and-robinhood-shareholders-could-face-30-dilution-jpmorgan" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Coinbase, Robinhood Shareholders Could Face 30% Dilution: JPMorgan</a>
<ul>
<li>New research from analysts at JPMorgan Chase &amp; Co. finds that shareholders of stocks such as Coinbase Global Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/coin#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">COIN</a>) and Robinhood Markets Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) face a higher risk of dilution.</li>
<li>In a note to clients seen by CoinDesk on Monday, JPMorgan equity research analyst Kenneth Worthington explained that the dilution risk came from restricted stock unit (RSU) offerings in employee compensation plans.</li>
<li>&quot;Coinbase and Robinhood, like their tech-company peers, issue substantial equity to company employees allowing companies to both attract and incentivize employees while keeping cash compensation lower,&quot; wrote the analyst.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28197908/apple-other-tech-giants-purchased-illegally-mined-gold-from-amazon-rainforest-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple, Google, Other Tech Giants Used Illegally Mined Gold From Brazil&#39;s Amazon Rainforest: Report</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) and Alphabet Inc&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) Google are among a handful of U.S. tech giants that reportedly used gold mined illegally from Brazilian indigenous lands located in the Amazon rainforest.</li>
<li>Brazilian newspaper Rep&oacute;rter Brasil says it has seen documents that tech giants purchased the precious metal in 2020 from companies such as Italy&#39;s Chimet and Brazil&#39;s Marsam &mdash; both companies have faced investigations related to illegal gold mined from indigenous land.</li>
<li>Rep&oacute;rter said Apple and Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) branded mobile devices may have illegally extracted gold in them. Amazon.com, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) and Google super servers have filaments of gold in them as well.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28182664/new-apple-car-rumor-cupertino-brisk-with-its-patent-filings-for-self-driving-car" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple&#39;s Self-Driving Car Dreams Go Far Back As Early 2000s, Study Of Patents Show</a>
<ul>
<li>Apple, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) self-driving car has long been in the works under the &quot;Project Titan&quot; team.</li>
<li>Apple has made a slew of patent filings in recent years that relate to automotive-related technologies, Nikkei reported Monday, citing a joint investigation conducted by the publication and Tokyo-based analytics company Intellectual Property Landscape (IPL).</li>
<li>Apple&#39;s patent applications peaked in 2017 and then tapered off briefly, the report said, citing Akira Yamauchi, CEO of IPL. Usually, patent applications are published only after 18 months of filing. If the yet-to-be-published filings are included, Apple&#39;s 2021 patent filings may be on par with the record in 2017, the report added.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28194847/after-hours-alert-why-walmart-stock-is-falling." style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">After-Hours Alert: Why Walmart Stock Is Falling</a>
<ul>
<li>Walmart Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>) shares are trading lower in Monday&#39;s after-hours session after the company cut guidance for the second quarter and full fiscal year.</li>
<li>Walmart said it revised its outlook as a result of pricing actions aimed at improving inventory levels at Walmart and Sam&#39;s Club in the U.S. and mix of sales.</li>
<li>Consolidated net sales growth for the second quarter is expected to be about 7.5%, while full-year growth is expected to be about 4.5%. Operating income is expected to decline between 13% and 14% in the second quarter and between 11% and 13% for the full year.</li>
</ul>
Photo via Wikimedia Commons

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Benzinga Before The Bell: Walmart's Outlook Cut, Apple's Self Driving Car Dreams, Coinbase's SEC Investigation And Other Top Financial Stories Tuesday, July 26

<ul>
<li>Rolls Royce Holdings plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) named Tufan Erginbilgic, a private equity partner and former&nbsp;BP plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>) executive, to succeed Warren East&nbsp;<a class="editor-rtfLink" href="https://www.rolls-royce.com/media/press-releases/2022/26-07-2022-rr-appoints-tufan-erginbilgic-as-chief-executive-officer.aspx" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">as the CEO</a>, effective January 1.</li>
<li>East, on February 24, disclosed his intention to step down at the end of this year.</li>
<li>Erginbilgic, 62, is a partner at Global Infrastructure Partners, a private equity firm that focuses on large-scale investments in infrastructure businesses.&nbsp;</li>
<li>&ldquo;He has extensive strategic and operational experience and a firm understanding of safety-critical industries, including aerospace, as well as the challenges and commercial opportunities presented by the drive for low-carbon technologies,&rdquo; Chair Anita Frew added.</li>
<li>Erginbilgic, a dual U.K. and Turkish national, will receive a base salary of &pound;1.25 million.</li>
<li>In 2020 Rolls Royce embarked on a sweeping restructuring plan to cut 9,000 jobs and had to boost its balance sheet with &pound;7.3 billion of new equity and debt as the pandemic hit its operations,&nbsp;<a class="editor-rtfLink" href="https://www.ft.com/content/2a8818bc-b33c-4c3a-a5d1-430f2eef5343" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the Financial Times reports</a>.</li>
<li>Erginbilgic will need to steer Rolls-Royce back and navigate the decarbonization threat.&nbsp;</li>
<li>Under CEO East, the company has invested in electric aircraft and small modular nuclear reactors.&nbsp;</li>
<li>Analysts at&nbsp;Deutsche Bank&nbsp;said the news was &ldquo;neutral to positive&rdquo; for the group because it clarified the leadership issues at the helm.&nbsp;</li>
<li>While Erginbilgic had &ldquo;limited aerospace experience, he appears to be a seasoned industry professional with extensive experience in delivering strong improvement in profitability,&rdquo; they added.</li>
</ul>

Management

Rolls Royce Names This PE Partner As New Chief From January; Analysts Give Thumbs Up

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/06/27808907/moderna-to-establish-new-vaccine-facility-in-britain" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Moderna To establish New Vaccine Facility In Britain</a>
<ul>
<li>Moderna Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) announced an agreement with the United Kingdom government to establish an mRNA Innovation and Technology Center in the U.K.</li>
<li>Additionally, Moderna plans to expand its presence in the U.K. through investments in R&amp;D activities.</li>
<li>Moderna is collaborating with the National Institute for Health Research on a Phase 3 study investigating Moderna&rsquo;s bivalent Omicron-containing booster candidate (mRNA-1273.214) in the U.K.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27806255/amazon-lost-two-key-black-executives-this-week-heres-what-you-need-to-know" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Lost 2 Key Black Executives This Week: What You Need To Know</a>
<ul>
<li>Amazon.com, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) has reportedly lost two key Black executives, including one on its core team.</li>
<li>Alicia Boler-Davis, senior vice president of global customer fulfillment, and David Bozeman, vice president of Amazon Transportation Services, are leaving the retail giant, reported CNBC.</li>
<li>Boler-Davis and Bozeman have decided to explore opportunities outside Amazon, according to an email from Amazon&rsquo;s operations division head John Felton, seen by CNBC.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27808293/meta-microsoft-alibaba-others-form-metaverse-governing-body-important-names-go-missing" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Meta, Microsoft, Alibaba, Others Form Metaverse Governing Body; Apple&rsquo;s Name Missing</a>
<ul>
<li>Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), Alibaba Group Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>), and other tech giants striving to build the emerging metaverse concept have formed a group to foster the development of industry standards.</li>
<li>Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) strangely missed the members&rsquo; list.</li>
<li>Interestingly, Apple CEO Tim Cook recently confirmed the iPhone maker&rsquo;s foray into the domain.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27809151/bombardiers-workers-on-key-program-vote-on-contract-offer-today-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bombardier&rsquo;s Workers On Key Program Vote On Contract Offer Today</a>
<ul>
<li>Bombardier Inc (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bdrbf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BDRBF</a>) (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bdrbd#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BDRBD</a>) workers on a key program for the Canadian business jet maker will be deciding today whether to accept a new contract offer or walk off the job, reported Reuters.</li>
<li>According to the letter seen by Reuters, Bombardier had offered its workers on a key jet program a new and final contract that would provide wage raises of up to 18.5 percent over five years.</li>
<li>Rejection of the above deal would lead to a general strike by the 1,800 workers.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27809375/boeing-says-supply-chain-issues-to-persist-through-majority-of-2023" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Boeing Says Supply Chain Issues To Persist Through Majority Of 2023</a>
<ul>
<li>Boeing Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) expects supply chain problems to persist almost until the end of 2023, led by labor shortages at mid-tier and smaller suppliers, partly due to the faster-than-expected return of demand, reported Reuters, citing BA&rsquo;s chief executive on Wednesday.</li>
<li>&ldquo;The shift from demand to now supply issues ... is remarkable, the speed with which it happened,&rdquo; Boeing Chief Executive David Calhoun said at Bloomberg&rsquo;s Qatar Economic Forum in Doha.</li>
<li>&ldquo;It&rsquo;s been a real issue for both manufacturers and will probably stay that way in my view almost to the end of next year,&rdquo; Calhoun added.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27808447/biden-administration-working-on-capping-nicotine-levels-in-tobacco-products" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">How About Reducing Nicotine Levels In Tobacco Products? Biden Administration Working On Cap Plan</a>
<ul>
<li>The Biden administration signaled that it would develop a proposed rule to establish a maximum nicotine level to reduce the addictiveness of cigarettes and certain other combusted tobacco products. The goal of the potential rule would be to reduce youth use, addiction, and death.</li>
<li>&ldquo;Nicotine is powerfully addictive,&rdquo; FDA Commissioner Robert Califf said in the statement.</li>
<li>&ldquo;Lowering nicotine levels to minimally addictive or non-addictive levels would decrease the likelihood that future generations of young people become addicted to cigarettes and help more currently addicted smokers quit,&rdquo; he added.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/06/27808899/crypto-com-receives-singapore-token-permits-approval-along-with-two-other-firms" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Crypto.com Receives Singapore Token Permits Approval Along With Two Other Firms</a>
<ul>
<li>Singapore will be issuing in-principle approvals for Crypto.com, Genesis, and Sparrow Tech to provide digital payment token services in the city-state, even as it maintains a strict cryptocurrency licensing regime.</li>
<li>According to a statement published by Crypto.com on Wednesday, it has received in-principle approval from the Monetary Authority of Singapore (MAS) for its Major Payment Institution License.</li>
<li>Once granted, this license will enable Crypto.com to offer a range of payment services within the Payment Services Act, including Digital Payment Token (DPT) services to customers in Singapore.</li>
</ul>

 Financial times
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27809399/union-rejects-rolls-royces-inflation-bonus-all-you-need-to-know" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Union Rejects Rolls Royce&rsquo;s Inflation Bonus: All You Need To Know</a>
<ul>
<li>A union representing Rolls Royce Holdings plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) workers in the UK rejected the company&rsquo;s offer of a &pound;2,000 one-off payment to beat the inflation.</li>
<li>The offer also included a 4% pay hike.</li>
<li>The union known as Unite argued that the offer &ldquo;falls far short of the real cost of living challenges which our members are experiencing.&rdquo;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/06/27809124/this-athleisure-retailer-undergoes-corporate-governance-rejig-as-planned" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Athleisure Retailer JD Sports Undergoes Corporate Governance Rejig As Planned</a>
<ul>
<li>JD Sports Fashion PLC (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jdspy#OTC">JDSPY</a>) appointed Helen Ashton as the interim Non-Executive Chair and Kath Smith, senior independent director, as interim CEO as Peter Cowgill departed on May 25.</li>
<li>JD previously disclosed corporate governance rejig involving the split the role of CEO and Chair and conducting a search for CEO and Chair.</li>
<li>Alongside its much-delayed full-year results, JD justified multiple regulatory issues behind the higher board-level experience and greater internal scrutiny and control.</li>
</ul>

New York Post
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27806083/biden-ceos-of-chevron-trade-barbs-over-rising-gas-prices" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Joe Biden Calls Chevron CEO&rsquo; Sensitive,&rsquo; Invites Target Chief&rsquo;s Ire Amid Gas Price Debate</a>
<ul>
<li>Joe Biden&rsquo;s spat with American corporate executives intensified this week as he traded barbs with the CEO of Chevron Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>), while Target Corp&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgt#NYSE">TGT</a>) chief executive slammed the U.S. President&rsquo;s idea of a gas tax holiday.</li>
<li>Biden reportedly called Chevron CEO Michael Wirth &ldquo;mildly sensitive&rdquo; on Tuesday, after the latter&rsquo;s rebuttal to the President criticizing energy firms for high gas prices. </li>
<li>&ldquo;I didn&rsquo;t know they&rsquo;d get their feelings hurt that quickly,&rdquo; The New York Post reported on Tuesday.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/06/27805058/bitcoins-short-term-market-performance-is-poor-and-hodlers-are-selling-but-adoption-keeps-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bitcoin Hodlers Are Selling Amid Bear Market &mdash; But Adoption Keeps Growing</a>
<ul>
<li>Bitcoin&rsquo;s BTC/USD short-term market performance has seen better times. However, on-chain data analysis revealed that even though the seven-day average of Bitcoin addresses in profit recently reached a two-year low of nearly 55.7%, it still implies most are still profiting.</li>
<li>On-chain data shows that the number of Bitcoin addresses holding at least 0.01 BTC (equivalent to nearly $210 as of press time) just reached a new record high. According to data shared in a Tuesday tweet by an account of Glassnode dedicated to sharing findings of the blockchain data firm, there are current.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/22/06/27806342/apple-analyst-says-meta-puts-on-hold-new-arvr-projects-amid-slowdown-expects-new-hi" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Meta Facing AR/VR Slowdown: Analyst Updates Expectations On Quest 2 Pro Headset Launch</a>
<ul>
<li>Meta Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), which changed its name and ticker to reflect its pivot toward the metaverse, is not seeing much traction on that front, according to tech analyst Ming-Chi Kuo.</li>
<li>The TFI International Securities analyst said Meta&rsquo;s metaverse hardware/headset business has slowed. He noted that the social media platform had cut its shipment forecast for the category by 40% to 7 million-8 million for 2022.</li>
<li>All new headset/Augmented Reality/Mixed Reality hardware projects have also been put on hold until 2024, he added.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27808026/toyota-motor-cuts-july-production-further" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toyota Cuts July Production Citing Parts Shortage</a>
<ul>
<li>Toyota Motor Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) has cut its July global production plan by 50,000 vehicles due to the parts shortage resulting from the spread of COVID-19.</li>
<li>The company expects the global production volume for July to be approximately 800,000 units (250,000 units in Japan and 550,000 units overseas).</li>
<li>The auto major has decided to extend the previously announced operations halt in production lines as the COVID-19 outbreak at one of its suppliers raised concern.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27808283/energy-investments-to-increase-8-but-insufficient-to-tackle-rising-prices-iea-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Despite 8% Increase in Energy Investments, Rising Oil Prices Difficult To Tackle: IEA Report</a>
<ul>
<li>According to the International Energy Agency report, the global energy investment is expected to swell to $2.4 trillion, up 8%, with the anticipated rise coming mainly in clean energy.</li>
<li>Encouraging, but the investment is still far from enough to tackle the current energy crisis, the report added.</li>
<li>&ldquo;A massive surge in investment to accelerate clean energy transitions is the only lasting solution. This kind of investment is rising, but we need a much faster increase to ease consumer pressure from high fossil fuel prices, secure our energy systems, and get the world on track to reach our climate goals,&rdquo; said IEA Executive Director Fatih Birol.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27808900/british-retailer-frasers-group-raises-investment-in-hugo-boss-to-900m" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">British Retailer Frasers Boosts Investment In Hugo Boss</a>
<ul>
<li>British retail and intellectual property group Frasers Group PLC (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sdipf#OTC">SDIPF</a>) has increased its investment in Hugo Boss AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bossy#OTC">BOSSY</a>), the German luxury fashion brand, to &euro;900 million.</li>
<li>Frasers noted the increased position reflects its belief in the Hugo Boss brand, strategy, and management team.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27806732/apples-cook-opens-up-on-cupertinos-armr-efforts-for-first-time-stay-tuned-to-see-what-we-have-to-off" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tim Cook Opens Up At Last About Apple&rsquo;s AR/MR Project: &lsquo;Stay Tuned To See What We Have to Offer&rsquo;</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) remained tight-lipped about rumors of its augmented reality/mixed reality (AR/MR) project at its developers&rsquo; conference earlier this month. But now, CEO Tim Cook has apparently confirmed the iPhone maker&rsquo;s foray into the segment.</li>
<li>In an interview with China Daily last week, Cook said he was incredibly excited about AR, in response to a question about the key factors it needs to succeed with customers.</li>
<li>&ldquo;The critical thing to any technology, including AR, is putting humanity at the center of it. And that is what we focus on every day,&rdquo; Cook said.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27806375/development-buzz-musk-spillover-whats-pushing-shiba-inu-shib-higher-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Shiba Inu (SHIB) Surges 17%: Musk&rsquo;s Dogecoin Spillover, Lead Developer Buzz And More Factors</a>
<ul>
<li>Shiba Inu (SHIB) shot up 17.3% over 24 hours to $0.0000096 at press time in the early hours of Wednesday morning.</li>
<li>It gained alongside well-known meme coins, including bellwether Dogecoin DOGE/USD, which was up 6.1%. The global cryptocurrency market cap declined 0.9%.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27806107/elon-musk-reacts-to-bloomberg-predicting-volkswagen-overtaking-tesla-by-2024" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Elon Musk Reacts To Prediction Of Volkswagen Overtaking Tesla By 2024</a>
<ul>
<li>Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CEO Elon Musk on Tuesday dismissed a recent Bloomberg Intelligence forecast that estimates Germany&rsquo;s Volkswagen Group (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/vwagy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VWAGY</a>) could become the top electric vehicle maker by 2024.</li>
<li>The billionaire entrepreneur, who heads the world&rsquo;s largest electric vehicle company, said he does not agree with the forecast.</li>
<li>&ldquo;I believe that forecast was from you,&rdquo; Musk said in response to a question on competition in the EV space.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27805948/cathie-wood-sheds-nearly-all-exposure-in-walt-disney-on-tuesday" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Cathie Wood Sheds Nearly All Walt Disney Exposure With $7M Sale</a>
<ul>
<li>Cathie Wood-led Ark Invest Management on Tuesday shed most of its exposure in Walt Disney Co (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/dis#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DIS</a>) amid reports of a likely shareholder battle over CEO Bob Chapek&rsquo;s salary.</li>
<li>The popular money managing firm sold 76,387 shares, estimated to be worth $7.12 million, in the entertainment giant that owns Disney parks and resorts and other properties.</li>
<li>Disney shares closed 1.1% lower at $93.3 on Tuesday and are down 40.5% year-to-date.</li>
</ul>
Photo via Wikimedia Commons

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Benzinga Before The Bell: Executive Shakeup At Amazon, Boeing Supply Chain Warning, Apple's Tim Cook Says 'Stay Tuned' On AR/MR And Other Top Financial Stories Wednesday, June 22

<ul>
<li>A union representing&nbsp;Rolls Royce Holdings plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rycey#OTC">RYCEY</a>) workers in the U.K. rejected the company&#39;s offer of a &pound;2,000 one-off payment to beat the crippling inflation,&nbsp;<a class="editor-rtfLink" href="https://www.bbc.com/news/business-61874786" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the BBC reports</a>.</li>
<li>The offer also included a 4% pay hike. The union known as Unite argued that the offer &quot;falls far short of the real cost of living challenges which our members are experiencing.&quot;</li>
<li>Rolls Royce reasoned, &quot;This is a good deal for our colleagues that is fair and competitive, with an immediate cash lump sum to help them through the current exceptional economic climate.&quot;</li>
<li>The consumer price inflation climbed to a 40-year high of 9% in April,&nbsp;<a class="editor-rtfLink" href="https://www.ft.com/content/39bc3679-0cac-4495-a084-ef66e0d1044c" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the Financial Times reports</a>. Simultaneously, household energy bills have soared, and petrol and diesel prices have reached record highs.&nbsp;</li>
<li>The union was still in negotiations with Rolls-Royce about the pay offer.</li>
<li>The rejection comes 24 hours after Rolls-Royce CEO Warren East&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27792768/read-rolls-royces-first-of-its-kind-attempt-to-beat-inflation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">made the offer</a>.</li>
<li>East acknowledged that a &quot;simple wage increase&quot; was &quot;just not affordable and, in fact, it would be irresponsible,&quot; adding that it would damage the company&#39;s &quot;future competitiveness in the U.K., by adding too much cost into the long-term wage bill at times of such high uncertainty.&quot;&nbsp;</li>
<li>Rolls-Royce is a leading manufacturer in the U.K., employing just below 20,000 people at its plants across the country, including at sites in Derby and Bristol.</li>
<li>Of the 14,000 staff at Rolls-Royce who was eligible for the payment, 11,000 members were unionized.</li>
<li>Photo by Loco Steve via Flickr</li>
</ul>

Regulations

Union Rejects Rolls Royce's Inflation Bonus: All You Need To Know

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Benzinga Before The Bell: Elon Musk Confirms Tesla Cutting Workforce, Kellogg Splitting In 3 Companies And Other Top Financial Stories Tuesday, June 21

Czech power company signs deal with Rolls-Royce to build small nuclear reactors

In a report released today, David Perry from J.P. Morgan maintained a Buy rating on Rolls-Royce Holdings (RYCEF – Research Report), with a price ta...

J.P. Morgan Sticks to Their Buy Rating for Rolls-Royce Holdings (RYCEF)

In a report released today, Daniela Costa from Goldman Sachs maintained a Buy rating on Rolls-Royce Holdings (RYCEF – Research Report), with a pric...

Goldman Sachs Keeps Their Buy Rating on Rolls-Royce Holdings (RYCEF)

JPMorgan raised the firm's price target on Rolls-Royce (RYCEY) to 655 GBp from 535 GBp and keeps an Overweight rating on the shares. Published firs...

Rolls-Royce price target raised to 655 GBp from 535 GBp at JPMorgan

Kepler Capital analyst Aymeric Poulain maintained a Hold rating on Rolls-Royce Holdings (RYCEF – Research Report) on November 7 and set a price tar...

Kepler Capital  Remains a Hold on Rolls-Royce Holdings (RYCEF)

Rolls-Royce: Multiple Growth Drivers

Rolls-Royce seeks to speed up jet-engine service amid airline complaints

Top 10 Quant Stocks Of 2024: Up Over 120%

In a report released today, Ian Douglas from UBS maintained a Buy rating on Rolls-Royce Holdings (RYCEF – Research Report), with a price target of ...

UBS Sticks to Its Buy Rating for Rolls-Royce Holdings (RYCEF)

Fallen Angels: Rates Rise, Spreads Tighten

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Press Releases

Veryon and Rolls-Royce Deutschland enter long-term engine diagnostics platform agreement

Fairbanks Morse Defense to Acquire Rolls-Royce Naval Propulsors & Handling Business

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