If you’ve been injured while on an airplane, a number of factors can determine what kind of compensation you’re entitled to, experts say.
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July 13, 2019 at 01:53AM
Jumat, 12 Juli 2019
Ford & Volkswagen Autonomous & Electric Car Marriage Is Official - CleanTechnica
July 12th, 2019 by Steve Hanley
Last week, we reported on how Ford and Volkswagen were cozying up to each other in an attempt to meet the twin challenges of electric cars and autonomous driving head on. Volkswagen had agreed to share its MEB electric car chassis with Ford. Although, not for any cars aimed at the American market so far as we know. On July 12, the two companies announced a further deepening in their relationship designed to bring autonomous cars to the road.
VW CEO Herbert Diess, left, Ford CEO Jim Hackett, right. Photo courtesy Volkswagen
Volkswagen is putting its MEB chassis on the table. Ford is bringing its newly acquired Argo AI division to the party. CNBC reports that spending on self-driving vehicle technology is expected to reach $85 billion annually by 2025, according to a June study by AlixPartners.
Ford has already spent $1 billion to acquire Argo AI, which is focused on Level 4 autonomy, albeit in geofenced areas with well marked roads and in reasonably good weather conditions. Argo AI already has test fleets operating in five US cities, including Pittsburgh, Palo Alto, Detroit, Miami, and Washington, DC.
Credit: Volkswagen website
In a joint statement issued by the companies, Volkswagen says it “will invest $2.6 billion in Argo AI by committing $1 billion in funding and contributing its $1.6 billion Autonomous Intelligent Driving (AID) company.” That’s the automaker’s in-house autonomous vehicle development unit, which currently has 200 employees. VW will also purchase $500 million in Argo shares over the next three years.
Argo AI will now expand its operations to Europe to test its technology there. Its CEO, Bryan Salesky, said in a statement his company’s “technology could one day reach nearly every market in North America and Europe, applied across multiple brands and to a multitude of vehicle architectures.”
The joint announcement focused more on the autonomous side of things but the two companies are not ignoring the electric car side of the equation. They suggest they will share development of a fully electric vehicle that will come to market by 2023. If you think that is too timid an approach, you’re probably right. But Volkswagen will continue its push to get electric vehicles based on the MEB chassis to market sooner. The ID.3 passenger car is slated for production in about a year, and Ford is still pursuing its link-up with electric pickup truck maker Rivian.
Photo of Volkswagen ID concept vehicles in Long Beach, by Nicolas Zart | CleanTechnica.
If changes in the auto industry are coming too slowly for some, they are coming nonetheless. Altering the course of these massive companies is like trying to steer an oil tanker with a canoe paddle. Patience, grasshopper, and pray the world is still able to support human life by the time these wondrous vehicles of the future arrive.
About the Author
Steve Hanley Steve writes about the interface between technology and sustainability from his home in Rhode Island and anywhere else the Singularity may lead him. His motto is, "Life is not measured by how many breaths we take but by the number of moments that take our breath away!" You can follow him on Google + and on Twitter.
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July 12, 2019 at 10:14PM
What every Canadian investor needs to know today - The Globe and Mail
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Equities
Canada’s main stock exchange was hovering just below the break-even mark early Friday with gains in materials stocks on higher gold prices offset by declines in the health-care sector. On Wall Street, the Dow and S&P 500 both touched record highs shortly after the opening bell as optimism over a U.S. rate cut at the end of the month continues to buoy investor sentiment.
At 9:53 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was down 12.89 points, or 0.08 per cent, at 16,515.01. Health-care stocks were down 2.44 per cent, the biggest declines seen among the index’s six main sectors.
The Dow Jones Industrial Average rose 51.41 points, or 0.19 per cent, at the open to 27,139.49.
The S&P 500 opened higher by 3.45 points, or 0.12 per cent, at 3,003.36. The Nasdaq Composite gained 13.16 points, or 0.16 per cent, to 8,209.20 at the opening bell. Friday’s session marks the third time this week that the S&P has reached record levels.
Comments on Wednesday and Thursday from Federal Reserve chair Jerome Powell fuelled expectations that the powerful central bank would cut rates at its meeting later this month. However, a hotter reading on U.S. core inflation threw cold water on some predictions that a half-point reduction could still be in the offing. The Dow closed above 27,000 for the first time on Thursday while the S&P 500 touched another high as investors welcomed the prospect of lower rates.
"We’re trading in the green again on Friday, with U.S. futures pointing to fresh record highs on Wall Street after a satisfying testimony from Jerome Powell earlier in the week, Craig Erlam, senior market analyst with OANDA, said.
“Powell testified on the semi-annual monetary policy report and Wednesday and Thursday and, safe to say, he passed with flying colors as far as investors are concerned. His downbeat tone when reflecting on the economic outlook and inflation combined with his complete lack of desire to correct market expectations, despite a cut being 100 per cent priced in this month, gave investors exactly what they wanted."
Six major risks facing the markets (and what to do about them)
In corporate news, U.S.-traded shares of CannTrust Holdings Inc. were down about 10 per cent in Toronto after the Canadian cannabis company said it has implemented a “voluntary hold on sale and shipment of all cannabis products" while Health Canada investigates its manufacturing facilities. CannTrust has also formed a special committee to investigate after Health Canada launched a probe into illegal growing activities that saw the company cultivate marijuana in uncultivated rooms.
Elsewhere, investors got results from Montreal restaurant company MTY Food Group Inc. The company reported earnings per share of 76 cents, up from 64 cents a year earlier. Second-quarter system sales rose 12 per cent to $832.3-million. Same-store sales were up 0.6 per cent. Canadian same-store sales advanced 1.4 per cent. MTY shares were lower in early trading.
Aritzia Inc. was the biggest percentage gainer on the TSX Friday morning, with shares climbing 7 per cent. The gains came after the Vancouver-based company reported a 32-per-cent increase in profit in the latest quarter. Aritzia also said same-store sales rose 7.9 per cent, marking the nineteenth straight quarter of gains.
Friday’s analyst upgrades and downgrades
Overseas, European markets ticked higher. The pan-European STOXX 600 was up 0.17 per cent with resource stocks among the best performers after new trade figures from China suggested exports fell less than expected in June. The report said exports were down 1.3 per cent. The markets had been expecting a decline of about 2 per cent. Imports fell by 7.3 per cent. Britain’s FTSE 100 was up 0.11 per cent in afternoon trading. France’s CAC 40 gained 0.44 per cent. Germany’s DAX edged up 0.07 per cent.
In Asia, markets closed out the week higher. Japan’s Nikkei added 0.20 per cent. Hong Kong’s Hang Seng gained 0.14 per cent and the Shanghai Composite Index rose 0.44 per cent.
Commodities
Crude prices looked set for a weekly gain as producers in the Gulf of Mexico cut production amid an intensifying tropical story in the region and tensions surrounding Iran’s nuclear program continued to underpin prices. However, a report from the International Energy Agency released Friday put a ceiling on the day’s advance. That report forecast a global oil surplus.
So far this week, Brent prices have risen more than 4 per cent while West Texas Intermediate has gained more than 5 per cent. Both benchmarks posted losses the previous week.
Both were relatively steady Friday. The range on Brent is US$66.72 to US$67.29. The range on WTI is US$60.29 to US$60.74.
“Another large inventory drawdown this week has propelled WTI back above $60, before finding some resistance around US$61, which has been a notable level this year," Mr. Erlam said. "If it can break above here then it would be a very bullish signal, with the next notable level being around US$63.50-US$64.”
In other commodities, a weaker U.S. dollar helped bolster gold prices and put bullion on track for a second consecutive weekly gain.
Spot gold was up 0.2 per cent at US$1,406.80 per ounce. Gold has risen about 0.5 per cent so far this week. U.S. gold futures rose 0.1 per cent to US$1,407.60 an ounce.
“We have (China’s) trade data out this morning which disappointed mainly on the import side, suggesting the Chinese economy is still struggling,” Julius Baer analyst Carsten Menke, told Reuters.
“This provided fuel to the growth worries, so that’s why gold as a safe haven is benefiting.”
Currencies
The Canadian dollar was trading at its best levels in nearly nine months early Friday as its U.S. counterpart put in a weaker showing on global markets as investors anticipate lower interest rates south of the border later this month.
The loonie was trading in a day range so far of 76.47 US cents to 76.82 US cents. The upper end of that range marks the loonie’s highest since last October. The dollar has been bolstered this week by diverging policy positions by the Bank of Canada and the U.S. Federal Reserve, which is now expected to cut U.S. rates later this month. On Wednesday, the Bank of Canada held rates steady and gave no indication that easier monetary policy was in the immediate future.
The loonie was on track to rise 0.4 per cent for the week. It has climbed 4.7 per cent since the start of the 2019, the best performance among G10 currencies, according to Reutes.
On world markets, the U.S. dollar slipped for the third day on the week’s central bank news. Against a basket of other currencies, the dollar fell 0.1 per cent to 96.94 and was on track for its biggest weekly drop in three weeks.
“USD has drifted lower overnight, but remains off the post-FOMC lows against most currencies,” RBC chief currency strategist Adam Cole said.
“The commodity currencies are the main exception with another rally in risk pushing AUD (Australian dollar), NZD (New Zeland dollar) and CAD (Canadian dollar) higher. A deluge of Fed-speak late yesterday has not really moved the needle on US rate expectations.”
In bonds, U.S. Treasury yields ticked higher with the yield on the 10-year note up at 2.125 per cent. The yield on the 30-year note was also higher at 2.654 per cent.
More company news:
Luxury car maker Daimler cut its profit forecast for the fourth time in 13 months on Friday, as it set aside more money to cover a regulatory crackdown on diesel emissions and vehicle recalls related to Takata airbags. The German maker of Mercedes-Benz cars said it would make a second-quarter operating loss and that 2019 results would be “significantly” lower than last year, compared with its previous forecast for a broadly unchanged performance. It also blamed lower-than-predicted growth in automotive markets, as well as slower product ramp-ups that have affected availability this year.
WPP is selling a 60-per-cent stake in Kantar to private equity firm Bain Capital, valuing the data analytics business at about $4 billion and giving the British owner of agencies including Ogilvy and Wunderman Thompson funds to cut debt and rebuild. WPP is restructuring following several profit warnings and the abrupt departure of its founder and former chief executive Martin Sorrell over alleged misconduct, which he denies.
Campbell Soup Co said it would sell its Danish unit Kelsen Group to an affiliate of Nutella maker Ferrero SpA for US$300-million. Belgian holding company CTH Invest, a Ferrero affiliate, said it would take over Kelsen’s two production facilities in Denmark and add fine biscuits assortments to its portfolio with the deal.
Colgate-Palmolive Co said on Thursday it would buy the skin care unit of France’s Laboratoires Filorga Cosmétiques for US$1.69-billion, as the consumer goods company bolsters its personal care business.
Economic news
The U.S. Labor Department says its producer price index for final demand edged up 0.1 per cent last month after a similar gain in May. In the 12 months through June, the PPI rose 1.7 per cent, the smallest gain since January 2017, slowing further from a 1.8 per cent increase in May. Economists polled by Reuters had forecast the PPI unchanged in June and increasing 1.6 per cent on a year-on-year basis.
With Reuters and The Canadian Press
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July 12, 2019 at 06:21PM
Dow at record above 27,000 as U.S. rate cuts look likely - CBC News
The Dow Jones industrial stock index hit record territory above 27,000 points Thursday, as U.S. Federal Reserve chair Jerome Powell reiterated the central bank is prepared to cut interest rates to support the economy.
In testimony before the Senate banking committee on Thursday, Powell pointed to the U.S.-China trade war and signs of a global slowdown as reasons the Fed might have to cut rates at the end of July.
The Dow closed at 27,088, up 227 points, mainly on the strength of tech stocks.
The broader Standard & Poor also flirted with record territory above 3,000, before closing at 2,999, up from 2,993 at the end of Wednesday.
The tech-heavy Nasdaq closed down 6.48 points after sinking from near its technical high. Stock indexes around the world rose Wednesday on Powell's remarks to the House of Representatives, hinting at lower rates, and he repeated the message Thursday.
Stocks were briefly knocked lower by a tweet from U.S. President Donald Trump, accusing China of "letting us down" by not promptly buying more U.S. farm products.
"They have not been buying the agricultural products from our great Farmers that they said they would," Trump said on Twitter. "Hopefully, they will start soon."
The U.S. consumer price index, released by the Labour Department on Thursday, increased 1.6 per cent in June from a year earlier.
Cheaper gas prices were offset by higher rents and auto costs, but the key core inflation rate was an annualized 2.1 per cent, close to the Fed target.
Federal Reserve policymakers have cited low inflation readings as a justification for potentially lowering short-term interest rates, but the relatively strong core inflation number may mean slower rate cuts than the market is anticipating, analysts say.
"With the markets at 27,000 on the Dow and 3,000 on the S&P, they're baking in that a deal gets done with China, that the Fed cuts rates and remains dovish, and then earnings and guidance come in better than expected," said Sean Lynch, managing director of equities at Wells Fargo Private Bank. "We get a hiccup in any one of those, you'll see a little bit of a pullback in the market."
The Bank of Canada announced its decision Wednesday to maintain its benchmark rate unchanged at 1.75 per cent. That could mean the Fed rate, currently 2.5 per cent, could move closer to Canada's key rate.
TSX falls
In Toronto, stock prices slid 35 points to close at 16,529, mainly because of lower gold prices triggered by the U.S. inflation news.
The energy sector climbed after oil prices hit a six-week high because oil rigs in the Gulf of Mexico were evacuated ahead of a storm.
An incident with a British tanker in the Middle East highlighted tensions in the region, moving the price for West Texas Intermediate crude to $60.39 US a barrel.
The TSX has been a laggard compared to U.S. markets, says Barry Schwartz, portfolio manager for Baskin Wealth.
"The U.S. market has outperformed most every single other index over the last 12 years coming out of the financial crisis," he told CBC News.
"Like them or hate them, they have some of the greatest companies in technology and that's what's driving their markets higher. And for good reason — the profits are enormous."
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July 11, 2019 at 10:54PM
23 fast-food french fries, ranked (for National French Fry day, of course) - NJ.com
By Jeremy Schneider | NJ Advance Media for NJ.com | Posted July 12, 2019 at 09:30 AM | Updated July 12, 2019 at 11:02 AM
https://www.nj.com/expo/life-and-culture/g66l-2019/07/5ea6843c921686/23-fastfood-french-fries-ranked-for-national-french-fry-day-of-course.html
2019-07-12 13:32:21Z
52780330585023
Ford confirms it will build a car using VW's EV architecture - Engadget
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What was once rumored is now official: Ford is going to use VW's electric car platform, called MEB, for some of its own battery-powered vehicles. The announcement builds on the "global alliance" that the pair announced back in January. Ford says it will use VW's MEB to build "at least one high-volume fully electric vehicle" in Europe "starting in 2023." The MEB framework is already being used in a variety of yet-to-be-released EVs by Volkswagen and its subsidiary brands. Ford is the first external company beyond e.GO Mobile AG, a German EV startup, to use MEB, however.
Ford hopes to sell more than 600,000 vehicles using the MEB framework over a six-year period. A second model -- again, designed for Europe -- is under discussion at the company. "This supports Ford's European strategy, which involves continuing to play on its strengths – including commercial vehicles, compelling crossovers and imported iconic vehicles such as Mustang and Explorer," the company said in a press release. VW, meanwhile, has been working on MEB since 2016 and expects to build 15 million cars using the platform in the next decade. These include the camper-inspired I.D. Buzz and the still-under-wraps ID.3 hatchback.
In addition, VW is pouring $2.6 billion into Argo AI, a self-driving startup based in Pittsburgh. Ford has already invested in the company -- today's announcement means both automakers have an equal stake and, combined, a "substantial majority." Both companies plan to implement Argo AI's system into some of their future cars. Together, that should give Argo AI plenty of data to finesse its system and attract more automaker customers. Ford and VW say they will independently design "purpose-built vehicles to support the distinct people and goods movement initiatives of both companies." The specifics are unclear, but "purpose-built" suggests both companies are interested in driverless delivery and taxi vehicles.
Watch out, Tesla?
https://www.engadget.com/2019/07/12/ford-vw-electric-meb-argo-ai-cars/
2019-07-12 13:14:25Z
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