Honda forecasts 6% rise in annual profit on Europe factory revamp

How to set Google to delete the information it saves about what…Google has a new feature that will automatically delete the data it has on how you use its apps and what you do on the web. Tech Guideread more


How to set Google to delete the information it saves about what…Google has a new feature that will automatically delete the data it has on how you use its apps and what you do on the web. Tech Guideread more
Honda forecasts 6% rise in annual profit on Europe factory revamp Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: lauren feiner
Keywords: news, cnbc, companies, rise, guideread, forecasts, annual, delete, information, data, set, factory, feature, saves, whatgoogle, europe, honda, webtech, revamp, google, profit


Honda forecasts 6% rise in annual profit on Europe factory revamp

How to set Google to delete the information it saves about what…

Google has a new feature that will automatically delete the data it has on how you use its apps and what you do on the web.

Tech Guide

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Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: lauren feiner
Keywords: news, cnbc, companies, rise, guideread, forecasts, annual, delete, information, data, set, factory, feature, saves, whatgoogle, europe, honda, webtech, revamp, google, profit


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We went inside Tesla’s Gigafactory. Here’s what it looked like

CNBC went inside the Gigafactory to view the production process and understand how the company’s first fully built factory will serve as the model for what eventually could be a dozen massive Tesla factories globally. The $4.5 billion factory, located outside Reno, Nevada , is where Tesla and Panasonic , its principal partner, produce battery packs for Tesla’s Model 3 sedan, along with energy storage products and more. Elon Musk has called Tesla’s Gigafactory the “machine that builds the machine


CNBC went inside the Gigafactory to view the production process and understand how the company’s first fully built factory will serve as the model for what eventually could be a dozen massive Tesla factories globally. The $4.5 billion factory, located outside Reno, Nevada , is where Tesla and Panasonic , its principal partner, produce battery packs for Tesla’s Model 3 sedan, along with energy storage products and more. Elon Musk has called Tesla’s Gigafactory the “machine that builds the machine
We went inside Tesla’s Gigafactory. Here’s what it looked like Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: uptin saiidi
Keywords: news, cnbc, companies, transition, tesla, heres, looked, build, teslas, went, gigafactory, panasonic, model, factory, inside, battery, really


We went inside Tesla's Gigafactory. Here's what it looked like

“In order to transition the world to sustainable energy, we really needed to build this big, build this boldly and really build as many battery cells as we possibly could to really accelerate this transition,” Chris Lister, Tesla’s vice president for operations, told CNBC.

CNBC went inside the Gigafactory to view the production process and understand how the company’s first fully built factory will serve as the model for what eventually could be a dozen massive Tesla factories globally.

The $4.5 billion factory, located outside Reno, Nevada , is where Tesla and Panasonic , its principal partner, produce battery packs for Tesla’s Model 3 sedan, along with energy storage products and more.

Elon Musk has called Tesla’s Gigafactory the “machine that builds the machine.”

Only about 30% of the factory is currently built out, but upon completion it could be the world’s largest building by footprint.

The partnership between Tesla and Panasonic has come under strain recently.

Last month, Tesla, denied reports that it was placing Gigafactory expansion plans on hold. Meanwhile, Musk claimed Panasonic was unable to meet production goals for battery cell output.

Tesla, meanwhile, said U.S. orders for Model 3 had outpaced its available output in the first quarter.

The Gigafactory, which is open around the clock, currently has 7,000 employees.

Yet humans were few and far between during CNBC’s portion of the tour as automation was highly apparent, with one section of the facility boasting a 90% automated process, according to Lister.

Still, he said the company has had to back off on automation in some cases, in favor of human labor.

“It’s easier to, you know, grab things like hoses out of midair and attach them together as a person looking at those, as opposed to trying to get a robot to do that,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: uptin saiidi
Keywords: news, cnbc, companies, transition, tesla, heres, looked, build, teslas, went, gigafactory, panasonic, model, factory, inside, battery, really


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Europe lower after comments from Fed’s Powell; factory activity contracts; VW up 5%

The S&P just did something it hasn’t done in three decadesThe S&P 500 has had its best start to the year in 32 years, but market watchers Katie Stockton and Gina Sanchez say proceed with caution. Trading Nationread more


The S&P just did something it hasn’t done in three decadesThe S&P 500 has had its best start to the year in 32 years, but market watchers Katie Stockton and Gina Sanchez say proceed with caution. Trading Nationread more
Europe lower after comments from Fed’s Powell; factory activity contracts; VW up 5% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: matt clinch
Keywords: news, cnbc, companies, contracts, feds, sp, vw, europe, market, katie, lower, start, say, activity, powell, proceed, nationread, factory, comments, watchers, stockton, sanchez


Europe lower after comments from Fed's Powell; factory activity contracts; VW up 5%

The S&P just did something it hasn’t done in three decades

The S&P 500 has had its best start to the year in 32 years, but market watchers Katie Stockton and Gina Sanchez say proceed with caution.

Trading Nation

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Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: matt clinch
Keywords: news, cnbc, companies, contracts, feds, sp, vw, europe, market, katie, lower, start, say, activity, powell, proceed, nationread, factory, comments, watchers, stockton, sanchez


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Tesla rolls out employee loan benefit as factory workers cope with unpredictable hours

Tesla has rolled out a new benefit for its workers: employee loans, facilitated through the London-based financial tech start-up, Salary Finance, and funded via its partner Axos Bank. The electric vehicle maker does not make money when employees take loans through the service, according to the Salary Finance website for Tesla employees. Three current employees told CNBC that they are happy to have another financial benefit, but view employee loans as a band-aid solution. In recent weeks, for exa


Tesla has rolled out a new benefit for its workers: employee loans, facilitated through the London-based financial tech start-up, Salary Finance, and funded via its partner Axos Bank. The electric vehicle maker does not make money when employees take loans through the service, according to the Salary Finance website for Tesla employees. Three current employees told CNBC that they are happy to have another financial benefit, but view employee loans as a band-aid solution. In recent weeks, for exa
Tesla rolls out employee loan benefit as factory workers cope with unpredictable hours Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: lora kolodny
Keywords: news, cnbc, companies, company, rolls, employee, financial, loans, unpredictable, factory, cope, loan, tesla, workers, shares, salary, raises, employees, benefit, hours


Tesla rolls out employee loan benefit as factory workers cope with unpredictable hours

Tesla has rolled out a new benefit for its workers: employee loans, facilitated through the London-based financial tech start-up, Salary Finance, and funded via its partner Axos Bank.

In correspondence distributed to Tesla employees and seen by CNBC, the companies said that workers could use the new benefit to borrow money at relatively affordable rates and pay it back directly out of their paychecks.

Typically, Salary Finance lets workers borrow up to 20% of their salary and pay it back at rates under 5%. The company spun out of Blenheim Chalcot in London, and is venture-backed by that firm along with insurance giants Legal & General.

By offering a “financial well-being” benefit, Tesla gives active employees a way to handle their debt and expenses without turning to higher-cost alternatives like a 401k loan, credit cards with a high annual percentage rate, or traditional payday loans. That takes some pressure off those who would leave the company in search of higher wages, and could potentially stem attrition.

The electric vehicle maker does not make money when employees take loans through the service, according to the Salary Finance website for Tesla employees.

Three current employees told CNBC that they are happy to have another financial benefit, but view employee loans as a band-aid solution. They said they would prefer more predictable income from a set, 40-hour work week, or if possible, better wages and meaningful raises. These people declined to be named because the company does not authorize them to talk to the press.

Six current and former employees at the Tesla Gigafactory in Sparks, Nevada, and car plant in Fremont, California, said raises and bonuses typically don’t cover cost-of-living increases.

Several current and former employees said annual raises are typically capped around two percent for the people who are rated among the very best performers by their managers during official reviews. One former Tesla employee described receiving an annual raise of less than one percent and three shares of stock as a bonus after a year of good but not spectacular performance.

Schedules are also irregular, which affects hourly employees and contractors.

In recent weeks, for example, Tesla sent workers home early from their shifts after glitches at the Fremont car plant. In the production line under the tent at the site, conveyors have broken down at the point where cars are carried forward for “battery marriage,” where workers install heavy battery packs into the Model 3 sedans and join two halves of the cars together. Inside the main building, there have been troubles with camera calibration, where employees test the in-vehicle cameras on a Model 3 to make sure they are working properly in concert with sensors to enable Tesla’s semi-autonomous-driving features.

Tesla also told some workers not to come in to work at the Gigafactory during what employees described as unexpected maintenance and cleaning.

Tesla declined to comment.

On Thursday, the company announced in a filing that it’s looking to raise up to $2 billion in convertible notes and shares, with CEO Elon Musk committing to buy $10 million in shares in the offering. Tesla shares are up almost 3% in mid-day trading.

WATCH: Tesla rebuild rebel is leveraging his YouTube fame to open a garage


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: lora kolodny
Keywords: news, cnbc, companies, company, rolls, employee, financial, loans, unpredictable, factory, cope, loan, tesla, workers, shares, salary, raises, employees, benefit, hours


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Tesla rolls out employee loan benefit as factory workers cope with unpredictable hours

Tesla has rolled out a new benefit for its workers: employee loans, facilitated through the London-based financial tech start-up, Salary Finance, and funded via its partner Axos Bank. The electric vehicle maker does not make money when employees take loans through the service, according to the Salary Finance website for Tesla employees. Three current employees told CNBC that they are happy to have another financial benefit, but view employee loans as a band-aid solution. In recent weeks, for exa


Tesla has rolled out a new benefit for its workers: employee loans, facilitated through the London-based financial tech start-up, Salary Finance, and funded via its partner Axos Bank. The electric vehicle maker does not make money when employees take loans through the service, according to the Salary Finance website for Tesla employees. Three current employees told CNBC that they are happy to have another financial benefit, but view employee loans as a band-aid solution. In recent weeks, for exa
Tesla rolls out employee loan benefit as factory workers cope with unpredictable hours Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: lora kolodny
Keywords: news, cnbc, companies, company, rolls, employee, financial, loans, unpredictable, factory, cope, loan, tesla, workers, shares, salary, raises, employees, benefit, hours


Tesla rolls out employee loan benefit as factory workers cope with unpredictable hours

Tesla has rolled out a new benefit for its workers: employee loans, facilitated through the London-based financial tech start-up, Salary Finance, and funded via its partner Axos Bank.

In correspondence distributed to Tesla employees and seen by CNBC, the companies said that workers could use the new benefit to borrow money at relatively affordable rates and pay it back directly out of their paychecks.

Typically, Salary Finance lets workers borrow up to 20% of their salary and pay it back at rates under 5%. The company spun out of Blenheim Chalcot in London, and is venture-backed by that firm along with insurance giants Legal & General.

By offering a “financial well-being” benefit, Tesla gives active employees a way to handle their debt and expenses without turning to higher-cost alternatives like a 401k loan, credit cards with a high annual percentage rate, or traditional payday loans. That takes some pressure off those who would leave the company in search of higher wages, and could potentially stem attrition.

The electric vehicle maker does not make money when employees take loans through the service, according to the Salary Finance website for Tesla employees.

Three current employees told CNBC that they are happy to have another financial benefit, but view employee loans as a band-aid solution. They said they would prefer more predictable income from a set, 40-hour work week, or if possible, better wages and meaningful raises. These people declined to be named because the company does not authorize them to talk to the press.

Six current and former employees at the Tesla Gigafactory in Sparks, Nevada, and car plant in Fremont, California, said raises and bonuses typically don’t cover cost-of-living increases.

Several current and former employees said annual raises are typically capped around two percent for the people who are rated among the very best performers by their managers during official reviews. One former Tesla employee described receiving an annual raise of less than one percent and three shares of stock as a bonus after a year of good but not spectacular performance.

Schedules are also irregular, which affects hourly employees and contractors.

In recent weeks, for example, Tesla sent workers home early from their shifts after glitches at the Fremont car plant. In the production line under the tent at the site, conveyors have broken down at the point where cars are carried forward for “battery marriage,” where workers install heavy battery packs into the Model 3 sedans and join two halves of the cars together. Inside the main building, there have been troubles with camera calibration, where employees test the in-vehicle cameras on a Model 3 to make sure they are working properly in concert with sensors to enable Tesla’s semi-autonomous-driving features.

Tesla also told some workers not to come in to work at the Gigafactory during what employees described as unexpected maintenance and cleaning.

Tesla declined to comment.

On Thursday, the company announced in a filing that it’s looking to raise up to $2 billion in convertible notes and shares, with CEO Elon Musk committing to buy $10 million in shares in the offering. Tesla shares are up almost 3% in mid-day trading.

WATCH: Tesla rebuild rebel is leveraging his YouTube fame to open a garage


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: lora kolodny
Keywords: news, cnbc, companies, company, rolls, employee, financial, loans, unpredictable, factory, cope, loan, tesla, workers, shares, salary, raises, employees, benefit, hours


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Chinese factory activity grew slower than expected, widely watched indicators show

China’s manufacturing sector grew slower than expected in April, according to data released on Tuesday. Results of the private Caixin survey came after China’s National Bureau of Statistics released official manufacturing PMI for April, which fell to 50.1 from 50.5 in March. The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises, while the Caixin indicator has a bigger mix of small- and medium-sized firms. Tommy Xie, head of Greater China researc


China’s manufacturing sector grew slower than expected in April, according to data released on Tuesday. Results of the private Caixin survey came after China’s National Bureau of Statistics released official manufacturing PMI for April, which fell to 50.1 from 50.5 in March. The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises, while the Caixin indicator has a bigger mix of small- and medium-sized firms. Tommy Xie, head of Greater China researc
Chinese factory activity grew slower than expected, widely watched indicators show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: yen nee lee
Keywords: news, cnbc, companies, factory, watched, slower, activity, china, grew, dollar, chinese, economic, trade, survey, indicators, widely, data, expected, official, manufacturing, pmi, released


Chinese factory activity grew slower than expected, widely watched indicators show

China’s manufacturing sector grew slower than expected in April, according to data released on Tuesday.

The Caixin/Markit factory Purchasing Managers’ Index for April was 50.2 — lower than the March reading of 50.8, and missing the 51 projected by analysts in a Reuters poll.

Results of the private Caixin survey came after China’s National Bureau of Statistics released official manufacturing PMI for April, which fell to 50.1 from 50.5 in March. Analysts polled by Reuters had expected the indicator to stay at 50.5.

PMI readings above 50 indicate expansion, while those below that signal contraction. The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises, while the Caixin indicator has a bigger mix of small- and medium-sized firms.

The Australian dollar fell by 0.13% against the U.S. dollar in afternoon trade in Asia. Following the release of the manufacturing numbers, the Aussie dollar saw a sharp drop of about 0.2%, reversing earlier gains. The Australian dollar is often seen as an investment proxy for Chinese economic prospects. China is Australia’s largest trading partner, according to the Department of Foreign Affairs and Trade in Australia.

Tommy Xie, head of Greater China research at Singaporean bank OCBC, said the “slightly softer” official PMI data can be attributed to a build-up in inventories in the previous month. He explained that many companies increased production in March to take advantage of the value-added tax cuts that went into effect in early-April.

“Overall, above 50 is still a decent number,” Xie told CNBC’s “Street Signs” before the release of the Caixin/Markit data.

The PMI is a survey of businesses about the operating environment. Such data offer a first glimpse into what’s happening in an economy, as they are usually among the first major economic indicators released each month.

For China, the PMI is among economic indicators that investors globally watch closely for signs of trouble amid domestic headwinds and the ongoing U.S.-China trade negotiations.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: yen nee lee
Keywords: news, cnbc, companies, factory, watched, slower, activity, china, grew, dollar, chinese, economic, trade, survey, indicators, widely, data, expected, official, manufacturing, pmi, released


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Foxconn and Wisconsin are renegotiating their massive factory deal, governor’s letter reveals

Wisconsin Governor Tony Evers says the state is renegotiating its contract with Taiwanese contract manufacturer Foxconn to build a massive LCD plant in the state, after Foxconn approached state officials to propose changes in the deal. Scott Walker, the company announced plans for a $10 billion manufacturing complex outside Racine, Wisconsin, with the promise of 13,000 new jobs. Since then, the program appears to have stalled and the company has announced changes in the product mix at the facili


Wisconsin Governor Tony Evers says the state is renegotiating its contract with Taiwanese contract manufacturer Foxconn to build a massive LCD plant in the state, after Foxconn approached state officials to propose changes in the deal. Scott Walker, the company announced plans for a $10 billion manufacturing complex outside Racine, Wisconsin, with the promise of 13,000 new jobs. Since then, the program appears to have stalled and the company has announced changes in the product mix at the facili
Foxconn and Wisconsin are renegotiating their massive factory deal, governor’s letter reveals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: scott cohn, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, plans, wrote, evers, company, factory, foxconn, letter, woo, massive, renegotiating, wisconsin, changes, deal, announced, state, governors, reveals


Foxconn and Wisconsin are renegotiating their massive factory deal, governor's letter reveals

Wisconsin Governor Tony Evers says the state is renegotiating its contract with Taiwanese contract manufacturer Foxconn to build a massive LCD plant in the state, after Foxconn approached state officials to propose changes in the deal.

The disclosure comes in a letter from Evers to Foxconn executive Louis Woo, a special assistant to Chairman Terry Gou and the company’s point person on the project.

In 2017, amid great fanfare including a White House ceremony including President Trump, Foxconn officials and then-Wisconsin Gov. Scott Walker, the company announced plans for a $10 billion manufacturing complex outside Racine, Wisconsin, with the promise of 13,000 new jobs. In return, the state promised $4.5 billion in incentives, as well as infrastructure improvements in the state.

Since then, the program appears to have stalled and the company has announced changes in the product mix at the facility. After Woo suggested earlier this year that the company was scaling back its plans, the President reportedly intervened, and the company announced plans to break ground later this year.

Republicans, who control the state legislature, accused Evers, a Democrat, of sabotaging the deal.

But in his letter, Evers says Woo talked to him — as well as State Assembly Speaker Robin Vos and Senate Majority Leader Scott Fitzgerald — about unspecified changes to the deal at a meeting in March.

“To my knowledge, this was the first time either Foxconn or the State of Wisconsin has mentioned amending or changing the agreement approved on 2017,” Evers wrote about the March meeting.

In response, Evers wrote, the state is identifying areas that “will enable greater flexibility and transparency as the project continues to evolve.”

A spokesperson for Foxconn was not immediately available for comment.

WATCH: Foxconn’s plans for Wisconsin are slow-going


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: scott cohn, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, plans, wrote, evers, company, factory, foxconn, letter, woo, massive, renegotiating, wisconsin, changes, deal, announced, state, governors, reveals


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Foxconn and Wisconsin are renegotiating their massive factory deal, governor’s letter reveals

Wisconsin Governor Tony Evers says the state is renegotiating its contract with Taiwanese contract manufacturer Foxconn to build a massive LCD plant in the state, after Foxconn approached state officials to propose changes in the deal. Scott Walker, the company announced plans for a $10 billion manufacturing complex outside Racine, Wisconsin, with the promise of 13,000 new jobs. Since then, the program appears to have stalled and the company has announced changes in the product mix at the facili


Wisconsin Governor Tony Evers says the state is renegotiating its contract with Taiwanese contract manufacturer Foxconn to build a massive LCD plant in the state, after Foxconn approached state officials to propose changes in the deal. Scott Walker, the company announced plans for a $10 billion manufacturing complex outside Racine, Wisconsin, with the promise of 13,000 new jobs. Since then, the program appears to have stalled and the company has announced changes in the product mix at the facili
Foxconn and Wisconsin are renegotiating their massive factory deal, governor’s letter reveals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: scott cohn, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, plans, wrote, evers, company, factory, foxconn, letter, woo, massive, renegotiating, wisconsin, changes, deal, announced, state, governors, reveals


Foxconn and Wisconsin are renegotiating their massive factory deal, governor's letter reveals

Wisconsin Governor Tony Evers says the state is renegotiating its contract with Taiwanese contract manufacturer Foxconn to build a massive LCD plant in the state, after Foxconn approached state officials to propose changes in the deal.

The disclosure comes in a letter from Evers to Foxconn executive Louis Woo, a special assistant to Chairman Terry Gou and the company’s point person on the project.

In 2017, amid great fanfare including a White House ceremony including President Trump, Foxconn officials and then-Wisconsin Gov. Scott Walker, the company announced plans for a $10 billion manufacturing complex outside Racine, Wisconsin, with the promise of 13,000 new jobs. In return, the state promised $4.5 billion in incentives, as well as infrastructure improvements in the state.

Since then, the program appears to have stalled and the company has announced changes in the product mix at the facility. After Woo suggested earlier this year that the company was scaling back its plans, the President reportedly intervened, and the company announced plans to break ground later this year.

Republicans, who control the state legislature, accused Evers, a Democrat, of sabotaging the deal.

But in his letter, Evers says Woo talked to him — as well as State Assembly Speaker Robin Vos and Senate Majority Leader Scott Fitzgerald — about unspecified changes to the deal at a meeting in March.

“To my knowledge, this was the first time either Foxconn or the State of Wisconsin has mentioned amending or changing the agreement approved on 2017,” Evers wrote about the March meeting.

In response, Evers wrote, the state is identifying areas that “will enable greater flexibility and transparency as the project continues to evolve.”

A spokesperson for Foxconn was not immediately available for comment.

WATCH: Foxconn’s plans for Wisconsin are slow-going


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: scott cohn, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, plans, wrote, evers, company, factory, foxconn, letter, woo, massive, renegotiating, wisconsin, changes, deal, announced, state, governors, reveals


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China’s factory activity unexpectedly grows in March, a private survey shows

Manufacturing activity in China expanded unexpectedly in March at its fastest pace in eight months, a private survey showed on Monday. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. Despite the strength of China’s March manufacturing data, there are still reasons to be cautious about the country’s near-term outlook, said Julian Evans-Pritchard, senior China economist at Capital Economics. “On that note, the official PMI


Manufacturing activity in China expanded unexpectedly in March at its fastest pace in eight months, a private survey showed on Monday. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. Despite the strength of China’s March manufacturing data, there are still reasons to be cautious about the country’s near-term outlook, said Julian Evans-Pritchard, senior China economist at Capital Economics. “On that note, the official PMI
China’s factory activity unexpectedly grows in March, a private survey shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: huileng tan, str – afp – getty images
Keywords: news, cnbc, companies, sector, unexpectedly, trade, activity, private, data, grows, pmi, talks, chinas, factory, manufacturing, official, rose, survey, shows


China's factory activity unexpectedly grows in March, a private survey shows

Manufacturing activity in China expanded unexpectedly in March at its fastest pace in eight months, a private survey showed on Monday.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 50.8 for March. Analysts had expected it to come in at 49.9 for a second month, according to a Reuters poll of economists.

A reading below 50 signals contraction, while a reading above that level indicates expansion.

New orders climbed to their highest level in four months, while the index for new export orders returned to expansionary territory, “showing that both domestic and external demand rebounded moderately,” wrote Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin.

Markit and Caixin said in a joint press release that staffing levels at factories rose in March to mark their first expansion since October 2013. Some firms also hired additional workers to support greater production and new business developments, they added.

“Overall, with a more relaxed financing environment, government efforts to bail out the private sector and positive progress in Sino-U.S. trade talks, the situation across the manufacturing sector recovered in March,” said Zhong.

Results of the private survey came after data on Sunday showed the official Purchasing Managers’ Index rose to 50.5 in March from February’s three-year low of 49.2. It marked the first expansion in four months, according to data released by China’s National Bureau of Statistics.

The manufacturing numbers come amid ongoing tariff talks between the U.S. and China aimed at resolving their trade differences. High-level trade negotiations between the two economic powerhouses are set to resume in Washington this week following last week’s talks in Beijing.

The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. It is closely watched as an alternative to the official PMI.

Despite the strength of China’s March manufacturing data, there are still reasons to be cautious about the country’s near-term outlook, said Julian Evans-Pritchard, senior China economist at Capital Economics.

The breakdown of both the official and private PMI indexes suggests a slight recovery in external demand, with most of the improvement coming from a pick-up in domestic demand, wrote Evans-Pritchard in a note on Monday.

“We suspect that this was driven by stronger fiscal support since local governments have stepped up bond issuance recently,” he added. “On that note, the official PMI for the construction sector rose last month, consistent with an acceleration in infrastructure spending.”

China’s growth could still weaken in the near-term as indicated by recent credit growth data and a sharp decline in land sales purchases, Evans-Pritchard said.

Results of the Caixin PMI survey for the services sector are due to be released on Wednesday.

— Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: huileng tan, str – afp – getty images
Keywords: news, cnbc, companies, sector, unexpectedly, trade, activity, private, data, grows, pmi, talks, chinas, factory, manufacturing, official, rose, survey, shows


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Ford to build new factory in Michigan for autonomous vehicles

Ford is building a new plant in Michigan for autonomous vehicles as the company realigns some factories to focus on its future lineup of self-driving and electric cars. The new facility, scheduled to open in the next two years, will take new commercial-grade hybrid models and incorporate the self-driving technology needed to turn them into autonomous vehicles. “This facility will be about more than just putting the brains into these autonomous vehicles,” said Joe Hinrichs, Ford’s president of gl


Ford is building a new plant in Michigan for autonomous vehicles as the company realigns some factories to focus on its future lineup of self-driving and electric cars. The new facility, scheduled to open in the next two years, will take new commercial-grade hybrid models and incorporate the self-driving technology needed to turn them into autonomous vehicles. “This facility will be about more than just putting the brains into these autonomous vehicles,” said Joe Hinrichs, Ford’s president of gl
Ford to build new factory in Michigan for autonomous vehicles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: phil lebeau, bill pugliano, getty images
Keywords: news, cnbc, companies, vehicles, ford, technology, fords, autonomous, build, factory, plant, michigan, electric, selfdriving, plan


Ford to build new factory in Michigan for autonomous vehicles

Ford is building a new plant in Michigan for autonomous vehicles as the company realigns some factories to focus on its future lineup of self-driving and electric cars.

The new facility, scheduled to open in the next two years, will take new commercial-grade hybrid models and incorporate the self-driving technology needed to turn them into autonomous vehicles. Ford is still considering where to build the AV finishing center and has not said how many people will work there.

“This facility will be about more than just putting the brains into these autonomous vehicles,” said Joe Hinrichs, Ford’s president of global operations. “We will use the AV production center to upgrade the interiors and add the technology customers will want for a particular self-driving model.”

The new autonomous vehicle, or AV, facility is part of a $900 million investment Ford announced in 2017 to restructure its manufacturing footprint in Michigan. Ultimately, it’s expected to create up to 900 new jobs by 2023. That includes adding a second shift in 2023 at the company’s final assembly plant in Flat Rock, Michigan, to build an all-electric vehicle the company has yet to announce. That 2023 model is part of Ford’s plan increase sales of electric vehicles, including a brand-new electric SUV scheduled to roll out next year. It will be built at a Ford plant in Mexico.

Ford’s development of autonomous and electric vehicles is at the core of CEO Jim Hackett’s plan to remake the automaker. Since taking over as chief executive in 2017, Hackett has been criticized by analysts for moving too slow to reposition Ford as the auto industry shifts to new technology and focuses more attention on electric vehicles. Earlier this year, Ford announced a partnership with Volkswagen to share the costs of developing AVs and EVs.

Hinrichs believes Ford’s plan to expand production of electric vehicles in Michigan four years from now will be well-timed for the changing tastes of car buyers. “We see more consumers interested in electric vehicles. Plus the capabilities of the batteries and the technology is getting better,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: phil lebeau, bill pugliano, getty images
Keywords: news, cnbc, companies, vehicles, ford, technology, fords, autonomous, build, factory, plant, michigan, electric, selfdriving, plan


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