Refinery explosion and fire should drive up gasoline prices in some locations

The pressure on gasoline prices also comes at a volatile time for oil prices, up more than 9% this week, after plummeting about 20% this spring. Wells Fargo analysts said East Coast fuel prices could rise by 3 to 5 cents a gallon, based on incremental import costs. RBOB futures represent gasoline prices in the New York Harbor, which is supplied by the Philadelphia refinery, among others. The Colonial pipeline brings gasoline from the Gulf Coast up the East Coast to the New York area market. Kloz


The pressure on gasoline prices also comes at a volatile time for oil prices, up more than 9% this week, after plummeting about 20% this spring. Wells Fargo analysts said East Coast fuel prices could rise by 3 to 5 cents a gallon, based on incremental import costs. RBOB futures represent gasoline prices in the New York Harbor, which is supplied by the Philadelphia refinery, among others. The Colonial pipeline brings gasoline from the Gulf Coast up the East Coast to the New York area market. Kloz
Refinery explosion and fire should drive up gasoline prices in some locations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: patti domm
Keywords: news, cnbc, companies, gallon, coast, gasoline, refining, fuel, price, explosion, refinery, cents, drive, locations, prices, east


Refinery explosion and fire should drive up gasoline prices in some locations

Gas prices at the pump should rise for East Coast drivers after a massive explosion Friday affected operations at a Philadelphia refining complex responsible for as much as 27% of the region’s fuel production

How much prices jump depends on the extent of damage and the length of the outage, which coincided with peak summer driving. For now, analysts are expecting to see a jump of about 5 cents per gallon for drivers in the mid-Atlantic region, which is served by Philadelphia Energy Solutions refinery, the largest and oldest on the East Coast.

“This refining outage couldn’t come at a worse time for consumers, given the backdrop of the tensions with Iran only exasperating the rising price environment for oil,” said John Kilduff, partner with Again Capital.

The refining company said the cause of several blasts at one of its alkylation units early Friday is under investigation, and the refinery is operating at a reduced rate. Alkylation units provide octane for making premium gasoline.

The explosion occurred just as U.S. gasoline demand hit an all-time high last week. The pressure on gasoline prices also comes at a volatile time for oil prices, up more than 9% this week, after plummeting about 20% this spring.

Wells Fargo analysts said East Coast fuel prices could rise by 3 to 5 cents a gallon, based on incremental import costs. For now, gasoline supply is sufficient in the U.S., so the main price impact should not spread beyond the region.

Analysts said the impact could remain at several cents per gallon in the mid-Atlantic region, unless there are other disruptions or the outage is extended. The national average for unleaded gasoline at the pump was $2.66 per gallon Friday, but it has been slightly higher in Pennsylvania, at $2.82; New Jersey, $2.75 and New York, $2.85, according to AAA.

Tom Kloza, global head of energy analysis at Oil Price Information Service, said he does not believe the outage will be a major problem for the U.S. gasoline market, which is well supplied — even with a number of Gulf Coast refineries still in extended maintenance.

He said the Philadelphia refinery is actually two refineries — one a legacy Atlantic Richfield refinery and the other a legacy Gulf operation, and it appears only one part may be damaged, leaving the other to continue operations.

It will be important to see how extensive the damage is and whether it extends beyond the alkylation unit. “It’s a key element in hitting the octane threshold. It could hamstring their ability to make premium fuel,” he said.

He said gas prices, which have been falling, could instead now find support. “Because of Iran and higher crude prices, I suspect we’ll see higher RBOB prices. Instead of falling 10 to 15 cents, it could go up 5 cents a gallon,” he said. RBOB futures represent gasoline prices in the New York Harbor, which is supplied by the Philadelphia refinery, among others.

RBOB gasoline futures for July were 3.3% higher Friday, at $1.85 per gallon. At the pump, retail prices are down 20 cents a gallon from last year for unleaded gasoline. The price is also down 4 cents from last week’s $2.70, and 18 cents from a month ago.

Sal Risalvato, executive director, New Jersey Gasoline, C-Store and Automotive Association, said that before the explosion, he already saw prices rise this week at the wholesale rack, where trucks fill up for New Jersey gas station deliveries. Some prices were up as much as 4 cents per gallon Thursday, based on the oil price jump, he said.

“I’m seeing right now at least in the short term, you’re going to see prices go up,” said Risalvato. “It wouldn’t surprise me if when I get my rack prices tonight at midnight that gas went up 5 to 10 cents. Will you sees that at the pump right away? You might. Once there’s an announcement the refinery is back on line, the price will go back down.”

Andrew Lipow, president of Lipow Oil Associates, said the part of the refining complex affected is the Girard Point section, which represents about 16% of East Coast refining capacity.

He said the complex makes gasoline, diesel fuel and jet fuel. He expects less impact on diesel and jet fuel.

“For the consumer, it’s bad news because the futures market reacted immediately and was up as much as 8 cents a gallon, but it has come down. There’s more than adequate supplies of gasoline inventories along the East Coast. What I would expect is that local inventories would be drawn until resupplies from either imports from Europe or vessels loading the Gulf Coast make their way to the East Coast,” said Lipow.

Kloza said the refinery fire could have a noticeable impact because it is a refinery that feeds the market for New York harbor gasoline, which is reflected in the price of RBOB futures on the NYMEX.

“I don’t think this is a huge deal. These things happen. It is a refinery that feeds NYMEX,” said Kloza. He said there is plenty of fuel available for the region from other parts of the North Atlantic, like Europe and Canada and the U.S.

“We’ll see a little more European gasoline coming in to the U.S. There’s plenty of Gulf Coast production coming on line, and the Colonial pipeline will be full through August.”

The Colonial pipeline brings gasoline from the Gulf Coast up the East Coast to the New York area market.

“The market is well supplied and it will be better supplied as these refineries on the Gulf Coast are restarted and there are a lot of them being restarted. We still have another 700,000/800,000 of refining capacity that’s yet to return from extended spring maintenance,” said Kloza.

Kloza said refineries have used the typical seasonal downtime to make adjustments so they can produce a new lower sulfur marine fuel, required globally at the beginning of next year.

Kloza said gasoline prices have been under pressure, and RBOB peaked in May at about $2.12 per gallon before plummeting with oil prices, to a low below $1.70 this month. On Friday, it was at $1.85.

“The tremendous downdrafts we’ve seen looking at in gasoline have been arrested by things happening by the Straits of Hormuz, and this will at least stabilize gasoline futures,” Kloza said.


Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: patti domm
Keywords: news, cnbc, companies, gallon, coast, gasoline, refining, fuel, price, explosion, refinery, cents, drive, locations, prices, east


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman Sachs cuts Tesla price target

Goldman Sachs slashed its price target on Tesla on Thursday and said it was expecting shares to continue to decline over concerns about demand. “Sustainable demand [is] the key question as shares [are] likely continue to de-rate,” the bank said in a note. Goldman lowered the price target to $158 from $200, which would represent a 30% drop from Tesla’s current levels based on Wednesday’s close of $226.43. “We believe a downward path for shares will resume as it becomes more clear that sustainable


Goldman Sachs slashed its price target on Tesla on Thursday and said it was expecting shares to continue to decline over concerns about demand. “Sustainable demand [is] the key question as shares [are] likely continue to de-rate,” the bank said in a note. Goldman lowered the price target to $158 from $200, which would represent a 30% drop from Tesla’s current levels based on Wednesday’s close of $226.43. “We believe a downward path for shares will resume as it becomes more clear that sustainable
Goldman Sachs cuts Tesla price target Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: michael bloom, sam meredith, fred imbert
Keywords: news, cnbc, companies, demand, continue, shares, sachs, model, goldman, sustainable, cuts, question, price, tesla, target


Goldman Sachs cuts Tesla price target

Goldman Sachs slashed its price target on Tesla on Thursday and said it was expecting shares to continue to decline over concerns about demand.

“Sustainable demand [is] the key question as shares [are] likely continue to de-rate,” the bank said in a note. Goldman lowered the price target to $158 from $200, which would represent a 30% drop from Tesla’s current levels based on Wednesday’s close of $226.43.

“We believe that is the largest question for investors to underwrite at this point — what are sustainable demand levels for the Model S, Model X, and Model 3 — and how does that change with the introduction of Model Y production,” Goldman Sachs analyst David Tamberrino said. “We believe a downward path for shares will resume as it becomes more clear that sustainable demand for the company’s current products are below expectations.”

Tesla shares are down 0.81% in premarket trading. The stock is down 30% this year as the company continues to be mired in a myriad controversies. Analysts and investors also continue to mull whether the company will need to raise more capital.


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: michael bloom, sam meredith, fred imbert
Keywords: news, cnbc, companies, demand, continue, shares, sachs, model, goldman, sustainable, cuts, question, price, tesla, target


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here’s who bought what at this year’s Paris Air Show

PARIS – The 2019 Paris Air Show will run until Sunday as Le Bourget Airport, situated in the city’s northern suburbs, opens its doors to the public. It is hard to be certain of the true sales value of Boeing’s Paris Air Show but after the IAG rescue act, the list price total looks, like Airbus, to have trickled past $35 billion. Based on Embarer’s catalog pricing, the firm has taken orders of 78 aircraft, worth around $4.6 billion, during the Paris Air Show this week. An Embraer E195 jet airline


PARIS – The 2019 Paris Air Show will run until Sunday as Le Bourget Airport, situated in the city’s northern suburbs, opens its doors to the public. It is hard to be certain of the true sales value of Boeing’s Paris Air Show but after the IAG rescue act, the list price total looks, like Airbus, to have trickled past $35 billion. Based on Embarer’s catalog pricing, the firm has taken orders of 78 aircraft, worth around $4.6 billion, during the Paris Air Show this week. An Embraer E195 jet airline
Here’s who bought what at this year’s Paris Air Show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: david reid
Keywords: news, cnbc, companies, firm, aircraft, orders, airline, air, paris, airways, plane, price, airlines, bought, heres


Here's who bought what at this year's Paris Air Show

PARIS – The 2019 Paris Air Show will run until Sunday as Le Bourget Airport, situated in the city’s northern suburbs, opens its doors to the public. While the aircraft and technology will remain on full display, all the big airline representatives and major plane manufacturers will leave, drawing the back room negotiations and mega deals to a close. With the big announcements now made, CNBC takes a look at some of the contracts and promises announced in the commercial aviation sector since Monday.

Airbus

In the months leading up to the show, Airbus had few orders coming on to its books. Observers predicted that the firm, enjoying its 50th anniversary, would be keen to announce deals under the Parisian sun. The European plane maker kicked off Monday with a double-whammy press conference – first announcing the launch of its widely anticipated A321XLR and backing that up with 27 initial orders for the plane from Air Lease Corporation. The single-aisle plane is seen as an economic solution to airlines who want to serve long distances between smaller cities, and it gathered momentum throughout the week.

Airbus A321XLR Soruce: Airbus

50 XLR orders came in from American Airlines and 32 from Indigo Partners, the U.S. private equity fund run by airline investor Bill Franke. Other buyers of the XLR included Lebanon’s Middle East, Philippines’ Cebu Pacific Airlines, Qantas Airways and British Airways parent, IAG. The A320 and A321 new engine option (neo), on which the XLR is based, also proved popular with Airbus inking contracts with China Airlines, Cebu Pacific Airlines, and Saudi Arabian airlines. Virgin Atlantic signed up to 14 wide-body A330neos and said it would look at the option to buy six more. Virgin says it sees the expansion of Heathrow airport as an opportunity to become a second flag carrier out of the U.K. after British Airways. Contract value of the deals is not released but the sticker price before negotiation for completely new Airbus sales looks to have exceeded $35 billion.

Boeing

Boeing’s commercial aircraft team has had well documented problems leading up to this year’s Paris Air Show The grounding of the 737 Max plane following two fatal crashes has seen airline interest grind to a halt. Some felt the U.S, plane manufacturer might offer a steep discount to get some fresh momentum and belief behind the Max but after the opening Monday, typically a busy day for air show orders, Boeing had sold no new planes. Tuesday started slowly too until the aircraft maker announced that it had sold 20 of its 787-9 and 787-10 Dreamliner jets to Korean Air, marking its first plane sale since March.

A Boeing 787 Dreamliner in flight. Boeing Company | Paul Weatherman

Other orders came from China Airlines and Qatar Airways who bought six and five respectively of Boeing’s 777 freighter model. Blushes were spared when Boeing roared back with a huge 200 plane order by IAG for, crucially, the 737 Max. Observers speculated that the British Airways parent likely secured a huge discount to the list price of $24 billion, as well as noting that the deal was only a letter of intent rather than any firm order. Added to that were deals with GECAS for ten 737-800 converted freighters and a commitment by Air lease Corporation to buy 5 wide body 787 Dreamliners. It is hard to be certain of the true sales value of Boeing’s Paris Air Show but after the IAG rescue act, the list price total looks, like Airbus, to have trickled past $35 billion.

Best of the rest

Of the smaller manufacturers, Brazilian firm Embraer saved the best until last with a Wednesday evening deal to sell 15 of its E195 E2 jets to KLM. The Dutch airline, who will use the planes on its sister airline “Cityhopper,” also has an option to buy 20 more. Based on Embarer’s catalog pricing, the firm has taken orders of 78 aircraft, worth around $4.6 billion, during the Paris Air Show this week.

An Embraer E195 jet airliner on display at the 2019 Paris Air Show opened at Le Bourget Airport. Marina Lystseva | TASS | Getty Images

Meanwhile, the Japanese planemaker Mitsubishi Aircraft Corporation announced it’s in discussions with an unnamed U.S. airline over the sale of its SpaceJet M100 aircraft. The aviation firm revealed at the Paris Air Show this week that the narrow-body regional plane should be ready for market in 2023. Moving all the way down in size, Israeli start-up Eviation said it was shaking up the airline industry with the launch of its 9 passenger all-electric plane. The battery-powered plane has yet to begin flight testing but already has a buyer. U.S. regional airline Cape Air is set to buy a “double-digit” number of the plane which has a list price of around $4 million each. First deliveries of the Eviation are set for 2022.


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: david reid
Keywords: news, cnbc, companies, firm, aircraft, orders, airline, air, paris, airways, plane, price, airlines, bought, heres


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Slack shares surge 48% over reference price in market debut

Slack surged 48.5% in its debut Thursday on the New York Stock Exchange in a direct listing rather than an initial public offering. The stock, under the symbol WORK, opened at $38.50, nearly 50% above the reference price of $26 set by the NYSE on Wednesday night. In its last financing round in 2018, Slack said it raised $427 million, which brought its valuation to $7.1 billion. It’s simply a way for existing shareholders to get liquidity by registering their shares for sale on the public market.


Slack surged 48.5% in its debut Thursday on the New York Stock Exchange in a direct listing rather than an initial public offering. The stock, under the symbol WORK, opened at $38.50, nearly 50% above the reference price of $26 set by the NYSE on Wednesday night. In its last financing round in 2018, Slack said it raised $427 million, which brought its valuation to $7.1 billion. It’s simply a way for existing shareholders to get liquidity by registering their shares for sale on the public market.
Slack shares surge 48% over reference price in market debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: lauren feiner
Keywords: news, cnbc, companies, stock, according, market, tech, debut, slack, surge, 48, price, public, shares, nyse, slacks, million, reference


Slack shares surge 48% over reference price in market debut

Slack surged 48.5% in its debut Thursday on the New York Stock Exchange in a direct listing rather than an initial public offering.

The stock, under the symbol WORK, opened at $38.50, nearly 50% above the reference price of $26 set by the NYSE on Wednesday night.

The pop puts Slack’s market cap at $19.5 billion. As of April, Slack was valued at nearly $17 billion on the secondary market, according to Forge Global, which matches private companies and their employees with investors. In its last financing round in 2018, Slack said it raised $427 million, which brought its valuation to $7.1 billion.

Slack is part of a slew of tech companies to go public this year including Uber, Lyft, Zoom, Pinterest, PagerDuty and CrowdStrike. But it is just the second large tech firm to pursue the unusual direct listing route in the past year and a half. Spotify surprised Wall Street with its decision to list directly onto the New York Stock Exchange last year.

In a direct listing, unlike an IPO, banks do not underwrite the offering, and no new shares are sold, so the company does not receive any additional money for operations. It’s simply a way for existing shareholders to get liquidity by registering their shares for sale on the public market. Plus, Slack doesn’t need to raise more money since it already has more than $800 million in cash on hand. Slack said it engaged Goldman Sachs, Morgan Stanley and Allen & Company as financial advisors and several more firms as associate financial advisors to assist it in the process.

While banks typically help determine pricing in an IPO, the NYSE set the reference price for Slack of $26 Wednesday night. The opening price for Slack’s Class A common stock was determined by the buy and sell orders collected by the NYSE from broker-dealers, according to Slack’s prospectus.

Like many tech companies, Slack debuted with a dual-class structure, with Class B shares holding 10 votes per share to consolidate voting power among its top shareholders. According to Slack’s prospectus, Accel is the company’s largest shareholder at 24%, followed by Andreessen Horowitz with a 13.3% stake and Social Capital at 10.2%. Slack CEO Stewart Butterfield owns an 8.6% stake and SoftBank holds 7.3%.

In an interview with CNBC’s Andrew Ross Sorkin ahead of the stock’s debut, Butterfield said Slack’s success foreshadows a change to email as we know it. Conventional email will be phased out in five to seven years, he said.

“Everyone will choose this,” Butterfield said of Slack, which provides a platform for public and private messaging channels.

Slack reported a net loss of $138.9 million on revenue of $400.55 million for the year ended Jan. 31. As of Jan. 31, Slack said it had over 10 million daily active users and saw its number of paid customers increase 49% year over year. Slack also has seen large growth among its highest-paying customers, those who pay over over $100,000 based on annual recurring revenue. The number of customers in that group was up 93% year over year compared with fiscal 2018, according to the prospectus.

Disclosure: Comcast Ventures, the venture arm of Comcast, is an investor in Slack. Comcast owns CNBC parent company NBCUniversal.

-CNBC’s Jessica Bursztynsky contributed to this report.

Subscribe to CNBC on YouTube.

WATCH: Slack tips and tricks to make you a messaging guru


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: lauren feiner
Keywords: news, cnbc, companies, stock, according, market, tech, debut, slack, surge, 48, price, public, shares, nyse, slacks, million, reference


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Slack reference price set at $26 per share: NYSE

The Slack Technologies application is displayed on an Apple iPhone in an arranged photograph taken in Arlington, Virginia on Monday, April 29, 2019. Slack Technologies’ reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening. That does not necessarily mean Slack’s Class A shares will open at $26 when they make their stock market debut on Thursday. A reference price is not an offering price. That number will ultimately be determined by the designated mark


The Slack Technologies application is displayed on an Apple iPhone in an arranged photograph taken in Arlington, Virginia on Monday, April 29, 2019. Slack Technologies’ reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening. That does not necessarily mean Slack’s Class A shares will open at $26 when they make their stock market debut on Thursday. A reference price is not an offering price. That number will ultimately be determined by the designated mark
Slack reference price set at $26 per share: NYSE Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: christine wang
Keywords: news, cnbc, companies, nyse, orders, ultimately, stock, set, reference, price, share, 26, technologies, market, york, virginia, slack


Slack reference price set at $26 per share: NYSE

The Slack Technologies application is displayed on an Apple iPhone in an arranged photograph taken in Arlington, Virginia on Monday, April 29, 2019.

Slack Technologies’ reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.

That does not necessarily mean Slack’s Class A shares will open at $26 when they make their stock market debut on Thursday.

A reference price is not an offering price. It is also not an opening price. That number will ultimately be determined by the designated market maker, based off a calculation of a figure where buy orders can be met with sell orders.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: christine wang
Keywords: news, cnbc, companies, nyse, orders, ultimately, stock, set, reference, price, share, 26, technologies, market, york, virginia, slack


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

BMW debuts 4-door, 8-Series Gran Coupe with an entry price around $86,000

The new 2020 BMW 8-Series Gran Coupe is BMW’s latest offering. For those who want more power, however, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8. But none of the competitors offers as broad a range as BMW does with its various Gran Coupe options. The Gran Coupe is expected to solidly outsell the two-door 8-Series going forward as has been the case with earlier Gran Coupe offerings based on the 4-Series and 6-Series lines. The heavier Gran Coupe, BMW estimates, will n


The new 2020 BMW 8-Series Gran Coupe is BMW’s latest offering. For those who want more power, however, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8. But none of the competitors offers as broad a range as BMW does with its various Gran Coupe options. The Gran Coupe is expected to solidly outsell the two-door 8-Series going forward as has been the case with earlier Gran Coupe offerings based on the 4-Series and 6-Series lines. The heavier Gran Coupe, BMW estimates, will n
BMW debuts 4-door, 8-Series Gran Coupe with an entry price around $86,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: paul a eisenstein
Keywords: news, cnbc, companies, coupe, entry, 86000, rear, models, 4door, bmw, price, 8series, version, model, gran, debuts, twodoor, coupes


BMW debuts 4-door, 8-Series Gran Coupe with an entry price around $86,000

The 2020 BMW 8 Series Gran Coupe. European model shown. Source: BMW

BMW has a habit of stretching definitions, as it did when it introduced a stretched version of the old 6-Series coupe, adding a pair of extra doors and dubbing it a “Gran Coupe.” Since then, it has expanded the array of four-door coupes that have fleshed out its line-up. The new 2020 BMW 8-Series Gran Coupe is BMW’s latest offering. For those who want more power, however, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8. Based on the two-door model introduced just a year ago, the new model offers more space and easier entry, as well as the first inline-six engine option available for the 8-Series line. The sporty M850i version will also become one of the automaker’s most expensive models ever when it reaches showrooms in September, pushing into six-figure territory when all the option boxes are checked.

Starting price of $85,895

When it reaches U.S. showrooms, expect a starting price of $85,895 for the 840i and $88,705 for the 840i xDrive. The M850i will start at $109,895. BMW is by no means the only luxury automaker that has tried to blur the lines between sedans and coupes. If anything, Mercedes-Benz was a pioneer with the original, CLS model launched in 2004. Mercedes has since added several other models following this design theme, including the smaller CLA. Audi’s A7 is another popular competitor, with Porsche offering its Panamera model and Aston Martin weighing in with the Rapide. But none of the competitors offers as broad a range as BMW does with its various Gran Coupe options. The Tesla Model S, which more precisely targets the BMW 7-Series, has been drawing from potential 8-Series buyers, auto industry analysts say. The debut of BMW’s Gran Coupe comes almost exactly a year after BMW revealed the two-door version of the 8-Series, reviving a nameplate it abandoned nearly two decades ago and providing a more sporty alternative to the familiar 7-Series sedan flagship.

Coupes lose ground

But, in today’s SUV-centric market, coupes have lost even more ground than sedans. The Gran Coupe is expected to solidly outsell the two-door 8-Series going forward as has been the case with earlier Gran Coupe offerings based on the 4-Series and 6-Series lines.

The 2020 BMW 8 Series Gran Coupe. European model shown. Source: BMW

What’s clear is that BMW’s passenger car line-up, in general, has been struggling of late. While its crossover models, such as the X5, were up 29.0% for the first five months of the year, its sedans, coupes and sports cars were down 15.1%. The 4-Series coupes, including the Gran Coupe, lost 19.4%. Though the 8-Series was never expected to generate massive volume, it only recorded 1,197 sales in the U.S. through the end of May, less than a third the 3,931 7-Series models BMW sold. The automaker is clearly hoping that the addition of the four-door version will help move the needle. That said, BMW designers worked hard to maintain the coupe-like lines of the earlier model, retaining the long nose and sweeping roofline, even though the Gran Coupe features a more upright windshield to allow for a taller roof.

A bigger cabin

It is bigger in most key dimensions, adding 7.9 inches to the two-door’s wheelbase, for one thing, and 9.0 inches to overall length. The Gran Coupe also gains 1.2 inches in width and stands 2.2 inches taller, those number translating into a cabin roomy enough to allow adults to sit in the rear without bumping elbows or banging heads whenever the car hits a pothole.

The 2020 BMW 8 Series Gran Coupe. European model shown. Source: BMW

Both versions will come with a panoramic moonroof as standard fare, though the M850i will also offer an optional carbon-fiber roof to reduce overall weight and lower the Gran Coupe’s center of gravity. The body itself uses a mix of materials to hold down mass, including aluminum doors and hood and a dent-plastic resistant trunk lid. As one might expect of the BMW flagship, even a base model is lavishly equipped, with standard leather seating and trim, though buyers can opt up to a two-tone leather package, as well. Unlike the two-door model, the Gran Coupe features a wide center console running the length of the cabin to divide it into four seating sections. The rear seats can be folded in a 40/20/40 configuration to open up more cargo space. There are some significant technical features, too, including LED headlamps with Laserlight that help extend a driver’s view significantly at night. The rear console features new USB-C ports and the driver has handy access to the latest version of the BMW iDrive infotainment system.

0 to 60 in 3.7 seconds

While BMW offers the 8-Series coupe with a variety of different powertrain options around the world, it limited the U.S. two-door model to the 523-horse power twin-turbo 4.4-liter V-8 found in the M850i trim. That version was able to launch from 0 to 60 in under 3.5 seconds. The heavier Gran Coupe, BMW estimates, will need about 3.7 seconds to get there. Going forward, the Bavarian automaker will add the rear-wheel-drive 840i and 840i xDrive Gran Coupe which will bring to the U.S. a 3.3-liter inline-six making 335 horsepower and 368 pound-feet of torque. It estimates a 0 to 60 launch time of 4.6 seconds for the xDrive model, and a top speed of 155 mph when driving on performance tires. Both engines will be paired with a quick-shifting eight-speed automatic with steering wheel-mounted paddle shifters. The Gran Coupe gets a double-wishbone front suspension and a five-link rear. An active steering system is meant to increase the car’s agility, especially during high-speed cornering.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: paul a eisenstein
Keywords: news, cnbc, companies, coupe, entry, 86000, rear, models, 4door, bmw, price, 8series, version, model, gran, debuts, twodoor, coupes


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Winklevoss twins: ‘We need to be frenemies’ with Facebook now that it’s into Libra crypto

The relationship between Cameron and Tyler Winklevoss and Mark Zuckerberg is strained, to say the least, since the brothers accused Zuckerberg of stealing their idea for a social network and settled with Facebook for $65 million. The Winklevoss twins need to be “frenemies” (or friendly enemies) with Facebook, Cameron said Sunday on CBS’ “Sunday Morning. ” Talk of Facebook launching its own cryptocurrency pushed the price of Bitcoin above $9,000 on Sunday for the first time in a year and Tuesday


The relationship between Cameron and Tyler Winklevoss and Mark Zuckerberg is strained, to say the least, since the brothers accused Zuckerberg of stealing their idea for a social network and settled with Facebook for $65 million. The Winklevoss twins need to be “frenemies” (or friendly enemies) with Facebook, Cameron said Sunday on CBS’ “Sunday Morning. ” Talk of Facebook launching its own cryptocurrency pushed the price of Bitcoin above $9,000 on Sunday for the first time in a year and Tuesday
Winklevoss twins: ‘We need to be frenemies’ with Facebook now that it’s into Libra crypto Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: catherine clifford
Keywords: news, cnbc, companies, cameron, price, crypto, twins, bitcoin, libra, tyler, winklevoss, facebook, morning, cryptocurrency, zuckerberg, frenemies, need


Winklevoss twins: 'We need to be frenemies' with Facebook now that it's into Libra crypto

The relationship between Cameron and Tyler Winklevoss and Mark Zuckerberg is strained, to say the least, since the brothers accused Zuckerberg of stealing their idea for a social network and settled with Facebook for $65 million.

But forthcoming business dealings may push the former Harvard classmates to bridge their divide.

The Winklevoss twins need to be “frenemies” (or friendly enemies) with Facebook, Cameron said Sunday on CBS’ “Sunday Morning. ”

The Winklevosses are large and vocal investors in bitcoin and co-founders of a cryptocurrency exchange called Gemini. And Facebook announced plans for Libra, its own cryptocurrency, on Tuesday.

Talk of Facebook launching its own cryptocurrency pushed the price of Bitcoin above $9,000 on Sunday for the first time in a year and Tuesday morning, bitcoin was trading at $9,175, according to CoinDesk’s bitcoin price index.

“There’s so much pie to grow, I mean, at this point, we need to be frenemies,” Cameron said on Sunday.

In May, the Financial Times reported that Zuckerberg and the Winklevoss twins had talks about digital currency.

They Winklevoss twins learned about bitcoin in 2012 and had an “ah ha” moment when they started to see bitcoin as “money that works like your email,” in that it was both fast and easy to use, Tyler said on “Sunday Morning.”


Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: catherine clifford
Keywords: news, cnbc, companies, cameron, price, crypto, twins, bitcoin, libra, tyler, winklevoss, facebook, morning, cryptocurrency, zuckerberg, frenemies, need


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Beyond Meat stock tumbles after briefly trading above $200

Shares of Beyond Meat soared as much as 18% Tuesday morning, briefly surpassing $200 per share and hitting a new all-time high of $201.88. When the markets opened Tuesday morning, the stock was up 18% and trading for $200 per share. The company’s stock is up around 555% since its IPO, a market value of about $9.5 billion. Beyond’s stock price remains well above the price targets of analysts, the highest of which is $123. While the market for meat alternatives is growing more crowded as Tyson Foo


Shares of Beyond Meat soared as much as 18% Tuesday morning, briefly surpassing $200 per share and hitting a new all-time high of $201.88. When the markets opened Tuesday morning, the stock was up 18% and trading for $200 per share. The company’s stock is up around 555% since its IPO, a market value of about $9.5 billion. Beyond’s stock price remains well above the price targets of analysts, the highest of which is $123. While the market for meat alternatives is growing more crowded as Tyson Foo
Beyond Meat stock tumbles after briefly trading above $200 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: amelia lucas
Keywords: news, cnbc, companies, price, stores, stock, tumbles, 200, streak, briefly, shares, companys, share, meat, trading, plantbased


Beyond Meat stock tumbles after briefly trading above $200

In this photo illustration, packages of Beyond Meat “The Beyond Burger” sit on a table, June 13, 2019 in the Brooklyn borough of New York City.

Shares of Beyond Meat soared as much as 18% Tuesday morning, briefly surpassing $200 per share and hitting a new all-time high of $201.88.

When the markets opened Tuesday morning, the stock was up 18% and trading for $200 per share. After hitting a new record price for shares, Beyond’s stock gave up its gains and is now trading down 4% from Monday’s close.

At the beginning of May, the maker of plant-based meats priced its initial public offering at $25 per share. The company’s stock is up around 555% since its IPO, a market value of about $9.5 billion.

Beyond’s stock price remains well above the price targets of analysts, the highest of which is $123. No one on Wall Street recommends buying the stock anymore because of its hot streak. The stock has been gyrating as analysts have raised concern about its monster run.

Short sellers have also taken an interest in Beyond’s hot streak. An investor who wants to short a stock borrows shares then sells them, betting that the price will drop by the time the borrowed shares must be returned. As of Monday, short sellers hold roughly 3.6 million Beyond Meat shares, or 33% of the company’s shares that are publicly owned and available for trading, according to data from IHS Markit.

While the market for meat alternatives is growing more crowded as Tyson Foods and Nestle prepare to launch their own plant-based meat imitations, Beyond has been expanding and improving its own products.

Shares of Beyond closed up 12% Monday after the company said that it will start offering its Beyond Beef — plant-based ground beef — in grocery stores. The announcement followed the company’s launch of a new, “meatier” version of its Beyond Burger in stores last week.


Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: amelia lucas
Keywords: news, cnbc, companies, price, stores, stock, tumbles, 200, streak, briefly, shares, companys, share, meat, trading, plantbased


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Lufthansa lowers 2019 profit forecast, cites price competition

Unilever staff took part in DNA experiment to tackle unconscious…Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has…Marketing.Media.Moneyread more


Unilever staff took part in DNA experiment to tackle unconscious…Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has…Marketing.Media.Moneyread more
Lufthansa lowers 2019 profit forecast, cites price competition Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17
Keywords: news, cnbc, companies, price, taken, unilever, step, unusual, cites, forecast, 2019, dna, tackle, read, lowers, took, lufthansa, unconsciousconsumer, staff, competition, profit


Lufthansa lowers 2019 profit forecast, cites price competition

Unilever staff took part in DNA experiment to tackle unconscious…

Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has…

Marketing.Media.Money

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-17
Keywords: news, cnbc, companies, price, taken, unilever, step, unusual, cites, forecast, 2019, dna, tackle, read, lowers, took, lufthansa, unconsciousconsumer, staff, competition, profit


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The price of apples is soaring in China, and Beijing is showing concern

The price of apples in China has surged nearly 30%, and consumers are cutting their purchases of the fruit, according to data from grocery delivery platform Dada-JD Daojia. Government figures released Wednesday showed China’s consumer price index rose in May to 2.7%, its highest in more than a year, boosted by an 18.2% climb in pork prices and a 26.7% increase in fruit prices. African swine fever has hit millions of pigs, while bad weather has hit the fruit crop. The cost of half a kilogram of a


The price of apples in China has surged nearly 30%, and consumers are cutting their purchases of the fruit, according to data from grocery delivery platform Dada-JD Daojia. Government figures released Wednesday showed China’s consumer price index rose in May to 2.7%, its highest in more than a year, boosted by an 18.2% climb in pork prices and a 26.7% increase in fruit prices. African swine fever has hit millions of pigs, while bad weather has hit the fruit crop. The cost of half a kilogram of a
The price of apples is soaring in China, and Beijing is showing concern Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: evelyn cheng
Keywords: news, cnbc, companies, fruit, concern, increase, yuan, soaring, beijing, prices, nearly, dadajd, hit, pound, showing, apples, china, price, consumer


The price of apples is soaring in China, and Beijing is showing concern

The price of apples in China has surged nearly 30%, and consumers are cutting their purchases of the fruit, according to data from grocery delivery platform Dada-JD Daojia.

That’s just one example in several jumps in food prices in the country. The rapid increase is worth watching for any impact on consumer sentiment and spending, especially since Beijing is putting great emphasis on consumption as a way to keep the economy steadily growing.

Government figures released Wednesday showed China’s consumer price index rose in May to 2.7%, its highest in more than a year, boosted by an 18.2% climb in pork prices and a 26.7% increase in fruit prices.

African swine fever has hit millions of pigs, while bad weather has hit the fruit crop.

The cost of half a kilogram of apples jumped to 15.19 yuan at the beginning of June from 11.81 yuan at the end of April, Dada-JD Daojia said. That’s an increase from about $1.55 a pound to nearly $2 per pound.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: evelyn cheng
Keywords: news, cnbc, companies, fruit, concern, increase, yuan, soaring, beijing, prices, nearly, dadajd, hit, pound, showing, apples, china, price, consumer


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post