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Business

Stellantis closing 5 North American vegetation attributable to chip scarcity

A member of United Auto Worker leaves the Fiat Chrysler Automobiles Warren truck plant after the first shift on May 18, 2020 in Warren, Michigan.

Gregory Shamus | Getty Images

A global shortage of semiconductor chips is forcing Stellantis to temporarily close five North American plants starting next week, the company confirmed on Friday afternoon.

The affected plants are in Illinois, Michigan, Mexico and two in Ontario, Canada. They build a range of products for the company – from older Ram 1500 pickup trucks and Jeep models to minivans and Dodge and Chrysler cars. The facilities, which used to belong to Fiat Chrysler, are expected to be closed from Monday to early or mid-April, according to the company

“Stellantis continues to work closely with our suppliers to reduce the manufacturing impact caused by the various supply chain problems in our industry,” the company said in a statement emailed to CNBC. A Stellantis spokeswoman declined to indicate how many production units are likely to be lost.

Semiconductors are, among other things, key components for infotainment, power steering and brakes in new vehicles. Suppliers have moved semiconductors away from the automotive industry as several plants were closed due to Covid in the past year.

Consulting firm AlixPartners estimates the chip shortage will reduce global auto industry sales by $ 60.6 billion this year.

The deficiency affects every automaker differently. Several manufacturers, including General Motors, Ford Motor and the Chinese EV start-up Nio, also announced production cuts or plans to extend downtime at facilities already affected this week.

Vehicles affected by Stellantis’ production stops include the Chrysler 300 sedan, as well as the Pacifica and Voyager minivans, Dodge Charger and Challenger vehicles, Jeep Cherokee and Compass SUVs, and the Ram 1500 Classic pickup. A newer version of the Ram 1500 continues to be produced at a different facility in Michigan.

Stellantis is the merged automaker of Fiat Chrysler and France-based Groupe PSA. In the USA, the core brands include Alfa Romeo, Chrysler, Dodge, Fiat, Jeep and Ram.

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Health

Cuomo faces political disaster attributable to Covid dying probe, bullying accusations

Governor Andrew Cuomo holds a daily press conference at the base of the Mario Cuomo Bridge in Tarrytown, New York on June 15, 2020.

Lev Radin | Pacific Press | LightRocket via Getty Images

What a difference a few months have made for New York Governor Andrew Cuomo – and not in a good way.

Cuomo was hailed last year by many who viewed him as a competent, scientifically respectful, no-nonsense, fatherly counterpoint to Donald Trump’s direct, expertly despicable, and often confusing approach to dealing with the coronavirus pandemic.

Cuomo’s daily press conferences, detailing the gritty Covid-19 stats in New York and urging citizens to take precautions against infection, became a must-see TV for weeks, as did his towel joke in interviews with the CNN presenter Chris Cuomo – his own brother.

As a result, it was discussed again that Cuomo, whose father Mario worried about running for president, earned him the sobriety of “Hamlet on the Hudson,” being a candidate for the Democratic White House nomination in 2024 would, or some position in the federal government before that.

Cuomo even landed a contract to write a book, American Crisis: Leadership Lessons from the Covid-19 Pandemic, which was published in October – even as the crisis continued to threaten his own state and elsewhere.

But it is Cuomo’s management approach to the health crisis that has created a political crisis in his administration that threatens his electoral future.

Thousands of vulnerable New Yorkers died in nursing homes during the pandemic. Your loved ones and the public deserve responses and transparency from their elected leadership.

Alexandria Ocasio-Cortez MP

DN.Y.

The U.S. Department of Justice is currently conducting a criminal investigation into nursing home deaths in New York related to the coronavirus. This was announced this week. The disclosure of this probe came weeks after New York attorney general Letitia James said deaths related to these hires were underreported by the Cuomo administration by up to 50%.

And Cuomo is also facing an effort in the state legislature to deprive him of his emergency powers, a push fueled by resentment at the governor’s verbal armament against lawmakers who stand in his way.

There is even talk of indicting Cuomo.

Alexandria Ocasio-Cortez, the progressive Democrat whose district includes parts of Queens and the Bronx in New York, issued a statement Friday approving requests from other elected officials for a “full investigation into government’s dealings with.” Nursing Homes During the Pandemic “joined. “

Ocasio-Cortez also said she supports “our state’s return to equal governance,” an indication of Cuomo’s years of dominance in the legislature.

“Thousands of New Yorkers at risk were killed in nursing homes during the pandemic,” she said. “Your loved ones and the public deserve answers and transparency from their elected leadership.”

An excuse, a probe

The contrast between Cuomo’s current situation and last fall was vividly illustrated last week when he left the White House without speaking to reporters after speaking to President Joe Biden and other governors and others at the White House about fighting pandemics and vaccinations had spoken to Mayor.

If that meeting had happened last summer, it would be unlikely that Cuomo would have missed the opportunity to share his thoughts on the seat with journalists.

That meeting, however, followed a report in the New York Post that Cuomo’s top adviser Melissa DeRosa recently apologized to Democratic lawmakers for holding back the Covid death count in government nursing homes last year while Trump was still president fear that the statistics will be “used against us” by federal prosecutors.

That excuse apparently raised the prosecutors’ antennas itself.

On Thursday evening, the Wall Street Journal reported that prosecutors from the U.S. Attorney’s Office for the Eastern District of New York had requested data on deaths in nursing homes related to Covid.

The request is “part of a broader investigation into how the state is dealing with the pandemic in these care facilities,” according to sources speaking to The Journal.

A source for the article said the data request came after DeRosa’s apology was reported.

Families of Covid victims and Republican lawmakers in New York last year criticized Cuomo for an order from the state Department of Health requiring nursing homes to withdraw their residents even if they were discharged from a hospital with Covid.

These critics accuse these policies of accelerating the spread of the virus in nursing homes.

Cuomo, whose press office did not immediately respond to a request from CNBC for comment, said this week, “My health experts do not believe it was wrong and we have gone through all the facts multiple times.”

The governor also said he had followed instructions from two leading federal agencies, the Centers for Disease Control and Prevention and the Centers for Medicare and Medicaid Services.

“If we believed it was wrong we would say we believe it is wrong and we made a mistake by following the CDC and CMS guidelines and then I would be the federal government because of Sue for misconduct related to their CDC and CMS policies, “Cuomo said.

“Classic Andrew Cuomo”

On Tuesday, nine Democratic members of the State Assembly sent their colleagues a letter accusing Cuomo of deliberately obstructing the judiciary in violation of federal criminal law. That letter called on the gathering to withdraw the government’s emergency powers granted it last year as the pandemic spread.

“This is a necessary first step in correcting the criminal injustice of this governor and his government,” said the letter, which was signed by Honorable Ron Kim from Queens.

Kim said this week, after being quoted in a New York Post article for criticizing the withholding of data from nursing homes, he received an angry phone call from Cuomo on Feb.11.

“You didn’t see my anger,” Cuomo Kim warned, according to lawmakers. “They will be destroyed,” said the governor, according to Kim.

Kim also told the Post that the governor said, “I can tell the whole world what a bad person you are and you will be done.”

In an interview with NBC New York, Kim said, “He spent 10 minutes calling me names, yelling at me, threatening me and my career, my livelihood.”

Kim’s wife, who allegedly overheard Cuomo for cursing MPs so loudly, was so shocked by the governor’s threats that she “didn’t sleep that night,” said Kim.

Cuomo’s spokesman Rich Azzopardi told The Post that Kim “lied about his conversation with Governor Cuomo”.

“I know because I was one of three other people in the room when the call came,” Azzopardi said, according to The Post.

“At no point did anyone threaten to ‘destroy’ someone with their ‘anger’ or to engage in a ‘cover-up’.” “

Kim had not backed off with his claims.

Kim appeared on ABC’s “The View” on Friday and said, “Cuomo is an abuser.”

New York Mayor Bill de Blasio, who often has a whipping boy for Cuomo, told MNBC’s “Morning Joe” show that the call to Kim was “classic Andrew Cuomo”.

“A lot of people in New York State got these calls, you know, bullying is nothing new,” said de Blasio.

“I believe Ron Kim, and it’s very, very sad – no officer, no person telling the truth should be treated like that.”

Categories
Business

Ford F-150 manufacturing reduce resulting from semiconductor chip scarcity

Ford began resuming vehicle production in the U.S. on May 18, 2020 with new coronavirus safety protocols like health assessments, personal protective equipment, and changes to facilities to increase social distancing.

ford

DETROIT – Ford Motor is significantly reducing production of its highly profitable F-150 pickup trucks due to a persistent shortage of semiconductor chips in the global automotive industry.

The automaker announced Thursday that its Dearborn, Michigan truck plant will decrease from three to one shift for one week starting Monday, while truck production at its Kansas City, Missouri assembly plant will decrease from three to two shifts. Ford spokeswoman Kelli Felker said both plants are expected to return in three shifts by the week of February 15.

“We are working closely with suppliers to address potential production constraints associated with global semiconductor shortages and to prioritize key vehicle lines for production and make the most of our semiconductor allocation,” she said in a statement sent via email.

Ford shares appeared unaffected by the cuts, rising about 3% during intraday trading late Thursday morning. The automaker is expected to announce its fourth quarter results and forecast for 2021 after the market closed on Thursday.

Automakers and suppliers warned of a semiconductor shortage late last year after vehicle demand rose faster than expected following a two-month shutdown of production facilities due to the coronavirus pandemic.

Semiconductors are extremely important components of new vehicles in areas that range from infotainment systems to more traditional parts like power steering. They are also used in consumer electronics.

Ford’s confirmed plans come a day after General Motors announced it would cease production at four assembly plants in Fairfax, Kansas, next week. Ingersoll, Ontario; and San Luis Potosi, Mexico. GM will also operate a half capacity plant in South Korea this week.

Ford and other automakers – from Nissan Motor to Volkswagen – previously stopped vehicle production due to the shortage of chips.

Kumar Galhotra, Ford President for the US and International Markets, described the chip shortage earlier this week as a “very dynamic situation”. He said the company had been working with its suppliers to reduce the impact on its plants and resolve the issue as soon as possible.

“It’s changing all the time, but we believe we will look into it for at least the first half of this year,” he told CNBC.

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Business

Robinhood says restrictions on GameStop on account of tenfold enhance in clearinghouse deposit necessities

The Robinhood application on a smartphone.

Bloomberg | Bloomberg | Getty Images

Online broker Robinhood announced that it has placed temporary purchase restrictions on a small number of stocks as the deposit requirements for stocks imposed by the Wall Street clearinghouse have increased tenfold.

The decision of Robinhood, a pioneer and app for free trade popular with retail investors, was scrutinized by its customers over the past week.

“It wasn’t because we wanted to stop people from buying these stocks,” Robinhood said in a blog post published late Friday.

“We did this because the amount required to deposit into the clearing house was so large – with individual volatile securities adding up to hundreds of millions of dollars in deposit requirements – that we had to take steps to purchase them limit volatile stocks to ensure this could comfortably meet our requirements, “it continued.

Amateur investors using Robinhood and other apps are offering sharply truncated stocks and have caused GameStop stocks to skyrocket 400% over the past week, causing significant losses for hedge funds, which have cut stocks .

Robinhood initially announced to investors that they could only sell, and not buy, new stock in certain companies that grab retailer attention on Reddit. With the online broker, customers can now only buy a single GameStop share. A total of 50 stocks are now limited to the stock trading app.

Categories
World News

Gross sales plummeted 80%, lowest haul in many years attributable to Covid-19

A Cinemark employee serves popcorn to a customer at a concession booth in Cinemark’s Century 16 at the South Point Hotel & Casino on August 14, 2020 in Las Vegas, Nevada.

Ethan Miller | Getty Images News | Getty Images

Just days before the end of the year, the effects of the coronavirus pandemic on the film industry in 2020 are clear and devastating.

According to data from Comscore, ticket sales fell 80% to $ 2.28 billion, a far cry from the second-best box office ever of $ 11.4 billion in 2019.

“To say this has been a challenging year for cinemas is an understatement,” said Paul Dergarabedian, senior media analyst at Comscore.

The year got off to a strong start: the industry raised more than $ 900 million in January, an increase of 10% over the same month last year. Much of its success was thanks to films like “Jumanji: The Next Level” and “Star Wars: The Rise of Skywalker,” which released in December 2019 and are still in theaters in January.

Ticket sales in February were over $ 651 million, up 4% year over year.

However, in March the film industry entered a period of forced hibernation when the US was locked down to contain the coronavirus pandemic.

In March 2019, the domestic box office achieved sales of 967 million US dollars thanks to blockbuster titles such as “Captain Marvel”, “Us” and “How to Train Your Dragon: The Hidden World”. With theaters suddenly closing, the box office dropped 73% to just $ 258 million in March 2020.

Even after the cinemas reopened, the largest chains remained closed until the end of August. As a result, the domestic box office has not seen more than $ 100 million in revenue in any month since March.

“The full year North American cash register numbers will obviously be a fraction of the pre-pandemic market, but the fact that it had over $ 2 billion in sales in 2020 is certainly impressive,” Dergarabedian said.

Ticket sales of nearly $ 2.3 billion in 2020 is an estimate and could change slightly before January 1. However, analysts do not expect this number to fluctuate much as less than 40% of domestic and international cinemas are open to the public which are capable of operating must do so with limited capacity. Not to mention that there are no more weekends in the year. This is the most popular time for moviegoers to go to the theater.

Assuming this number is correct, it will be the lowest number the domestic box office has collected in nearly 40 years, according to Comscore. According to Dergarabedian, it wasn’t until the early 1980s that cash tracking became coherent, making it difficult to trace the data any further.

On the way into 2021, analysts and cinema operators are more optimistic about the box office. While there won’t be any major movie releases through March, the recent opening of Wonder Woman 1984 in the US and Canada is building confidence in an industry-wide recovery.

“We are cautiously optimistic as long as needles go into our arms,” ​​said a cinema operator with locations in the southern United States about the introduction of vaccines in the country.

The hope for these companies is that enough people will be vaccinated by mid-2021 so that the cinemas will be fully occupied again and moviegoers will feel good again when they return to big blockbusters.

The list of films is especially robust considering how many films have been postponed as of 2020. These include Marvel’s “Black Widow”, the ninth “Fast and Furious” film, “Jungle Cruise”, a new “Minions” film and the James Bond film “No Time to Die.”

“Wonder Woman 1984 showed that the power and excitement of cinema still exist amid a pandemic, and that’s at least some good news in a year that the industry would like to take a back seat,” Dergarabedian said .

Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is the studio behind the “Fast and Furious” films and has international distribution rights for “No Time to Die”.

Categories
World News

UK More and more Remoted as US Restricts Journey On account of Coronavirus

LONDON – It was another reminder, delivered before dawn on Christmas morning, that Britain is not just an island nation but is increasingly alone.

The United States’ decision to oblige all passengers arriving from the UK to test negative for the coronavirus within 72 hours of flight departure starting Monday was less of a shock than another bitter pill in a gloomy holiday season.

There’s the rapid spread of a variant of the coronavirus that is feared to be more contagious. Dozens of nations have banned travelers from the UK from entering the country. The extended lockdowns in the country will hit 48 million people by Saturday. And thousands of trucks remain stranded on the English coast, even after France lifts a brief border blockade imposed because of virus problems.

Adding to the volatility was a short-term Brexit deal with the European Union, which kept the UK from stepping out of the bloc without a deal but was a painful reminder of a decision that divided the country.

Then there was the Christmas message from Prime Minister Boris Johnson warning against “snogging under mistletoe”.

Although Brexit supporters refrained from being driven by a desire for Britain to “regain control”, the nation’s immediate fate is being shaped by forces beyond the control of any individual – and perhaps no more than the coronavirus .

The rapid spread of the virus variant, which accounts for half of all cases in England according to government statistics, led to the lockdown of London and southern England this week. As of Saturday, it will encompass an even larger part of the country, and a national lockdown hasn’t been ruled out.

“I know it’s been very, very difficult the past few weeks and I have to tell people that it will continue to be difficult,” Johnson said on Thursday.

Many countries already require a negative coronavirus test to enter the country, and the new U.S. restrictions are less stringent than the near-total bans that some 50 nations have placed on travelers from the UK. With the country typically serving as a junction for passengers traveling between Europe and the US, it was another blow to the ailing airlines that cut flight after flight as governments suspended travel.

The usual flood of traffic between the USA and Great Britain had already decreased significantly. According to the Office of National Statistics, more than 4.8 million UK residents visited the United States in 2019.

And while Heathrow Airport posted more than a million passengers to the North American market in February, that number has since fallen to 81,713 last month, according to the airport.

The UK Foreign and Commonwealth Offices updated their travel advice on Friday to include the new testing requirement. Those who want to travel must either present the result of a PCR test, which must be sent to a laboratory and which can take several days to process, or the rapid antigen test, a relatively new tool that gives a result in around 30 minutes.

Updated

Apr. 25, 2020 at 6:54 am ET

With many private clinics and laboratories closed on Friday at Christmas, those who want to travel immediately after the vacation can find it difficult to test within the 72-hour window. Price can also be a factor. Heathrow Airport charges around USD 130 for 48 hour PCR results and around USD 60 for PCR results for antigen tests with results within 45 minutes. Private clinics charge even more for both tests.

Both tests are offered at many major UK airports including Gatwick, Manchester and London Luton and Heathrow. However, with passengers having to register for tests in advance, it was unclear how many could get one in time and then get a result.

Non-essential travel will also be banned across much of the UK from Saturday.

Despite the limitations, there is concern that the variant, which according to increasing scientific knowledge is more contagious, is likely to be far more widespread than previously known. And because few countries are using the level of genomic surveillance that the UK does, it could have been spreading undetected for weeks.

A woman who flew to Germany on Sunday – hours before the country introduced its travel ban – tested the variant positive, German health authorities announced on Thursday. It was the first case identified in the country, but since the variant has been spreading since at least September, experts said it was likely not the first case there.

Singapore also announced it discovered a case on Thursday.

And Denmark, which has more extensive genomic surveillance than many other countries, discovered 33 cases of the variant between November 14th and December 14th, according to the Danish health authorities.

Concerns about the variant that resulted in travel bans also led France to block the English Channel for 48 hours. Although that order was lifted on Wednesday, a later attempt to test thousands of drivers for the virus to enter France has proven to be a logistical nightmare.

As of Thursday, Transportation Secretary Grant Shapps said that of the 2,367 drivers tested, three were positive. Thousands more remain to be tested. The British military has deployed an additional 800 soldiers to assist the 300 existing soldiers in carrying out the screenings.

As concerns increased in drivers’ home countries, including Poland, the country’s defense minister said in a tweet that a team of soldiers would be sent to England to take the citizens home.

For a weary and angry British audience, the usual holiday season pleasures were hard to come by.

Even the Queen’s annual Christmas speech was controversial when a national broadcaster, Channel 4, used the holiday to warn of the dangers of “deep fake” videos with a five-minute fake version of the address.

In it, the fake queen laments the departure of Prince Harry and his wife Meghan to the United States and alludes to the Duke of York’s decision to step down from royal duties this year after giving the BBC an interview about his connection to the United States Sex offender Jeffrey Epstein.

The BBC’s royal correspondent Nicholas Witchell was not impressed.

“There have been innumerable imitations of the queen,” he said. “That’s not very good.”

The real Queen Elizabeth II was separated from most of her family on Friday and spent Christmas at Windsor Castle with her husband, Prince Philip, rather than Sandringham as is her usual tradition.

When she turned to the nation, she offered a historical perspective, citing the example of Florence Nightingale, who was born two centuries ago this year.

“Florence Nightingale shone a lamp of hope all over the world,” said the Queen. “Our frontline services still shine for us today – supported by the amazing achievements of modern science – and we are indebted to them. We continue to be inspired by the kindness of strangers and comfort ourselves that even on the darkest of nights there is hope in the new dawn. “

Categories
Health

Covid-19 vaccine shortfalls attributable to confusion over FDA necessities

Employees move boxes of Pfizer-BioNTech Covid-19 vaccine as they prepare for shipment at Pfizer Global Supply’s Kalamazoo manufacturing facility in Kalamazoo, Michigan on December 13, 2020.

Morry Gash | AFP | Getty Images

Officials at Operation Warp Speed, the U.S. government’s program to distribute Covid-19 vaccines to Americans, had to cut doses for several states due to confusion over the U.S. Food and Drug Administration’s certificate of analysis for rounds of vaccination.

The federal government’s mistake disrupted vaccination distribution plans in at least 14 states and frustrated governors and state health officials who said they were surprised to learn of shipping shortages.

Operation Warp Speed ​​has put 2 million Pfizer vaccine doses ready for delivery next week, after the US shipped 2.9 million doses last week. Officials also plan to ship 5.9 million doses of Moderna’s vaccine this week.

Dr. Moncef Slaoui, chief advisor to Operation Warp Speed, said the agency mistakenly assumed that Pfizer’s vaccine was ready to ship when there was actually a two-day delay in which the FDA required a certificate of analysis for each batch of vaccines.

“This delay has led to differences in the plan and in the actual measures,” Slaoui said in an interview on CNN’s State of the Union on Sunday. “We’ve looked at it and optimized what we’re doing every day.”

The FDA requires a certificate of analysis for each round of Pfizer vaccines at least 48 hours prior to distribution, but does not require the certificate to be verified prior to shipment. The certificate contains quality control test results and is required when Pfizer uses an emergency approval under the FDA.

Former GlaxoSmithKline pharma executive Moncef Slaoui, who will serve as the chief advisor in the search for a vaccine against the coronavirus disease (COVID-19) pandemic, speaks while President Donald Trump during a coronavirus response event Illness in the rose garden at the White Hearts House in Washington.

Kevin Lamarque | Reuters

Operation Warp Speed’s Chief Operating Officer, General Gustave Perna, who is responsible for the logistics for shipping the vaccines, repeatedly apologized for smaller vaccine shipments on Saturday and took responsibility for the “planning error”.

“The mistake I made is not really understanding – again my responsibility – what steps are needed to make sure the vaccine is releasable,” Perna said at a press conference.

States where fewer than expected numbers occur include Washington state, New Jersey, Virginia, Idaho, Michigan, Connecticut, California, Nevada, Minnesota, Wisconsin, Vermont, Massachusetts, Iowa, and Oregon.

Washington Governor Jay Inslee said Thursday that the Centers for Disease Control and Prevention had told him that vaccine allocations for his state had been cut by 40% and that other states had similar deficits.

General Gustave Perna, Chief Operating Officer for the Department of Defense’s Warp Speed ​​Project, speaks during a White House Coronavirus Task Force press conference in the James Brady Press Room at the White House in Washington, DC on November 19, 2020.

Tasos Katopodis | Getty Images News | Getty Images

“It’s disruptive and frustrating. We need accurate, predictable numbers to plan and ensure on-site success,” wrote Inslee in a tweet. “No explanation was given.”

Pfizer spokeswoman Kim Bencker told CNBC in an email after Perna apologized that the company had millions of cans in warehouses ready to ship once the company received confirmation from Operation Warp Speed.

“We remain confident that we can dispense up to 50 million doses worldwide this year and up to 1.3 billion doses next year,” said Bencker.

U.S. Surgeon General Jerome Adams said the introduction of the vaccine will be the toughest vaccination program in history, warning that there will be inconsistencies in the number of planned doses and the doses actually allocated.

“This will be the technically and logistically most difficult vaccination project of all time,” said Adams on Sunday in an interview with CBS ‘”Face The Nation”. “We started slowly and will continue to grow. The American people should be hopeful about the vaccines, but we also need to remain vigilant.”

– CNBC’s Noah Higgins-Dunn contributed to the coverage