By Marianna Parraga HOUSTON (Reuters) – Siemens Energy Inc has filed a lawsuit in a Texas court against Citgo Petroleum’s parent, PDV Holding, seeking to recoup about $200 million from a promissory note defaulted by Venezuela, according to a court document seen on Wednesday. Creditors that are part of an auction of Citgo parent’s shares in a Delaware court to pay billions of dollars for expropriations and debt defaults in Venezuela have begun turning to other U.S. courts to enforce their claims, a strategy to gain priority when the auction’s proceeds are paid. The auction’s second bidding round was completed…
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Aston Martin, a British luxury automaker, has encountered challenges in its production and financial performance. Supply chain disruptions, primarily due to floods and fires affecting European suppliers, have hindered the company’s ability to meet its production targets. Additionally, slowing demand in the Chinese market, a significant market for luxury vehicles, has further impacted sales. Moreover, excess inventory of pre-facelift models has discouraged potential buyers from making purchases, as they await the release of updated versions with improved features. These factors have led to a revision of Aston Martin’s sales projections for 2024, with the company now aiming for approximately 6,000…
Stocks rose for a second day Wednesday, with the S&P 500 jumping to a new record, as technology stocks powered higher and investors shook off geopolitical concerns.The S&P 500 and Nasdaq Composite added 0.5% and 0.4%, respectively, while the Dow Jones Industrial Average surged 390 points, or 0.9%.Technology stocks spearheaded the rally, with Microsoft, Amazon and Apple last up 1% each. Super Micro Computer rallied 7%. Wednesday’s gains helped correct a bumpy start to October, pushing the major averages into positive territory for the month.Stocks maintained their gains after minutes from the Federal Reserve’s September meeting, where it cut by…
Palantir now owns 8.7% of struggling electric vehicle startup Faraday Future, according to a new filing with the U.S. Securities and Exchange Commission.The data-mining company was granted more than 800,000 shares in the EV startup on October 2 “as payment for certain outstanding receivables” — the equivalent of roughly $2.4 million judging by Faraday Future’s stock price on that day. Palantir doesn’t explicitly say what receivables were outstanding. But the companies quietly entered a settlement earlier this year after the EV startup stopped paying the data company for services it agreed to buy all the way back in 2021.Palantir revealed…
The Tesla Model 3 Performance, a renowned high performance sedan, has recently demonstrated its exceptional capabilities on the racetrack. With its impressive acceleration, handling, and advanced technology, this electric vehicle has set new records at Laguna Seca, surpassing even its previous iteration. The Unplugged Performance team, known for their commitment to electric vehicle motorsport, has been instrumental in showcasing the Model 3 Performance’s potential. Their heavily modified Model S, “The Dark Helmet,” has already made waves in the racing community. Tesla Model 3 Performance Dominates Laguna Seca with Unplugged Racing Mods (Unplugged Performance) Now, they are turning their attention to…
Cadillac’s resurgence in the luxury car market is a testament to its commitment to innovation and design. The brand has successfully expanded its lineup to include a diverse range of vehicles, from performance oriented sedans like the CT4 and CT5 to spacious SUVs like the Escalade and XT6. The addition of electric vehicles such as the Lyriq and Escalade IQ demonstrates Cadillac’s dedication to sustainability and cutting edge technology. Beyond its production models, Cadillac’s unofficial design projects showcase the brand’s creative vision and potential for future growth. The 2025 Caddy XLR revival, for example, offers a look into a potential…
Wednesday’s market has seen notable movements among stocks across various capitalization ranges. In the mega-cap and large-cap categories, IBM (NYSE:) has shown a robust increase, while Google Inc (NASDAQ:) has experienced a downturn. Carnival Corp-Exch (NYSE:) surged, and Constellation Energy Group-Exch (CEG) faced a significant drop. Here’s a closer look at some of the day’s big stock movers, from mega-caps to small caps. Mega-Cap Movers (Market Cap $200B+):IBM (IBM) to Announce Third-Quarter 2024 Financial Results, target raised at BofA; +2.56%Google Inc (GOOGL); falls on concerns DoJ could force break-up; -2.34%Avago Technologies (AVGO); +2.18% Pinduoduo (NASDAQ:); consolidates recent gains; -2.00% Costco…
The Chevrolet Chevelle, introduced in 1964 to compete with the downsized Ford Fairlane, evolved into a formidable muscle car by the late 1960s. While this was common for midsize cars of the era, the Chevelle’s most powerful version, the 1970 SS 454 LS6, stands out as a particularly exceptional achievement. Equipped with a 454 cubic inch LS6 V8 engine that produced a staggering 450 horsepower, the Chevelle SS 454 LS6 surpassed even the legendary Chrysler HEMI in terms of power output. The LS6 engine, essentially an LS5 with increased displacement and performance enhancements, delivered an impressive 450 horsepower and 500…
The XTRK from Ultimate Campers is a travel trailer that defies convention. Built to withstand the harsh Australian Outback, it’s a testament to rugged durability and off grid capability. This award winning camper has proven its mettle in some of the world’s most inhospitable places, making it a favorite among those who crave adventure and independence. With its robust construction, advanced features, and versatile design, the XTRK offers an unparalleled camping experience. Its off road capabilities allow it to traverse rugged terrain with ease, while its interior is thoughtfully designed to provide comfort and convenience. From its spacious kitchen to…
By Michael Martina, David Brunnstrom and Trevor Hunnicutt WASHINGTON (Reuters) -China has no justification for using an annual national day speech by Taiwan as a pretext for military pressure, the United States said on Wednesday, ahead of scheduled remarks by the island’s president that Taiwan officials say Beijing is likely to follow with military drills. Taiwan President Lai Ching-te is set to say in his national day speech on Thursday that China continues to harass the democratically governed island militarily and psychologically, and has been using every possible means to cause “chaos”. A senior U.S. administration official told reporters the…