Page 120 - United States

GM overcomes US sales drop; China JV losses drag Q3 profit to $3 bn

US sales are down and a once-reliably profitable joint venture in China is losing money, but General Motors still managed to post a third quarter profit of $3 billion Tuesday, slightly less than it made a year ago. The Detroit automaker reported $48.8 billion in revenue from July through September, 10% more than last year, aided by US average vehicle sale prices that were steady with last quarter at over $49,000. Chief Financial Officer Paul Jacobson said that while overall sales in the US, GM's most profitable market, fell 2.2% in the quarter, much of that drop was from sales to large fleet buyers. Sales to individuals, which generally are more profitable, rose 3%. While other automakers have gotten stuck with too many high-priced vehicles when many buyers are looking for lower costs, GM has yet to see such a shift, Jacobson told reporters. I think that the consumer has held up remarkably well for us, he said, adding that next year should be consistent with this year as the Federa

Rupee turns flat at 84.07 against US dollar on foreign fund outflow

The rupee stayed flat at 84.07 against the US dollar in early trade on Tuesday as positive sentiment in domestic equity markets was negated by the unabated outflow of foreign funds. The local unit resisted the fall on the back of the retreating dollar and a downward movement in the crude oil prices, forex traders said. At the interbank foreign exchange, the rupee opened at 84.07 against the greenback and traded on a flat note in early deals. On Monday, the rupee settled flat at 84.07 against the US dollar, a tad higher from its all-time low of 84.10 recorded on October 11. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 103.79. Brent crude, the international benchmark, declined 0.22 per cent to USD 74.13 per barrel in futures trade. On the domestic equity market front, Sensex rose 180.46 points, or 0.22 per cent, to 81,331.73 points. The Nifty also advanced 61.25 points, or 0.25 per cent, to 24,842.35

DeSantis using state money, power to fight abortion rights' measure

After a month of updating Floridians on hurricanes, Republican Gov. Ron DeSantis is now focusing his official office on fighting an abortion rights amendment, holding a campaign-like rally at state expense two weeks before the election. DeSantis' event Monday, which was capped with a prayer from the archbishop of Miami and the lieutenant governor asking people to not vote like atheists, came after the Department of Health's top lawyer resigned over a letter he said the governor's office forced him to send to television stations in an effort to stop a pro-Amendment 4 ad. When you're dealing with constitutional amendments your default should always be no, DeSantis said at the event attended by doctors who opposed the abortion amendment. You can always alter normal policies and legislation. Once it's in the constitution, that's forever. You really have zero chance of ever changing. it. Just before the event, former Department of Health top lawyer John Wilson signed an affidavit stating

US Secy Blinken takes off in 11th attempt to reach Middle East ceasefire

President Joe Biden's decision to send Hochstein this week is signaling the urgency of a lasting cease-fire in Lebanon

Not looking at Brics as evolving into some kind of geopolitical rival: US

On October 18, Russian President Vladimir Putin echoed Prime Minister Narendra Modi's stance on Brics, emphasizing that the grouping is not anti-Western but rather non-Western

Harris raises $633 million in 3rd quarter but spends heavily in final push

Kamala Harris' campaign and affiliated Democratic groups raised about USD 633 million for the quarter, which ended last month, pushing their total to over USD 1 billion while maintaining a large financial advantage over Republican candidate Donald Trump in the presidential election's final sprint. The vice president's campaign, the Democratic National Committee and state parties raised more than USD 359 million in September alone. Harris' campaign raised about USD 222 million in September. Harris' team alone spent more than it took in last month, paying out about USD 270 million to help boost a large advertising push, as it works to reach voters on the radio, television, online, billboards and other avenues. The Harris campaign and affiliated committees entered October with USD 346 million on hand, according to federal filings. The Trump campaign, the Republican National Committee and affiliated groups previously reported raising USD 160 million in September up from the USD 130 ...

Great Learning registers 23% revenue growth at $118 million in FY24

EdTech company Great Learning on Monday said it has registered a 23 per cent year-on-year growth in revenue to USD 118 million (about Rs 992 crore) in the financial year 2024. The company said it has registered growth on account of upskilling demand for artificial intelligence and business gains in the US and Europe. "Revenue was USD 118 million, and both EBITDA and net profit were positive for the fiscal year," the company said in a statement. Great Learning was acquired by Byju's in 2021. In Oct 2023, its financial lenders took control of Byju's ownership in Great Learning to safeguard and protect it, the statement said "The company's noteworthy performance in FY24 comes on the back of its emergence as a leading global provider of AI upskilling while maintaining a sharp focus on profitability. Great Learning continues to see robust growth in international markets, such as North America and Europe," the statement said. Founded 11 years ago, Great Learning offers professional ...

US envoy Hochstein to hold ceasefire talks with Lebanese officials

While Hochstein is likely to push for calm after a year of fighting during which Israel killed leaders of both Hezbollah in Lebanon

US military says THAAD anti-missile system is 'in place' in Israel

THAAD, or the Terminal High Altitude Area Defense system, is a critical part of the US military's layered air defense systems

Biden, US first lady toast unveiling of long-awaited reimagined WH tour

President Joe Biden and first lady Jill Biden on Sunday toasted the unveiling of a long-awaited reimagined public White House tour. The couple held a dinner in celebration of the first lady's update of the White House public tour. The updates will be unveiled on Monday. We inspire future generations to write the next chapter of the White House's history, President Biden said in a speech to guests, calling himself and the first lady temporary renters" of the People's House. The president's term ends in just a few months after he decided to end his run for a second term in July. Jill Biden, who led the revamp of the White House tour, said while tonight is the end of one part of our work, it's only the beginning of this new chapter of White House public tours. It's been the honour of my life to serve as your first lady. The updates come amid Washington, DC's so-called shoulder season the period of time between the region's peak tourism season and off season as well as an upcoming

US statements on readiness for nuclear talks 'deception': Sergei Lavrov

The call to talk about strategic stability, about control over nuclear weapons without preconditions is a deception, Lavrov said

Moderate flooding expected from glacial dam outburst in Alaska's capital

A flood warning was issued Saturday after an outburst from a glacial lake in Alaska's capital. Suicide Basin is a side basin of the Mendenhall Glacier above the city of Juneau. Since 2011 it has released glacier lake outburst floods each year that cause inundation along Mendenhall Lake and Mendenhall River. We expect moderate flooding from this event, not major flooding, said Nicole Serrin, warning coordination meteorologist with the National Weather Service in Juneau. Residents had 24 to 36 hours to prepare for flooding, she said. The flood warning was in effect until Monday. The forecast called for the river to crest at around 3.35 to 3.5 metres early that day, the weather service said. Officials warned people to stay away from the river. Recent snow has made the banks very slippery. Suicide Basin fills with rainwater and snowmelt during the spring and summer and at a certain point builds enough pressure to force its way out through channels it carves beneath Mendenhall Glacier

West's failure in Ukraine: Selling out Kyiv would be a shameful betrayal

Fewer American weapons are available for shipment to Kyiv, and the eyes of Western governments are focused overwhelmingly on Israel and Iran

Prez Biden slowly losing Africa; Harris or Trump unlikely to fare better

Whenever the US gets kicked out of a country, moreover, it not only leaves an opening for Russia but also becomes less effective at fighting terrorists in the region

Oil prices show how numb traders are to US sanctions on Iran, Russia

The decline was largely driven by indications that Israel is going to avoid attacking Iran's oil infrastructure - one of the market's big concerns

Chinese drone maker SZ DJI Tech sues Pentagon for military designation

DJI had unsuccessfully attempted to engage with the defence department for more than 16 months on the issue, a spokesperson for the world's largest maker of consumer drones said on Friday

US posts $1.8 trn annual deficit, highest outside of Covid: Treasury data

Treasury officials highlighted that the widening was largely due to accounting for the Biden administration's broad student debt relief plan

US sanctions Chinese firms for manufacturing Russian drones against Ukraine

Senior administration official stated that the US has previously warned Beijing about the network, countering Chinese claims that they are unaware of its existence

US sanctions 2 Indians for alleged ties to Houthis transporting Iranian oil

The US has sanctioned 18 companies and individuals, including two Indians, for their alleged ties to a Houthi network transporting Iranian oil, revenue from which enables Houthi attacks on Israel and disrupting shipping in the Red Sea region. The Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned the companies, including the captains of vessels transporting illicit oil, for their ties to the Islamic Revolutionary Guard Corps-Qods Force-backed Houthi financial official Sa'id al-Jamal and his network, a press release said on Thursday. The 18 companies sanctioned include Marshall Islands-registered Changtai Shipping and Motionavigations Limited and UAE-based Indo Gulf Ship Management. The two Indians sanctioned are linked to the Indo Gulf Ship Management, according to the Treasury Department. The release said that UAE and India-based Indian national Rahul Rattanlal Warikoo acts as the managing director of Indo Gulf Ship Management. He has also served in managemen

Biden to discuss Ukraine with European allies on swansong Berlin trip

Biden, who sought to improve ties with Europe after presidency of Donald Trump, will be greeted with military honors before receiving Germany's highest order of merit from President Frank Steinmeier