U.S. business inventories rise solidly, but auto stocks fall

U.S. business inventories rise solidly, but auto stocks fall

U.S. business inventory accumulation increased solidly in August, though motor vehicle retailers continued to struggle to restock amid an ongoing global semiconductor shortage, which is forcing automobile manufacturers to cut production. Business inventories rose 0.6% after a similar gain in July, the Commerce Department said on Friday. Inventories are a key component of gross domestic product. August’s increase was in line with economists’ expectations. Inventories increased 7.4% on a year-on-year basis in August. Retail inventories gained 0.1% in August as estimated in an advance report published last month. That followed…

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Coronavirus expected to cripple US auto sale; companies push for 0% financing, online buying

Coronavirus expected to cripple US auto sale; companies push for 0% financing, online buying

Automakers are offering 0% financing, deferred payments and online tools to assist vehicle sales as the coronavirus pandemic cripples the auto industry. Due to skyrocketing jobless claims, weakening consumer confidence and state orders for residents to stay at home, automakers are expected to report their worst sales declines in years. As of Monday, 35 states had enacted “stay at home” or “essential business” mandates, according to J.D. Power. Automakers are offering 0% financing, deferred payments and online tools in an attempt to salvage sales as the coronavirus pandemic cripples the auto…

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Coronovirus brings money crisis for the U.S. Olympic sports & games

Coronovirus brings money crisis for the U.S. Olympic sports & games

The postponement of the Tokyo Games has catapulted the sports organizations that make up the backbone of the U.S. Olympic team into crisis. At least one has already started layoffs and others are desperate to stay solvent. Some are expecting a major downturn in membership dues, while others are reeling from event cancellations totaling more than 8,000 across all sports. A database analyzed by The Associated Press shows combined projected losses of more than $121 million in revenue between February and June for 43 of the 50 national governing bodies…

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Canada actor’s union imposes news rules for filming nudity, simulated sex & sexual violence.

Canada actor’s union imposes news rules for filming nudity, simulated sex & sexual violence.

ACTRA’s best practices go beyond intimacy coordinators to protect actors during nude and simulated sex scenes from auditions and closed sets to the edit suite. Canada’s actors union, ACTRA, on Friday unveiled “best practices” to protect actors in scenes involving nudity, intimacy, simulated sex and sexual violence. The Canadian guidance includes the use of intimacy coordinators as already recommended stateside by SAG-AFTRA. But the ACTRA guidelines, hammered out in the wake of the #MeToo movement, also cover auditions and nude, intimate and simulated sex scenes from preproduction through to postproduction….

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Mercedes unveils its newest luxury SUV and it’s loaded with technology

Mercedes unveils its newest luxury SUV and it’s loaded with technology

Mercedes-Benz today unveiled its next-generation GLE SUV, adding a range of convenience, performance, and safety technologies, along with some all-new engines. The automaker says the midsized GLE is more comfortable on the road while still delivering strong off-road performance. And it has gotten roomier as well. The GLE has some ground to make up in CR’s road tests because the current version trails several key competitors, including the newer Audi Q7 and BMW X5. The turbocharged four- and six-cylinder engines, nine-speed automatic transmission, and aerodynamic improvements may help address some fuel-economy…

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General Motors puts $1bn India plan ‘on hold’

General Motors puts $1bn India plan ‘on hold’

General Motors has put on hold a planned $1bn investment in India as it reassesses its strategy in the country. Its sales in India have fallen nearly 40%, and its share of the passenger vehicle market has also dropped. A regulatory crackdown on diesel vehicles has also led the company to rethink its plans. More than 5,000 new cars are sold in India every day – and it is forecast to be the world’s third biggest vehicle market by 2020. In 2015, Ford committed to investing $1bn (£760m) in India…

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