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June 23 - Asian stocks are poised for a higher open as market optimism about progress in US-Iran peace talks boosts oil prices, offsetting weakness in Wall Street stocks after declines in several tech giants dragged down benchmark indices. Stock index futures suggest gains in Sydney, Hong Kong, and Tokyo markets. SpaceX shares plunged 16% on Monday after announcing a large-scale investment-grade bond issuance. Market expectations of a US-Iran agreement, coupled with a recovery in AI trade and robust corporate earnings, have propelled the S&P 500 nearly 20% from its war-induced lows. UBSs Chief Investment Office stated that while geopolitical developments may remain a major source of market volatility in the short term, shifts in investor confidence regarding the sustainability of the AI rally could also cause market fluctuations.Air raid sirens have been issued in Kyiv, Ukraine, and the government is urging residents to seek refuge.June 23 – According to CNN, citing a source familiar with the matter, a large-scale layoff initiated by Bill Pulte, acting Director of National Intelligence appointed by US President Trump, began on Monday. The source stated, "The purge of the deep state has begun," but declined to specify the number of positions to be cut. Previously, sources indicated that Pulte was considering cutting hundreds of positions in the Office of the Director of National Intelligence (ODNI). The source said that Pulte arrived at his post the day before his official start date last week and requested a complete list of all office staff, a move that even caught outgoing Director of National Intelligence Gabbard off guard. Another source indicated that the National Counterterrorism Center and the National Counterintelligence and Security Center are expected to be the primary targets of the layoffs.Bloomberg Equity Indexes: SpaceX will be included in the large-cap segment of the Bloomberg Global Equity Indexes at the close of trading on June 24, 2026.① Iran 1. Iranian Parliament Speaker: Iran and the US should jointly safeguard Lebanons territorial integrity. 2. Iranian Foreign Ministry Spokesperson: Tehrans interactions with the International Atomic Energy Agency (IAEA) will require approval from the Iranian parliament and a decision from the Supreme National Security Council. 3. Acting Iranian Defense Minister: The armed forces are on high alert; any new provocations or miscalculations by aggressors will be met with a stronger response than ever before. ② US 1. Vance: A de-escalation mechanism for the Lebanese conflict has been established. 2. Vance stated that Iran has agreed to invite IAEA inspectors for a return visit, which was refuted by Iran. 3. Trump stated that Iran will agree to accept weapons inspections to ensure its long-term "nuclear integrity." 4. US officials stated that the US has established a "monitoring mechanism" for the situation in Lebanon. 5. Trump: If Iran does not comply with the agreement, I will take necessary measures. ③ Israel 1. Israel stated that it will continue to take action to destroy military facilities in southern Lebanon. 2. Israeli Prime Minister: The Israel Defense Forces can operate freely in southern Lebanon to counter threats. ④ Ceasefire Negotiations 1. Qatar and Pakistan Joint Statement: The first round of high-level talks between the US and Iran has concluded, and all parties have finalized a 60-day roadmap. 2. Iranian Foreign Ministry: Technical talks between Iran and the US have begun in Switzerland. 3. Irans chief negotiator: An agreement on unfreezing $12 billion in Iranian assets has been finalized. 4. Vance said the Swiss negotiations were productive, but warned, "Dont trust anyone." 5. Iranian President: Iran will never yield to excessive demands. ⑤ Strait of Hormuz 1. British media: More than 400 ships waited in the Strait of Hormuz during the Iran-US consultations. 2. Iranian Parliament Speaker: The Strait of Hormuz will be managed according to the mechanism established by Iran. 3. Joint Maritime Information Center (JMIC): The maritime security threat level in the Strait of Hormuz has been downgraded to "moderate." 4. Irans chief negotiator: An agreement has been reached to establish communication channels regarding the passage of ships in the Strait of Hormuz. ⑥ Other Circumstances 1. The Iranian President will visit Pakistan on Tuesday. 2. The U.S. Treasury Department issued a 60-day temporary general license authorizing Iran to sell oil. 3. It is reported that Iran exported 30 million barrels of crude oil in the week before the U.S. sanctions waiver. 4. Hezbollah leader: Will respond to any Israeli aggression.

Parts Scarcity Forces Ford and GM to Shut Down Two Michigan Factories

Aria Thomas

Apr 01, 2022 09:55

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Ford, the United States' No. 2 manufacturer, announced it will halt production at its Flat Rock Assembly Plant, where the Mustang is built, next week due to a worldwide semiconductor shortage.


GM said that it will halt production at its Lansing Grand River assembly plant next week due to a temporary component shortage. The plant produces the Cadillac CT4, Cadillac CT5, and Chevrolet Camaro. GM said that the manufacturing pause was not connected to chips but did not give any details.


The automotive sector is now battling a worldwide chip scarcity caused by the COVID-19 epidemic, which has forced firms to reduce output, while high vehicle prices have largely offset the financial effect.


Ford warned last month that the chip shortfall would result in a reduction in current-quarter car sales. Ford paused production at its Kansas City assembly plant, which produces F-150 pickup trucks, for a week last month owing to a chip shortage.


Ford Motor Company, located in Dearborn, Michigan, said that manufacturing at its other North American factories would continue as usual.


GM said last week that it will cease production at a Fort Wayne, Indiana, assembly facility that makes the Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks for two weeks starting April 4 due to a semiconductor chip shortage.