October 17, 2021

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‘Revenue Over Security’

‘Profit Over Safety’

Airways introduce extra coronavirus vaccine mandates. American, Alaska Air and JetBlue would require staff to get inoculated, following United’s lead. The airways mentioned that as authorities contractors, new guidelines require them to mandate vaccines by Dec. 8, though Delta mentioned it was nonetheless evaluating its choices.

Traders eye the fourth quarter warily. Final month, the S&P 500 suffered its largest month-to-month drop for the reason that begin of the pandemic, and the present subsequent quarter is ready to be bumpy, investors told The Times. Slowing progress, rising inflation, provide chain disruptions, political gridlock, the tip of Fed stimulus and the persistent menace of Covid are all hanging over the market.

Tesla reviews file quarterly deliveries. Regardless of the worldwide chip scarcity that has hit its rivals, Tesla delivered nearly 1 / 4 of one million electrical automobiles worldwide within the third quarter, greater than 70 % increased than the earlier 12 months.

Engine No. 1, the activist funding agency that made its identify by successfully taking on Exxon, will formally announce at this time that it has taken a stake in Normal Motors. Not like its bruising battle with Exxon, the acquisition is pitched as a present of help for the automaker’s transition to electrical automobiles.

G.M. ought to be value much more than it’s now, the activist mentioned. In a white paper launched forward of the automaker’s investor day on Wednesday, Engine argued that G.M. deserves the next valuation due to its scale and dedication to electrical automobiles. G.M.’s shares are up about 31 % this 12 months, giving the corporate a market cap of $77 billion, or a couple of tenth the worth of Tesla.

The funding agency first took a stake within the first quarter. It declined to reveal the dimensions of its place, however mentioned it’s among the many three largest in its non-public fund. (The agency’s positions have been comparatively small thus far.) Engine has met informally with the carmaker’s administration, together with C.E.O. Mary Barra, and has no plans to launch a proxy struggle because it did at Exxon, Engine’s founder, Chris James, advised DealBook.

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