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Count Rossi's Street-Legal Porsche 917 in Photos

Count Rossi's Street-Legal Porsche 917 in Photos

Yahoo26-04-2025
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Count Rossi's Porsche 917
The race car was converted for road use in 1975
The dashboard was covered in suede
The tan leather seats were commissioned from Hermes
The 917 drove from the factory to Paris
Gregorio Rossi di Montelera and his street-legal Porsche 917
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Tesla Forced to Cut EV Leasing Prices by 40% in UK Amid Sales Slump
Tesla Forced to Cut EV Leasing Prices by 40% in UK Amid Sales Slump

Business Insider

timean hour ago

  • Business Insider

Tesla Forced to Cut EV Leasing Prices by 40% in UK Amid Sales Slump

American electric vehicle (EV) maker Tesla (TSLA) is forced to offer up to a 40% discount to its EV leasing companies in the UK to counter a slump in sales. The news was first reported by The Times, citing industry sources. British motorists can lease a Tesla EV for just over half of what they paid last year. Two main reasons cited for this discount are the sales slump and a lack of storage space caused by unsold Tesla EVs in the UK. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. In July, Tesla's UK sales plunged by nearly 60% to 987 units, according to data from the Society of Motor Manufacturers and Traders (SMMT). Tesla is facing intense competition from Chinese EV makers, especially BYD (BYDDF), which has been rapidly growing its footprint globally. Tesla's EV market share dropped to 0.7% in July, while BYD's grew to 2.3% of all new EV registrations in the UK. How Will Discounted EV Leasing Help Tesla? Tesla is offering up to a 40% discount to leasing companies, who will in turn pass the discounts on to final consumers in the form of cheaper monthly plans. For example, a Tesla Model 3 can now be leased for merely £252 a month plus VAT on a 36-month lease at Silverstone Leasing, one of Tesla's partners in the UK. Comparatively, last year, a Tesla Model 3 lease would cost customers between £600 and £700 a month. Furthermore, Tesla is offering zero-interest finance deals for its EVs in retail stores to boost sales. This move is expected to cost Tesla $6,000 over three years for a £40,000 EV. These steps also ensure that Tesla shifts more units without dropping the headline price of vehicles. Tesla is responding to the sales slump by offering financial incentives to both leasing companies and end consumers. Meanwhile, in Canada, Tesla is offering unlimited lifetime Supercharging on all new Model 3 inventory vehicles to boost sales of new EVs. It remains to be seen how these promotional efforts will help Tesla regain lost market share in the highly competitive EV market. Is TSLA Stock a Good Buy? Wall Street remains cautious about Tesla's long-term stock outlook. On TipRanks, TSLA stock has a Hold consensus rating based on 14 Buys, 15 Holds, and eight Sell ratings. The average Tesla price target of $307.23 implies 7.1% downside potential from current levels. Year-to-date, TSLA stock has lost 18.2%.

Cleveland-Cliffs Applauds New Section 232 Tariff Coverage of Electrical Steel and Stainless Steel Derivative Products
Cleveland-Cliffs Applauds New Section 232 Tariff Coverage of Electrical Steel and Stainless Steel Derivative Products

Business Wire

time2 hours ago

  • Business Wire

Cleveland-Cliffs Applauds New Section 232 Tariff Coverage of Electrical Steel and Stainless Steel Derivative Products

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) applauded today's action by the U.S. Department of Commerce to include as derivative products subject to Section 232 steel tariffs electrical steel laminations and cores, as well as certain stainless steel automotive exhaust parts. Following a recent determination under the U.S. Department of Commerce's new Section 232 tariff inclusion process, effective today, steel content in these products will be subject to 50% steel tariffs. Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer, stated: 'Cleveland-Cliffs thanks President Donald Trump and Secretary of Commerce Howard Lutnick for taking decisive and concrete action that will deter tariff circumvention occurring in plain sight with stainless and electrical steel derivative products. Since we acquired AK Steel Corporation a few years ago, we have identified and denounced circumvention schemes through Mexico and Canada involving derivative products using steel melted and poured outside of North America. This practice, which has been accepted and supported by both Canada and Mexico -- despite its inherent conflict with the original intent of the USMCA trade agreement -- has ultimately turned into a blatant tariff evasion subterfuge. Today's action taken by the Secretary of Commerce gives us certainty that the American domestic market will not be undercut by unfairly traded steel embedded in derivative products. That allows us to continue to invest in our stainless steel operations in Coshocton, OH and Mansfield, OH, as well as in our electrical steel operations in Butler, PA and Zanesville, OH, in support of our domestic clients producing Made in USA cars, appliances, and electrical transformers.' About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with a focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 30,000 people across its operations in the United States and Canada. For more information, visit Forward-Looking Statements This release contains statements that constitute "forward-looking statements" within the meaning of the federal securities laws. All statements other than historical facts, including, without limitation, statements regarding our current expectations, estimates and projections about our industry or our businesses, are forward-looking statements. We caution investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements. Among the risks and uncertainties that could cause actual results to differ from those described in forward-looking statements are the following: continued volatility of steel, scrap metal and iron ore market prices, which directly and indirectly impact the prices of the products that we sell to our customers; uncertainties associated with the highly competitive and cyclical steel industry and our reliance on the demand for steel from the automotive industry; potential weaknesses and uncertainties in global economic conditions, excess global steelmaking capacity and production, prevalence of steel imports, reduced market demand and oversupply of iron ore; severe financial hardship, bankruptcy, temporary or permanent shutdowns or operational challenges of one or more of our major customers, key suppliers or contractors, which, among other adverse effects, could disrupt our operations or lead to reduced demand for our products, increased difficulty collecting receivables, and customers and/or suppliers asserting force majeure or other reasons for not performing their contractual obligations to us; risks related to U.S. government actions and other countries' reactions with respect to Section 232 of the Trade Expansion Act of 1962 (as amended by the Trade Act of 1974), the United States-Mexico-Canada Agreement and/or other trade agreements, tariffs, treaties or policies, as well as the uncertainty of obtaining and maintaining effective antidumping and countervailing duty orders to counteract the harmful effects of unfairly traded imports; impacts of existing and changing governmental regulation, including actual and potential environmental regulations relating to climate change and carbon emissions, and related costs and liabilities, including failure to receive or maintain required operating and environmental permits, approvals, modifications or other authorizations of, or from, any governmental or regulatory authority and costs related to implementing improvements to ensure compliance with regulatory changes, including potential financial assurance requirements, and reclamation and remediation obligations; potential impacts to the environment or exposure to hazardous substances resulting from our operations; our ability to maintain adequate liquidity, our level of indebtedness and the availability of capital could limit our financial flexibility and cash flow necessary to fund working capital, planned capital expenditures, acquisitions, and other general corporate purposes or ongoing needs of our business, or to repurchase our common shares; our ability to reduce our indebtedness or return capital to shareholders within the currently expected timeframes or at all; adverse changes in credit ratings, interest rates, foreign currency rates and tax laws; challenges to successfully implementing our business strategy to achieve operating results in line with our guidance; the outcome of, and costs incurred in connection with, lawsuits, claims, arbitrations or governmental proceedings relating to commercial and business disputes, antitrust claims, environmental matters, government investigations, occupational or personal injury claims, property-related matters, labor and employment matters, or suits involving legacy operations and other matters; supply chain disruptions or changes in the cost, quality or availability of energy sources, including electricity, natural gas and diesel fuel, critical raw materials and supplies, including iron ore, industrial gases, graphite electrodes, scrap metal, chrome, zinc, other alloys, coke and metallurgical coal, and critical manufacturing equipment and spare parts; problems or disruptions associated with transporting products to our customers, moving manufacturing inputs or products internally among our facilities, or suppliers transporting raw materials to us; the risk that the cost or time to implement a strategic or sustaining capital project may prove to be greater than originally anticipated; our ability to consummate any public or private acquisition or divestiture transactions and to realize any or all of the anticipated benefits or estimated future synergies, as well as to successfully integrate any acquired businesses into our existing businesses; uncertainties associated with natural or human-caused disasters, adverse weather conditions, unanticipated geological conditions, critical equipment failures, infectious disease outbreaks, tailings dam failures and other unexpected events; cybersecurity incidents relating to, disruptions in, or failures of, information technology systems that are managed by us or third parties that host or have access to our data or systems, including the loss, theft or corruption of our or third parties' sensitive or essential business or personal information and the inability to access or control systems; liabilities and costs arising in connection with any business decisions to temporarily or indefinitely idle or permanently close an operating facility or mine, which could adversely impact the carrying value of associated assets, trigger contractual liabilities or termination costs, and give rise to impairment charges or closure and reclamation obligations, as well as uncertainties associated with restarting any previously idled operating facility or mine; our ability to realize the anticipated synergies or other expected benefits of the acquisition of Stelco, as well as the impact of additional liabilities and obligations incurred in connection with the Stelco acquisition; our level of self-insurance and our ability to obtain sufficient third-party insurance to adequately cover potential adverse events and business risks; uncertainties associated with our ability to meet customers' and suppliers' decarbonization goals and reduce our greenhouse gas emissions in alignment with our own announced targets; challenges to maintaining our social license to operate with our stakeholders, including the impacts of our operations on local communities, reputational impacts of operating in a carbon-intensive industry that produces greenhouse gas emissions, and our ability to foster a consistent operational and safety track record; our actual economic mineral reserves or reductions in current mineral reserve estimates, and any title defect or loss of any lease, license, option, easement or other possessory interest for any mining property; our ability to maintain satisfactory labor relations with unions and employees; unanticipated or higher costs associated with pension and other post-employment benefit obligations resulting from changes in the value of plan assets or contribution increases required for unfunded obligations; uncertain availability or cost of skilled workers to fill critical operational positions and potential labor shortages caused by experienced employee attrition or otherwise, as well as our ability to attract, hire, develop and retain key personnel; and potential significant deficiencies or material weaknesses in our internal control over financial reporting. For additional factors affecting the business of Cliffs, refer to Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2024, and other filings with the U.S. Securities and Exchange Commission.

Gavin Newsom's Odds of Beating AOC for 2028 Nomination Widen
Gavin Newsom's Odds of Beating AOC for 2028 Nomination Widen

Newsweek

time2 hours ago

  • Newsweek

Gavin Newsom's Odds of Beating AOC for 2028 Nomination Widen

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. California Governor Gavin Newsom's chances of beating New York Representative Alexandria Ocasio-Cortez (AOC) to win the Democratic presidential nomination in 2028 are increasing. According to online betting website Polymarket, a platform where users can place "yes" or "no" bets on the likelihood of world events, Newsom is leading the progressive firebrand by 7 percentage points in a hypothetical matchup that also includes other high-profile Democratic figures. This is 3 percentage points more than earlier this month, when he was 4 percentage points ahead of AOC. Why It Matters While neither Newsom nor AOC have formally announced their candidacy in the 2028 Democratic primaries, they have not ruled it out. They have both been mentioned as figures who could lead the Democratic Party into the next election, following then-Vice President Kamala Harris' loss to Donald Trump in the 2024 presidential election. California Gov. Gavin Newsom speaks during a news conference Thursday, Aug. 14, 2025, in Los Angeles. California Gov. Gavin Newsom speaks during a news conference Thursday, Aug. 14, 2025, in Los Angeles. AP Photo/Marcio Jose Sanchez Whoever emerges as the next party leader will shape the Democratic narrative for change and hold a lot of responsibility for healing internal divisions in the party and leading it to electoral success. What To Know Newsom has sparked speculation that he might run for president because he has delivered a number of speeches around the country and he has been among the leading candidates in most polls of the 2028 primary. Meanwhile, AOC has posted campaign-style social media videos and toured the country with Vermont Senator Bernie Sanders earlier this year. The betting odds also showed former Transportation Secretary Pete Buttigieg has a 9 percent chance of winning the nomination while Maryland Governor Wes Moore is on 6 percent. Harris is at 5 percent. What People Are Saying Speaking to Newsweek, Mark Shanahan who teaches American politics at the University of Surrey in the U.K, said: "We are incredibly early in the presidential election cycle with campaigning proper still years down the line. But everything Gavin Newsom is doing suggests he's serious about running in 2028. This started last year when he didn't put his hat in the running once Joe Biden relinquished the Democrat nomination, and has continued through building a sizeable war chest, building his public profile beyond California through everything from the regular media round to launching his own podcast, presenting California as a bastion against presidential overreach, and now mocking Trump through memes and X posts. "At this stage in the cycle, it's all about getting yourself known, both personally and by what you stand for. AOC is well known but currently her left-leaning makes her less attractive to center-right voters who could be wooed away from Trump. Resolutely branding himself as centrist, Newsom could reach the parts of the electorate never open to AOC. He's flying his kite high at the moment and all the signs are this will lead to a serious run in 2028." In June 2025, Newsom told the Wall Street Journal: "I'm not thinking about running, but it's a path that I could see unfold." In April, AOC told a Fox News Digital reporter: "Frankly, what people should be most concerned about is the fact that Republicans are trying to cut Medicaid right now and people's healthcare. It's a danger and that's really what my central focus is." What Happens Next Whether or not Newsom and AOC run remains to be seen. Candidates don't tend to announce presidential runs until after the midterm elections which, in this cycle, are slated for November 2026. Meanwhile, a number of other high-profile Democrats are rumored to be considering a presidential run, including Arizona Senator Ruben Gallego, New Jersey Senator Cory Booker and Michigan Governor Gretchen Whitmer.

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