Mercedes-Benz says it does well though everything Happening in the world, Russia sends less gas to Europe due to everything is happening, And the NHTSA is investigating nearly 2 million vehicles from the Big Three. All that and more in morning shift for Wednesday 27 July 2022.
First gear: Mercedes is doing well, nice, good
Mercedes-Benz says it expects a significant increase in revenue and slightly higher profits in 2022, even though the world is coming to an end on a daily basis. It’s all about the ever-higher car prices and the company’s mix of models.
MB said it was raising its forecast after an 8 percent jump in adjusted profit in the second quarter to $4.97 billion. It had previously said it expected only a slight increase in revenue this year and an equal profit for 2021.
Mercedes also says it has reduced its gas consumption by 10 percent in Europe while maintaining full operations. From Car News:
The company said it could reduce its gas consumption in Germany by 50 percent if regional consolidation occurs. She said she had found a way to run the paint shop at her factory in Sindelfingen without gas in an emergency. The factory builds high-end EQS, S-Class and Maybach electric models.
The deteriorating economic climate weighing on consumers is combining with ongoing struggles to buy enough semiconductors for automakers. The ongoing epidemic lockdowns in China that prevent people from buying cars pose another threat.
However, Mercedes has forecast healthy demand for its models during the second half with strong order books indicating continued demand for available vehicles.
The company also works directly with several microchip makers to make sure the chips continue to flow through the rest of the year.
Second gear: Russia cuts off gas flows to Europe
Russia is delivering less gas to Europe as part of a further escalation of the energy crisis between Moscow and the European Union. It will make it more difficult and more expensive for the EU to fill the storage before the winter heating season.
Apparently, the capacity of the Nord Stream 1 pipeline, the main delivery route for Russian gas to Europe, has been reduced to a fifth of its total capacity. It represents about a third of the total Russian gas exported to Europe. The drop came just one week after the pipeline was restarted after a 10-day scheduled maintenance shutdown. From Reuters:
European Union countries agreed, on Tuesday, to a weak contingency plan to curb gas demand after concluding compromise agreements to limit cuts in some countries, hoping that lower consumption will mitigate the impact if Moscow halts supplies completely.
The plan highlights concerns that countries will not be able to meet targets to refill storage and keep their citizens warm during the winter months and that Europe’s fragile economic growth could suffer another blow if gas rationing is to be made.
Royal Bank of Canada analysts said the plan could help Europe get through the winter provided gas flows from Russia are within 20-50% of capacity, but cautioned against “market complacency, and European politicians have now resolved the issue of Russian gas dependence.” “.
While Moscow blamed various technical problems for cutting supplies, Brussels accused Russia of using energy as a weapon to blackmail the bloc and retaliate against Western sanctions for its invasion of Ukraine.
Kremlin spokesman Dmitry Peskov said Gazprom was supplying Europe with as much gas as possible, adding that technical problems imposed by sanctions with equipment prevented it from exporting more.
Now, countries in Europe are scrambling to make up the difference in lost energy. Germany, the largest importer of Russian gas, may use nuclear power to avoid electricity shortages. The country is now in the second phase of a three-phase emergency gas plan. The final stage will begin as soon as gas rationing cannot be avoided.
Third gear: Two million Detroit cars – three cars checked
US safety regulators have Five separate safety investigations have been opened for about 1.9 million vehicles made by Ford, General Motors and Stellants. According to Auto News. The largest probe covers about 1.3 million Jeep Cherokees built between 2014 and 2020. Water can seep into vehicles and cause the electronic parking brake to activate and stop cars in motion. To date, NHTSA has received 80 complaints.
The agency is also looking at 2016 Dodge Journeysand Jeep Compasses and Jeep Patriots after receiving 127 complaints alleging that the crankshaft or camshaft sensor caused the engines to stall while driving. From Car News:
Fiat Chrysler Automobiles Group, US now Stellantis, recalled some Journey, Compass and Patriot vehicles built between May 9 and July 15, 2016 to resolve the issue in December 2016. Vehicles similar to those identified in the recall, but not included, NHTSA said In its scope, you may also encounter the alleged defect. The agency opened an inquiry about recalling more than 289,000 vehicles for further evaluation and to determine whether more vehicles should be recalled.
The dealership is also investigating 2019-21 Chrysler Pacifica plug-in hybrids after receiving 40 complaints alleging a potential transmission failure that could cause powertrain to stall or lose power. Most of the alleged accidents occurred at speeds above 25 mph and required a vehicle to be towed, according to NHTSA. The safety investigation covers an estimated 21,348 vehicles.
In addition, the agency is launching an investigation into the 2021 Ford Bronco. You can read more about this topic here. NHTSA will also investigate 2020-2021 Cadillac XT5s, XT6s and GMC Acadias after identifying issues with the rear view camera.
According to complaints, the screens of the rear view camera are black or sometimes a red triangle and a circle with a line appear. The investigation covers an estimated 190,151 vehicles.
This case has pounds so farD to a reported accident and 11 complaints to the agency.
Equipment Four: UAW Embezzler Jail for 57 months
A former auto workers union official has been sentenced to 57 months in prison for embezzling more than $2 million from the union.
Timothy Edmonds pleaded guilty in March to embezzlement and money laundering while serving as financial secretary and treasurer of UAW Local 412. The 54-year-old was in the union from 2011 to 2020. From the Detroit news:
Edmunds of Madison Heights is the 17th convicted defendant in a years-long assault on corruption within the auto industry and one of the most powerful unions in the country. He was responsible for managing and investing money for Local 412, which represents about 2,600 workers.
Investigators found that Edmonds used union debit cards for personal purchases, cashed union checks into personal accounts and created fake bank statements to conceal his systematic theft.
Edmunds received $2.1 million from the organization between 2015 and 21, and federal prosecutors said evidence shows he used the money for gambling, cocaine, cars and firearms. Between 2018 and 2020, Edmunds spent $30,000 on a union debit card at Greektown Casino alone.
57 months (approximately five years) It’s not the only punishment Edmonds will face. He will also have to pay $1,963,740 in compensation to 412 locals plus a $1 million fine.
This is the first criminal charge to be filed since the court-appointed corruption watchdog was appointed to oversee reforms at the UAW.
Fifth gear: Strike causes Lufthansa to cancel more than 1,000 flights
Lufthansa had to cancel almost all of its flights from two of its central airports as cabin crew went on strike. It’s a problem that only exacerbates flight disruptions as airlines around the world try to deal with the increasing demands of combat.
The German company says that 678 flights have been packed from Frankfurt Airport. This is on top of the 345 at its Munich hub that was canceled on Wednesday. Overall, this will affect about 134,000 passengers, and additional delays Cancellations can come on Thursdays and Fridays. From The Wall Street Journal:
Airline employees are striking the grounds until 6 a.m. local time Thursday over a wage dispute. German trade union Verdi is pushing for wage increases for some 20,000 workers, calling for a 9.5% increase in wages – or a minimum of 350 euros, about $355 a month – to offset rising inflation and offset higher workloads as the industry struggles with staff shortages.
“The situation at airports is escalating,” said Kristen Beehle, Verdi’s vice president. “that they [workers] They desperately need more money and they need rest – for themselves and the passengers. The employer’s offer is not enough.”
Lufthansa has offered basic wage increases of 150 euros per month from July and another increase of 100 euros from the beginning of next year. It also offers a minimum wage increase from October and a 2% compensation increase next year provided the company’s earnings are positive. In total, the airline said, its offer represents a 14.8% increase for lower-paid workers, which is reduced to a 5.9% increase for higher-paid workers.
The strikes are the latest in a series across the airline industry – and across Europe more broadly – that have led to significant travel delays and cancellations. Paris Charles de Gaulle Airport has been struggling with frequent strikes by workers in recent months as workers push for better wages, while airlines including Ryanair Holdings PLC – Europe’s largest airline by number of passengers – and discount rival easyJet PLC have been hit by strikes. by the flight crew. .
Guys, it’s a bad time to fly, no matter how you look at it. However, it is It’s a much worse time to be an airline worker, so I don’t blame them for what they do at all.
On this day in 1949, the world’s first jet airliner, the British De Havilland Comet, made its first test flight in England. If I had to tell you why this is so incredibly important, I don’t know why you’re reading this site. From History.com:
The comet was the creation of English aircraft designer and aviation pioneer Sir Geoffrey de Havilland (1882-1965). De Havilland began designing motorcycles and buses, but after seeing Wilbur Wright demonstrate an airplane in 1908, he decided to build one of his own. The Wright brothers made their first famous flight in Kitty Hawk, North Carolina, in 1903. De Havilland successfully designed and piloted his first aircraft in 1910, and went on to work with English aircraft manufacturers before starting his own company in 1920. De Havilland Aircraft The company has become a leader in the aerospace industry, known for developing lighter engines and faster, more streamlined aircraft.
Neutral: Suh Dude?
the heat The wave over the East Coast was finally broken, and the sentiments became pure. Go outside, look at your buds, I wish you a beautiful Wednesday.
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