- Is it going to snow tomorrow? Chicago snow forecast shows 1-2 inches in area; counties west of city under Winter Weather Advisory WLS-TV
- Here are the latest Chicago-area snowfall totals NBC Chicago
- National Weather Service warns overnight snow could make for hazardous driving conditions WGN TV Chicago
- Chicago snow sees a dusting Sunday expected to be as much as two inches in the city and suburbs, more in northwestern Illinois Chicago Sun-Times
- Overnight snow could impact travel with up to 3 inches expected west of Chicago ABC 7 Chicago
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Tag Archives: Forecast
Vista Outdoor to sell sporting products unit in $1.91 bln deal, cuts sales forecast – Reuters
- Vista Outdoor to sell sporting products unit in $1.91 bln deal, cuts sales forecast Reuters
- Vista Outdoor falls after selling its sporting products business for $1.9B Seeking Alpha
- Vista Outdoor sporting unit to stay in Anoka after $1.9B sale to Czech firm Star Tribune
- Czechoslovak Group Acquires Federal, CCI, Hevi-Shot, Remington Ammo & Speer | An Official Journal Of The NRA American Rifleman
- Vista Outdoor Enters into Definitive Agreement to Sell Sporting Products Business to Czechoslovak Group for $1.91 Billion Yahoo Finance
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ConocoPhillips misses on quarterly profit, hikes full-year output forecast marginally – Yahoo Finance
- ConocoPhillips misses on quarterly profit, hikes full-year output forecast marginally Yahoo Finance
- Clorox earnings, Etsy guidance, ConocoPhillips revenue: Trending tickers Yahoo Finance
- ConocoPhillips Reports Second-Quarter 2023 Results; Raises Full-Year Production Guidance and Declares Quarterly Dividend and Variable Return of Cash Distribution ConocoPhillips
- ConocoPhillips Misses Earnings Expectations Despite Record Production Investopedia
- ConocoPhillips stock falls after profit, revenue miss expectations as realized prices tumbled 38% MarketWatch
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DraftKings stock roars higher on revenue beat, raised forecast – MarketWatch
- DraftKings stock roars higher on revenue beat, raised forecast MarketWatch
- DraftKings stock soars after earnings smasher, guidance raise and profitability hint Seeking Alpha
- DraftKings Reports First Quarter Revenue of $770 Million; Raises 2023 Revenue Guidance Midpoint to $3.185 Billion and Improves 2023 Adjusted EBITDA Guidance Midpoint to ($315) Million Yahoo Finance
- DraftKings Guidance Sparks Cheer As EBITDA Loss Improves Casino.Org News
- DraftKings Q1 Earnings Highlights: Revenue And EPS Beat, Guidance Raised And More – DraftKings (NASDAQ:DK Benzinga
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Crypto Analyst Says Bitcoin Bullish Accumulation Coming to an End, Unveils April Forecast for BTC – The Daily Hodl
- Crypto Analyst Says Bitcoin Bullish Accumulation Coming to an End, Unveils April Forecast for BTC The Daily Hodl
- Bitcoin, Ethereum Technical Analysis: BTC Nears $29000 to Start April, as ETH Also Rebounds – Markets and Prices Bitcoin News Bitcoin News
- Bitcoin Price Prediction as BTC Bulls Hold $28000 Level – Can BTC Push Past $30000 Zone This Weekend? Cryptonews
- Top Crypto Analyst Says Bitcoin (BTC) ‘On the Cusp’ of Making History The Daily Hodl
- Bitcoin Remains the Best Performing Asset Class in Q1 2023 BeInCrypto
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Winter Storm Alerts Change For Chicago-Area Counties as Weather Forecast Shifts – NBC Chicago
- Winter Storm Alerts Change For Chicago-Area Counties as Weather Forecast Shifts NBC Chicago
- Winter Storm Warning now: ‘Intense snowfall rates’ location, timeline MLive.com
- Winter storm approaches Metro Detroit: Timeline, snowfall estimates and ‘thundersnow’ Click On Detroit | Local 4 | WDIV
- While storm track has uncertainty, the potential for heavy snow exists across NE Illinois and NW Indiana. Strong winds will accompany Friday’s storm. Below normal temperatures settle in next week. WGN TV Chicago
- Southeast Michigan weather: The latest totals and what to expect tonight FOX 2 Detroit
Chicago weather: Winter storm forecast to dump several inches of snow on parts of area Thursday – WLS-TV
- Chicago weather: Winter storm forecast to dump several inches of snow on parts of area Thursday WLS-TV
- Chicago First Alert Weather: Windy Wednesday, snow on the way CBS Chicago
- Calm before the storm: Winter Storm Watch issued for southeastern Wisconsin Thursday TMJ4 News
- Chicago weather forecast: Winter Storm Watch issued for McHenry, Boone, Ogle, Winnebago counties with heavy snow forecast Thursday WLS-TV
- More than 6 inches of snow possible in parts of Carroll, Whiteside, Ogle and McHenry counties Shaw Local News Network
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U.S. seeks Tesla driver-assist documents; company hikes capex forecast
WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday the U.S. Justice Department has sought documents related to its Full Self-Driving (FSD) and Autopilot driver-assistance systems as regulatory scrutiny intensifies.
The automaker said in a filing it “has received requests from the DOJ for documents related to Tesla’s Autopilot and FSD features.”
Reuters reported in October Tesla is under criminal investigation over claims that the company’s electric vehicles could drive themselves. Reuters said the U.S. Justice Department launched the probe in 2021 following more than a dozen crashes, some of them fatal, involving Autopilot.
Tesla did not respond to a request for comment.
Chief Executive Officer Elon Musk has championed the systems as innovations that will both improve road safety and position the company as a technology leader.
Regulators are examining if Autopilot’s design and claims about its capabilities provide users a false sense of security, leading to complacency behind the wheel with possibly fatal results.
Acting National Highway Traffic Safety Administration (NHTSA) chief Ann Carlson said this month the agency is “working really fast” on the Tesla Autopilot investigation it opened in August 2021 that she termed “very extensive.” In June, NHTSA upgraded to an engineering analysis its defect probe into 830,000 Tesla vehicles with Autopilot, a step that was necessary before the agency could demand a recall.
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Autopilot is designed to assist with steering, braking, speed and lane changes. The function currently requires active driver supervision and does not make the vehicle autonomous. Tesla separately sells the $15,000 full self-driving (FSD) software as an add-on that enables its vehicles to change lanes and park autonomously.
The automaker’s shares rose 2% in early trading.
The Wall Street Journal reported in October that the Securities and Exchange Commission is conducting a civil investigation into Tesla’s Autopilot statements, citing sources.
Tesla also forecast Tuesday capital expenditure between $7 billion and $9 billion in 2024 and 2025. The midpoint of that expectation is $1 billion higher than the $6.00 billion to $8.00 billion range provided for this year.
Some of the spending will go toward a $3.6 billion expansion of its Nevada Gigafactory complex, where Tesla will mass produce its long-delayed Semi truck and build a plant for the 4680 cell that would be able to make enough batteries for 2 million light-duty vehicles annually.
Tesla said it recorded an impairment loss of $204 million on the bitcoin it holds, while booking a gain of $64 million from converting the token into fiat currency.
Cryptocurrencies such as bitcoin were hammered last year as rising interest rates and the collapse of major industry players such as crypto exchange FTX shook investor confidence.
Reporting by Akash Sriram in Bengaluru and David Shepardson; Editing by Sriraj Kalluvila and Bernadette Baum
Our Standards: The Thomson Reuters Trust Principles.
IMF hikes global growth forecast as inflation cools
The IMF has revised its global economic outlook upwards.
Norberto Duarte | Afp | Getty Images
The International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia’s invasion of Ukraine would likely still weigh on activity.
In its latest economic update, the IMF said the global economy will grow 2.9% this year — which represents a 0.2 percentage point improvement from its previous forecast in October. However, that number would still mean a fall from an expansion of 3.4% in 2022.
It also revised its projection for 2024 down to 3.1%.
“Growth will remain weak by historical standards, as the fight against inflation and Russia’s war in Ukraine weigh on activity,” Pierre-Olivier Gourinchas, director of the research department at the IMF, said in a blog post.
The outlook turned more positive on the global economy due to better-than-expected domestic factors in several countries, such as the United States.
“Economic growth proved surprisingly resilient in the third quarter of last year, with strong labor markets, robust household consumption and business investment, and better-than-expected adaptation to the energy crisis in Europe,” Gourinchas said, also noting that inflationary pressures have come down.
In addition, China announced the reopening of its economy after strict Covid lockdowns, which is expected to contribute to higher global growth. A weaker U.S. dollar has also brightened the prospects for emerging market countries that hold debt in foreign currency.
However, the picture isn’t totally positive. IMF Managing Director Kristalina Georgieva warned earlier this month that the economy was not as bad as some feared “but less bad doesn’t quite yet mean good.”
“We have to be cautious,” Georgieva said during a CNBC-moderated panel at the World Economic Forum in Davos, Switzerland.
The IMF on Monday warned of several factors that could deteriorate the outlook in the coming months. These included the fact that China’s Covid reopening could stall; inflation could remain high; Russia’s protracted invasion of Ukraine could shake energy and food costs even further; and markets could turn sour on worse-than-expected inflation prints.
IMF calculations say that about 84% of nations will face lower headline inflation this year compared to 2022, but they still forecast an annual average rate of 6.6% in 2023 and of 4.3% the following year.
As such, the Washington, D.C.-based institution said one of the main policy priorities is that central banks keep addressing the surge in consumer prices.
“Clear central bank communication and appropriate reactions to shifts in the data will help keep inflation expectations anchored and lessen wage and price pressures,” the IMF said in its latest report.
“Central banks’ balance sheets will need to be unwound carefully, amid market liquidity risks,” it added.
New Zealand counts cost of Auckland floods, more rain forecast
WELLINGTON, Jan 30 (Reuters) – Flood-ravaged Auckland is forecast to receive further heavy rain in the coming days, authorities in New Zealand’s largest city said on Monday, as insurers counted the costs of what looks likely to be the country’s most expensive weather event ever.
Four people lost their lives in flash floods and landslides that hit Auckland over the last three days amid record downpours. A state of emergency remains in place in Auckland. A state of emergency in the Waitomo region south of Auckland was lifted.
Flights in and out of Auckland Airport are still experiencing delays and cancellations, beaches around the city of 1.6 million are closed and all Auckland schools will remain closed until Feb. 7.
“There has been very significant damage across Auckland,” New Zealand Prime Minister Chris Hipkins told state-owned television station TVNZ on Monday. “Obviously there were a number of homes damaged by flooding but also extensive earth movements.”
Currently, around 350 people were in need of emergency accommodation, he added.
LOOMING CLOUDS
Metservice is forecasting further heavy rains to hit the already sodden city late on Tuesday.
“We have more adverse weather coming and we need to prepare for that,” Auckland Emergency Management duty controller Rachel Kelleher told a media conference.
Fire and Emergency services received 30 callouts overnight Monday, including responding to a landslide when a carport slid down a hill.
The council has designated 69 houses as uninhabitable and has prevented people from entering them. A further 300 properties were deemed at risk, with access restricted to certain areas for short periods.
The north of New Zealand’s North Island is receiving more rain than normal due to the La Nina weather event.
The National Institute of Water and Atmospheric Research (NIWA) said Auckland has already recorded more than eight times its average January rainfall and 40% of its annual average rainfall.
INSURERS FACE HEFTY BILL
The cost of the clean up is expected to top the NZ$97 million ($63 million) bill for flooding on the West Coast in 2021 but will not be anywhere near as expensive as the estimated NZ$31 billion insured costs of two major earthquakes in Christchurch in 2010-2011, said Insurance Council of New Zealand spokesperson Christian Judge.
Insurance Australia Group’s (IAG.AX) New Zealand divisions have received over 5,000 claims so far and Suncorp Group (SUN.AX) said it received around 3,000 claims across the Vero and AA Insurance Brands. New Zealand’s Tower (TWR.NZ) said it had received around 1,900 claims.
“The number of claims is expected to rise further over the coming days, with the event still unfolding and as customers identify damage to their property,” IAG said in a statement.
Economists say the recovery and rebuild could add to inflationary pressures in New Zealand as vehicles and household goods need to be replaced and there is an increase in construction work needed to repair or rebuild houses and infrastructure damaged by the flooding.
($1 = 1.5385 New Zealand dollars)
Reporting by Lucy Craymer; Editing by Aurora Ellis and Lincoln Feast
Our Standards: The Thomson Reuters Trust Principles.