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A man would have killed his father for the sale of land in Lyantonde

Motorcycle Sale

A 23-year-old man allegedly killed his father for allegedly refusing him to sell part of their land to buy a motorbike for commercial use (bodaboda).

The incident reportedly happened in Bikokola B village, Mpumudde trading center in Lyantonde district.

The victim is Valentino Turyatunga, who was 55 years old.

It is alleged that his son, Vincent Nuwahareza, repeatedly hit him in the head with a wooden mortar, killing him.

Greater Masaka Police Public Relations Officer Muhammad Nsubuga confirmed the death and said police are investigating the matter.

He said the incident happened on Friday.

Local council leaders later said angry locals apprehended the suspect after a child who allegedly witnessed the murder alerted locals.

They handed Nuwahareza over to the police at Mpumudde police station and he was later transferred to Lyantonde.

Margaret Kobuyanji, the region’s president, said Lyantonde police went to the victim’s home and arrested his wife, Agnes Tafiirwe, and their youngest son, 14, for questioning.

She told police her husband developed misunderstandings with the rest of the family after refusing the son to sell land he had given her to buy a motorbike.

Fred Tamale, a local leader, said the suspect accused his father of blocking his chances of getting out of poverty by refusing him to sell said land.

Tamale said young men using drugs had led to an increase in crime in the area, and he called on the police to educate young people against drug use.

Police released the body to the family for burial after an autopsy.

Tickets on sale for the NHRA’s return to the Route 66 circuit at the Route 66 NHRA National Championships presented by PEAK Performance

Motorcycle Sale

INDIANAPOLIS, IN – November 10, 2022 – (Motor Sports News Wire) – With excitement surrounding the return of the NHRA Camping World Drag Racing Series to Route 66 Raceway during the 2023 season, tickets are now on sale for the 23rd Annual Route 66 NHRA National Championships presented by PEAK Performance, which will take place from May 19 to 21. in the fan-favorite installation.

The race marks the first time since 2019 that the NHRA Camping World Drag Racing series has appeared at Route 66 Raceway and all four pro classes (Top Fuel, Funny Car, Pro Stock and Pro Stock Motorcycle) will compete in the event to add to the anticipation of the NHRA’s return to Chicago.

Since its 1998 debut on the NHRA circuit, the track has been a fan and race team favorite, with the 2023 event being the sixth of 21 races in the coming season. With race teams looking for a win early in the season, fans will be treated to all the thrills and incredible moments that come with 11,000 horsepower, 330 mph nitro action and thrilling side-by-side action in Pro Stock and Pro Stock Motorcycle as it all returns to the Windy City.

“When the announcement was made that Route 66 Raceway was returning to the NHRA Camping World Drag Racing Series schedule, it was great to see the initial enthusiasm from fans and race teams, and it only continued. over the past few weeks,” the NHRA said. Vice President of Lane Management and Operations, Kasey Coler. “We’re thrilled to have this terrific facility back on the NHRA Tour and know our fans can’t wait to see another spectacular event at Route 66 Raceway in 2023.”

Steve Torrence (Top Fuel), Tommy Johnson Jr. (Funny Car), Deric Kramer (Pro Stock) and Matt Smith (Pro Stock Motorcycle) won the most recent event at Route 66 Raceway in 2019, and the race this year will air on Fox Sports 1 (FS1). In the more than two decades of racing at Route 66 Raceway, fans have come to enjoy the nightly qualifying sessions that have been a hallmark of the event, helping to shape a rich history at the facility. There have also been several major moments on Route 66 over the years, including the first career Pro Stock win for five-time Pro Stock World Champion Erica Enders.

In the Top Fuel ranks, Chicago-area native Tony Schumacher, who returned to full-time racing in 2022, earned five wins at the facility, leading everyone in the class. Antron Brown and Doug Kalitta both have three, while John Force and Matt Hagan’s three wins in Funny Car lead the way among active drivers. Torrence holds the track record in Top Fuel with a blast of 3.677 seconds at 333.58 mph, while points leader Robert Hight’s 3.851 at 334.73 is the best runs in track history in Funny Car .

In Pro Stock, five-time world champion Greg Anderson, who earned his 100th victory earlier this year, is the only active rider with more than one victory in Chicago. Pro Stock Motorcycle’s Hector Arana Jr., Angelle Sampey and Matt Smith all picked up two victories in Chicago, with reigning world champion Smith winning the two most recent events at Route 66 Raceway.

To purchase tickets for the 23rd Annual NHRA Route 66 National Championship presented by PEAK Performance, fans can visit www.NHRA.com/tickets. All children 12 and under will be admitted free to the general admission area with a paying adult. For more information about the NHRA, visit www.NHRA.com.

About Camping World Holdings, Inc.

Camping World Holdings, Inc., headquartered in Lincolnshire, Illinois, (together with its subsidiaries) is the largest US retailer of recreational vehicles and related products and services. Our vision is to build a long-term legacy business that makes motorhome fun and easy, and our Camping World and Good Sam brands have served motorhome consumers since 1966. We strive to create long-term value. term for our customers, employees and shareholders. by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers, as well as the most extensive online presence in the industry and a team of highly skilled and knowledgeable associates serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services allow us to uniquely connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With RV sales and service outlets in 42 states, Camping World has become the go-to destination for all things RV. For more information, visit www.CampingWorld.com

About the NHRA

Based in San Dimas, California, the NHRA is the primary sanctioning body for the sport of drag racing in the United States. The NHRA presents 22 national events including the NHRA Camping World Drag Racing Series, NHRA Lucas Oil Drag Racing Series, FuelTech NHRA Pro Mod Drag Racing Series presented by D-Wagon, Constant Aviation Factory Stock Showdown and Top Fuel Harley Series. The NHRA offers competitive opportunities for drivers of all skill levels in the NHRA Summit Racing Series and NHRA Street Legal. The NHRA also offers the NHRA Jr. Street program for teens and the Summit Racing Jr. Drag Racing League for youth ages 5-17. With over 120 member tracks, the NHRA allows riders to compete in a variety of locations nationally and internationally. NHRA’s Youth and Education Services (YES) program reaches more than 30,000 students each year to spark their interest in automotive and racing-related careers. the NHRA streaming service, NHRA.tv, allows fans to view all NHRA national events as well as exclusive sports features. In addition, the NHRA owns and operates three racing facilities: Gainesville Raceway in Florida; Indianapolis Lucas Oil Racetrack Park; and Auto Club Raceway in Pomona, Southern California. For more information, log on to www.NHRA.comor visit the official NHRA pages on Facebook, Instagram, Twitter and YouTube.

Source: National Hot Rod Association

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Ola Electric: Ola confirmed plans to enter electric motorcycle business in India

Motorcycle Business

Ola Electric, which started operations last year, is currently the country’s largest manufacturer of electric two-wheelers. It offers three models – S1, S1 Air and S1 Pro in India.

Bhavish Aggarwal, co-founder and CEO of Ola, is hosting an online poll on what kind of electric motorcycle his EV maker should build first. (AFP)

In the clearest hint yet, Ola Electric has confirmed that it will be entering the electric motorcycle business in India. Bhavish Aggarwal, co-founder and CEO of the Tamil Nadu-based electric two-wheeler maker, said his company was “building” electric motorbikes and conducting an online survey to find out what potential customers want the character of the EV to be. that is. . He came up with options like a sport bike, cruiser bike, adventure bike, or cafe racer. Ola previously expressed his eagerness to expand his EV business beyond electric scooters.

According to reports, the first of Ola Electric motorcycles could hit the markets as early as next year. Recently, the CEO hinted that Ola is considering e-bikes that cater to segments such as the mass market, mid-segment as well as the premium category. An official announcement on Ola’s next electric motorcycle could take place towards the end of this year.

Ola’s plans to launch an electric motorcycle were first hinted at when the S1 Air electric scooter was launched on Diwali this year, Aggarwal said: “Over the next 12 months, we will be building electric products in all categories of two-wheelers, such as commuter scooters. , motorcycles, sport bikes and more, to ensure that everyone who purchases ICE vehicles has a much better EV product to choose from. »

Ola Electric is currently the leading electric scooter manufacturer in the country. The recently launched S1, S1 Pro and S1 Air comprise Ola’s EV lineup, which debuted in August last year. In October, Ola Electric recorded about 20,000 electric vehicle sales, its highest level in a month. Aggarwal is optimistic that the EV maker will reach production capacity of 10 lakh EVs by the end of next year. Since December last year, Ola has already manufactured a lakh units so far.

Ola Electric also plans to drive its first electric car. The electric vehicle maker recently showed what the next electric car will look like and what it will offer in terms of features and performance. The electric car should not be launched before 2025.

Date of first publication: November 10, 2022, 1:44 PM IST

The famous motorcycle brand returns to Glasgow

Motorcycle Brand

The motorcycle brand is back in Glasgow

THE Triumph motorcycle brand returns to Glasgow with the opening of a premium dealership on Saturday.

The opening of West Coast Triumph Glasgow, on Hillington Road, created 13 showroom jobs. Three additional positions were created within the West Coast Dealer Group headquarters with the opening.

West Coast has over 20 years of experience retailing high end motorcycles in Glasgow and across the West of Scotland.

Devron Boulton, Managing Director of Triumph GB, said: “It’s great to see Triumph Motorcycles return to Glasgow with a stunning new dedicated showroom and workshop… West Coast are a highly respected and experienced dealer.”

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David Hackshall, Managing Director of West Coast Triumph Glasgow, said: “The whole team at West Coast Glasgow was on board from the start and rose to the challenge of meeting not only Triumph’s expectations, but also the expectations of owners and Triumph drivers in the West of Scotland. It’s a great brand that fits perfectly with our company and our culture. With this new dedicated solus dealer, we look forward to an exciting future together.

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Mr Boulton said: “David and his team have a genuine passion for motorcycles and the Triumph brand, and their strong focus on customer service will ensure they go from strength to strength.”

Sport Motorcycle Market Sale Surpasses $181 Billion in Revenue

Motorcycle Sale

Sports Motorcycle Market 2022

Sports Motorcycle Market 2022

According to industry analysis, the global motorcycle market is expected to approach a revenue of US$125 billion in 2021. The market is expected to grow 1.5 times over the next ten years to reach US$181 billion in revenue by 2031.

Persistence Market Research has recently published a report on the global sports motorcycle market. The report provides a detailed assessment of key market dynamics, such as drivers, trends, opportunities, and restraints, along with detailed information about the market structure. This market research report presents exclusive facts and figures on the growth of the sports motorcycle market during the forecast period from 2021 to 2031.

Request for Free Sample Copy of Sports Motorcycle Market Report @https://www.persistencemarketresearch.com/samples/3586

Key market context indicators such as value chain and supply chain analysis, compound annual growth rate (CAGR), and year-on-year growth (YoY) of the market are explained comprehensively in the report. study by Persistence Market Research. This information can help the readers understand the quantitative development projections of the Sports Motorcycle market over the forecast period.

The study is relevant for market stakeholders as well as manufacturers, distributors, suppliers, and investors as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers and journalists, as well as trade researchers of the Sports Motorcycles market can benefit from the information and statistics presented in the research report of Persistence Market Research.

The report includes facts and figures related to macro and microeconomic factors that impact market growth. The study also offers actionable insights based on future Sports Motorcycle market trends. Additionally, regional players and new market entrants can also use the information presented in this report to make business decisions and gain traction in the market.

Key Companies-

• Triumph Motorcycles Ltd.• Bajaj Auto Ltd.• Bayerische MotorenWerke (BMW) AG• Ducati Motor Holding SpA• Eicher Motors Limited• Harley-Davidson, Inc.• Hero MotoCorp Ltd.• Honda Motor Co., Ltd.

• KTM AG

You can customize this report @https://www.persistencemarketresearch.com/request-customization/3586

Key market segments

Persistence Market Research’s study of the sports motorcycle market is divided into 2 important segments: technology and product.

This report offers comprehensive data and insights on important market dynamics and growth parameters related to these categories.

Technology• Integrated circuit motors• Up to 150 cm3• 151-300cc• 301-500cc• Above 500 cc

• Electric

Product• Sports motorcycles• Standard• Cruisers• Sports• Mopeds• Electric

• Others

Scooters• Standard• Max• Shut in• Three-wheeled

• Electric

Region• North America• Latin America• Europe• South Asia and the Pacific• East Asia

• AEM

Full report [email protected]https://www.persistencemarketresearch.com/market-research/motorcycle-market.asp

Research Methodology

In the Persistence Market Research report, proprietary research methodology is used to conduct in-depth research on the development of the Sports Motorcycles market and draw conclusions about the future growth factors of the market. In this research methodology, secondary and primary research is used by analysts to ensure accuracy and reliability of conclusions.

Secondary resources are referred by analysts when evaluating market research, which include facts and figures from the World Bank, IMF, US Energy Information Administration, International Energy Agency energy, local and regional government websites, white papers, trade and external and internal journals. data base.

Analysts conducted extensive interviews with several industry experts, such as sales supervisors, sales operations managers, product portfolio managers, senior executives, market intelligence managers, marketing managers/ product, engineering managers and production managers to provide relevant information.

Comprehensive information acquired from primary resources and secondary resources is validated with companies operating in the Sports Motorcycles market to make Persistence Market Research’s projection on the growth prospects of the Sports Motorcycles market more accurate and reliable.

Get full access to this report @https://www.persistencemarketresearch.com/checkout/3586

Answers to key questions in the market report

• Which region is expected to hold a major market share during the forecast period?• What will be the major driving factors that will propel the demand for sports motorcycles during the forecast period?• How will current trends impact the sports motorcycle market?• Who are the important market players?

• What are the crucial strategies of key players to strengthen their positions in this landscape?

About Us: –

Persistence Market Research (PMR), as a third-party research organization, operates through a proprietary fusion of market research and data analytics to help businesses soar no matter the turbulence encountered due to financial/natural crises.

Contact us:

Persistence Market ResearchAddress – 305 Broadway, 7th Floor, New York, NY 10007 USATelephone in the United States – +1-646-568-7751USA-Canada Toll Free – +1 800-961-0353

Sales – [email protected]

Germany office:Persistence Market ResearchPotsdamer Platz 10 Haus 2, 5th floor Berlin,Germany 10785

Call +1 888-863-4084

This press release was published on openPR.

Vertu Motors acquires historic family motorcycle business in Yorkshire

Motorcycle Business

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Dealerships in Shipley, near Bradford, and Rotherham, will become part of the group’s Vertu Motorcycles brand. Allan Jefferies has been a tradesman and family since 1901. Framer Joseph Jefferies founded the business in the old steam tram shed at Shipley, near the Ross Hotel in 1901. It moved to premises on Saltaire Road in 1917, where, named Allan Jefferies after his son, it was to remain so for over 80 years.

The spokesperson said: “The Jefferies family are well known in the motorcycling world with Allan’s son Tony and brother Nick winning the Isle of Man TT three times. Tony’s son David also won this world famous race and was the course record holder.

“Tony ran the business until 2001 when his daughter Louise took over. Allan Jefferies has represented the BMW brand since 1971 and only started representing it in the 1990s.”

Robert Forrester, Managing Director of Vertu Motors plc, said: “Allan Jefferies has always been about family values ​​and personal service; it is a philosophy that will continue under the aegis of our group.

“Louise has overseen a business that is in great shape and will therefore provide a solid foundation for Vertu Motorcycles to grow and grow further.”

Louise Jefferies said: “For over 50 years, Allan Jefferies has been associated with the sale and service of BMW motorcycles. In those days, we have always stood for trustworthy service and a warm welcome.”

Mark Goode Brand Director Vertu Motorcycles with Rotherham Managing Director Andy Forrest

Vertu completes multi-million pound takeover of family motorbike business – Car Dealer Magazine

Motorcycle Business

Car dealership group Vertu has agreed a multi-million pound deal to buy motorcycle retailer Allan Jefferies.

The Top 100 car dealerships outfit confirmed the news in a statement to the London Stock Exchange this morning (Tuesday).

It acquired the business and assets of two BMW Motorrad outlets in Saltaire Motor Company Yorkshire.

Both locations currently trade as Allan Jefferies and have been in the same family for four generations since 1901.

The company has represented BMW since 1971 and the latest agreement makes Vertu the largest retailer of BMW Motorrad motorcycles in the UK.

The outlets purchased are located in Shipley, near Bradford and Rotherham and will be rebranded to market under the Vertu brand.

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They will then become part of the Vertu Motorcycles division, which will operate six motorcycle outlets representing BMW Motorrad and Honda.

For the financial year ending September 29, 2021, the two concessionaires had sales of £20.5 million and operating profit of £463,000.

Total consideration is estimated at £4.2 million, subject to finalization of completion accounts, including a freehold property value of £1.85 million and a goodwill payment of £500,000.

Due to the seasonality of motorcycle sales, Vertu expects its new acquisitions to post a slight loss by the end of the current fiscal year.

Robert Forrester, CEO of Vertu Motors, said: “Our business is doing well and the addition of two more BMW Motorrad outlets will be both financially and strategically accretive to the group. Vertu becomes largest UK partner for BMW Motorrad.’

Paulo Alves, Head of BMW Motorrad UK and Ireland, added: “We are delighted to support Vertu’s acquisition of the excellent Allan Jefferies business in Yorkshire.

“The Jefferies family has built a fantastic operation and we are confident the business will be in good hands.”

“As a leading brand, our customers come first and we share this philosophy with Vertu. We welcome them as our biggest partner in the UK.

In October, Forrester told Car Dealer he wanted to catapult his group to become one of the UK’s top three with 400 dealerships to its name.

The Vertu boss spoke to Car Dealer Live, which you can watch below, in an extensive interview after the group’s first half results were released.

Virtue posted profit of £28.2m on revenue of nearly £2 billion for the first half of 2022.

Electric motorcycle brand reveals exclusive financial partnership

Motorcycle Brand

Coventry electric motorcycle company Maeving has chosen Lloyds Banking Group as its exclusive financial partner in a bid to help more people ‘go electric’.

Founded in 2019, Maeving’s USP is the bike’s removable battery – which can be charged from any power outlet, whether at work or at home, making refueling easy.

Demand for electric motorcycles has been growing, with more than 6,000 electric motorcycle registrations in 2021. The Motor Cycle Industry Association estimates that the number will continue to rise to reach 31,000 by the end of 2025.

Lloyds says its partnership with Maveing ​​will be the first relationship with a manufacturer focused entirely on electric vehicles. It has already provided £1bn of funding for battery electric vehicles (BEVs) and plug-in hybrids (PHEVs) in 2022

Nick Williams, Managing Director Transport at Lloyds Banking Group, said: “As the UK market leader in car finance and leasing, we have made supporting the transition to a zero emissions future central to our vision, helping motorists and businesses make the switch. to electric.

“As the adoption of electric vehicles continues to accelerate, we will work closely with government departments and manufacturers to ensure that vehicle supply and supporting charging infrastructure is able to meet demand. motorists.

“Our partnership with Maeving is a really exciting development for us. It will help more people go electric, and our shared philosophy and ambition means we can help each other on our respective journeys to net zero.

Will Stirrup, co-founder of Maeving, said: “As a new UK manufacturer, Maeving is delighted to be working with the UK market leader in automotive asset finance. Through a deep and constructive partnership, we were able to integrate Blackhorse’s quote and apply the journey directly to our direct-to-consumer website via API. To our knowledge, this is a first for an electric motorcycle manufacturer.

Indian motorcycle brand Hero MotoCorp to enter the Philippine market

Motorcycle Brand

MANILA: Hero MotoCorp, the world’s largest motorcycle and scooter producer, is preparing to launch operations in the Philippines as part of its aggressive global growth plans.

KEY POINTS TO REMEMBER

  • Who is HeroMoto Corp?

    In terms of the amount of bikes and scooters sold by a single company in a year, Hero MotoCorp – headquartered in New Delhi, India – has held the title of the world’s largest motorcycle and scooter manufacturer for 21 years.

  • What are some of HeroMoto Corp’s notable products?

    Ushering in an era of sustainability and clean mobility, Vida V1 – powered by Hero – the new fully integrated electric vehicle is designed and developed at Hero’s state-of-the-art R&D centers.

    • In order to deliver Hero MotoCorp’s successful motorcycles to the country, Terrafirma Motors Corporation (TMC), a member of the Columbian Group of Companies and one of the most reputable and experienced automotive groups, has partnered with Hero MotoCorp.

    In terms of the amount of bikes and scooters sold by a single company in a year, Hero MotoCorp – headquartered in New Delhi, India – has held the title of the world’s largest motorcycle and scooter manufacturer for 21 years.

    Since its inception, the company has sold over 100 million motorcycles and scooters worldwide. It now sells its products in more than 43 countries across Asia, Africa, the Middle East, and South and Central America.

    Hero MotoCorp has eight state-of-the-art manufacturing plants, including six in India, one in Colombia and one in Bangladesh.

    Earlier this month, Hero MotoCorp launched its first electric vehicle (EV), the Vida V1 in India. Ushering in an era of sustainability and clean mobility, Vida V1 – powered by Hero – the new fully integrated electric vehicle is designed and developed at Hero’s state-of-the-art R&D centers, the city ​​of Jaipur in northern India and the Hero Tech Center Germany (TCG) near Munich.

    The development and production of the Vida V1 follows a comprehensive approach to sustainability involving compliance with strict environmental and social standards in the extraction of raw materials. The use of electricity from renewable sources and a high proportion of recycled materials also add to the mix.

    Vida, powered by Hero, offers a comprehensive charging package for maximum flexibility based on numerous personalized programs for hassle-free charging at home, on the road and at work. Vida V1 has been designed and tested to withstand dusty environments, potholes and uneven roads, heavy rains, wet roads and high temperatures.

    Sanjay Bhan, Head of Global Affairs, Hero MotoCorp, expressed his optimism about the brand’s entry into the Philippine market.

    “In line with our R4 (recalibrate, revitalize, revolutionize and revive) strategy, we are always carefully exploring new opportunities in global markets. Our partnership with Terrafirma Motors Corporation (TMC) to enter the Southeast Asian region is an integral part of this expansion strategy.

    untitled-design-1-1

    Hero MotoCorp’s confidence and technological prowess combined with TMC’s automotive expertise and network in the Philippines will certainly create an impact and strengthen our footprint in this key market.

    Bienvenido Sanvictores Santos, President of Terrafirma Motors Corporation, said, “Hero MotoCorp, the world’s largest two-wheeler manufacturer, is the most trusted brand partner for more than 100 million customers worldwide. Terrafirma Motors Corporation (TMC) is a customer-centric automotive company with a vision to be the ultimate choice for value-added products and services in the Philippines.

    This is the coming together of two visionary companies and this new partnership will lead us to new horizons by enabling us to provide our customers with modern, technologically superior and environmentally friendly mobility solutions.

    Pictures of Hero, Vida

    Also read: 3 safety tips every cyclist should know this rainy season

Company Highlights: US Dollar Surge, Netflix Rebound

Motorcycle Business

‘Bad situation’: Soaring US dollar hurts the world

As the value of the US dollar soars, other currencies around the world plummet in comparison. This contributes to skyrocketing the prices of everyday goods and services and worsening financial distress, especially in poorer countries. It prompted complaints from an auto parts dealer in Nairobi, a baby clothes seller in Istanbul, a wine importer in Manchester, England, and the driver of the colorful Filipino mini-bus known as the jeepney name. The dollar is up 18% this year against a basket of key currencies around the world. Interest rate hikes by the US Federal Reserve drove up rates on US government and corporate bonds, attracting investors and pushing the US currency higher.

Another 11 accidental deaths are linked to automated vehicles

DETROIT – Eleven more people were killed in crashes involving vehicles using automated driving systems during a four-month period earlier this year, according to newly released government data, part of an alarming pattern of technology-related incidents. Ten of the fatalities were in vehicles made by Tesla, although the data is unclear whether the technology itself was to blame or whether driver error could have been responsible. The 11th fatality involved a Ford pickup truck. The deaths included four accidents involving motorcycles that occurred in the spring and summer: two in Florida and one in California and one in Utah.

EU fights to prevent energy prices from sinking the economy

BRUSSELS – European Union leaders are entering a crucial period this week to ensure that runaway energy prices and supply shortages do not further weaken their struggling economies and foment troubles. At the same time, they must keep the 27 members united in their opposition to Russian President Vladimir Putin. The EU’s Executive Commission presents a plan on Tuesday that aims to bridge the gap between those who want to impose a common gas price cap to keep prices low and those who think it will mainly prevent supply and further starve industries. and businesses. Then on Thursday, EU leaders will begin two days of talks in search of a compromise, no matter how difficult.

Stocks climb on Wall Street as investors focus on earnings

NEW YORK — Stocks rose on Wall Street, adding to weekly gains for major indexes that have been mired in a broad slump amid inflation and recession concerns. The S&P 500 rose 1.1% on Tuesday. The Dow Jones Industrial Average and the Nasdaq also rose. The gains were tempered by an earlier jump that sent nearly every stock in the S&P 500 up. It was the latest instinctive move in a market that has moved erratically in recent weeks. Many US companies are posting strong earnings for the last quarter. Goldman Sachs led banks higher after reporting better-than-expected results.

Netflix rebounds from recent subscriber losses with Q3 gain

SAN FRANCISCO — Netflix reversed its recent subscriber losses with a summer gain. Management hopes to build on the gains with the upcoming launch of a cheaper version of the video streaming service that will include ads for the first time. The Los Gatos, Calif.-based company revealed on Tuesday that it attracted 2.4 million subscribers in the July-September period, a comeback after losing 1.2 million customers in the first half. . The performance beat analysts’ estimates and allowed Netflix to at least temporarily reclaim the role of the world’s largest video streaming service from Walt Disney Co.

United Airlines nets $942m profit after strong summer

CHICAGO — United Airlines reported third-quarter profit of $942 million after a strong summer season. Chicago-based United said Tuesday it expects to beat Wall Street’s fourth-quarter earnings forecast as well. Airline executives say concerns about inflation and the economy don’t seem to be deterring people from travelling. Air travel in the United States has rebounded since the start of the pandemic. On Sunday, nearly 2.5 million travelers passed through US airport checkpoints. This is the highest number since before the pandemic. International travel is still lagging behind, but even there United feels optimistic enough to plan more flights to Europe next summer.

Report: Agricultural loss from Hurricane Ian could reach $1.56 billion

ST. PETERSBURG, Fla. – A new report reveals that preliminary agricultural losses in Florida due to high winds and torrential rains from Hurricane Ian could reach $1.56 billion, citrus, livestock, vegetable and vegetable farms. melons being the hardest hit. The report from the University of Florida’s Institute of Food and Agricultural Sciences said on Tuesday that many impacts could still emerge from flooded areas and depend in part on whether some damaged crops can be replanted to salvage part of the flood season. growth of winter vegetables. Estimated losses this year are for a high scenario of $1.56 billion and a low potential loss of around $787 million.

Amazon workers reject union offer in upstate New York

NEW YORK – Amazon workers in upstate New York overwhelmingly rejected a union offer on Tuesday, handing a second defeat to the labor group that has been trying to drag the company to the bargaining table since its historic victory earlier this year. Warehouse workers near Albany cast 406 votes out of 612 ballots counted — or about 66% — against the Amazon Labor Union, giving the company enough support to fend off the fledgling group of alumni and current Amazon workers. According to the National Labor Relations Board, 206 workers — or 33.6% — voted in favor of the group. The 31 additional ballots contested by Amazon or the union were not enough to influence the result.

Meta agrees to sell Giphy, ending battle with UK regulators

LONDON — Facebook parent Meta has said it will sell Giphy after it ran out of options to thwart a move by UK regulators, who again found the deal to buy the data-sharing platform GIF would limit competition and innovation. Britain’s competition watchdog ordered Meta last year to cancel the deal. The company appealed to a court, which rejected most of its arguments. Meta said he was disappointed but accepted the decision as a final word. Meta said he would wait for more details on the divestiture order and not file another appeal, ending the drawn-out battle over the $400 million acquisition.

The S&P 500 gained 42.03 points, or 1.1%, to 3,719.98. The Dow Jones Industrial Average rose 337.98 points, or 1.1%, to 30,523.80. The Nasdaq advanced 96.60 points, or 0.9%, to 10,772.40. The Russell 2000 Small Business Index added 20.20 points, or 1.2%, to 1,755.96.