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.
Buyers eye the fourth quarter warily. Final month, the S&P 500 suffered its largest month-to-month drop because the begin of the pandemic, and the present subsequent quarter is about to be bumpy, traders advised 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 report quarterly deliveries. Regardless of the worldwide chip scarcity that has hit its rivals, Tesla delivered nearly 1 / 4 of 1,000,000 electrical autos worldwide within the third quarter, greater than 70 % increased than the earlier yr.
Engine No. 1 backs Common Motors
Engine No. 1, the activist funding agency that made its identify by efficiently taking up Exxon, will formally announce at the moment that it has taken a stake in Common Motors. In contrast to its bruising battle with Exxon, the acquisition is pitched as a present of assist for the automaker’s transition to electrical autos.
G.M. needs 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 a better valuation due to its scale and dedication to electrical automobiles. G.M.’s shares are up about 31 % this yr, 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 personal fund. (The agency’s positions have been comparatively small to this point.) Engine has met informally with the carmaker’s administration, together with C.E.O. Mary Barra, and has no plans to launch a proxy combat because it did at Exxon, Engine’s founder, Chris James, advised DealBook.