• Shares of Disney have continued to be negative for this year in 2021 and remain behind the S&P 500 Index Return
• As Disney’s3rd quarter earning swerve announced, it shows that streaming subscriber additions slowed down and costs for its content and Parks business rise

GM aims to produce vehicle-based on Hummer EV for the US military in 2022

• According to company officials from General Motors, the eLRV from GM Defense is expected to be based on the company’s Hummer EV
• The new vehicle will use and change components of the Hummer EV like the motors, frame, and the automaker’s “Ultium” batteries starting in 2022

Major fast-food restaurants affected by labor shortages 

• For the entire fast-food industry, the unemployment rate fell by 7% in September 2021, while food services and drinking establishments added almost 120,00 new jobs during the same month 
• Fast-food chains like Burger King and Taco Bell have reported that the lack of workers is causing restaurants to cut back open hours and some menu items

Past GM factory of Lordstown Motors bought out by Foxconn for $230 million

• By the end of April 2022, Foxconn plans to sign a contract to assemble Lordstown Motors’ first vehicle, an all-electric pickup truck named the “Endurance”
• Both companies benefit as EV start-up Lordstown Motors get desperately needed capital, and Foxconn gets to go into the EV space by producing fully electric trucks
• After the news, shares of Lordstown rose more than 13%

Elon Musk has sold more than 3.5 million shares of Tesla stock valued at over $3 billion

• In a series of trades that happened on November 8 and 9, Elon Musk sold more than 3.5 million shares that are worth over $3.88 billion
• Filings show that Musk had planned to sell a block of Tesla shares set in motion on September 14, 2021
• Musk still currently holds over 166 million shares in Tesla 

The post Business News – 11-11-2021 appeared first on Easy Ad - Local Small Business Resources.

• For the Air Force Military branch, 40 service members have been discharged along with thousands of others that refused to take the vaccine before the deadline on November 1
• The Air Force has become the first branch to execute what military leaders consider an essential measure but opponents to the mandate argue that it will undermine America’s ability to defend itself 

US military top officer says China is “clearly” developing the ability to invade Taiwan

• On November 3, the US military’s top officer warned that China is “clearly and unambiguously” developing the ability to invade Taiwan in the near future
• Comments from Army General Mark Milley came as the perceived potential for conflict has increased in the past month between the US and China over Taiwan
• American analysts began to fear that China could undermine US deterrence against Beijing after the country tested a hypersonic missile

Fraternal Order of Police VP shames Austin leaders as more advocate for “defunding the police”

• On November 3, Fraternal Order of Police National VP, Joe Gamaldi shamed Austin, Texas voters as many rejected a proposal to hire more police officers
• Gamaldi emphasized the importance of investing in law enforcement in Austin as the crime rate has increased significantly by 88%
• The Austin Police Department has also seen 350 resignations and retirements in the last year with another 250 to leave within the coming months

Hungary and South Korea commit to being carbon-neutral by 2050

• The presidents of South Korea and Hungary, Moon Jae-in and Janos Ader met in Budapest, Hungary where they committed to achieving carbon neutrality in their countries by 2050
• South Korean President Moon Jai-In said relations between the two countries will be elevated to a “strategic partner status” and that he will expand investments manufacturing of EVs and batteries

The post National News – 11-03-2021 appeared first on Easy Ad - Local Small Business Resources.