Life

Stacey Abrams Announces She's Running for Georgia Governor Again

GM raises 2021 earnings guidance on pricing and better chip supply

General Motors is slightly raising its 2021 earnings guidance on strong pricing and resilient consumer demand, despite ongoing impacts from a global shortage of semiconductor chips that has depleted vehicle inventories and shuttered plants.

The Detroit automaker's new adjusted earnings guidance for this year is about $14 billion, up from an already raised guidance of between $11.5 billion and $13.5 billion, GM CFO Paul Jacobson said Wednesday.

The new guidance will likely please investors and Wall Street analysts who were disappointed with the company only guiding to the "high end" of its range when announcing third-quarter results in October. Shares of the automaker fell by 5.4% on Oct. 27 after the third-quarter results, followed by crosstown rival Ford Motor partially raising its guidance that same day.

GM's initial adjusted earnings guidance for the year was between $10 billion and $11 billion, as it attempted to comprehend the impact of the ongoing semiconductor chip shortage.

European Economics Preview: Germany Revised GDP, Consumer Confidence Data Due

Revised quarterly national accounts and consumer sentiment survey results are due from Germany on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis releases Germany’s GDP data for the third quarter. According to initial estimate, the economy had expanded 1.8 percent sequentially, after rising 1.9 percent in the second quarter.

In the meantime, the market research group Gfk is slated to issue Germany’s consumer confidence survey results. The forward-looking sentiment index is seen at -0.5 in December versus +0.9 in November.

At 3.00 am ET, Spain’s INE is slated to issue producer prices data for October. Prices had advanced 23.6 percent annually in September.

Half an hour later, Sweden’s central bank announces its monetary policy decision. In the meantime, Statistics Sweden issues producer prices and household lending data.

At 4.00 am ET, Poland’s unemployment data is due. The jobless rate is seen at 5.5 percent in October versus 5.6 percent in September.

At 6.00 am ET, the Confederation of British Industry releases Distributive Trades survey results.

At 7.30 am ET, the European Central Bank publishes the account of the monetary policy meeting of the governing council held on October 27 and 28.

Amazon Adds 18 New Renewable Energy Projects In US, Europe

Tech behemoth Amazon (AMZN) Wednesday announced plans to invest in 18 new utility-scale wind and solar energy projects across the U.S., Finland, Germany, Italy, Spain, and the U.K.

Amazon now has 274 renewable energy projects globally and claims to be on a path to power 100% of its business operations with renewable energy by 2025, which is five years earlier than its original 2030 commitment.

The new utility-scale wind and solar projects bring Amazon’s total committed renewable electricity production capacity to more than 12 GW and 33,700 gigawatt hours (GWh) when the projects become fully operational, or electricity output equivalent to powering more than 3 million U.S. homes for a year.

The projects will supply renewable energy for Amazon’s corporate offices, fulfillment centers, and Amazon Web Services (AWS) data centers.

“We are moving quickly and deliberately to reduce our carbon emissions and address the climate crisis,” said Kara Hurst, vice president of worldwide sustainability at Amazon. “Significant investments in renewable energy globally are an important step in delivering on The Climate Pledge, our commitment to reach net-zero carbon by 2040, 10 years ahead of the Paris Agreement. Renewable energy projects also bring new investment, green jobs, and advance the decarbonization of the electricity systems in communities around the world.”

Sharon Jackson To Depart WME At End Of Year To Become A Manager

EXCLUSIVE: Longtime talent agent Sharon Jackson is leaving WME to become a manager. Details of which management firm she will be landing are still being worked out. Insiders say Jackson will remain at the agency till the end of the year.

The veteran agent joined Endeavor from UTA in 2008.  She played a major role in building WME’s talent and comedy business, representing clients including Jonah Hill, Amy Schumer, Amy Poehler, Jack Black, Aziz Ansari, Elisabeth Moss, Cara Delevigne, Rebel Wilson, Natasha Lyonne, etc. She informed the agency today.

 

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Stacey Abrams Announces She's Running for Georgia Governor Again

Democrat Stacey Abrams is making another run for the Georgia governorship.

The lawyer and former minority leader of the Georgia House of Representatives announced her campaign in a video shared on Twitter Wednesday. “Regardless of the pandemic or the storms, the obstacles in our way or the forces determined to divide us, my job has been to just put my head down and keep working toward one Georgia,” she said. “Because in the end, we are one Georgia.”

This will be Abrams’ second run at the state’s governorship. In 2018, she lost to Republican Brian Kemp, who at the time was serving as Georgia’s secretary of State and top election official. In July 2017, Kemp’s office removed more than 100,000 eligible registered voters from the rolls whose records were flagged for missing too many elections, according to an APM Reports investigation. Abrams referred to the purge as a “use-it-or-lose-it scheme.” Kemp ultimately won the election by 54,000 votes — a narrow 1.4 percent margin of victory.

Following her defeat, Abrams founded Fair Fight Action, an organization that fights voter suppression in Georgia and other states where voting rights are at risk.  “My approach to running for office has always been driven by where can I do the most good, and where are my skills best applied,” she told Rolling Stone in Nov. 2018.

This is a developing news story.