BREAKING: Ford will split its fast-growing electric vehicle operations from its legacy combustion engine business in a historic reorganization trib.al/KnFp8xr
The newly formed Ford Model e unit will scale up the automaker’s EV offerings and develop software and connected-vehicle technology and services for all of the company.
Ford Blue will focus on combustion vehicles, cutting costs and simplifying operations bloom.bg/3CaOauz
Ford says it will make 2 million EVs annually by 2026, building on its plan to manufacture 600,000 a year by 2024 bloom.bg/3CaOauz
“We are going all in, creating separate but complementary businesses that give us start-up speed and unbridled innovation,” Ford CEO Jim Farley says in a statement bloom.bg/3CaOauz
CEO Jim Farley has been working closely with Doug Field, the former head of Apple's car project, on reviewing Ford’s operational and manufacturing structure to prepare for the company ramping up its EV offerings bloom.bg/3CaOauz
Ford’s shake-up—along with new targets for higher EV production and overall profitability—sent shares up as much as 5.4% to $17.60 before the start of regular trading bloom.bg/3CaOauz
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Around three-quarters of a million people have fled from Ukraine into the EU since Russia's invasion began, with UN agencies projecting as many as 4 million refugees if the fighting continues
Vladimir Putin “badly miscalculated” with his invasion of Ukraine, Biden said in his first #SOTU address on Tuesday, calling the Russian leader a “dictator” and warning that the war will leave his country weaker trib.al/4Q9urWq
In a show of solidarity with Ukraine, Biden asked the audience for his speech to stand. Many lawmakers and guests held Ukrainian flags trib.al/4Q9urWq
Though the war in Ukraine forced the White House to recast Biden’s speech, he spent less than 10 minutes discussing the conflict and Putin before turning to the issue Americans care most about: the economic hardships of the pandemic trib.al/4Q9urWq
WATCH: Biden will deliver his first #SOTU address, set against the turmoil of Russia invading Ukraine, surging inflation, deadlock over his domestic legislative agenda, and lingering effects of the pandemic bloom.bg/3psKLC8twitter.com/i/broadcasts/1…
Latvia amends its national security law to allow citizens to voluntarily go to Ukraine to fight in its war with Russia, after President Volodymyr Zelenskiy's plea for foreigners to join Ukraine's forces
Hong Kong’s latest Covid containment campaign is taking its greatest toll on the hundreds of thousands of migrant women who work as live-in domestic workers in the city. We've made this story free to read. trib.al/fiiI51L via @bbgEquality
LATEST: Hong Kong reports a record 34,466 new cases on Monday and 87 deaths, making the outbreak much bigger than any the zero-tolerance approach pioneered by China has ever quelled trib.al/0m03gqc
Hong Kong's hospitals are inundated and the city’s morgues are nearly full, with bodies of those who died from Covid left in emergency wards and hallways trib.al/0m03gqc