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  Reuters

  EV startup Lucid enters lucrative SUV market with $80,000 Gravity

  Lucid, known for its flagship Air luxury electric sedan, unveiled the much-awaited Gravity sport utility vehicle on Thursday, driving the startup into a lucrative section of the U.S. auto industry amid growing caution over slowing EV demand. Though the 5.3-meter-long, three-row Gravity will come with a battery pack similar to the Air, the vehicle has been designed on a new platform from the ground up, Lucid's Chief Executive Officer Peter Rawlinson told Reuters at a preview this month. "The Gravity will significantly expand our market opportunity, and open up a total addressable market that is nearly 3X larger and growing," Rawlinson told analysts on a post-earnings conference call last week.

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  Reuters

  Nikola founder Trevor Milton seeks probation after fraud conviction

  Trevor Milton, the convicted founder of electric- and hydrogen-powered truck maker Nikola, is seeking to avoid prison, with his lawyers saying his case differed from that of Theranos' Elizabeth Holmes, another startup founder convicted of fraud. Milton, 41, had been found guilty by a federal jury in Manhattan in October 2022 on two counts of wire fraud and one count of securities fraud, after prosecutors branded him a "con man" who lied to investors about Nikola's technology. Prosecutors said Milton's improper statements included that Nikola had built a pickup from the "ground up," developed batteries he knew it was buying elsewhere, and had early success creating a "Nikola One" semi-truck he knew did not work.

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  Reuters

  Amazon to sell Hyundai vehicles online starting in 2024

  Amazon will begin selling Hyundai vehicles online in the U.S. starting next year, the two companies said on Thursday. Customers will be able to shop for, equip and buy a car at Amazon.com and schedule delivery through a local Hyundai dealer, the companies said. The agreement is an expansion of a deal announced two years ago to expand Hyundai's digital showroom on Amazon.com, enabling customers to configure a vehicle, calculate the price and locate a dealer to complete the sale.

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  Barrons.com

  7 Tech Stocks Beyond Apple to Hold for the Long Haul

  Larger technology stocks have burst higher, but the smart move is to hold them, not sell. Early on, it surged as analysts following companies in the fund raised their estimates for profit growth because artificial intelligence is enhancing product offerings, potentially allowing larger companies to take market share. Many are at the center of the emergence of AI or simply stand to benefit from the continued growth of the overall software business.

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  Bloomberg

  Xi's 'Heart-Warming' Pledge for Foreign Investors Clashes With China Reality

  (Bloomberg) -- Xi Jinping’s message that China wants to roll out the red carpet for foreign businesses stands in stark contrast to the increasing difficulties many companies experience on the ground. Most Read from BloombergAston Martin Owner Lawrence Stroll Sells F1 Team Stake at £1 Billion ValuationBacklash Spreads Over Musk’s Endorsement of Antisemitic PostHamas Mastermind Who Tricked Israel Is Top Target in Gaza TunnelsApple Plans to Make It Easier to Text Between iPhones and AndroidsApple’s

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  SmartAsset

  Every State That Doesn't Tax Retirement Income

  States vary widely in the way they tax retirement income so location is an important consideration in financially planning for retirement. Some states don't levy income states on any sort of retirement income, while others tax IRA and 401(k) distributions, … Continue reading → The post 11 States That Do Not Tax Retirement Income appeared first on SmartAsset Blog.

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  Bloomberg

  Oil Heads for Fourth Weekly Drop as High Supply Pressures OPEC

  (Bloomberg) -- Oil headed for a fourth straight weekly loss after sinking into a bear market, posing a headache for OPEC+ leaders set to review production targets later this month. Most Read from BloombergAston Martin Owner Lawrence Stroll Sells F1 Team Stake at £1 Billion ValuationBacklash Spreads Over Musk’s Endorsement of Antisemitic PostHamas Mastermind Who Tricked Israel Is Top Target in Gaza TunnelsApple Plans to Make It Easier to Text Between iPhones and AndroidsXi’s Big Week Ends With Ra

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  Reuters

  OPEC+ to consider whether more oil cuts needed - sources

  OPEC+ is set to consider whether to make additional oil supply cuts when the group meets later this month, three OPEC+ sources told Reuters after prices dropped by almost 20 percent since late September. Oil has slid to around $79 a barrel for Brent crude from a 2023 high in September near $98. Concern about demand and a possible surplus next year has pressured prices, despite support from the OPEC+ cuts and conflict in the Middle East.

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  SmartAsset

  $800,000 Bucks Will Buy You This Much Retirement

  Saving for retirement is one of the most important parts of securing your financial future. While programs like Social Security can help, they often aren't enough on their own. This is why it is crucial to have retirement savings of … Continue reading → The post How Long Will $800,000 Last in Retirement? appeared first on SmartAsset Blog.