Ford Pledges $700 Million U.S. Investment To Expand Flat Rock Plant
Ford plans a $700 million expansion at the Flat Rock Michigan assembly site, adding 700 hourly jobs to build self driving and electric vehicles along with Mustang and Lincoln Continental. The company cancels a $1.6 billion Mexico plant and confirms Focus production will move to Hermosillo. CEO Mark Fields cites a improving U.S. manufacturing climate under President-elect Trump. Ford targets a 2020 launch for a 300 mile range electric SUV and a fully autonomous vehicle at Flat Rock as part of seven electrified models in five years.
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Retail stores embrace high tech to lure shoppers back
Las Vegas CBS gadget show highlights how stores including Amazon in Seattle plan checkout free shopping with sensor tracked baskets and automatic charges. Kroger Neiman Marcus and Lowe’s trial robots interactive mirrors smart shelves and AR to boost in store spending while keeping user friendly value.
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Starbucks set to overtake McDonalds in restaurant market
Nomura analyst Mark Kalinowski predicts Starbucks will become the world’s most valuable restaurant chain with around 50 000 locations. He sees 8.4 percent unit growth in 2017 and same store sales gains above 5 percent, aided by beverage demand and less direct competition from food-focused rivals.
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Solar power undercuts coal in parts of world
Solar is cheaper than coal in some regions with deals in 2016 dipping below 3 cents per kWh. Countries from Chile to the UAE led the way and Saudi Arabia, Jordan, and Mexico plan auctions this year to push prices lower while Enel SpA and Mainstream Renewable Power expand globally as subsidies fall. Solar costs have fallen 62 percent since 2009, boosting capacity and cutting loan risks, with Bloomberg New Energy Finance predicting global solar to beat coal on average by 2025.
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