Core Insights - Shell has entered into a long-term agreement to supply renewable energy to Ferrari until the end of 2034, aimed at assisting the luxury car manufacturer in reducing its carbon emissions [1] Company Summary - Shell will provide renewable energy to Ferrari, indicating a strategic partnership focused on sustainability [1] - The deal is set to last until the end of 2034, highlighting a long-term commitment to renewable energy supply [1] Industry Summary - The agreement reflects a growing trend in the automotive industry towards sustainability and reducing carbon footprints [1] - Collaborations between energy companies and automotive manufacturers are becoming increasingly important in the transition to greener energy solutions [1]

While many retirees live on a fixed income and have to find ways to cut down on unnecessary spending or excessive costs, some have a little more wiggle room in their budgets. For those who love to spend money, this can equate to buying a lot of things — essential or otherwise. For You: Here’s How Much You Need To Retire With a $100K Lifestyle Learn About: 3 Advanced Investing Moves Experts Use To Minimize Taxes and Help Boost Returns But even spendthrifts will balk at certain purchases. Whether it’s becau ...

Core Viewpoint - Jaguar Land Rover (JLR), owned by Tata Motors, is raising £2 billion ($2.7 billion) in loans from global banks to alleviate financial strain caused by a cyberattack that halted production [1][3]. Group 1: Funding Details - The foreign currency facility will be priced at approximately 110 basis points over the secured overnight funding rate (SOFR) [2]. - Citigroup, Mitsubishi UFJ Financial Group, and Standard Chartered Bank have agreed to provide the 18-month credit facility, with potential syndication to more banks later [2]. - This funding comes in addition to a £1.5 billion loan guarantee from the UK government to support cash reserves and the supply chain affected by the cyberattack [6]. Group 2: Operational Impact - The cyberattack has severely disrupted operations at JLR, affecting plants in the UK, Slovakia, Brazil, and India, leading to chaos in the auto supply chain [7]. - JLR is currently working to clear a backlog of payments owed to suppliers as it navigates through the operational challenges [7]. - Some systems have been restored, allowing JLR to process supplier invoices and expedite parts distribution, with plans to restart some manufacturing operations on October 1 [8]. Group 3: Financial Context - The funding requirement arises just months after JLR achieved its goal of becoming net debt-free, indicating a significant shift in financial strategy due to unforeseen circumstances [4]. - Automotive suppliers typically operate on thin margins and require high working capital, making them vulnerable to disruptions like the one JLR is facing [4].

Ferrari on Tuesday said tariffs imposed by the U.S. pose a potential risk to the luxury car maker's profitability, becoming the latest company to warn about a hit to earnings or cut financial forecasts as many cite market uncertainty aggravated by President Donald Trump's levies. Ferrari noted in its first-quarter financial report the company was subject to a "potential risk" of a 50 basis points reduction to earnings in 2025, as the luxury car maker cited the "introduction of import tariffs on [European] c ...