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A Florida jury ordered Tesla to pay $243 million for the fatal Autopilot crash.

 A Florida jury ordered Tesla to pay $243 million for the fatal Autopilot  Elon Musk's electric vehicle company may face additional legal action after a Florida jury on Friday found Tesla (TSLA.O), opens new tab, liable to pay $243 million to victims of a fatal crash in 2019 involving a Model S equipped with Autopilot.  For victims of Autopilot-related accidents, the verdict is an uncommon victory. Based on a more sophisticated version of its driver assistance software, Musk has been pushing for a quick expansion of Tesla's recently launched robotaxi business.  Tesla's stock is down 25% so far this year after dropping 1.8% on Friday.  According to a verdict sheet, jurors in a federal court in Miami granted the estate of Naibel Benavides Leon and her ex-boyfriend Dillon Angulo $129 million in compensatory damages and $200 million in punitive damages .  33% of the compensatory damages, or $42.6 million, were attributed to Tesla.  Although George McGee, ...

Adidas warns that tariffs could hurt US consumers and may raise prices.

Adidas (ADSGn.DE), a sportswear company, opened a new tab on Wednesday and warned that it might have to raise prices in the US after revealing that US tariffs would increase costs by about $200 million ($231 million) in the second half.

Adidas' stock fell 11% on the worst day since U.S. President Donald Trump announced higher tariffs in April, increasing the stock's losses since the year's beginning to 26%.
Adidas claimed that trade uncertainty was preventing it from raising its yearly guidance and that it had not yet made a decision regarding potential price hikes in the US to lessen the impact.

CEO Bjorn Gulden stressed during a call with analysts that the ultimate tariff levels were still unknown, but he expressed concern about how higher prices would affect U.S. consumer demand.
"To be honest, I'm more concerned about how consumers will react to the price increases that I believe will occur not only in our industry but also in the United States as a whole than I am about the cost," Gulden said.
"Things will happen on the demand side, and volumes will obviously decline if we have massive inflation in the United States."

Gulden declined to speculate on the potential price increase, saying Adidas will review its pricing and determine which products it could raise prices on in the U.S. once tariffs are finalized.
As long as possible, he stated, "We will try to keep the prices on known models stable and then do new pricing on products that haven't existed before."
 
According to data compiled by LSEG, Adidas' second-quarter sales climbed 2.2% in euros to 5.95 billion ($6.9 billion), which was less than the average estimate of 6.2 billion euros made by analysts.
The shortfall will probably exacerbate worries that Adidas is losing ground following a period of exceptionally robust sales growth driven by its stylish three-striped, multicolored Samba and Gazelle shoes.

In a note to clients, UBS analyst Robert Krankowski stated, "The company will need to deliver a reassuring message regarding the outlook for H2 and the early 2026 order book if investors are to view this as a temporary setback."


SOURCE : NEWS AGENCIES

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