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Tesla leads in driver-assisted technology crashes -U.S. data

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© Reuters. FILE PHOTO: A Tesla logo is seen in Los Angeles, California U.S. January 12, 2018. REUTERS/Lucy Nicholson

By David Shepardson

WASHINGTON (Reuters) – Tesla (NASDAQ:TSLA) Inc reported 273 vehicle crashes since July involving advanced driving assistance systems, more than any other automaker, according to data U.S. auto safety regulators released on Wednesday.

Automakers and tech companies reported more than 500 crashes since June 2021, when the National Highway Traffic Safety Administration (NHTSA) issued an order requiring the information. Two U.S. Senators called for a deeper probe of the “out-of-control industry,” and a U.S. safety board said the data was not standardized so it was hard to evaluate performance of each carmaker’s system.

Car companies are rushing to add driver assistance systems, saying these improve safety by handling some maneuvers. U.S. regulators are trying to understand the practical effect of the changes. But automakers collect and report data in different ways, making it difficult to evaluate systems performance.

Democratic Senators Ed Markey and Richard Blumenthal told NHTSA in a letter that “publicizing the data alone is not enough. We urge NHTSA to … shed needed light on this out-of-control industry and impose guardrails to prevent more deadly crashes.”

The current report contains “a ‘fruit bowl’ of data with a lot of caveats, making it difficult” to understand, National Transportation Safety Board (NTSB) Chair Jennifer Homendy said in a statement. “Tesla collects a huge amount of high-quality data, which may mean they’re overrepresented in NHTSA’s release.”

Tesla’s advanced driver assistant software dubbed “Full Self Driving” has also created confusion about vehicle capabilities.

The senators raised alarm about the high number of Tesla crashes. “We worry that some drivers today are using the technology as a convenience feature and are placing themselves and other road users in danger,” Markey and Blumenthal wrote.

NHTSA ordered companies to quickly report all crashes involving advanced driver assistance systems (ADAS) and vehicles equipped with automated driving systems being tested on public roads.

Of the 392 such crashes reported by a dozen automakers since July, six deaths were reported and five serious injuries. Honda Motor identified 90 crashes.

Companies also reported 130 crashes involving prototype automated driving systems, while 108 involved no injuries and one was a serious injury crash.

NHTSA said Alphabet (NASDAQ:GOOGL) Inc’s self-driving car unit Waymo reported 62 crashes involving automated driving systems, while General Motors (NYSE:GM)’ Cruise had 23.

Waymo said its crashes were not high severity and one-third were in manual mode. Airbags deployed in only two crashes.

Cruise said it “has logged millions of miles in one of the most complex urban driving environments because saving lives is our chief aim.”

The NTSB reiterated a five-year-old recommendation that NHTSA require automakers to provide standardized crash and usage data. It made the recommendation after the a 2016 crash killed a Tesla driver using the company’s Autopilot system, which the company website says “enables your car to steer, accelerate and brake automatically within its lane” but still requires the driver’s attention.

NHTSA said the first batch of data has already been used to trigger investigations and recalls and helped inform existing defect probes.

The data “will help our investigators quickly identify potential defect trends,” NHTSA Administrator Steven Cliff said, cautioning the raw number of incidents reported per manufacturer “is by itself inadequate to draw conclusions.”

The agency emphasized crashes are tracked by individual automakers in different ways and discouraged comparisons in part because there are no comprehensive metrics on how widely each system is used.

Tesla did not respond to requests for comment.

Honda told Reuters it had found no defects in the systems and its crash reports were based on unverified customer statements “to comply with NHTSA’s 24-hour reporting deadline.”

No other automaker reported more than 10 ADAS crashes during the period.

Despite the limitations, NHTSA said the data was essential to quickly spot potential defects or safety trends. Incidents that occur when an advanced system was engaged within 30 seconds of a crash must be reported within 24 hours to NHTSA.

The agency plans to release new data monthly.

NHTSA has been scrutinizing Autopilot and said last week it was upgrading its probe into 830,000 Tesla vehicles with the system, a required step before it could seek a recall. The regulator had opened a preliminary evaluation to assess the performance of Autopilot after about a dozen crashes in which Tesla vehicles struck stopped emergency vehicles.

Separately, NHTSA has opened 35 special crash investigations involving Tesla vehicles in which ADAS was suspected of being used. A total of 14 crash deaths have been reported in those Tesla investigations, including a May California crash that killed three people.

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Morgan Stanley will cover U.S. employees’ travel for abortion services -source

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© Reuters. The logo for Morgan Stanley is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly

NEW YORK (Reuters) – Morgan Stanley (NYSE:MS) joined other large U.S. banks expanding its healthcare coverage to include travel costs for employees seeking abortion services if they are not locally available, according to a source familiar with the matter.

It is the latest financial company to expand healthcare policies to cover these costs following the Supreme Court’s decision Friday to overturn the 1973 Roe v. Wade precedent that had legalized abortion in the United States. [L1N2YB1AQ]

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Morgan Stanley Has Continued Conviction on Rockwell Automation’s Capex Cycle

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© Reuters. Morgan Stanley Has Continued Conviction On Rockwell Automation’s (ROK) Capex Cycle

By Sam Boughedda

Speaking about Rockwell Automation (NYSE:ROK) after a meeting with its management, Morgan Stanley analyst Joshua Pokrzywinski said in a note to clients that they came away with “continued conviction in a generational capex cycle” that they expect to remain resilient despite a slowing macro environment and choppy supply chain.

“We expect orders to remain healthy as other verticals, both consumer and other short-cycle industrial markets, contend with demand destruction from rising rates and persistent inflation,” wrote Pokrzywinski.

The analyst, who has an Overweight rating and trimmed his price target to $260 (from $277) on the stock, added that at the same time, the pace of improvement on supply chains, particularly for semiconductors appears to be “at best a game of inches for ROK.”

As a result, Morgan Stanley is “reducing FY22 estimates, particularly the seasonal ramp in F4Q22 due to supply constraints.”

“Given the magnitude of the sell-off and persistent strength over the next 2-3 years, we see ROK risk/reward as favorable acknowledging consensus is high for the next 2 quarters.”

Rockwell Automation closed Monday’s session just 0.12% higher.

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U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.20%

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© Reuters U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.20%

Investing.com – U.S. stocks were lower after the close on Monday, as losses in the Consumer Services, Technology and Basic Materials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 0.20%, while the S&P 500 index declined 0.30%, and the NASDAQ Composite index lost 0.72%.

The best performers of the session on the Dow Jones Industrial Average were UnitedHealth Group Incorporated (NYSE:UNH), which rose 2.02% or 10.02 points to trade at 505.66 at the close. Meanwhile, Chevron Corp (NYSE:CVX) added 1.93% or 2.80 points to end at 147.57 and Merck & Company Inc (NYSE:MRK) was up 1.37% or 1.28 points to 94.41 in late trade.

The worst performers of the session were Salesforce.com Inc (NYSE:CRM), which fell 2.48% or 4.61 points to trade at 181.31 at the close. Nike Inc (NYSE:NKE) declined 2.13% or 2.41 points to end at 110.50 and Boeing Co (NYSE:BA) was down 1.99% or 2.81 points to 138.72.

The top performers on the S&P 500 were Valero Energy Corporation (NYSE:VLO) which rose 8.00% to 112.24, Devon Energy Corporation (NYSE:DVN) which was up 7.48% to settle at 57.79 and Hess Corporation (NYSE:HES) which gained 5.18% to close at 106.96.

The worst performers were Etsy Inc (NASDAQ:ETSY) which was down 3.55% to 80.65 in late trade, Electronic Arts Inc (NASDAQ:EA) which lost 3.53% to settle at 125.60 and Autodesk Inc (NASDAQ:ADSK) which was down 3.43% to 185.87 at the close.

The top performers on the NASDAQ Composite were Evofem Biosciences Inc (NASDAQ:EVFM) which rose 187.71% to 1.07, Acutus Medical Inc (NASDAQ:AFIB) which was up 87.59% to settle at 1.01 and Epizyme Inc (NASDAQ:EPZM) which gained 55.14% to close at 1.48.

The worst performers were Powerbridge Technologies Co Ltd (NASDAQ:PBTS) which was down 34.95% to 0.67 in late trade, Borqs Technologies Inc (NASDAQ:BRQS) which lost 24.38% to settle at 2.15 and Enochian Biosciences Inc (NASDAQ:ENOB) which was down 21.92% to 2.60 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1738 to 1413 and 116 ended unchanged; on the Nasdaq Stock Exchange, 1948 rose and 1867 declined, while 175 ended unchanged.

Shares in Borqs Technologies Inc (NASDAQ:BRQS) fell to 52-week lows; down 24.38% or 0.69 to 2.15. Shares in Enochian Biosciences Inc (NASDAQ:ENOB) fell to 52-week lows; losing 21.92% or 0.73 to 2.60.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 1.03% to 26.95.

Gold Futures for August delivery was down 0.38% or 6.95 to $1,823.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.92% or 2.07 to hit $109.69 a barrel, while the September Brent oil contract rose 1.80% or 1.96 to trade at $111.06 a barrel.

EUR/USD was unchanged 0.27% to 1.06, while USD/JPY rose 0.22% to 135.46.

The US Dollar Index Futures was down 0.26% at 103.69.

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