Latest news with #Jonas
Business Insider
5 days ago
- Business
- Business Insider
Lucid Stock (LCID): Morgan Stanley Sees ‘Strategic Opportunities' in Uber Deal Ahead of Q2 Results
Luxury electric vehicle (EV) maker Lucid Group (LCID) will report its Q2 results on August 6. The stock gained over 36% on Thursday after the company announced a new partnership with Uber (UBER) and autonomous tech startup Nuro. The three companies plan to deploy 20,000 Lucid Gravity SUVs, equipped with Nuro's self-driving technology, on Uber's network over the next six years. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Following the news, Top Morgan Stanley analyst Adam Jonas reiterated a Hold rating on Lucid with a $3.00 price target. Four-star analyst Adam Jonas believes the Uber-Nuro deal shows that Lucid is expanding its focus beyond EVs and starting to pursue 'AI-enabled autonomy' through strategic partnerships. Analyst Sees Long-Term Value in the Uber Deal Jonas highlighted Lucid's upcoming Gravity SUV as a key part of the company's next growth phase. He believes the deal shows Lucid's potential to play a bigger role in the AI and self-driving space. As part of the deal, Uber will invest $300 million in Lucid. While the amount is relatively small compared to Lucid's ongoing cash needs, Jonas believes it could provide short-term support as Lucid works to ramp up Gravity production. Although Morgan Stanley remains cautious on the stock, the firm views the deal as an important step that could lead to more partnerships in AI, EV technology, and global markets, helping Lucid strengthen its position in the fast-growing autonomous driving space. What's Ahead for Lucid Stock? Looking ahead into the Q2 earnings season, Wall Street forecasts a Q2 2025 loss of $0.22 per share, an improvement from the $0.34 per share loss in the same quarter last year. Meanwhile, revenues are expected to rise by 41% from the same quarter last year, reaching $283.2 million, according to data from the TipRanks Forecast page. Investors will be watching closely for updates on Gravity production, spending levels, and any early signs of revenue growth tied to these new partnerships. Is LCID Stock a Buy? The stock of Lucid Group has a consensus Hold rating among ten Wall Street analysts. That rating is currently based on one Buy, eight Hold, and one Sell recommendations issued in the past three months. The average LCID price target of $2.70 implies 13.46% downside from current levels.
The Star
6 days ago
- Entertainment
- The Star
Kevin Jonas says he lost 90% of his fortune amid Jonas Brothers hiatus
Photo: Kevin Jonas/Instagram Kevin Jonas (pic) has revealed he lost 'most of' his money nearly a decade ago, following the Jonas Brothers' 2013 band break-up. The 37-year-old New Jersey native and eldest JoBro appeared with his brothers this week on Lewis Howes' The School Of Greatness podcast, where he said he was left with just 10% of his fortune mere years into their hiatus. 'I've seen the beginning of financial success, not knowing what money really was and understanding it to … losing almost all of it,' Jonas said, attributing the latter to 'a bad business deal.' Jonas explained that roughly nine years ago, he lost nearly all of his money after investing the bulk into 'a bunch of property and doing other things and I was building at the time.' 'Sadly, it just wasn't the right partnership,' Jonas said, noting he couldn't get 'too much into' the details of the deal. 'We had a second shot, bite at the apple, with the band coming back together,' he added of their 2019 reunion. 'And it actually was kind of fortuitous in a way. I learned this lesson, never wanted to learn it but I did.' The group — which also includes brothers Joe, 35, and Nick, 32 — is currently gearing up for the release of its new album, Greetings From Your Hometown , dropping Aug 8, and a North American tour kicking off two days later. – New York Daily News/Tribune News Service
The Star
7 days ago
- Business
- The Star
South Africa coalition strained after trade envoy fails to visit US
FILE PHOTO: Former Deputy Finance Minister Mcebisi Jonas gestures ahead of the Judicial Commission of Inquiry probing state capture in Johannesburg, South Africa August 24, 2018. REUTERS/Siphiwe Sibeko/File Photo JOHANNESBURG (Reuters) -South Africa's main coalition partners are embroiled in a spat over how to respond to looming tariffs from a hostile Trump administration, after the smaller party said the president's aide was denied a U.S. visa to negotiate with Washington. The Democratic Alliance said on Tuesday that the United States had formally rejected President Cyril Ramaphosa's chosen interlocutor, Mcebisi Jonas, and had denied him a diplomatic visa in May. The DA provided no evidence for the claim, which its leading international relations official Emma Louise Powell repeated in a statement on Thursday. Presidency spokesperson Vincent Magwenya, in a response, did not say whether Jonas had been denied a visa. "President Ramaphosa has not had a need for Mr. Jonas to visit the United States on urgent business," he said in a statement. He added that Jonas had been working in the background with the trade and foreign ministries. Since his appointment in April, the government has not mentioned Jonas as having met with any U.S. officials. He was not part of a delegation that travelled to Washington in May, a trip during which U.S. President Donald Trump assailed Ramaphosa in the Oval Office with false claims of mass killings of white South African farmers. Magwenya declined to comment further when Reuters contacted him on Thursday. Jonas did not immediately respond to a text message requesting comment. The U.S. embassy in Pretoria did not immediately respond to a request for comment. Washington's 30% tariff for South Africa kicks in on August 1. Central bank governor Lesetja Kganyago warned on Wednesday that it could trigger 100,000 job losses. Ramaphosa's African National Congress is furious that the white-led DA, which like Trump has criticised South Africa's racial diversity policies, made an independent visit to the United States earlier this year to plead the country's case to U.S. politicians. The erstwhile enemies forged an unlikely coalition after the ANC lost its outright majority in elections last year. But they have clashed over equity laws, education policy and the budget, which the DA has held up on grounds of corruption and waste. Ramaphosa fired a DA deputy minister for failing to get permission to take part in the U.S. trip. "As the ANC continues to engage with ... the likes of Russia and Iran, the DA will continue to ... engage with the international community of democracies," Powell said in a statement defending the DA's U.S. trip on Thursday. (Reporting by Tim Cocks, Alexander Winning and Nellie Peyton; Editing by Joe Bavier)
Straits Times
7 days ago
- Business
- Straits Times
South Africa coalition strained after trade envoy fails to visit US
Find out what's new on ST website and app. FILE PHOTO: Former Deputy Finance Minister Mcebisi Jonas gestures ahead of the Judicial Commission of Inquiry probing state capture in Johannesburg, South Africa August 24, 2018. REUTERS/Siphiwe Sibeko/File Photo JOHANNESBURG - South Africa's main coalition partners are embroiled in a spat over how to respond to looming tariffs from a hostile Trump administration, after the smaller party said the president's aide was denied a U.S. visa to negotiate with Washington. The Democratic Alliance said on Tuesday that the United States had formally rejected President Cyril Ramaphosa's chosen interlocutor, Mcebisi Jonas, and had denied him a diplomatic visa in May. The DA provided no evidence for the claim, which its leading international relations official Emma Louise Powell repeated in a statement on Thursday. Presidency spokesperson Vincent Magwenya, in a response, did not say whether Jonas had been denied a visa. "President Ramaphosa has not had a need for Mr. Jonas to visit the United States on urgent business," he said in a statement. He added that Jonas had been working in the background with the trade and foreign ministries. Since his appointment in April, the government has not mentioned Jonas as having met with any U.S. officials. He was not part of a delegation that travelled to Washington in May, a trip during which U.S. President Donald Trump assailed Ramaphosa in the Oval Office with false claims of mass killings of white South African farmers. Top stories Swipe. Select. Stay informed. Singapore Driverless bus in Sentosa gets green light to run without safety officer in first for S'pore Singapore Fatal abuse of Myanmar maid in Bishan: Traffic Police officer sentenced to 10 years' jail Singapore Man charged over manufacturing DIY Kpods at Yishun home; first such case in Singapore World US strikes destroyed only one of three Iranian nuclear sites, says new report Business 5 things to know about Kuok Hui Kwong, tycoon Robert Kuok's daughter and Shangri-La Asia head honcho Singapore Premium China carmaker Hongqi, known for Xi Jinping's limos, to launch in Singapore in 2026 Singapore Sex first, then you can sell my flat: Women property agents fend off indecent proposals and harassment Opinion Grab tried to disrupt taxis. It now wants to save them Magwenya declined to comment further when Reuters contacted him on Thursday. Jonas did not immediately respond to a text message requesting comment. The U.S. embassy in Pretoria did not immediately respond to a request for comment. Washington's 30% tariff for South Africa kicks in on August 1. Central bank governor Lesetja Kganyago warned on Wednesday that it could trigger 100,000 job losses. Ramaphosa's African National Congress is furious that the white-led DA, which like Trump has criticised South Africa's racial diversity policies, made an independent visit to the United States earlier this year to plead the country's case to U.S. politicians. The erstwhile enemies forged an unlikely coalition after the ANC lost its outright majority in elections last year. But they have clashed over equity laws, education policy and the budget, which the DA has held up on grounds of corruption and waste. Ramaphosa fired a DA deputy minister for failing to get permission to take part in the U.S. trip. "As the ANC continues to engage with ... the likes of Russia and Iran, the DA will continue to ... engage with the international community of democracies," Powell said in a statement defending the DA's U.S. trip on Thursday. REUTERS
The Citizen
7 days ago
- Politics
- The Citizen
Ramaphosa's words flatter, his actions offend
President's refusal to heed US rejection of Jonas has left SA exposed as 30% trade tariffs come into force in August. The controversy surrounding America's refusal of Mcebisi Jonas's application for a diplomatic visa is both surprising and troubling. Three months after his appointment, the public still does not know what he has done – if anything – in executing his mandate. When President Cyril Ramaphosa announced Jonas's appointment as his special envoy on 14 April 2025, he made his responsibilities clear in a press release: 'I hereby announce the appointment of Mr Mcebisi Jonas as my Special Envoy to the United States of America, serving as the official representative of the President and the government of the Republic of South Africa.' 'In this capacity, Mr Jonas is entrusted with the responsibility to advance South Africa's diplomatic, trade and bilateral priorities. He will lead negotiations, foster strategic partnerships and engage with US government officials and private-sector leaders to promote our nation's interests,' the president said. ALSO READ: 'Right-wing nexus': Presidency cautions South Africans against the DA [VIDEO] The mandate could not be more explicit. The role entails direct, high-level engagement with the Trump administration, particularly as SA faces steep US trade tariffs that take effect from 1 August. Read more Police scandal: Justice must now be served However, the Democratic Alliance revealed on Monday that Jonas' application for a diplomatic visa was denied, his credentials were formally rejected and that the South African government was 'explicitly' advised on multiple occasions that Jonas 'was not acceptable to Washington' and was urged to appoint an alternative envoy. The Presidency hit back yesterday in a strongly worded statement by spokesperson Vincent Magwenya. He came out swinging against the DA, labelling the revelation as an effort to 'embarrass the President' and that the 'DA has positioned itself as part of a right-wing nexus that seeks to use a foreign state to effect changes to democratically developed national policies in our own country'. ALSO READ: Ramaphosa 'satisfied' with Mcebisi Jonas's work despite being snubbed by Trump But he didn't dispute the facts the DA put on the table. Instead, Magwenya suggested that Jonas didn't need one to fulfil his responsibilities and downplayed his role. 'The facts around this matter include the reality that Special Envoys do not present diplomatic credentials to host countries in the way designated Heads of Mission or other diplomats are.' Magwenya continued: 'Mr Jonas has, however, played an important role in working with the DTIC [Department of Trade, Industry and Competition] to develop the trade proposals in which South Africa is currently engaging the United States in good faith and with the expectation of mutually beneficial terms. 'Similarly, he has been assisting Dirco [Department of International Relations and Cooperation] in Government's efforts to reset diplomatic relations and all areas of cooperation between South Africa and the United States.' 'While these processes are underway and in view of President Ramaphosa's telephonic contact with President Trump as well as his Working Visit to Washington in May 2025, President Ramaphosa has not had a need for Mr Jonas to visit the United States on urgent business.' This is a notable shift. The original mandate stated that Jonas would lead negotiations. Now, he is merely assisting departments that lead. ALSO READ: Presidency clarifies Mcebisi Jonas' absence from Ramaphosa's meeting with Trump These developments also followed Magwenya's statement to Dawie Boonzaair, a reporter at Rapport/City Press over the weekend, that the President was 'satisfied' with Jona's work. However, he declined to comment on what Jonas has achieved. This lack of clarity undermines the seriousness of the appointment, casting doubt on the Presidency's efforts to resolve the diplomatic fallout between the country, which has resulted in the implementation of 30% tariffs. Seen in the context that Jonas was appointed after Washington removed Ebrahim Rasool as ambassador (which was not replaced), it suggests his appointment was to lobby the Trump administration to repair the relationship. However, Ramaphosa did not fire and replace Jonas, despite being aware that Jonas was persona non grata in Washington. He even visited the White House after being informed of this. ALSO READ: Is Mcebisi Jonas the right man as SA's US rep? We have seen Ramaphosa's 'do-nothing' approach throughout his time in the Union Buildings. If Jonas had even been somewhat successful, resulting in a reduced tariff of 30%, his appointment would have been considered a success. I am not sure if this is a scandal, but it is indicative of the President's unwillingness to take South Africa into his confidence and be transparent. Numerous qualified individuals in the country can represent South Africa with authority and credibility in Washington and be taken seriously. President Ramaphosa's handling of the Jonas matter reflects a troubling pattern that he is not putting South Africa first and failing to take South Africans into his confidence. Unfortunately, the public has become accustomed to this evasiveness. However, the current fallout with the United States – our second-largest trading partner – marks a serious escalation with real economic consequences. This includes export industries, investor relations, and trade diplomacy. ALSO READ: Ramaphosa appoints Mcebisi Jonas as special envoy to US What makes this even more concerning is the apparent hypocrisy. Just two years ago, South Africa aggressively pushed for the expulsion of US Ambassador Reuben Brigety after he alleged that arms had been loaded onto the Russian ship Lady R, endangering South Africa's relationship with Washington. At the time, the government accused Brigety of misconduct and demanded accountability. Brigety resigned a year later. Yet now, the Presidency appears comfortable sending a representative to the US who the Trump administration sees as diplomatically unacceptable. This is not surprising as Jonas publicly stated in 2020 that Trump is a 'racist, homophobic, narcissistic right-winger'. It may be true, but you don't send someone to stand with a cap in his hand to negotiate with someone you have insulted to this extent. The President has proclaimed in the Oval Office that 'America is a valued partner' and invited Trump to attend the G20 in South Africa, but sending a politically compromised envoy to repair one of South Africa's most important bilateral relationships is not only unwise – it is deeply disrespectful. And not replacing him after being informed of his undesirability is an even bigger slap in the face. This article was republished from Moneyweb. Read the original here.
