EV manufacturing jumps in UK, total manufacturing sinks to 65-year low

A Nissan Leaf on the forecourt of a dealership in Lincoln, UK

Chris Ratcliffe | Bloomberg | Getty Images

Car production in the UK slumped by 6.7% to just 859,575 units in 2021, new figures published by the Society of Motor Manufacturers and Traders show.

In a statement Thursday, the SMMT said the output represented the “worst total since 1956” and was 34% lower than 2019, the year before the Covid-19 pandemic struck.

While the headline figures for 2021 are disappointing — the SMMT pinpointed the semiconductor shortage as being the “principal cause of the decline” — the low and zero-emission segment of the sector provided some light amid the gloom.

The SMMT said that British factories manufactured a record amount of battery electric, hybrid electric and plug-in hybrid vehicles in 2021, with a total of 224,011 being made. This represents a 26.1% share of all cars produced last year.

“More positively, the shift to electrified vehicle manufacture continued apace as BEV production surged 72.0%,” the SMMT said, “while hybrids rose 16.4%, as the UK industry — like the market — transforms into a low and, ultimately, zero- carbon industry.”

Read more about electric vehicles from CNBC Pro

The UK wants to stop the sale of new diesel and gasoline cars and vans by 2030. It will require, from 2035, all new cars and vans to have zero tailpipe emissions. The task is huge and the sector is still dominated by vehicles running on fossil fuels.

Although the market has been significantly affected by the pandemic, customers’ habits could nevertheless be on the verge of a significant change.

A record 190,727 new battery electric cars were registered in the UK last year, according to the SMMT, with Tesla’s Model 3 the best-selling battery electric model. Indeed, the Model 3 was the second most popular new car overall behind the Vauxhall Corsa, the industry body says.

In a release earlier this month, the SMMT described 2021 as the “most successful year in history for electric vehicle uptake.” It said that more new battery electric vehicles had been registered in 2021 than over the five previous years combined.

Lowe’s will open mini Petco outlets inside some shops

Lowe’s is opening petco stores in some of its stores as part of a pilot program. The first is scheduled to open in Texas in February.

Source: Petco

lowes will soon be testing a new offer: A Petco Shop the stores where customers can buy dog ​​food and kitty litter, and even visit a vet while shopping for paint and other materials for home projects.

The two retailers announced a deal Thursday to test the store-in-store locations. The first will open near San Antonio in early February, with 14 additional locations planned in Texas, North Carolina, and South Carolina by the end of March.

The companies declined to share financial terms or the length of the deal.

Lowe’s and Petco have been beneficiaries of the pandemic as Americans took on do-it-yourself projects and adopted pets while spending more time at home. However, retailers could face a more challenging backdrop in the coming months if consumers feel pressured by rising inflation or decide to spend a larger chunk of budget on vacations and nights out rather than pet supplies and home projects.

Lowe’s has been looking at new product categories to keep sales growing while benefiting from a strong real estate market. It added more home decor to its website and stores. It started an initiative to sell and install items that enable seniors to grow old in their own four walls. And it began piloting fitness equipment like treadmills, rowers, and free weights in about 20 of its stores. It already carries some pet-related items, like dog beds and pet-safe rugs.

For Petco, the curated version of its stores is a way to engage more shoppers and potentially get them to visit its larger stores and website as it competes with online players such as Tough.

Nick Konat, Petco’s chief merchandising officer, said he expects the stores will particularly appeal to DIY-savvy millennials. During the pandemic, many of these 20- and 30-year-olds have been leaders “Nesting” trendswhen they bought houses or moved to bigger towns, adopted cats or dogs — and in some cases treated pets as a “trial run” before having children, he said.

“They are high-spending customers and they really care about their pet like family,” he said. “And they’ve done the same to their homes, with many of them being new homeowners or new renters.”

Each shop will feature Petco’s cat and dog logo and merchandise, including some of its exclusive brands such as food brand WholeHearted and fashion brand Youly, as well as national brands. It will feature more than 700 items that customers can buy online and pick up in store if they live near a Lowe’s store that is part of the pilot. Some stores also offer services from visiting veterinarians and pet professionals, including vaccinations, microchipping, prescription pest prevention, and mobile grooming.

The store-in-store will vary in size, but the first location will be about 1,000 square feet and will be in front of the store, said Bill Boltz, Lowe’s executive vice president of merchandising.

The stores will be staffed by a Petco employee, in addition to those at Lowe’s, Konat said.

Other retailers have similar partnerships. aim made a deal with Ultimate beauty to opens curated stores in hundreds of its big box stores — and has similar shop-in-shops Apple and Disney at selected locations. cabbage signed a contract with Sephora to have its beauty salons in stores. Kroger will wear something bed bath beyond Goods in selected stores and Macy’s is Toys R Us stores open.

As of Wednesday’s close, shares of Lowe and Petco are both down about 12% this year. Lowe’s and Petco shares closed Wednesday at $228.10 and $17.43, respectively. Lowe’s shares are up nearly 31% over the past 12 months, giving it a market cap of $153.68 billion. Petco’s shares are down about 37% over the past 12 months, giving it a market value of $5.27 billion.

Boeing posts third annual loss in a row as Dreamliner prices hit $5.5 billion

Boeing a major milestone in its year-long 737 Max crisis deliveries jump helped generate cash in the fourth quarter for the first time in almost three years.

But now the company is facing mounting spending on its 787 Dreamliner program, which on Wednesday revealed $5.5 billion in costs related to manufacturing defects that have prevented Boeing from making these new ones over the past 15 months Handing over jets to customers.

Shares of the company fell more than 5% in afternoon trade, more than the broader market.

The manufacturer took a pre-tax charge of $3.5 billion for the Dreamliner in the fourth quarter. It expects an additional $2 billion in costs after cutting production of the planes, double its previous estimate.

“We can’t rush it”

Boeing first disclosed the flaws – tiny, improper clearances on some fuselages – in 2020. Defects were also found in other parts of some aircraft, and Boeing had to inspect the undelivered jets.

“While I don’t like any of the allegations, the progress has been significant,” CEO Dave Calhoun told CNBC.screeching in the streeton Wednesday about the 787. He declined to say when he expects regulators to grant approval and deliveries to resume. “We can’t rush it.”

Boeing reported free cash flow of $494 million for the fourth quarter, up from an outflow of $4.27 billion a year earlier, a milestone Boeing executives previously said they wouldn’t hit until 2022. It was spurred by a surge in 737 Max deliveries last year after regulators lifted bans on the jets following fatal crashes in 2018 and 2019.

China

China, a key customer for Boeing and the first country to ground the Max after the second crash, the last month was approaching lift its ban in the planes.

CFO Brian West told analysts on the quarterly conference call that shipments to China could resume “as early as the first quarter” of 2022, which could help the company generate more cash.

Here’s how Boeing compared to analyst estimates prepared by Refinitiv:

  • Adjusted Results: A loss of $7.69 per share versus an expected loss of 42 cents per share.
  • Revenue: $14.79 billion versus $16.59 billion expected.

Boeing lost $4.29 billion last year, its third consecutive annual loss Covid pandemic and production problems continued to affect the bottom line. That’s an improvement from 2020, when the company had a loss of $11.94 billion.

For the fourth quarter, Boeing reported a net loss of $4.16 billion, less than half the $8.44 billion it lost a year earlier. Revenue fell 3% year over year to $14.79 billion, down from $16.59 billion that analysts had expected.

‘renovation year’

“2021 was an important recovery year for us, and together we overcame significant hurdles,” Calhoun said in a note to employees on Wednesday. “While we still have work to do, I am confident that we are well positioned to accelerate our progress in 2022 and beyond.”

Chicago-based Boeing aircraft sales and deliveries increased last year, but deliveries of new planes to airlines still lagged behind European rival Airbus. The US company said it has increased production of the 737 Max to 26 a month, closer to the 31 a month it expects this year and up from the 19 a month it released in its last quarterly report.

But Boeing has been paralyzed for months by halting deliveries of its 787 Dreamliners for much of the past year due to a series of manufacturing defects that have left customers baffled American Airlines and Hawaiian Airlines.

American Airlines said last month it would be cutting its international flight schedule over 787 delivery delays. The airline’s CFO, Derek Kerr, said in an earnings call last week that Boeing is already paying penalties for the delays and “will compensate us for the losses” if there are more delays.

More delays

Kerr had said American expects to start deliveries of the Dreamliner again in mid-April, a timeframe Boeing CEO Calhoun did not confirm on Wednesday. “All I’m saying is that customers know everything we do,” Calhoun said, adding that airlines and Boeing “share the same regulator.”

“The company continues to perform follow-up work on 787 aircraft in inventory and is in detailed discussions with the FAA on the actions needed to resume deliveries,” Boeing said in a earnings release. “In the fourth quarter, the Company determined that these activities will take longer than previously anticipated, which will result in further delays in customer delivery dates and related customer considerations.”

CFO West referred to labor, material and supply chain shortages as “observation posts.”

Boeing’s large fleet of aircraft — 335 Max jets expected to be delivered by the end of 2023 — will provide a buffer, Calhoun said.

“When I think about the supply chain constraints that are out there, I hate that we got here this way, but having a stock of finished aircraft, particularly in relation to the Max, is at this moment beneficial,” Calhoun told CNBC.

recovery from travel

Calhoun said he expects the worst is behind the aviation sector after the pandemic crushed demand for air travel and new planes. Airline executives said in early January they expect international travel bookings to rebound this spring and summer after entry restrictions were lifted in recent months.

The company reiterated on Wednesday that it expects passenger traffic to return to 2019 levels next year or 2024.

Suppliers to Boeing and Airbus General Electric on Tuesday forecast a 20% increase in sales this year at its main aerospace division, which manufactures and repairs aircraft engines.

However, the recovery was bumpy. airlines incl delta, United and American earlier this month predicted the rapid spread of the Omicron variant, which began late last year delay a rebound travel demand by about two months. Executives at those airlines said they expect a strong spring and summer travel season.

On Tuesday, the Transportation Security Administration screened 1.06 million people, the fewest since April 2021.

Are Store Credit Cards Useful to Build Credit?

Are installment plan cards good for credit? There are advantages and disadvantages to every kind of credit card. Those who favor unsecured cards might wish to stay clear of secured ones. The advantages on unsecured cards tend to be much more generous than on secured ones. Nonetheless, individuals who make use of store-issued cards regularly will likely discover the advantages to be rewarding. If made use of sensibly, store-issued cards can develop favorable or negative credits.

No matter whether you have bad credit or great, store-issued cards will certainly still enable you to buy things without making use of cash – academy credit card login. Some supply incentives and also discount rates, however you ought to be aware that store-issued cards normally bring high rates of interest and low credit limits. The 10% savings you’ll receive will eventually cost you much more in interest if you don’t settle the balance in a prompt fashion. If you have problem handling your budget or have difficulty paying, you’ll most likely wish to stay clear of store-issued cards.

Although many stores are more than willing to supply store credit cards to those with bad credit, be sure to check out the conditions prior to requesting one. Unlike unsecured credit cards, store-issued credit cards can help construct a credit history and improve your score if you utilize them responsibly. Although the rate of interest on store-issued charge card are higher than those on other credit cards, they can be beneficial for some consumers.

Store-issued bank card can be handy in building your credit. While they might not be perfect for everyone, they are less complicated to make an application for than the majority of other kinds of cards. When used properly, they can improve your rating. As long as you pay the balances in a timely manner and completely, you’ll rejoice you did. Over time, you’ll have a much better credit rating as well as a far better credit rating.

The disadvantage of a store-issued credit card is that it is not as easy as it may appear. For example, a normal store-issued card might have a reduced limitation than a traditional card, so you may need to utilize even more of it. Those with reduced credit limits need to avoid using these cards unless they’re needed for the function of fixing their credit. As well as bear in mind, if you use a store-issued credit card, you ought to pay it off.

Store-issued credit cards are not the very best alternative for people with a poor or undesirable monetary situation. While they’re good for constructing credit, they’re not the most effective alternative for everybody. If you’re already in the red, you should not use a store-issued card. Instead, use a co-branded or general-purpose card. This is most likely to supply you advantages like fraudulence defense as well as no foreign purchase fees.

How a Prepaid Phone Plan Can Work for You

With so much buzz built up around pre paid cell phone service and the barrage of limelights and also ads offered to cell phone company, selecting which prepare to select can be mind boggling. Pre paid cell phone service allows for adaptability that you merely can’t get with standard cell phone carriers.

Pre-paid cell phones do not call for a contract. Whether you keep your cell phone or otherwise is completely approximately you. Most need a recharge as soon as every thirty or ninety days in order to keep the very same cell phone number – www.xfinitymobile.com/activate.

Pre paid cell phones allow a private to budget plan much less each month for their cell phone service. While pre paid cellular phone often tend to set you back even more per minute, someone who picks to utilize it moderately can make their minutes stretch for much less every month.

Pre-paid cellular phone are outstanding for individuals with credit problems that have trouble getting traditional cell phone service, although less business are requiring credit checks, some still do and they can interfere with a person’s ability to purchase a cell phone service plan.

Pre paid cell phones are also an outstanding option for young adults. They get a cell phone allowance monthly as well as it is impossible for them to run up a crazy cell phone expense. If they utilize all their allotted mins in one week, after that they learn to budget plan extra thoroughly for the following month. Pre paid cell phone solutions show teenagers obligation and budgeting strategies, which are fairly helpful abilities to have when they enter the real world.

Pre paid cellular phone are a best choice for people in change. Those who are just temporarily residing in one location while waiting to move on to an additional area can avoid the issues of agreements as well as the trouble of getting their phone number altered when they land in their final destination.

Obviously pre paid cell phones have their hang ups as well. You will lose the ease of merely paying an expense and also need to recharge the cell phone in order to proceed utilizing it, although a lot of will certainly enable you to make use of a credit or debit card in increments as low as $20. You will certainly not have the alternative of being a little late on the cell phone expense when money obtains tight because you have to pay for the solution prior to using it, however, for some people that is a favorable characteristic.

Tech, playing, alcohol helped NFL earn nearly $2 billion in sponsorships

The National Football League is nearing $2 billion in partnership fees, the most in professional sports.

Agreements from betting firms and technology companies helped the NFL lure a record $1.8 billion in sponsorship revenue, sports partnerships consultancy firm IEG told CNBC. The NFL’s figure is a 12% increase year-over-year from $1.62 billion it made in the 2020 season. It pulled $1.47 billion from sponsorships in the 2019 season.

Sports gambling companies, casinos, and lotteries saw the most significant spike in NFL sponsorship agreements. DraftKings, FanDuel, and Caesars became sportsbook partners in 2021 after the companies struck five-year pacts worth just under $1 billion combined. The NFL also landed secondary deals with BetMGM, WynnBet, FoxBet, and PointsBet.

Partnership deals with the NFL usually run from three to seven years and cost a minimum of $10 million per year for smaller companies. More prominent firms could pay more than $200 million per year.

FanDuel app

Andrew Harrer | Bloomberg | Getty Images

Verizon has one of the more prominent NFL deals and paid the league over $300 million annually. Last September, the communications company agreed to a new 10-year deal with the NFL and added 5G rights. But the new deal doesn’t include live streams of games, making it less valuable. That also means the NFL’s mobile rights are also up for grabs.

IEG’s estimates come days after the NFL produced one of its most memorable playoff weekends that included the thrilling overtime game between the Kansas City Chiefs and Buffalo Bills. That game Attracted over 42 million viewersthe highest divisional postseason game since 2017.

“It’s not coming from traditional places,” said Peter Laatz, IEG’s global managing director. “It’s coming from emerging categories. Not only are we seeing emerging talent on the field; we’re seeing emerging categories.”

Although gambling sponsorships saw the biggest increase in the NFL’s 2021 season, tech deals ranked first in absolute dollar figures for 2021, led by Microsoft. The tech giant has an on-the-field deal with the league, which uses Microsoft’s Surface tablet. That agreement is worth roughly $100 million per year, according to IEG data.

Gambling deals ranked second, and alcoholic beverage deals ranked third.

Last December, the NFL renewed its deal with Anheuser-Busch, which pays the NFL more than $250 million per year for beer and hard seltzer rights. The company lost control of hard alcohol rights, which Diageo took over for a reported $30 million per year.

The NFL put its wine and champagne rights up for auction but has yet to strike a partnership for that category.

“They’ve cut those categories (tech and alcohol) pretty fine,” said Laatz, calling the NFL’s sponsorship money a “runway revenue train.” He then projected the NFL would endure a “finer cutting of categories” in the future to grow deals in the US

NFL targets global revenue next

Although the NFL’s total sponsorship revenue increased significantly, the bulk of that growth went to league-wide sponsorships, which grew 23%. NFL clubs only took in 4% additional revenue in rights fees year-over-year.

To grow revenue streams for clubs, the NFL is taking a page from the National Basketball Association’s playbook and allowing teams to leverage international markets. Last month, the NFL permitted 18 teams to market their intellectual property in 26 territories, including Canada, Germany, Mexico and the United Kingdom.

But it could be a while before teams see real traction in that department.

There’s no doubt the NFL is dominant domestically, but American football isn’t a big draw overseas like the NBA. In addition, Canada and Australia already have established football leagues, so the NFL has serious competition.

Laatz said he’s “skeptical” of the NFL’s overseas plan, which the league labeled the “International Home Marketing Areas.” The NFL has tried to grow its product in London with its annual games, and Germany has shown interest in the NFL.

But those sporadic overseas games may not be enough to vault the NFL into international prominence loik the NBA.

“There’s a big difference between playing games internationally, which the NFL has clearly done, and having a prominent NFL footprint to grow the sport overseas,” Laatz said.

Still, to get a sense of the value a US-based sports club can earn from international deals: The Golden State Warriors – one of the most popular NBA teams abroad – agreed to a multi-year global rights sponsorship with crypto platform FTX for roughly $10 million total.

Laetz believes NFL teams’ deals could be even more lucrative.

A Bitcoin symbol on an advertisement at Mass Transit Railway station in Hong Kong, China, on Oct. 27, 2021.

Tyrone Siu | Reuters

Still waiting for crypto deals

Meanwhile, the NFL is taking a wait-and-see approach toward deals in the cryptocurrency space.

Last October, at the NFL’s owner meetings in New York, officials told CNBC that crypto-related deals are still being examined. Laatz called it the “sideline model” – as in, the NFL waits to see how other institutions maneuver.

“They’re careful about not getting into speculative arrangements that can cause backtracking,” said Laatz.

While the NFL stalls on crypto deals, companies are pouring millions into the NBA.

In addition to the FTX Warriors deal, crypto platform Coinbase agreed to a $192 million deal over four years with the NBA. On the team level, the Los Angeles Lakers landed a $700 million naming rights deal with Crypto.com. And the Portland Trail Blazers landed the NBA’s first crypto jersey patch deal.

Outside basketball, Major League Baseball added a crypto patch agreement for its umpires, and individual NFL players like Tom Brady are also striking crypto deals.

But Laetz says the delay won’t really matter, given the NFL’s ample revenue growth. “The thing they are leaving on the table right now is risk.”

Ruth Bader Ginsburg’s books get huge bids in public sale

Justice Ruth Ginsburg

Joanne Rathe | The Boston Globe | Getty Images

More than 1,000 books from late Supreme Court Justice Ruth Bader Ginsburg’s personal library are up for auction—and things are getting expensive.

Bidders are spending thousands of dollars on individual items, including dense law-school textbooks marked up with Ginsburg’s own annotations, a wide range of literary classics, photographs and other memorabilia from the private collection of the trailblazing justice.

The collection went up online last week by auction house Bonhams. The auction won’t close until midday Thursday, but as of Tuesday afternoon, bidding on nearly all of the 166 lots had sailed past high estimates, with some items receiving five-figure bids.

The highest bid so far: $18,000, for a signed copy of “My Life on the Road,” the memoir of leading feminist activist Gloria Steinem.

“To dearest Ruth — who paved the road for us all — with a lifetime of gratitude — Gloria,” Steinem handwritten in Ginsburg’s copy.

Other pricey items include Ginsburg’s copy of the 1957-58 Harvard Law Review, the pages of which are scrawled with her notes. The legal tome currently boasts a high bid of $11,000, well above the top-end estimate of $3,500.

The bids are likely to be even higher as the clock ticks down.

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“With online sales, we usually see a huge rush of activity in the last hours,” said Catherine Williamson, director of fine books and manuscripts and entertainment memorabilia at Bonhams, in a phone interview.

“Not even the last 24 hours, but the last two to four hours, we see this tremendous rush of people running to put their bids in at the last minute,” she said.

Bonhams acknowledges its initial estimates were conservative, since there was very little material related to Ginsburg that had previously come up for auction.

“In some sense we were winging it,” Williamson said. “We wanted to put prices on it that looked really reasonable. We wanted [the] maximum number of people to participate in this auction.”

Many of the items feature warm inscriptions to Ginsburg, who at the time of her death in late 2020 had achieved pop-icon status among her fans.

“Dear Ruth, Thank you for the inspiration and thank you for all you do,” songwriter Diane Warren wrote on the cover of a book of sheet music for “I’ll Fight,” the song she composed for a 2018 documentary on Ginsburg. Both the song and the film were nominated for Academy Awards in 2019.

“Love & songs, Diane,” Warren wrote.

So in the collection was a copy of “The RBG Workout,” featuring a fawning inscription by author Bryant Johnson, Ginsburg’s longtime personal trainer.

“You have made a difference with me, and I hope to pass that on to everyone I can,” Johnson wrote. “You will always be a ‘Super Diva.'”

Some notes shed light on the relationships Ginsburg had fostered with her colleagues atop the American judicial system.

“Ruth- I thought you might like to have one of these little books. Hot off the press,” read a note on an international law book gifted by Sandra Day O’Connor, the first female Supreme Court justice, to Ginsburg, the second.

“To Justice Ginsburg—With respect and warm regards,” read an inscription from the late Justice Antonin Scalia in a copy of his book “Reading Law: The Interpretation of Legal Texts,” which laid out his philosophy of constitutional originalism.

Ginsburg’s unlikely celebrity has brought increased attention and bidding interest to Bonhams from younger potential buyers, “which is exciting,” Williamson said. She compared the Ginsburg auction to Bonhams’ sale last year of the library of legendary actor Marlon Brando.

The new crowd “aren’t really book collectors, per se,” but instead are “thinking of building a collection that’s built around people and events that are very important to them,” Williamson said.

“So there might be Ruth Bader Ginsburg. There might be a fancy pair of sneakers next to that, right?” she said. “It’s a different collecting community.”

AMC reportedly in superior talks to refinance debt

A man walks past the AMC Georgetown 14 Theaters on June 3, 2021 in Washington, DC.

Almond Ngan | AFP | Getty Images

AMC entertainment accelerated its plan to refinance its debt, according to a new report from The Wall Street Journal.

The publication said the The cinema chain is in advanced refinancing talks with several interested parties to reduce the interest burden and extend the terms by several years. This follows comments from CEO Adam Aron earlier this month that one of his key goals for 2022 was to improve the company’s financial position.

An AMC spokesman declined CNBC’s request for comment.

AMC’s total debt tops $5 billion, but Aron has repeatedly cautioned investors that it has no maturities until 2023.

On Tuesday, AMC shares fell more than 4% on debt refinancing news. amid robust selling in the broader market.

AMC’s push to shore up its balance sheet comes as the company’s stock has fallen more than 40% year-to-date, reversing big gains that helped AMC avoid bankruptcy last year. AMC’s stock value was boosted in 2021 by retail investors who closely followed the stock on social media platforms like Reddit.

AMC has been caught up in the meme stock trading frenzy and was able to replenish its coffers through stock sales in early 2021, but twice failed to win shareholder approval to issue new shares in the company. That means the company can’t issue any more shares to pay off its debt.

Read the full report from The Wall Street Journal.

A meals information to the Thai capital

Bangkok revels in its status as a culinary mecca.

From shriveled street vendors performing alchemy with sizzling woks to genius chefs shaping the fine dining scene, the city lays claim to one of the most diverse food scenes in the world.

That’s why food is a common thread that runs through even a brief stay in the Thai capital.

Chinatown and Rattanakosin

Bangkok’s oldest enclaves include visitor highlights such as the Grand Palace and the riverside temple of Wat Pho. Other draws include neighborhoods like Chinatown and Banglamphu, both of which are rich in dining options.

For an old-fashioned start to the day, visitors can fuel up on sweetened coffee, soft-boiled eggs, and toast thickly coated in butter and sangkaya (coconut pudding made from a tropical plant called pandan). On Luke Yun.

After touring the royal sights, travelers can stop for lunch Fat bread for fried flatbread filled with spicy fillings.

Roti Mataba serves buttery, fried roti flatbread that can be stuffed, served with curry, or topped with sweetened condensed milk and sugar.

Palani Mohan | Getty Images

For a more upscale lunch there is Nusara, where Michelin-starred chef Thitid “Ton” Tassanakajohn pays tribute to his late grandmother with his interpretations of traditional Thai recipes. He said it can be challenging to please both travelers and discerning local guests, who often want different things.

“Tourists want to taste what Thai cuisine is all about — they want to taste the traditional recipes,” he said. “On the other hand, local Thai diners like to eat something that tastes familiar, but … they want something new, so it’s forcing chefs to find new ways of working with Thai ingredients and flavors.”

Snacking is a big part of Thai food culture. There’s Nai Mong, which serves Hoi Thod (oyster pancakes) near Wat Mangkon station, or Lao Tang, for tender, braised goose in the heart of Yaowarat Road, Chinatown’s main thoroughfare.

Queues form outside early in the evening Jay Fai where the Michelin-starred owner tempts foodies with dishes like pad kee mao (drunk noodles) and khai jiew poo (crab omelet).

Jay Fai is Thailand’s first street food joint to be awarded a Michelin star. In her 70s, chef and owner Supinya Junsuta covers her eyes with ski goggles to prepare her wok fried dishes in Bangkok, Thailand.

Anusak Laowilas | OnlyPhoto | Getty Images

A more sophisticated Michelin-crowned alternative in the old town is 80/20, where Canadian chef Andrew Martin reinforces the restaurant’s reputation for pioneering flair.

Highlights of its menu include “Stormy Sea,” a squid, mangosteen, and chilli dish inspired by the chef’s fishing trips in southern Thailand, and “Isaan Market,” which focuses solely on seasonal mushrooms from the country’s mountainous northeastern regions Region.

Silom and Sathorn

Nothing is buttoned down on the food scene in the business districts of Silom and Sathorn.

jok prince, near the intersection of Silom Road and Charoenkrung Road, is a stand famous for its smooth, smoky jok (Thai-style rice porridge). From there it is only a short walk Pour from Chef Yip, which serves some of the best — and cheapest — dim sum in town.

Visitors can meander east between Sathorn Road and Silom Road, stopping at the centuries-old Hindu shrine Sri Mariamman Temple and some of the area’s most well-known street vendors.

Two of them already have their specialties in their names. Som Tam Jay So, on Soi Phiphat 2 between Convent Road and Chong Nonsi Skytrain Station, is a must-try for som tam, or spicy papaya salad. Near the Shangri-La Bangkok, Baan Phadthai, meaning “House of Pad Thai,” is known for perhaps the country’s most famous dish.

Som Tam is a sweet Thai salad made with ripe papaya, long beans, lime, garlic, peanuts and sugar.

dontree_m | iStock | Getty Images

For an unforgettable upscale dinner, there is Saawaan, where Sujira “Aom” Pongmorn serves up beef salads, crab fat dips, grilled pork neck and spicy and sour soups in delicious-tasting portions.

For a break from Thai food, travelers can head to Yen Akat Road — one of the area’s trendiest thoroughfares — for beef tartare and truffle risotto Cagette Canteen & Delicatessen. For a different side of Europe, there’s the double Michelin star Suhring, a German fine dining restaurant run by twin brothers was ranked 6th in the 2021 “Asia’s 50 Best Restaurants”.

Siam and Sukhumvit

The hyper-commercial heart of Bangkok is more than just a shopper’s paradise. Breakfast here can be a healthy acai bowl or a breakfast burrito Luke in the Siri house, an elegant oasis with beautiful green grounds near the Chidlom skytrain station.

For a more formal Thai lunch there is paste – voted #38 on Asia’s 50 Best Restaurants list in 2020 – where traditional cuisine is served with creative twists.

Travelers can follow the office crowds Sanguan Sri on Witthayu Road to sample fragrant curries like gaeng kiev wan nuea (green beef curry) in this expatriate-friendly part of Bangkok.

At venues like Appia, a Roman-style trattoria, as well as The market, where a hand-chalked menu offers entrées like New Zealand mussels and Australian tenderloin.

Mango Sticky Rice is a simple yet famous Thai dessert made with sticky rice, coconut milk, ripe mangoes, and mung beans.

The Washington Post | Getty Images

Those looking to celebrate a trip to Bangkok in style can do so in the vibrant area my. The exquisite tasting menu highlights confit cod with shrimp mousseline and clams and Hokkaido scallop with apple and dill sorbet.

If there is still space, a last bite of Thai food can be taken Mae Varee, at the intersection of Sukhumvit Road and Sukhumvit 55. It is a fruit shop famous for serving the classic Thai dessert, Mango Sticky Rice. It is currently Ranked 10th out of 428 dessert places in Bangkok.

Shares of Rivian and different EV start-ups tank amid inventory sell-off

Rivian electric trucks are parked near the Nasdaq MarketSite building in Times Square on November 10, 2021 in New York City.

Michael M Santiago | Getty Images

shares of Rivian Automotive and other electric vehicle startups rebounded from steep intraday losses on Monday after hitting 52-week or record lows amid a broader market sell-off earlier in the day.

Rivian, Lordstown engines, Faraday future, NEVER, canoe, Nikola Corp. and Electrical solutions for the last mile all down 10% to 18% by 1pm before those losses were erased or narrowed in afternoon trade as broader markets rallied.

Shares in Nikola, Lordstown Motors, Canoo and ELMS all ended in the green, up between 1% and 5.5%. Shares in Rivian closed down about 1%, while shares in Chinese automaker Nio fell 9.1% and Faraday Future pared losses to close 4.7%.

Volatility among pre- and early-sales EV companies followed fluctuations in the broader market as investors decided to take advantage of prices after a sharp sell-off in morning trade.

The Nasdaq Composite Index turned positive after falling as much as 4.9% at the start of the session. The Dow Jones Industrial Average rose 100 points after falling more than 1,000 points in one fell swoop. The S&P 500 traded in the green after briefly falling into correction territory early in the session, more than 10% below its record close on Jan. 3.

Stocks of established automakers such as Tesla, General Motors and Ford engine also reduced losses to close less than 2%.

Shares in Rivian, one of the most-watched EV startups, fell below $60 a share on Monday for the first time since the company’s blockbuster IPO in November. The stock is down 38% since the company went public.

Here’s a look at several EV startups, as well as Tesla and legacy automakers GM and Ford, both of which have announced significant investments in electric vehicles.

— CNBC’s Hannah Miao and Yun Li contributed to this report.