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Small Business Growth

Shares in Stellantis, Aston Martin skid on profit warnings [Video]

Shares in Jeep-maker Stellantis and Britain’s Aston Martin tumbled on Monday after both companies joined European rivals in cutting their profit forecasts.

European auto giant Stellantis, whose other top brands include Peugeot, Ram and Fiat, cited efforts to improve its US business as well as competition from Chinese automakers.

The company, which also makes Maserati, Dodge and Chrysler cars, said it now expected an adjusted operating income margin of 5.5 to 7.0 percent.

It had previously expected double-digit growth.

Stellantis shares sank by almost 14.7 percent to close at 12.40 euros ($13.82) on the Paris stock exchange.

“While this is a highly anticipated profit warning … the magnitude surprises,” UBS bank analysts said in a note.

For analysts at French brokerage Oddo BHF, the alert “raises major questions about the vision and direction for the company… and its credibility among investors”.

In a statement, the company said efforts to improve its business in North America accounted …

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Logging proposed to curb wildfires in the US Pacific Northwest [Video]

U.S. officials would allow increased logging on federal lands across the Pacific Northwest in the name of fighting wildfires and boosting rural economies under proposed changes to a sweeping forest management plan that's been in place for three decades.The U.S. Forest Service proposal, released Friday, would overhaul the Northwest Forest Plan that governs about 38,000 square miles (99,000 square kilometers) in Oregon, Washington and California.Video above: Rivers running low, park rangers worried about trees amid droughtThe plan was adopted in 1994 under President Bill Clinton amid pressure to curb destructive logging practices that resulted in widespread clearcuts and destroyed habitat used by spotted owls. Timber harvests dropped dramatically in subsequent years, spurring political backlash.But federal officials now say worsening wildfires due to climate change mean forests must be more actively managed to increase their resiliency. Increased logging also would provide a more predictable supply of trees for timber companies, officials said, helping rural economies that have suffered after lumber mills shut down and forestry jobs disappeared.The proposal could increase annual timber harvests by at least 33% and potentially more than 200%, according to a draft environmental study. The number of timber-related jobs would increase accordingly.Harvest volumes from the 17 national forests covered by the Northwest Forest Plan averaged about 445 million board feet annually over the past decade, according to government figures. Cutting more trees would help reduce wildfire risk and make communities safer, the study concluded.That would be accomplished in part by allowing cuts in some areas with stands of trees up to 120 years old up from the current age threshold of 80 years.The change could help foster conditions conducive to growing larger, old growth trees that are more resistant to fire, by removing younger trees, officials said.A separate pending proposal from President Joe Biden's administration aims to increase protections nationwide for old growth trees, which play a significant role in storing climate change-inducing carbon dioxide."Much has changed in society and science since the Northwest Forest Plan was created," Jacque Buchanan, regional forester for the Forest Service's Pacific Northwest Region, said in a statement.He said the proposal would help the agency adapt to shifting conditions, as global warming increases the frequency of droughts and other extreme weather events.The proposed plan also calls for closer cooperation between the Forest Service and Native American tribes to tap into tribal knowledge about forest management. Tribes were excluded when the 1994 plan was crafted.Environmentalists greeted the proposal with skepticism. The group Oregon Wild said it was "deeply troubling" that the Forest Service would release the proposal just ahead of a change in presidential administrations."It appears that the Forest Service wants to abandon the fundamental purpose of the Northwest Forest Planprotecting fish and wildlife and the mature and old-growth forests they need to survive," John Persell, an attorney for the group, said in a statement.During former President Donald Trump's first term, administration officials sought to open millions of acres of West Coast forest to new logging by stripping habitat protections for the imperiled spotted owl.The move was opposed by government biologists and reversed under Biden.A draft environmental study examined several potential alternatives, including leaving the existing plan's components in place or changing them to either reduce or increase logging. A timber industry representative who co-chaired an advisory committee on the Northwest Forest Plan said the proposed plan resulted from discussions involving committee members, the Forest Service and others."We want to see a modern approach to federal forest stewardship that protects us from catastrophic wildfires, reduces toxic smoke, meaningfully engages tribes, and delivers for our rural communities and workers," said Travis Joseph, president of the American Forest Resource Council.The publishing of the proposal begins a 120-day public comment period.The Forest Service's environmental review is expected to be completed by next fall and a final decision is due in early 2026.