VW said it would initially invest $1 billion into a joint venture to create what was described as a “next generation software-defined vehicle platform” that will be used in both firms’ electric cars. Rivian is slated to receive another $4 billion in total by 2026.
FedEx is delivering some big stock gains Wednesday. Shares in the delivery giant are up more than 13% in early trading after the company posted earnings that prove its cost cuts are paying off. The stock is at its highest price of the year so far. Read more...
General Motors has added two more members to the executive team overseeing self-driving startup Cruise’s comeback, including a new chief executive officer. Read more...
The Biden administration said on Wednesday that Medicare enrollees will pay less for 64 prescription drugs available through Medicare Part B. Read more...
Nvidia stock continued to rebound during Wednesday morning trading, after the company lost more than $500 billion in market value . Read more...
Morgan Stanley Wealth Management is looking to leverage generative artificial intelligence to help its financial advisors do away with busy work. Read more...
The economists cited a "one-time shift" in demand duringThe economists said they predict home prices will rise by about 4.5% in 2024 and 5% in 2025, then fall back to 0.5% in 2026 due to the fleeting pandemic-driven market boost. the pandemic for their less-than-ideal outlook
CDK Global said its dealership management systems won’t be back online before the end of June, as the company and the dealers it works with continue to struggle with the aftershocks of back-to-back cyberattacks. Read more...
Just a few months ago, the market was worried about Rivian . The company has disclosed it lost $33,000 on every electric truck it sold, laid off hundreds of workers , and said it expects to take a $2.7 billion hit this year. Read more...
Southwest Airlines dropped its expectations for the second quarter as it struggles to manage its revenues amid changing flyer preferences. Read more...
A federal judge on Tuesday rejected a $30 billion settlement reached between credit card giants Visa and Mastercard and U.S. merchants, as a nearly two-decade battle over so-called swipe fees continues. Read more...
Nine-to-five businesses aren’t ‘good enough,’ suggests a new study. Instead, Americans want businesses to operate 24/7.
A High Court judge said Mr Chappell tried to “plunder the BHS Group whenever possible".
Kevin Gordon, Senior Investment Strategist with Charles Schwab & Co., spoke with Quartz for the latest installment of our “Smart Investing” video series. Read more...
Chipotle Mexican Grill’s stock was up 2.8% to $3,283 at market close Tuesday on the eve of the company’s historic stock split. The burrito chain’s 50-for-1 stock split is considered to be one of the biggest splits in the history of the New York Stock Exchange. Read more...
An economic impact report reveals the planned resort could create 20,000 jobs during construction.
Port Talbot could lose more than £200m in wages because of Tata Steel job cuts, analysis shows.
Shares in the US-based electric truck and SUV maker jumped by almost 50% after the announcement.
"We believe that a second Trump term would have a negative impact on the US's economic standing in the world, and a destabilizing effect on the US's domestic economy," the economists wrote in a letter.
An indefinite work-to-rule is under way by Aer Lingus pilots with an eight-hour strike on Saturday.
Rivian Automotive and Volkswagen Group are joining forces as they look to develop software technology that will help drive their production of electric vehicles. Read more...
He needs the approval of shareholders of three quarters of the business.
Guests staying at a Disney Resort hotel will have the option of booking the three experiences and times a week in advance.
Delta Air Lines just unveiled a sweet perk for its fanciest flyers. Read more...
Dozens of delivery bikes parked outside The Roosevelt Hotel have been cleared away by NYPD as part a stepped-up crackdown on unregistered and illegal mopeds and e-bikes.
Less than a week into summer, the Food and Drug Administration has announced a national recall of certain ice cream products. Read more...
A lot of people want to take cruises these days. Read more...
