Ford Motors recently announced a major shift in its electric vehicle strategy, opting to delay production of a next-generation all-electric pickup truck in Tennessee and cancel plans for a three-row electric SUV. Instead, the company will prioritize the development of hybrid models and electric commercial vehicles, such as a new electric commercial van in 2026,
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Activist investing has been gaining significant attention in the financial world, with firms like Elliott Management making bold moves to influence the trajectory of various companies. CNBC’s Leslie Picker has been closely following Elliott Management’s recent activist campaigns, shedding light on the impact they have had on the stock market. Elliott Management has emerged as
Bank of America’s stock took a hit, falling 2% after Warren Buffett’s Berkshire Hathaway revealed it was further reducing its stake in the bank. This news comes after a 12-day selling streak that started in mid-July, with the conglomerate selling 13.9 million more shares for $550.7 million over the past three trading days. Berkshire’s stake
Recently, California Governor Gavin Newsom signed a series of laws aimed at addressing the escalating issue of retail crime in the state. These laws target various aspects of retail theft, including shoplifting, theft from vehicles, organized theft, and the resale of stolen goods online. The new legislative package comes as a response to mounting pressure
The stock market experienced a day of mixed gains and losses as investors analyzed the latest Consumer Price Index (CPI) data. While the S&P 500 managed to edge higher, closing with a modest gain of 0.38%, the day started with optimism due to the headline July CPI figure coming in slightly below expectations. This marked
The ongoing feud between United Auto Workers President Shawn Fain and Stellantis CEO Carlos Tavares has escalated, with Fain accusing Tavares of engaging in price gouging practices and failing to uphold parts of the union’s labor contract with the automaker. Fain’s criticisms, detailed in a video posted on Friday, paint a grim picture of the
The recent fluctuations in U.S. Treasury yields have been driven by a series of economic data releases, leading investors to reassess the likelihood of a rate cut by the Federal Reserve. After a period of heightened uncertainty sparked by concerns of an impending recession, positive indicators such as healthy retail sales data and lower inflation
UBS CEO Sergio Ermotti recently addressed the issue of market volatility, predicting that it could potentially intensify in the second half of the year. While some investors have expressed concerns about a possible recession in the United States, Ermotti remains optimistic, stating that a slowdown is more likely than a full-blown recession. The recent sell-offs
The recent data showing a slowdown in U.S. inflation has left the dollar weakened, with the euro reaching an eight-month high. This has led to speculations that the Federal Reserve might consider lowering borrowing costs next month. The potential rate cuts have left traders anticipating the Fed’s next move, with expectations of a 25 basis
The volatile nature of the stock market is evident in the premarket trading activities of various companies. Kellanova’s shares rose significantly after agreeing to be acquired by Mars, while Alphabet experienced a drop in share prices due to reports of potential regulatory actions. This highlights the influence of external factors on company performance and investor
General Motors recently unveiled the redesigned versions of its entry-level GMC Terrain crossover, showcasing a more rugged exterior design. This new look is sure to turn heads on the road, providing a fresh and modern aesthetic for consumers who are in the market for a compact crossover. One of the most notable updates to the
JetBlue experienced a significant 13% drop in shares midday after announcing plans to sell $400 million of five-year convertible senior notes. This decision raised concerns among investors about the company’s financial stability and future growth prospects. It remains to be seen how JetBlue will navigate this challenging situation and regain investor confidence in the coming
In recent news, Blink Fitness, a budget-friendly gym chain owned by luxury fitness company Equinox Group, has filed for Chapter 11 bankruptcy protection. This move comes amidst a wave of fitness chains seeking bankruptcy post-pandemic, including well-known companies like New York Sports Club, 24 Hour Fitness, and Gold’s Gym. With over 100 centers spread across
India’s markets regulator issued a statement urging investors to stay calm and exercise caution in response to reports from US-based shortseller Hindenburg Research. The report in question alleged that the head of Securities and Exchange Board of India (SEBI), Madhabi Puri Buch, had previous investments in offshore funds also utilized by the Adani Group. Despite