Shoppers wait for a GameStop store to open on at the Tysons Corner Center, in Tysons, Virginia, November 27, 2020. Hannah McKay | Reuters Check out the companies making headlines in midday trading. Ga...
Tag: business news
Chipotle’s $50 million search for the future of fast food
Chipotle is testing out an autonomous kitchen assistant, Chippy, which offers a robotic solution for making chips in restaurants. Courtesy: Chipotle The lengthy lunchtime lines at Chipotle Mexican Gri...
Volkswagen CEO says EV outlook is very good
An ID. Buzz photographed at a plant in Hanover, Germany, on June 16, 2022. Supply chain constraints — including those related to semiconductors — have been a major challenge for automakers in recent t...
States spend billions on EVs to replace automotive capital Michigan
For as long as there has been an auto industry, Michigan has been its epicenter. But now, the industry is making clear that it is not bound by tradition. The move to electric vehicles — rapidly accele...
Casino industry urges federal prosecutors to crack down on illegal operators
American casinos, gaming companies and lawmakers are calling on federal prosecutors to crack down on illegal offshore gambling sites that they say are evading consumer protection regulations. The pus...
Gasoline futures are dropping, which could mean more relief at the pump
Brie Olootu pumps gas at an Exxon Mobil gas station on June 09, 2022 in Houston, Texas. Gas prices are breaching record highs as demand increases and supply fails to keep up. Brandon Bell | Getty Imag...
GameStop, Seagen, Virgin Galactic and more
Check out the companies making headlines before the bell: GameStop (GME) – GameStop rallied 7.8% in the premarket after the videogame retailer declared a 4-for-1 stock split. Trading on a split-adjust...
Shell to build ‘Europe’s largest renewable hydrogen plant’
On Wednesday, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. Shell is one of several big firms looking...
Beijing city to require Covid vaccinations for some public venues
Chinese cities like Beijing, pictured here on July 6, 2022, require negative virus tests from within the last 72 hours in order to enter most public spaces. Kevin Frayer | Getty Images News | Getty Im...
rising costs are squeezing retailers’ margins
Retail businesses in Singapore are grappling with higher costs as rents rise and energy prices soar, the Singapore Retailers Association said. Cost pressure is a big concern for many Singapore retail...
American Airlines pilots get triple pay for trips dropped in scheduling glitch
An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images American Airlines pilots and ...
There’s more pain coming for investors who own buy now, pay later plays, Jim Cramer says
CNBC’s Jim Cramer on Wednesday warned investors that if they own any buy now, pay later stocks, they should brace themselves for more damage to their portfolios. “These stocks never should...
I like Toll Brothers over Skyline Champion
Boeing Co: “I’m not going to recommend stocks that lose money with really bad balance sheets. And that’s what they do.” United States Steel Corp: “There is too much negat...
Charts suggest the market could bottom after more weakness
CNBC’s Jim Cramer on Wednesday said that the market could find a bottom later this year now that stocks have come down and Wall Street’s optimism has waned. “The charts, as interpre...
Clashing market forces could lead to a stagnant economy, Cramer says
CNBC’s Jim Cramer on Wednesday said that the clashing forces roiling the market could lead to stagnation, which could then turn into an economic reacceleration that causes stocks to go higher. &...
Here’s how much cash you need for a recession, according to advisors
designer491 | iStock | Getty Images With the threat of a recession looming, more financial experts are sharing how to prepare — including how much cash it may be smart to set aside. The end of June ...
Biden taps Denver airport chief Phil Washington to head the FAA
An American Airlines plane lands at Ronald Reagan Washington National Airport November 23, 2021 in Arlington, Virginia. Drew Angerer | Getty Images President Joe Biden on Wednesday nominated Phil Wash...
Virgin Galactic contracts Boeing subsidiary for aircraft ‘motherships’
A conceptual rendering of the company’s carrier aircraft, also known as a “mothership.” Virgin Galactic Space tourism company Virgin Galactic on Wednesday announced a deal with Boein...
Rivian says it’s still on track to build 25,000 EVs in 2022
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric-vehicle startup Rivian Automotive said it produced more t...
Peloton sweetens employee pay incentives as it fights to boost morale
In this photo illustration the Peloton Interactive logo seen displayed on a smartphone screen. Rafael Henrique | LightRocket | Getty Images Peloton sweetened incentives for its workers with one-time c...
Toyota joins Tesla and GM in phaseout of federal electric vehicle tax credits
A Toyota bZ4X on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC Toyota Motor said it sold its 200,000th plug-in electric vehicle during the second quarter, triggering a phaseout ...
Netflix announces ‘Stranger Things’ spinoff, Duffer Brothers form Upside Down Pictures
(L-R) Matt Duffer and Ross Duffer attend Netflix’s Stranger Things ATAS Official Screening at Raleigh Studios Hollywood on May 27, 2022 in Los Angeles, California. Emma Mcintyre | Getty Images E...
GM reports worst sales in China since onset of Covid-19 lockdowns
WUHAN, CHINA – 2022/05/18: Employees wearing masks work on a car assembly line at the SAIC General Motors Co. The SAIC General Motors Wuhan Branch has resumed production following epidemic preve...
Hulu faces existential crisis as Disney decides how to move forward
Signage is seen at the 2019 Deadline Contenders Hulu Reception at Paramount Theater on the Paramount Studios lot on April 07, 2019 in Hollywood, California. Rachel Murray | Getty Images Disney has a H...
Stock futures are little changed following third straight day of gains for S&P 500
Traders on the floor of the NYSE, June 16, 2022. Source: NYSE U.S. stock futures were little changed on Wednesday night as investors digested the most recent meeting minutes from the Federal Reserve. ...
Mortgage demand sinks even as rates drop
People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Mortgage rates dropped for the second week in a row, but that didn’t ...
GameStop jumps in extended trading after announcing 4-for-1 stock split
A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022. Brendan McDermid | Reuters Shares of GameStop jumped more than 8% in ...
VW and Goldman-backed Northvolt gets $1.1 billion funding
Northvolt’s most recent funding announcement comes at a time when major economies are laying out plans to move away from vehicles that use diesel and gasoline. Mikael Sjoberg | Bloomberg | Getty...
Hot job market and Great Resignation persist despite recession threat
Mixetto | E+ | Getty Images Workers are still reaping the benefits of a hot labor market characterized by few layoffs, ample job openings and a high level of voluntary departures, according to U.S. De...
Uber, DoorDash, Coinbase and more
Uber Eats delivery Jonathan Raa | NurPhoto via Getty Images Check out the companies making headlines in midday trading. Uber, DoorDash – Shares of Uber slumped 4.3% and DoorDash fell 7.4% on news that...
‘More restrictive’ policy likely if inflation fails to come down
Federal Reserve officials in June emphasized the need to fight inflation even if it meant slowing an economy that already appears on the brink of a recession, according to meeting minutes released Wed...
Uber, DoorDash, Spirit, Altria and more
Check out the companies making headlines before the bell: Uber (UBER), DoorDash (DASH) – Uber fell 3.1% in the premarket while DoorDash tumbled 7.5%, following the news that Amazon (AMZN) struck a dea...