Month: June 2022
GM and Lockheed are taking their lunar rover project to the commercial space market
MILFORD, Mich. — General Motors and Lockheed Martin said Thursday they plan to produce an array of moon-roving vehicles for commercial space missions and services powered by the automaker’s electric vehicle battery technology. The companies said they plan to test the batteries in space later this year, with the goal of having their first vehicle […]
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Stitch Fix shares sink another 12% as company announces layoffs, offers weak guidance
Stitch Fix said Thursday that it is laying off 15% of salaried positions within its workforce, mostly in corporate roles and styling leadership positions, in a bid to trim expenses amid red hot inflation and waning consumer demand for certain items. CNBC was first to report on the layoffs, which the company confirmed Thursday afternoon […]
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Travel industry calls on White House to end Covid-19 testing requirement for travelers from overseas
A man checks in at a Covid-19 testing site in the international arrivals area of Los Angeles International Airport in Los Angeles, California on December 22, 2021. Frederic J. Brown | AFP | Getty Images Travel and hospitality CEOs are stepping up pressure on the Biden administration to scrap a requirement that anyone flying into […]
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Stocks making the biggest moves midday: Tesla, Five Below, Novavax, Nio and more
A Tesla dealership is seen in West Drayton, just outside London, Britain, February 7, 2018. Hannah McKay | Reuters Check out the companies making headlines in midday trading. Tesla — Shares dipped 0.9%. The electric vehicle stock rose more than 2% earlier in the session after UBS upgraded the electric vehicle maker to buy from […]
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Annuity sales rise, buoyed by market fears and higher interest rates. What to know before you buy
Svetikd | E+ | Getty Images Annuities are on track for a banner year as consumers flee stock volatility and insurers offer more attractive rates. Limra, an insurance industry group, forecasts annuity sales of $267 billion to $288 billion in 2022, eclipsing the record ($265 billion) set in 2008. Consumers pumped $255 billion into annuities […]
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Southwest Airlines is closing reservations centers as customer service agents go fully remote
A traveler walks past a Southwest Airlines airplane as it taxies from a gate at Baltimore Washington International Thurgood Marshall Airport on October 11, 2021 in Baltimore, Maryland. Kevin Dietsch | Getty Images Southwest Airlines’ customer service agents will soon work ‘100%’ remotely as the carrier moves to close its reservations centers. “Southwest Airlines just […]
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Bringing inflation down is going to take time, patience — and pain
Products are seen in a supermarket, in Los Angeles, California, May 27, 2022. Lucy Nicholson | Reuters Tackling runaway inflation won’t be easy and it won’t be quick, and it may carry a steep price tag that is just beginning to be paid. To stop 40-year highs in price increases, the economy will have to […]
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Why saving in a 401(k) plan may be tough for frequent job switchers
Damircudic | E+ | Getty Images Saving in a 401(k) plan may be tough for workers who switch jobs frequently — a dynamic that’s come into greater focus amid the Great Resignation. In 2021, 14% of people saving in a 401(k) plan left their employer, according to a new report from Vanguard Group, which is […]
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Here’s how to fight a higher-than-expected property tax bill
Momo Productions | Digitalvision | Getty Images If the value of your home ballooned during the Covid pandemic, you may receive an inflated property tax assessment in the mail. There are ways, however, to combat a higher bill, experts say. Despite double-digit growth in single-family home prices, property taxes only increased by 1.8% in 2021, […]
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The more gasoline rises above $5, the greater risk there is of recession
Gasoline is nearing an average $5 per gallon across the U.S., but while consumers are feeling the pain, prices are not yet at a level that would tip the economy into a recession, economists said. Where that breaking point price lies is unclear. Some suggest it would probably not be just gasoline alone that would […]
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