Month: August 2024
GM reveals GMC Yukon ‘AT4 Ultimate’ to expand reach, profits of high-end SUVs
2025 GMC Yukon AT4 Ultimate GMC DETROIT — General Motors is expanding its high-end GMC Yukon lineup to include a new “AT4 Ultimate” model as part of updates to the large SUV for the 2025 model year. The new model will slate in between the luxury “Denali” and “Denali Ultimate” models. The automaker declined to […]
Read More
Waymo is developing a roomier robotaxi with less-expensive tech
Waymo announced their sixth generation self-driving car. Alphabet-owned Waymo revealed details about its newest “generation 6” self-driving technology on Monday. Its new driverless tech, integrated into Geely Zeekr electric vehicles, should be able to handle a wider array of weather conditions without requiring as many costly cameras and sensors on board. The company invited CNBC […]
Read More
SEC charges Carl Icahn with hiding billions in loans backed by IEP stock
Carl Icahn, billionaire activist investor, waits for Donald Trump, president and chief executive of Trump Organization Inc. and 2016 Republican presidential candidate, not pictured, to speak at an election night event in New York, U.S., on Tuesday, April 19, 2016. Victor J. Blue | Bloomberg | Getty Images The Securities and Exchange Commission on Monday […]
Read More
British tech entrepreneur Mike Lynch reported missing after superyacht sinks off Sicily
Mike Lynch, former chief executive officer at Hewlett-Packard Co.’s Autonomy unit, speaking at a conference on Thursday, April 25, 2013. Bloomberg | Bloomberg | Getty Images LONDON — British tech entrepreneur Mike Lynch is missing after the sinking of a superyacht off the coast of Sicily, sources familiar with the matter told CNBC. The sources, […]
Read More
GM lays off more than 1,000 salaried software and services employees
A General Motors sign is seen during an event on January 25, 2022 in Lansing, Michigan. – General Motors will create 4,000 new jobs and retaining 1,000, and significantly increasing battery cell and electric truck manufacturing capacity. Jeff Kowalsky | AFP | Getty Images DETROIT – General Motors is laying off more than 1,000 salaried […]
Read More
LVMH CEO Bernard Arnault’s family office goes shopping for AI startups
World’s top luxury group LVMH head Bernard Arnault presents the group’s annual results 2022 in Paris on January 26, 2023. Stefano Rellandini | AFP | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, […]
Read More
Stocks making the biggest moves premarket: AMD, Estée Lauder, Dutch Bros., HP and more
Check out the companies making headlines in premarket trading. AMD — Shares added nearly 3% before the opening bell following news that the semiconductor company would acquire ZT Systems in a $4.9 billion deal. Estée Lauder — The cosmetics stock pulled back 4% after the the company issued a disappointing first-quarter earnings and full-year outlook, […]
Read More
Estee Lauder’s long-time CEO Fabrizio Freda to retire
Fabrizio Freda, President and CEO of Estee Lauder. Getty Images Estee Lauder said on Monday its long-time CEO Fabrizio Freda had decided to retire from the company at the end of fiscal 2025. Freda joined Estee in 2008 as president and chief operating officer and was later named the MAC lipstick maker’s CEO. Estee said […]
Read More
AMD to acquire server builder ZT Systems for $4.9 billion in cash and stock
Lisa Su, president and CEO of AMD, talks about the AMD EPYC processor during a keynote address at the 2019 CES in Las Vegas, Nevada, U.S., January 9, 2019. Steve Marcus | Reuters Advanced Micro Devices on Monday said it plans to acquire server maker ZT Systems for $4.9 billion as the company seeks to […]
Read More
Russia struggles to respond to Ukraine’s incursion as advancing forces destroy key bridges and war potential
A soldier fixes a drone underground in a Ukrainian military position, and former Russian military position, in Ukrainian-controlled territory on August 18th 2024, in Kursk, Russia. Ukrainian forces operating in Russia’s Kursk Region have destroyed a second key bridge, the commander of the Ukrainian Air Force said, as they attempt to push further into Russia. […]
Read More