Month: May 2025
Hertz shares plummet after company’s disappointing first-quarter results, $250 million stock offering
DETROIT — Shares of Hertz Global plummeted Tuesday morning after the embattled rental car company reported disappointing first-quarter earnings and a $250 million stock offering. Hertz shares were off more than 20% during early morning trading before leveling to be off about 15% to 18% toward the end of the company’s Tuesday morning quarterly earnings […]
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Elon Musk says Starlink was approved in Saudi Arabia
Tesla CEO Elon Musk speaks, as he sits with Saudi Minister of Communications and Information Technology Abdullah Alswaha, at the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025. Hamad I Mohammed | Reuters Elon Musk said Saudi Arabia has approved Starlink for aviation and maritime use in the region speaking at an event […]
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ESPN’s new all-access streaming app will cost $29.99 per month
ESPN’s new streaming application, featuring everything the sports media arm of Disney has to offer, will cost $29.99 per month. The service, which will take the ESPN name, as CNBC reported last week, will be heavily discounted when bundled with Disney’s other streaming services, Disney+ and Hulu. The three services, with ads, will cost $35.99 […]
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Trump administration cuts an additional $450 million in grants to Harvard
Harvard sweatshirts are displayed for sale in a school store window on the Harvard University campus in Cambridge, Massachussetts, on April 15, 2025. Joseph Prezioso | Afp | Getty Images The Trump administration announced Tuesday that it is cutting an additional $450 million in grants to Harvard University through eight federal agencies, on top of […]
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Here’s the inflation breakdown for April 2025 — in one chart
Key Points The consumer price index declined to 2.3% in April from 12 months earlier, the lowest reading since February 2021. However, tariffs levied by President Donald Trump are expected to re-ignite inflation as soon as next month, according to economists. Prices declined for categories like gasoline, groceries, apparel, used cars and airline fares during […]
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Microsoft is cutting 3% of all workers
Microsoft CEO Satya Nadella leaves after attending a meeting with Indonesian President Joko Widodo at the Presidential Palace in Jakarta, Indonesia, on April 30, 2024. Willy Kurniawan | Reuters Microsoft on Tuesday said that it’s laying off 3% of employees across all levels, teams and geographies. “We continue to implement organizational changes necessary to best […]
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U.S.-China trade war pushed global supply chain near breaking point, new data shows
A general view shows container terminal in Hong Kong, China, April 23, 2025. Tyrone Siu | Reuters The trade truce reached between the U.S. and China arrived just as President Donald Trump’s tariffs took a big bite out of North American & Asian manufacturing, with a steep retreat in April purchasing activity after the rush […]
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GM unveils new ‘groundbreaking’ EV battery tech, aims to be first to market
General Motors battery technician Steven Petty Jr. focuses on aligning electrodes on an anode sample for a prototype LMR battery cell in the making. Photo by Steve Fecht for General Motors WARREN, Mich. — General Motors expects to pioneer a new “groundbreaking” EV battery technology that the automaker says will reduce costs and boost profitability […]
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Watch live: Trump to speak at U.S.-Saudi investment forum
[The stream is slated to start at 9:45 a.m. ET. Please refresh the page if you do not see a player above at that time.] President Donald Trump on Tuesday is set to deliver remarks at a U.S.-Saudi investment conference in Riyadh. Trump’s participation in the event at the King Abdul Aziz International Conference Center […]
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Annual inflation rate hit 2.3% in April, less than expected and lowest since 2021
Inflation was slightly lower than expected in April as President Donald Trump’s tariffs just began hitting the slowing U.S. economy, according to a Labor Department report Tuesday. The consumer price index, which measures the costs for a broad range of goods and services, rose a seasonally adjusted 0.2% for the month, putting the 12-month inflation […]
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