Transportation
As Trump eyes more tariffs, South Korea remains safe haven for GM and Hyundai
President Donald Trump welcomes South Korea’s President Moon Jae-In at the White House in Washington, U.S., May 22, 2018. Carlos Barria | Reuters DETROIT — As President Donald Trump threatens to further increase tariffs on U.S. trading partners, the greatest impact for the auto industry outside of North America would be additional levies on South […]
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Foxconn says it is open to buying a stake in Nissan
Foxconn Chairman Young Liu delivers a speech during the Hon Hai Tech Day in Taipei on Oct. 18, 2023. I-hwa Cheng | AFP | Getty Images Taiwan’s Foxconn would consider taking a stake in Nissan for cooperation, its chairman said, as the Japanese automaker’s future hangs in the balance after stepping back from merger talks with Honda. “If cooperation requires it (purchasing Nissan shares), we […]
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Lyft shares sink 9% on underwhelming fourth-quarter results
Lyft shares shed more than 9% after the ride-sharing app reported lackluster fourth-quarter results and offered weak bookings guidance as it lowers prices to keep up with competition. The company reported revenues of $1.55 billion, versus the $1.56 billion expected by analysts polled by LSEG. Bookings, which measures the charges posed to customers for rides […]
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Globalstar CEO Paul Jacobs explains why satellite company moved from NYSE to Nasdaq
Satellite communications company Globalstar listed on the Nasdaq Tuesday after delisting from the New York Stock Exchange. “We did a reverse split — we’re a multibillion dollar company, but our stock price was down in the dollar-ish range,” CEO Paul Jacobs told CNBC’s Becky Quick on “Squawk Box.” “And people thought of us as a […]
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Ford CEO says Trump’s tariffs are causing ‘chaos’ in auto industry
Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland DETROIT — President Donald Trump’s tariffs, both implemented and just threatened, are causing “chaos” for the U.S. automotive industry, according to Ford Motor CEO Jim Farley. The chief executive of […]
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A $4 million Bugatti and Michael Jordan’s BMW brought car auction company a record year
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, straight to your inbox. Bring a Trailer, the online classic car marketplace, sold a record $1.5 billion worth of cars last year despite […]
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How a CEO’s exit and a Jeep ‘comeback’ led to Stellantis being the only automaker to advertise during Super Bowl 59
Actor Harrison Ford touts Jeep and Americana while taking a dig at another Detroit automaker during Stellantis Stellantis DETROIT — A CEO’s exit, electric vehicles making the industry run around like “headless chickens” and a company’s U.S. revival all came together to make Ram and Jeep parent Stellantis the only automaker with a Super Bowl […]
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Shipping giant Maersk’s shares jump 10% on profit beat despite trade uncertainty
Maersk shares jumped more than 10% after the shipping giant posted better-than-expected fourth-quarter results on Thursday, putting shares on course for their best daily performance since 2016. Earnings before interest, depreciation, taxes and amortization (EBITDA) rose 26% to $12.13 billion in the full-year stretch and came in at $3.6 billion in the fourth quarter, exceeding […]
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Volvo Cars weighs tariffs-led production move, warns of ‘hyper-competitiveness’ in China
Sweden’s Volvo Cars on Thursday reported a 12% rise in full-year operating income and record revenue, but warned of severe market challenges ahead from intensifying electric vehicle competition and global tariffs. The automaker, which is majority-owned by China’s Geely Holding, said operating income came in at 22.3 billion Swedish kronor ($2.04 billion) in 2024 amid an […]
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Ford CEO calls for ‘comprehensive’ tariff analysis for all countries
Ford Motor Co., CEO Jim Farley gives the thumbs up sign before announcing Ford Motor will partner with Chinese-based, Amperex Technology, to build an all-electric vehicle battery plant in Marshall, Michigan, during a press conference in Romulus, Michigan February 13, 2023. Rebecca Cook | Reuters DETROIT — Ford Motor CEO Jim Farley on Wednesday said […]
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