United States
Amazon records $3.9 billion loss on Rivian investment, bringing markdown for the year to $11.5 billion
Rivian CEO RJ Scaringe and Amazon CEO Andy Jassy tour one of the company’s electric delivery vans. Amazon Amazon’s stake in electric vehicle maker Rivian Automotive was once worth $27 billion. That was in November, shortly after Rivian’s IPO, which took place just before the Nasdaq peaked. But with investors rotating out of risk in […]
Read More
House passes bill to boost U.S. chip production and China competition, sending it to Biden
US President Joe Biden reacts to a note given to him saying that the CHIPS-plus bill has passed the House during a meeting with CEOs about the economy in the South Court Auditorium of the Eisenhower Executive Office Building, next to the White House, in Washington, DC on July 28, 2022. Mandel Ngan | AFP […]
Read More
Deutsche Bank isn’t convinced a ‘slam dunk’ recession is underway just yet. Wants more evidence after latest GDP print
Deutsche Bank joined the growing chorus of voices that’s not convinced we’re in a recession yet — although the firm continues to believe we’ll likely land in one within the next year. “We still think a recession is almost a slam dunk over the next 12 months but want to see more evidence of employment […]
Read More
Beyond Meat stock falls after conclusion of McDonald’s McPlant test
Advertising for the McPlant burger, a plant based vegetarian alternative to more traditional meat burgers by fast food giant McDonalds on 11th July 2022 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images Shares of Beyond Meat fell 6% in morning trading after J.P. Morgan said McDonald’s ended its U.S. test of […]
Read More
Having a woman in the boardroom or C-suite drives even wider diversity, study finds
shironosov | Getty Images If you want to take a good guess at a company’s gender diversity record, you might want to first look at who its CEO or board chair is, according to the findings of a new study. Having a female CEO at the helm of a company or chairing its board tends […]
Read More
Mark Zuckerberg says economic downturn is here, so Meta must do more with less
Meta Platforms CEO Mark Zuckerberg speaks at Georgetown University in Washington on Oct. 17, 2019. Andrew Caballero-Reynolds | AFP | Getty Images Meta Platforms CEO Mark Zuckerberg said on the company’s second-quarter earnings call Wednesday that the economy seems to be in a downturn that will hurt digital advertising, so the Facebook parent company must […]
Read More
Biden’s call with Xi Jinping will focus on areas of U.S.-China cooperation, not just tension
A screen shows Chinese President Xi Jinping attending a virtual meeting with U.S. President Joe Biden via video link, at a restaurant in Beijing, China November 16, 2021. Tingshu Wang | Reuters WASHINGTON — President Joe Biden’s upcoming call with Chinese leader Xi Jinping will focus on areas of potential cooperation between the U.S. and […]
Read More
Fed Chair Jerome Powell said he does not think the U.S. is currently in a recession
This is a developing story. Check back for updates. Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, July 27, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell said on Wednesday he does […]
Read More
Senate passes bill to boost U.S. chip production and China competition, sending to House
President Joe Biden listens as Communications Workers of America President Christopher Shelton speaks during a virtual meeting on the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, in the South Court Auditorium at the White House on July 25, 2022 in Washington, DC. Anna Moneymaker | Getty Images The Senate on Wednesday passed […]
Read More
Justice Department investigating Trump’s actions as part of Jan. 6 probe
Former U.S. President Donald Trump delivers remarks at the America First Policy Institute America First Agenda Summit in Washington, July 26, 2022. Sarah Silbiger | Reuters The Department of Justice is investigating former President Donald Trump’s actions leading up to the Jan. 6 riot at the U.S. Capitol as part of its criminal probe of […]
Read More