As part of Tesla’s massive restructuring, the electric vehicle maker notified the California Employment Development Department this week that it’s cutting approximately 600 more employees at its manufacturing facilities and engineering offices between Fremont and Palo Alto. The latest layoffs eliminated roles across the board — from entry level positions to directors — and hit … Read more
Michael Intrator, CEO of CoreWeave, participates in a CNBC interview on May 9, 2024. CNBC Fresh off a $1.1 billion equity funding round, artificial intelligence infrastructure startup CoreWeave has raised $7.5 billion in debt so that it can more heavily invest in its cloud data centers. Blackstone’s funds led the lending round, with participation from … Read more
Xpeng’s “Land Aircraft Carrier” vehicle has a flying passenger drone hidden inside the truck. The drone can detach. XPENG AEROHT Xpeng AeroHT, an affilaite of Xpeng, aims to deliver its flying car to customers in 2026, the Chinese electric vehicle maker’s co-president told CNBC on Friday, Last year, Xpeng AeroHT introduced the Land Aircraft Carrier … Read more
Riska | E+ | Getty Images The first question someone should ask is how much cash do they still need and whether it makes sense to invest some of that money elsewhere, according to CFP Ashton Lawrence, director at Mariner Wealth Advisors in Greenville, South Carolina. Typically, financial experts recommend keeping an emergency fund of … Read more
Shoppers line up to enter a Cartier store, a unit of Cie. Financiere Richemont SA, on Canton Road in the Tsim Sha Tsui area of Hong Kong. Billy H.C. Kwok | Bloomberg | Getty Images Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after the company reported record full-year sales, even … Read more
CNBC’s Jim Cramer on Thursday picked two footwear stocks he thinks are headed for success: On Holding and Deckers Outdoor, which owns a number of footwear brands including Hoka, Uggs and Tevas. “Even when the footwear and athletic apparel space is a nightmare for most of the industry, you can still find great brands that … Read more
People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023. Niharika Kulkarni | Nurphoto | Getty Images This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big … Read more
Customers use automated teller machines (ATM) at an HSBC Holdings Plc bank branch at night in Hong Kong, China, on Saturday, Feb 16, 2019. Anthony Kwan | Bloomberg | Getty Images Shares of HSBC Holdings fell over 3% in Hong Kong on Friday after reports that its top shareholder Ping An Insurance might be looking … Read more
The European Central Bank exterior. Daniel Roland | AFP | Getty Images European Central Bank board member Isabel Schnabel warned against back-to-back rate cuts amid lingering inflation risks, Nikkei reported Friday, as the central bank gears for its June meeting amid expectations of a rate cut. While a rate cut in June could be warranted … Read more
Foreign trade containers are being stacked at the container yard of Qingdao Port in Qingdao, China, on May 14, 2024. Nurphoto | Nurphoto | Getty Images China remains a “critical supplier” to the world and efforts for a full decoupling remain “difficult, if not impossible,” a trade report by Allianz Trade said. Despite talk of … Read more
