For the first time a luxury brand is an Olympic sponsor. And it’s not just one brand, it’s the empire of LVMH. “We tried to find a way with the Olympic Committee – to be able to show maybe something that has never been done before with the Olympics,” LVMH Chairman and CEO Bernard Arnault … Read more
LONDON — European markets opened mixed on Friday, as a global stock selloff eases and investors await a U.S. inflation print. The pan-European Stoxx 600 opened slightly above the flatline, with sectors and major bourses spread between losses and gains. Autos led loses, down 1.2%, as Germany’s Mercedes Benz dipped 2% after narrowing its annual … Read more
Ford Mustang Mach E electric vehicles are offered for sale at a dealership on June 05, 2024 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Car buyers who were among the first to make the EV switch are far from wholly converted. Nearly 30% of electric vehicle owners globally are likely … Read more
Republican presidential nominee and former U.S. President Donald Trump speaks as he campaigns in Charlotte, North Carolina, U.S. July 24, 2024. Marco Bello | Reuters Donald Trump on Thursday said Elon Musk “never told me” he would pledge $45 million a month to support Trump’s presidential bid, days after the Tesla and SpaceX CEO denied … Read more
A Ford Bronco on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT – Ford Motor is leading a decline in major U.S. automotive stocks this week amid disappointing results and investor skepticism around future performance. Shares of Ford were off by more than 17% in early … Read more
Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Josh Edelson | AFP | Getty Images Meta CEO Mark Zuckerberg has been assembling a large stockpile of Nvidia chips, spending billions of dollars so his company can develop and train advanced … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) on July 24, 2024 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
The Unilever headquarter building seen by the Nieuwe Maas river in Rotterdam. Sopa Images | Lightrocket | Getty Images LONDON — European markets are heading for a lower open Thursday, with a flurry of corporate earnings and a selloff on Wall Street in focus. The U.K.’s FTSE 100 was last seen opening 19 points lower … Read more
Nio’s second factory in the city of Hefei has around 2,000 human workers and 756 robots. CNBC | Evelyn Cheng BEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla, according to CNBC analysis of the four automakers’ first-quarter earnings. It’s a strategy for survival in … Read more
CNBC’s Jim Cramer looked at what might have spurred Wednesday’s Big Tech sell-offs, reviewing why investors may have been disappointed with earnings from Alphabet and Tesla. “Wall Street, it looks like it’s had it with the mega caps, doesn’t it? We don’t want to hear about the ‘Magnificent Seven’ anymore,” he said. “Everyone thinks these … Read more
