Today: September 15, 2024
Today: September 15, 2024

Business News

Business|Europe|Technology

Ferrari extends cryptocurrency payment system to Europe after US launch

Ferrari said on Wednesday it would extend its scheme to accept payments in cryptocurrency for its luxury sports cars to its European dealers network from the end of this month, after

Ferrari extends cryptocurrency payment system to Europe after US launch
Asia|Business|Economy

Nissan profit wiped out by US discounts; shares hammered

Japan's Nissan Motor slashed its annual outlook on Thursday after deep discounting in the United States almost completely wiped out the automaker's first-quarter

Nissan profit wiped out by US discounts; shares hammered
Asia|Business|Economy

Hyundai Motor posts record Q2 profit on strong US sales, to boost hybrid lineups

Hyundai Motor reported record quarterly profit and revenue on Thursday on strong sales of high-margin cars and said it would expand hybrid lineups to

Hyundai Motor posts record Q2 profit on strong US sales, to boost hybrid lineups
Business|Economy

Valero plans to run refineries at 92% of combined capacity in Q3 2024

U.S. refiner Valero Energy Corp plans to operate its 14 refineries up to 92% of their combined 3.2 million barrel-per-day (bpd) total throughput capacity in the third

Valero plans to run refineries at 92% of combined capacity in Q3 2024
Business|Economy|Finance|Stock Markets

Norfolk Southern beats second-quarter profit estimates on higher pricing

U.S. railroad operator Norfolk Southern reported second-quarter profit above Wall Street estimates thanks to robust pricing, sending its shares up nearly 7% on Thursday.

Norfolk Southern beats second-quarter profit estimates on higher pricing
Asia|Business

Nissan cuts output at top Japanese plant, sources say

Nissan cut planned production by a third at its top Japanese plant this month, a move that will also see it slash output of a flagship crossover model

Nissan cuts output at top Japanese plant, sources say
Business

Tesla's deliveries expected to fall on plant shutdowns, soft demand

Tesla may miss estimates for third-quarter deliveries due to planned factory shutdowns and soft demand that led the automaker to boost discounts, several Wall Street

Tesla's deliveries expected to fall on plant shutdowns, soft demand
Business

Delta says some overhauled engines contain parts with improper documentation

Delta Air Lines on Monday said it had been informed by one of its service providers that a "small number" of overhauled engines contain parts that do not meet documentation requirements.

Delta says some overhauled engines contain parts with improper documentation
Business

EV maker Rivian sees higher quarterly revenue

Electric-vehicle maker Rivian Automotive on Wednesday forecast quarterly revenues to rise due to an increase in deliveries of its pickup trucks and sports utility vehicles.

EV maker Rivian sees higher quarterly revenue
Business

Tesla slashes prices of Model 3, Models Y vehicles in US

Elon Musk-led Tesla on Thursday cut prices of its Model 3 and Model Y vehicles in the U.S., according to the electric vehicle maker's website.

Tesla slashes prices of Model 3, Models Y vehicles in US
Business

Disney in talks with Adani, Sun TV to sell India assets -Bloomberg News

Walt Disney is in preliminary talks with potential buyers, including Indian billionaires Gautam Adani and Sun TV Network owner Kalanithi Maran, to sell its streaming and

Disney in talks with Adani, Sun TV to sell India assets -Bloomberg News
Business

Pioneer's mega-sale to Exxon will trigger $71 million in exec windfalls

Senior management at Pioneer Natural Resources will likely be out of a job once the company's $60 billion sale to Exxon Mobil is completed, but the top brass will

Pioneer's mega-sale to Exxon will trigger $71 million in exec windfalls
Business

Ford to temporarily cut one shift at Michigan EV plant

Ford Motor said on Friday it will temporarily cut one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple

Ford to temporarily cut one shift at Michigan EV plant
Business

UAW says it had to escalate action on Ford

The United Auto Workers said on Saturday they had to escalate action against Ford as they expected a revised offer from the automaker but were given the same offer as two weeks ago.

UAW says it had to escalate action on Ford
Business

Disney's 100-year journey from garage studio to media empire

In 1923, Walt Disney left his failing animation company called Laugh-O-gram Films and used his last $40 to buy a train ticket to join his brother, Roy, in Los Angeles, where they began

Disney's 100-year journey from garage studio to media empire
Business

Honda shelves plan to co-develop smaller EVs with GM - Bloomberg News

Honda Motor is shelving plans to jointly develop affordable electric vehicles (EVs) with General Motors due to a changing business environment, Bloomberg News reported on Wednesday, citing

Honda shelves plan to co-develop smaller EVs with GM - Bloomberg News
Business

Norfolk Southern profit slumps, takes $163 million charge on Ohio derailment

U.S. railroad operator Norfolk Southern's third-quarter profit slumped 41% on Wednesday as the company took another hefty charge related to the Eastern Ohio freight train derailment.

Norfolk Southern profit slumps, takes $163 million charge on Ohio derailment
Business

Ford, UAW negotiators reach labor deal - CNBC

Ford Motor and the negotiators of the United Auto Workers (UAW) union have reached a labor deal, pending union leadership approval, CNBC reported on Wednesday.

Ford, UAW negotiators reach labor deal - CNBC
Business

Toyota September production jumps on stronger Japan output

Toyota Motor said on Monday that worldwide production rose 1.5% in September from the same period a year earlier to 900,919 vehicles, boosted by stronger demand in Japan, the United

Toyota September production jumps on stronger Japan output
Business

Stellantis says it least affected by N.America strikes among Detroit Three

Stellantis said on Tuesday the strikes in North America over pay increases would cost it less than 750 million euros ($795 million) in terms of profitability, after a negative impact

Stellantis says it least affected by N.America strikes among Detroit Three
Business

Tesla to build 25,000-euro car at German plant - source

Tesla will build a 25,000-euro ($26,837.50) car at its factory near Berlin, a source with knowledge of the matter said on Monday, in a long-awaited development for the electric

Tesla to build 25,000-euro car at German plant - source
Business

China car sales rise almost 10% yr/yr in Oct, third month of gains

China's passenger vehicle sales jumped 9.9% in October from a year earlier, the China Passenger Car Association (CPCA) said on Wednesday, extending gains to a third month

China car sales rise almost 10% yr/yr in Oct, third month of gains
Business

Virgin Galactic to cut workforce by 18%

Virgin Galactic Holdings on Wednesday announced a workforce reduction of approximately 185 employees, constituting about 18% of its workforce.

Virgin Galactic to cut workforce by 18%
Business

EV startup Lucid enters lucrative SUV market with $80,000 Gravity

Lucid, known for its flagship Air luxury electric sedan, unveiled the much-awaited Gravity sport utility vehicle on Thursday, driving the

EV startup Lucid enters lucrative SUV market with $80,000 Gravity
Business

Nikola CFO Anastasiya Pasterick to resign

(This Nov. 17 story has been corrected to say that the CFO leaves less than a year after taking up the role, not after joining the company, in paragraph 1, and removes reference from the headline) (

Nikola CFO Anastasiya Pasterick to resign

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