A turn in the market has eroded the sharp rally at the start of the year, as investors have fretted about recent signals suggesting a resurgence in inflation. Stocks slumped Friday on their way to their worst week of the year, as investors balked at fresh government data that added to a flurry of signals …
The maker of electric luxury sedans said it made more than 7,000 cars in 2022, achieving a scaled-down target. Lucid Motors said on Wednesday that it increased production of its luxury electric sedans by more than 50 percent in the fourth quarter, as better supplies of parts and materials allowed the company to slightly exceed …
Lucid Motors Steps Up Production as Supply Chain Problems Ease Read More »
The maker of electric luxury sedans said it made more than 7,000 cars in 2022, achieving a scaled-down target. Lucid Motors said on Wednesday that it increased production of its luxury electric sedans by more than 50 percent in the fourth quarter, as better supplies of parts and materials allowed the company to slightly exceed …
Lucid Motors Steps Up Production as Supply Chain Problems Ease Read More »
Shareholders’ lawyers challenged the board’s contention that Elon Musk’s record-setting compensation was deserved and an effective tool of motivation. A lawsuit challenging the pay package that made Elon Musk the world’s wealthiest human, at least for a while, moved a step closer to conclusion on Tuesday as lawyers for aggrieved Tesla shareholders and for the …
Judge Hears Final Arguments in Suit Over Musk’s Tesla Pay Read More »
Giacomo Bagnara What’s Up? (Feb. 12-18) Reining In Microsoft’s Chatbot After an unsettling conversation between Bing’s new chatbot and Kevin Roose, a tech columnist for The New York Times, Microsoft is considering tweaks and guardrails for the A.I.-powered technology. In the exchanges, Mr. Roose’s questions about the rules guiding the operating system, its capabilities and …
The Week in Business: A Chatbot Yearns for Existence Read More »
Bao Fan is the latest businessman in China to disappear, raising concerns that Beijing’s crackdown on the technology and financial industries will continue. Bao Fan, a renowned investment banker in China, has disappeared and is unreachable, raising concerns that Beijing’s crackdown on the country’s business elite is continuing. In a filing to the Hong Kong …
The steadfastness of India’s economy attests to the size and seeming strength of the country’s broader business landscape. When shares of the Adani Group, until recently India’s largest conglomerate, began their free fall late last month, shedding more than $100 billion in days, some observers worried that the collapse could bring down the country’s capital …
Why Adani’s $100 Billion Loss Hasn’t Tanked India’s Markets Read More »
Gautam Adani began the year as one of the richest men who ever lived, an upstart billionaire whose conglomerate, one of India’s largest, had surged in value by 2,500 percent in five years. That rise, as he portrayed it, wasn’t his alone: It was inseparable from the “growth story” of India itself. His companies’ goals …
Gautam Adani’s Rise Was Intertwined With India’s. Now It’s Unraveling. Read More »
The case centered on whether investors lost money because they believed Mr. Musk’s social media posts about taking Tesla private in 2018. A jury decided Friday that Elon Musk was not liable for losses suffered by investors after he posted messages on Twitter saying he had secured the funding to take Tesla private in 2018. …
Jury Rules for Elon Musk and Tesla in Investor Lawsuit Over Tweets Read More »
Mark Zuckerberg’s company recorded its biggest daily market gain in nearly a decade, as the mood brightens among tech investors. Meta’s stock surged on Thursday after the company reported better-than-expected earnings, said it would buy back billions of dollars in its stock, and overcame a court challenge to its ambitions in the so-called metaverse. Shares …
Meta Soars by Most in Decade, Adding $100 Billion in Value Read More »
Economic and military uncertainty clouds the outlook for Exxon, Chevron and other energy companies, whose bonanza from high prices is already fading. Exxon Mobil made $56 billion in profit last year, its largest annual haul ever. Chevron earned $36 billion, also a company record. But after a bountiful 2022, the outlook for those companies and …
Oil Giants, After Surge in Profits, Are Wary About Spending Read More »
More than a half-century ago, Boeing unveiled the 747, a massive and striking airplane that captured the public imagination and brought air travel to the masses. The jet has been a workhorse since, ferrying passengers and cargo around the world. But its days are numbered: On Tuesday, Boeing plans to hand over the last 747 …
If the debt limit is breached, investors expect Treasury to put bond payments first. It’d be politically and practically fraught. Washington’s debt limit drama has Wall Street betting that the United States will employ a fallback option to ensure it can make good on payments to its lenders even if Congress doesn’t raise the nation’s …
Wall Street Is Counting on a Debt Limit Trick That Could Entail Trouble Read More »
Misconceptions about passive income abound, namely that it’s easy to earn. Luca Alboretti was enticed by the thought of making money in his sleep. He was looking to supplement his income as a real estate agent in 2018 when he created an online store selling golf products, an idea he had hatched after watching a …
What’s Passive Income? It’s Not What Influencers Say It Is. Read More »
The electric car company is facing intensifying competition, supply chain disruptions and concerns about the behavior of Elon Musk. Tesla reported a respectable jump in profit for the last quarter of 2022, but slipping profit margins and slowing sales growth underlined the challenges that have weighed on the carmaker’s stock. The profit increase of 12 …
Under questioning, Mr. Musk said he hadn’t discussed how much money investors would put in to help him take his car company private. Under direct questioning by a federal judge on Tuesday, Elon Musk could not say exactly how much money investors were considering putting into his 2018 proposal to take Tesla off the stock …
Elon Musk Said Tesla Buyout Plan Didn’t Involve ‘a Specific Number’ Read More »
Mr. Musk testified in a lawsuit filed by investors who claim his 2018 statements about a plan to buy up the carmaker’s stock cost them billions. Elon Musk said on Monday that he had not lied or misspoken about his plan to take Tesla off the stock market in 2018, testifying in federal court that …
Elon Musk Says He Could Have Raised Funds to Take Tesla Private Read More »
Giacomo Bagnara What’s Up? (Jan. 15-21) The U.S. Hits Its Debt Ceiling The United States hit its borrowing cap of $31.4 trillion on Thursday, setting the stage for a bitter fiscal fight in Congress over raising the limit. Treasury Secretary Janet L. Yellen said the government would take “extraordinary measures,” at least until early June, …
The Week in Business: The Debt Limit and Politics Read More »
The chief executive of Tesla testified in a federal civil trial about a 2018 plan to take the automaker private that fizzled out. Elon Musk testified on Friday that he was aware that he posted important information on his Twitter account about Tesla, the electric car company he runs. But he denied that his social …
Elon Musk Testifies That His Tweets Did Not Drive Tesla’s Stock Price Read More »
Giacomo Bagnara What’s Up? (Jan. 8-14) System Breakdown On the heels of Southwest Airlines’ holiday travel meltdown, a much wider systemic breakdown grounded planes last week. The source of the problem lay with the Federal Aviation Administration, whose system alerting pilots to safety issues went down on Wednesday. In total, the disruption caused more than …
Signs of slowing inflation are competing with downbeat company forecasts as earnings season begins. S&P 500 Jan. 11 Jan. 12 Jan. 13 3,940 3,950 3,960 3,970 3,980 3,990 Data delayed at least 15 minutes Source: FactSet By: Ella Koeze Wall Street was on track for a second week of gains on Friday, a cautious rally …
Investors Are Walking a Tightrope as Stocks Head for a Second Weekly Gain Read More »
In the days leading up to Christmas, the chief executive of Southwest Airlines, Bob Jordan, thought the company would quickly recover from the frigid weather that forced thousands of flight cancellations nationwide. But that changed by Dec. 25 when it became clear that the airline’s problems were spiraling out of control. After a sleepless night, …
Bob Jordan, Southwest Airlines’ CEO, on What Went Wrong Read More »
Cut back on stock and bond holdings, and focus on money market funds, C.D.s, Treasury bills and other options that are now offering high yields, our columnist says. Over short periods, financial markets can be treacherous. So I usually recommend spreading your risks with low-cost investments in the entire stock and bond markets, and hanging …
Earnings season kicks off this week, and analysts expect a big drop in corporate profits and more announcements about layoffs. Don’t look up.Timothy A. Clary/Agence France-Presse — Getty Images Wall Street braces for a weak earnings season Stocks may have eked out gains so far in the new year, but don’t be fooled. With corporate …
Wall Street Sets Low Expectations for Corporate Earnings Read More »
Giulio Bonasera What’s Up? (Jan. 1-7) A Cooling Jobs Market After many consecutive months of jobs reports showing strong gains, new jobs data on Friday appeared to begin breaking the mold. The economy gained 223,000 jobs last month, a slight decline from the November total of 263,000, which was similar to the September and October …
The airline has not said how much it might have to spend to reimburse customers and upgrade its technology systems. The meltdown that forced Southwest Airlines to cancel more than 15,000 holiday flights could cost the carrier hundreds of millions of dollars in lost revenue and customer reimbursements, industry analysts say. The total could equal …
Southwest’s Meltdown Could Cost It Up to $800 Million Read More »
Worry about the carmaker’s sales in the world’s largest car market is one reason the shares have plunged. Tesla sales in China, the world’s largest car market and a crucial element of the company’s fortunes, slumped at the end of 2022 as domestic manufacturers like BYD gained ground with lower-priced electric vehicles, according to data …
Tesla Sales in China Slump as Competition Intensifies Read More »
Intense legal wrangling led to the disgraced crypto mogul paying virtually nothing to live with his parents ahead of his upcoming trial. He returns to court on Tuesday. Sam Bankman-Fried is due back in court today.Justin Lane/EPA, via Shutterstock The truth about Bankman-Fried’s historic bail deal Andrew here. Happy New Year and welcome back to …
Intense legal wrangling led to the disgraced crypto mogul paying virtually nothing to live with his parents ahead of his upcoming trial. He returns to court on Tuesday. Sam Bankman-Fried is due back in court today.Justin Lane/EPA, via Shutterstock The truth about Bankman-Fried’s historic bail deal Andrew here. Happy New Year and welcome back to …
The company’s rapid growth is expected to ease as the economy slows and demand for its electric cars weakens. Tesla said Monday that it delivered 405,000 electric cars during the last three months of the year, an 18 percent increase from the previous quarter that fell short of analyst estimates and may reinforce investor fears …
2022 0% S&P 500 −20 Crypto Emerging markets −40 The Year the Long Stock Market Rally Ended How fast inflation and high interest rates upended markets across the globe. Karl Russell and Joe Rennison has spent a decade reporting on markets. Karl Russell and John-Michael Murphy pored through years of stock and market data to …
Investors blame Elon Musk and wonder how much more the stock will fall. In a down year for stocks, the 70 percent drop in Tesla’s share price stands out for the scale of wealth vaporized and the unorthodox behavior of its chief executive, Elon Musk. The collapse of Tesla’s stock price destroyed about $680 billion …
Tesla Had a Bad Year. Some Investors Are Blaming Elon Musk. Read More »
The disgraced crypto entrpreneur was freed on $250 million bond, but is due back in court in early January on federal fraud charges. FTX founder Sam Bankman-Fried is set to return to court on Jan. 3.Yuki Iwamura/Associated Press Free on bail, Bankman-Fried faces “epic” legal fight Sam Bankman-Fried, the fallen crypto mogul who told The …
Crypto Mogul Sam Bankman-Fried’s ‘Epic’ Legal Battle Read More »
The Securities and Exchange Commission chair, Gary Gensler, said existing rules were adequate but warned crypto issuers and exchanges on compliance. The swift collapse of the cryptocurrency empire FTX is prompting urgent calls in Washington for legislation to rein in the digital asset industry. But after two top executives tied to FTX pleaded guilty to …
Even After FTX, S.E.C. Chair Sees No Need for New Crypto Laws Read More »
The maker of electric cars faces sharp competition, plummeting shares and production woes while its chief executive is preoccupied with Twitter. Production headaches on three continents. Intensifying competition. A plunging share price. And a distracted chief executive seemingly bent on alienating some of the company’s most loyal customers. A growing list of problems at Tesla, …
Elon Musk’s Distraction Is Just One of Tesla’s Problems Read More »
The bankrupt crypto exchange owes billions to a long line of creditors. Getting their money back could prove difficult, given the unique nature of cryptocurrency assets. Sam Bankman-Fried faces multiple charges of defrauding investors and customers.Agence France-Presse via Getty Images Why getting back money from FTX will be so hard The legion of creditors who …
FTX Victims Face a Tough Road Getting Their Money Back Read More »
Giacomo Bagnara What’s Up? (Dec. 11-17) Criminal Charges for Sam Bankman-Fried Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was expected to appear before the House Committee on Financial Services last Tuesday — one of the many efforts to investigate the exchange’s collapse. But the day before, he was arrested in the Bahamas …
The Week in Business: The FTX Founder’s Rapid Fall Read More »
Wall Street has been wary of the effects that central bankers’ determination to fight inflation could have on the economy. S&P 500 Dec. 15 Dec. 16 3,840 3,860 3,880 3,900 3,920 Data delayed at least 15 minutes Source: FactSet By: Ella Koeze Stocks sank on Friday, dragging markets lower at the end of a gloomy …
Twitter’s owner has now sold $23 billion worth of Tesla stock this year, much of it after he pledged in April to stop selling shares to finance his deal to acquire the social media company. If Tesla shareholders were already worried that Elon Musk was too distracted by his new chief executive position at Twitter, …
Elon Musk Sells Another $3.6 Billion in Tesla Stock Read More »
Central bankers around the world have pledged to continue raising interest rates even as economies slow. Stocks tumbled on Thursday as investors feared that central banks were prepared to continue raising interest rates despite signs of economies already slowing, if not shrinking. The S&P 500 fell 2.8 percent in afternoon trading, extending losses on Wednesday …
Markets Drop as Investors Fear the Effects of Higher Interest Rates Read More »