GM Is Moving Out of the Renaissance Center in Detroit, For Now

Reuters
Musk lays off Tesla senior executives in fresh job cuts, The Information reports
Rebecca Tinucci, senior director of the electric vehicle maker's Supercharger business, and Daniel Ho, head of the new vehicles program, will leave on Tuesday morning, the report said. Musk also plans to dismiss everyone working for Tinucci and Ho, including the roughly 500 employees who work in the Supercharger group, The Information said. Tesla's public policy team, which was led by former executive Rohan Patel, will also be dissolved, the report said.
2d ago
USA TODAY
Walmart launches new grocery brand called bettergoods: Here's what to know
Walmart announced the launch of bettergoods its own private food brand with several category pillars. Here's what to know.
2d ago
Fortune
Geopolitics and U.S. rules push chip firms to decouple from mainland China, with one major Taiwanese testing company ditching the market entirely
On Friday, King Yuan Electronics Co., a Taiwan-based chip testing firm, announced that it was selling its mainland China-based operations, citing geopolitics.
2d ago
Business Insider
Elon Musk says he picked Tesla robotaxi's August 8 launch date because it's a lucky number in China
Tesla is set to unveil its robotaxi on August 8. Musk said he picked the date partly because it is a lucky number in China.
2d ago
CNN Business
No, the electric vehicle market isn’t crashing. It just needs recharging.
When pondering what’s really happening with the auto industry’s shift to electric vehicles, it’s important to remember that two things – two very different things – can be true at the same time.
17h ago
LA Times
Fast food operators rushing to use AI in the wake of minimum wage hikes
In the wake of the new $20 minimum wage for industry workers, quick-service restaurants in California are accelerating and expanding their use of technology.
11h ago
Zacks
Semiconductor Valuations Going Through the Roof, 2 Stocks with Equally Strong Prospects
While secular growth prospects for the Semiconductor - General industry remain as bright as ever, the extremely rich valuations keep us on the sidelines. NVDA and DINRF are worth buying however.
1d ago
AFP
Tesla to cut hundreds more jobs in Musk cost push: report
Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report.Tesla last week reported a 55 percent drop in quarterly earnings to $1.1 billion, reflecting a decline in EV sales in a market with intensifying competition.
2d ago
CNN Business
Volkswagen’s electric car orders double in Europe
Volkswagen’s orders for electric vehicles shot up in Europe in the first quarter of 2024 compared with a year ago, countering suggestions that drivers may be losing interest in EVs.
2d ago
Reuters
Oil falls to 7-week low on surprise US storage build, Middle East hopes
NEW YORK (Reuters) -Oil prices fell about 3% to a seven-week low on Wednesday on a surprise build in U.S. crude stocks, the prospect of a Middle East ceasefire agreement and as hopes faded for near-term U.S. interest rate cuts that could boost oil demand. Brent futures for July delivery fell $2.89, or 3.4%, from where the July contract closed on Tuesday to settle at $83.44 a barrel on Wednesday. U.S. West Texas Intermediate (WTI) crude fell $2.93, or 3.6%, to settle at $79.00 a barrel.
1d ago
Reuters Videos
EVs are getting smarter and cheaper in China
STORY: Light-up emojis. Music for pedestrians outside. In China, electric carmakers are offering up luxury tech – without the luxury price tag – in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as $20,000 – less than half the cost of the average new car in the U.S. Analysts say that poses a big challenge for foreign heavyweights like Tesla and Volkswagen. This is the Nammi – on display here at the Beijing auto show. It’s made by state-owned automaker Dongfeng and sells for under $10,000. That’s around the same as BYD’s Seagull EV – China’s fourth best-selling electric vehicle. The market is also crowded with electric and plug-in vehicles that splash luxury technology. Xpeng is planning to offer an EV with high-level self-driving features – for under $21,000. Analysts say the price of specialized components like sensors needed for self-driving and screens for onboard entertainment has tumbled. That's making competition in the world’s largest auto market all the more fierce… And chipping away at the halo that once hung over foreign brands. That’s according to an outlook from McKinsey analysts released in March. Take Zeekr, for instance. It's the carmaker with those emojis. Here’s its Shanghai head of design, Javier-Garcia Gallardo: “When we see the differences between our product launch in China versus our product launch in Europe and, you know, the technical details are as important as the design and the brand. And this integration of technology is essential for the Chinese customer.” Still, German automakers say they’re not backing down. Here’s Mercedes-Benz CEO Ola Kallenius: “We have a dedicated digital tech team here all the way down to providing things like in the new E-Class, you can sing karaoke. Maybe you don't have that feature in Germany. Maybe you should. But here, customers love it.” Mercedes, as well as Volkswagen, both told Reuters they’re working to deliver those so-called “wow effects” for Chinese buyers.
7h ago
Road & Track
Elon Musk Just Laid Off the Entire Supercharger Team
With numerous manufacturer making the switch to Tesla's Supercharger system, the future looks murky.
1d ago
Business Insider
Elon Musk is going hardcore again
Elon Musk made it crystal clear he isn't messing around about the need for meaningful layoffs, a new report reveals.
1d ago
Yahoo Finance Video
Why energy plays are for long-term investors
The energy sector (XLK) has continued to outperform throughout 2024. Alpine Saxon Woods Chief Market Strategist Sarah Hunt and CFRA Energy Equity Analyst and Deputy Research Director Stewart Glickman join Market Domination to share insight on navigating this sector. Glickman emphasizes that investors looking to capitalize on the energy sector should first consider their outlook for crude oil prices. He believes that with crude oil prices are expected to average between $80 and $90 per barrel in 2024: "In that kind of environment, you want to be positioned in upstream," the analyst tells Yahoo Finance. He recommends exploring names like Exxon (XOM), citing "a lot of growth potential." With an uptick in mergers and acquisitions (M&A) activity throughout the sector, Glickman notes that the "common theme" is exposure to the Permian Basin, a trend he believes is "likely to persist." Hunt acknowledges that supply and demand issues have been a headwind for the sector since the pandemic. However, with an "energy transition underway" she remains bullish on energy "from a longer-term perspective." She also highlights the significant consolidation within the sector, with companies combining forces to boost operations and enhance their competitive edge. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
1d ago
Yahoo Finance Canada
Trans Mountain may be 'the last pipeline' for Canada: Cenovus CEO
The industry expects the bigger link between Alberta and export terminals on British Columbia's coast to boost prices.
11h ago
Reuters
Graphite miners lobby US govt to impose levy on China-sourced EV material
North American graphite miners are lobbying the US government to impose a 25% tariff on three graphite products sourced from China in order to counter Beijing's monopoly on a key material used in automobile batteries. If successful, the move will pit the miners against their main customers- the original equipment manufacturers (OEMs) and add to tensions with China, which controls the majority of the critical metals used in the world's electric vehicles and other motors. The U.S. government is set to decide in May whether to bring graphite into the list of minerals that attract the higher Section 301 tariff.
1d ago
Reuters Videos
Oil prices fall on Mideast ceasefire hopes
STORY: The conflict in Gaza has rocked oil markets, sending prices higher. Traders have feared an unpredictable escalation, potentially hitting supplies in the region. On Wednesday, however, there were signs of those concerns easing. U.S. and international oil prices fell on growing hopes for a ceasefire. That follows a renewed push by Egypt to revive talks between Israel and militant group Hamas, which runs Gaza. Benchmark crude prices fell over 1% in early European trade in response, down for a third straight day. Other factors also weighed on the market. New figures showed a rise in U.S. oil stocks, defying forecasts for a fall. The country also saw its biggest monthly increase in production for over three years. Keeping oil from slipping any further was a Reuters survey pointing to a fall in output from OPEC nations. That reflects lower exports from Iran, Iraq and Nigeria. Back in January, the oil producing group of nations and allies agreed voluntary cuts to output in a bid to prop up prices.
20h ago
Oilprice.com
WTI Finds Support After Sell Off Suddenly Halts
WTI crude found resistance at $81 per barrel this morning, countering a sell-off as traders discount geopolitical risk.
2d ago
Zacks
Zacks Industry Outlook Highlights Agnico Eagle Mines, Gold Fields, AngloGold Ashanti and Harmony Gold
Agnico Eagle Mines, Gold Fields, AngloGold Ashanti and Harmony Gold have been highlighted in this Industry Outlook article.
2d ago
Bankrate
What is Bitcoin mining and how does it work?
Here are the basics on how Bitcoin mining works and some key risks to be aware of.
1d ago

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