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☆ Rollback in IRA's EV incentives would benefit China, says GM board member
▼ + stars: | 2024-05-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Any significant reduction or a rollback of the Inflation Reduction Act's support for electric vehicles would benefit China, according to General Motors board member Jon McNeill. "I think we risk losing the auto manufacturing share to China. The IRA of 2022 includes incentives for consumers to purchase EVs as well as significant support for carmakers and suppliers to produce all-electric vehicles and their components in North America rather than overseas. The expansion of Chinese automakers has been a growing concern for companies from Detroit to Germany. Global automakers are worried that BYD and other Chinese rivals could flood their markets, undercutting domestic production and vehicle prices.

Persons: Jon McNeill, McNeill, Donald Trump Organizations: General Motors, DVx Ventures, CNBC, Global, Biden Locations: China, North America, Detroit, Germany

☆ GM all-electric Chevy Equinox goes on sale as the latest test for EV production and demand
▼ + stars: | 2024-05-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

The Equinox EV is launching with higher-priced models that start at roughly $43,000 to $51,100 (without any incentives). The Equinox EV is arriving to market following the Blazer EV and alongside GM's more than $96,000 Silverado EV RST. Equinox EVAll of that being said, the Equinox EV is an Equinox in name only. Outside of the U.S., the Equinox EV will be sold in Canada, Mexico, the Middle East and some South American markets such as Brazil. GM's 2024 Chevrolet Equinox EV (right) next to a gas-powered Chevy Equinox on May 16, 2024 in Detroit.

Persons: Michael Wayland, Mark Reuss, Tesla, Kathleen Murawski, Chevy Bolt, It's, We've, Rory Harvey, we've, Marissa West, West, Paul Waatti, Waatti Organizations: CNBC DETROIT, General Motors, GM, CNBC, Chevy, GMC Hummer EV, Blazer, Global, Silverado EV RST, Silverado, GM North America, Chevrolet, Motors, EV Locations: Detroit, China, U.S, Canada, Mexico, Brazil

☆ Trump allied Republicans are changing the GOP's approach to labor, free markets and regulation
▼ + stars: | 2024-05-21 | by ( Eamon Javers | ) www.cnbc.com time to read: +9 min

WASHINGTON — The first Trump presidency shattered conservative economic ideology on the Republican Party's approach to free markets and tariffs. Source: AmericanCompass.org To be clear, this is not yet the dominant strain of Republican economic thinking in Washington. Cass argues that Republican economic policy has been focused on the wrong goals: lowering prices and increasing consumption. "It was absolutely black letter economic doctrine that the point of economic policy was to consume as much as possible. watch now"Spinning assets in circles creates nothing of value, and in fact creates the opposite of value," Cass said.

Persons: Donald Trump, Brendan Mcdermid, Eamon Javers, WASHINGTON —, Trump, Trump's, Sohrab Ahmari, Ahmari, elitists, Bud Light, Oren Cass, Cass, Michael Wayland, CNBC Cass, –, Biden, Pennsylvania Republican Sen, Pat Toomey Organizations: Reuters, WASHINGTON, Trump, Republican, GOP, Wall Street, Amazon, Starbucks, U.S . Chamber of Commerce, Block, Development Bank, Environmental, American, Bronco, Ford's, Ford's Michigan Assembly, CNBC, Wall, Pennsylvania Republican Locations: Freeland , Michigan, U.S, America, Washington, China, Block, Ford's Michigan, Cass, Pennsylvania

☆ Can Republicans Embrace Voting by Mail? Pennsylvania Offers a Test.
▼ + stars: | 2024-05-21 | by ( Michael Wines | ) www.nytimes.com time to read: 1 min

When voters turned out in February to fill a vacant seat in the Pennsylvania House of Representatives, the stakes were nothing less than control of the chamber, which Democrats held by a single seat. But as Election Day dawned, a nor’easter dumped several inches of snow, stranding would-be voters at home. Bad luck dogged others: One woman backing Ms. Cabanas skipped the polls after she fell ill and was rushed to the hospital. Ms. Cabanas’s Democratic opponent faced similar hurdles but had one advantage: More than 3,300 of his voters had mailed in their ballots early. Ms. Cabanas could count only 532.

Persons: Candace Cabanas, Cabanas, Cabanas’s Organizations: Republican, Cabanas’s Democratic Locations: Pennsylvania

☆ Biden denounces ICC for ‘outrageous’ implication of equivalence between Israel and Hamas
▼ + stars: | 2024-05-20 | by ( Michael Williams | ) edition.cnn.com time to read: +5 min

The prosecution team is also seeking warrants for Israel’s Defense Minister, Yoav Gallant, along with top Hamas leaders, Khan said. Khan, the ICC prosecutor, batted down criticisms over the tribunal’s efforts to secure the warrants. News that the ICC is seeking warrants for the Israeli leaders sent reverberations of condemnation across the world. Close US allies like Britain said the court’s efforts were “not helpful” in reaching a pause in fighting. Biden administration officials also questioned whether the ICC had the jurisdiction to seek those arrests.

Persons: Washington CNN —, Biden, Karim Khan, CNN’s Christiane Amanpour, Benjamin Netanyahu, Yahya Sinwar, Yoav Gallant, Khan, ”, Biden –, CNN’s Erin Burnett, cajole Netanyahu, Netanyahu, Vladimir Putin, Moammar Gadhafi, Amanpour, Gallant, Antony Blinken, United States “, Mike Johnson, John Kirby, Independent Sen, Bernie Sanders –, Biden’s –, Sanders, ” Sanders, Kirby, “, Putin, ” Kirby, CNN’s Nikki Carvajal, Haley Talbot Organizations: Washington CNN, International, ICC, Israeli, Israel’s Defense, Biden, GOP, National Security, Independent, Mr Locations: Israel, Rafah, Gaza, Russian, Britain, Germany, United States, Ukraine

Morehouse College President David A. Thomas speaks at Northeastern University’s commencement ceremony in Boston on May 5. Danielle Parhizkaran/The Boston Globe/Getty ImagesMorehouse College President David A. Thomas said Thursday he would shut down commencement ceremonies “on the spot” rather than allow police to remove student protesters in zip ties during President Joe Biden’s graduation speech. Biden’s scheduled commencement speech Sunday at one of the nation’s preeminent historically Black colleges comes as school officials around the country have called in law enforcement to clear pro-Palestinian encampments and quell demonstrations in recent weeks. “So, for example, prolonged shouting down of the president as he speaks. I have also made a decision that we will also not ask police to take individuals out of commencement in zip ties.

Persons: David A, Thomas, Danielle Parhizkaran, Joe Biden’s, Biden’s, ” Thomas, ”, Morehouse Organizations: Morehouse, Northeastern, Boston Globe, Getty Images Morehouse College, CNN, White House Locations: Boston, Atlanta, Gaza

☆ Biden to deliver commencement at Morehouse College amid campus division over his presence
▼ + stars: | 2024-05-19 | by ( Michael Williams | ) edition.cnn.com time to read: +4 min

The commencement at Morehouse, a historically Black, all-male college in Atlanta that counts the Rev. During a Thursday news briefing at the White House, Benjamin said he and the students had a wide-ranging conversation, including on the conflict in the Middle East. “I think what’s gonna be most important are the words that the president articulates,” Benjamin said at the White House. Those cases of campus turmoil prompted Biden, in brief remarks from the White House earlier this month, to denounce some of the actions of campus protesters. And after his Morehouse speech on Sunday, Biden is set to travel to Detroit, where he will address an NAACP dinner.

Persons: Joe Biden, Martin Luther King Jr, Biden, Stephen Benjamin, Benjamin, ” Benjamin, ”, George Mason, “, ” Biden, ” Biden’s Morehouse, Brown, Morehouse, Biden’s, Kamala Harris Organizations: Washington CNN, Sunday, Morehouse College, Morehouse, White, George, George Mason University, Israel, Columbia University, University of Texas, UCLA, “, National Museum of Locations: Israel, Atlanta, Gaza, –, Morehouse, Austin, America, Detroit

☆ ‘SNL’ takes on ‘former President Trump’s’ trial and campaign
▼ + stars: | 2024-05-19 | by ( Michael Wade Sanders | ) edition.cnn.com time to read: 1 min

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☆ Dodge and Ram boss Tim Kuniskis, father of the Hellcat, to retire from Stellantis
▼ + stars: | 2024-05-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Kuniskis will be replaced by Chrysler brand CEO Christine Feuell, who will lead Ram in addition to Chrysler, and Matt McAlear, who will be promoted from Dodge's sales lead to brand CEO and a member of Stellantis' top executive team. DETROIT – Stellantis ' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday. I wish him well in his retirement," Stellantis CEO Carlos Tavares said in a release. "I am confident that Chris will continue the work of Tim in leading the iconic Ram brand. Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future."

Persons: Christine Feuell, Ram, Matt McAlear, Dodge, Tim Kuniskis, Tim, Carlos Tavares, Chris, Matt, Sergio Marchionne, Kuniskis, Mark Stewart Organizations: Chrysler, Challenger, Dodge, DETROIT, U.S, Fiat Chrysler, French, PSA Groupe, Goodyear Tire Locations: American, North America, Durango, South America, Asia, Pacific, China

☆ Mercedes-Benz workers in Alabama vote against UAW union membership
▼ + stars: | 2024-05-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023. Andi Rice | Bloomberg | Getty ImagesMercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday. Union organizing failed with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. More than 90% of the 5,075 eligible Mercedes-Benz workers voted in the election, according to the results. If no objections are filed, the election result will be certified, and the union will have to wait one year to file for a union election for a similar bargaining unit.

Persons: Andi Rice, Shawn Fain, Margaret Mock, Stellantis, Michael Wayland, Stephen Silvia, Southern, Mercedes, Silvia Organizations: United Auto Workers, UAW, ZF, Systems, Bloomberg, Getty, Mercedes, Benz, National Labor Relations Board, Detroit, Union, NLRB, Team, Detroit automakers Ford Motor, General Motors, Volkswagen, Southern Gamble, Workers, Foreign, American University Locations: Tuscaloosa , Alabama, Alabama, Tennessee, Sterling Heights , Michigan, U.S, Washington ,

☆ Cohen Holds His Temper in Check During Hours of Cross-Examination
▼ + stars: | 2024-05-16 | by ( Michael Wilson | More About Michael Wilson | ) www.nytimes.com time to read: +1 min

Much has been said about Michael D. Cohen’s composure during his lengthy cross-examination, as if it were a facade that couldn’t be expected to hold much longer. Mr. Cohen, 57, is a central-casting New Yorker, brash and sharp-elbowed. After falling out with Mr. Trump, Mr. Cohen turned his fury on his former boss, once calling him a “Cheeto-dusted cartoon villain” on social media. This week, Mr. Trump’s lawyer, Todd Blanche, has tried to lure that earlier version of the witness into the spotlight, repeatedly goading him about lies he has told. Just minutes before Thursday’s lunch break, Mr. Blanche accused Mr. Cohen once again of an untruth, this time about a call to Mr. Trump’s bodyguard.

Persons: Michael D, ”, Cohen, Donald J, Trump, Trump’s, Todd Blanche, Blanche, Mr

☆ Cohen’s Cross-Examination to Continue as Trump Trial Enters Homestretch
▼ + stars: | 2024-05-16 | by ( Michael Wilson | More About Michael Wilson | ) www.nytimes.com time to read: +1 min

The questioning of Mr. Cohen, who was Donald J. Trump’s former fixer, is the beginning of the end of the trial, which began April 15 and could conclude before Memorial Day weekend. On Tuesday, Mr. Trump’s lawyer Todd Blanche came out swinging, suggesting that Mr. Cohen had referred to him personally on social media with a vulgarity. Mr. Blanche went on to ask about Mr. Cohen’s longtime habit of talking to reporters, his ignoring requests from prosecutors to stop speaking and his vitriol toward Mr. Trump. Mr. Cohen, who puts out podcasts and TikTok videos, has suggested that Mr. Trump belongs in a cage like an “animal” and referred to him as a “Cheeto-dusted cartoon villain.”In court, Mr. Cohen responded calmly and matter-of-factly, avoiding any outbursts or gaffes that could hurt his credibility. Mr. Cohen testified that Mr. Trump directed him to pay $130,000 in hush money to Stormy Daniels, a porn star, to suppress her account of a sexual rendezvous with the former president in a Lake Tahoe, Nev., hotel in 2006.

Persons: Michael D, Cohen, Mr, Donald J, Trump’s, Todd Blanche, Blanche, Trump, ”, Stormy Daniels Locations: Lake Tahoe, Nev

☆ ‘They have crossed a line’: Australian university orders pro-Palestinian protesters to vacate building
▼ + stars: | 2024-05-16 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +6 min

Brisbane, Australia CNN —Pro-Palestinian protesters occupying a building at the University of Melbourne have been told to leave by university officials, who say they’ve “crossed a line” by entering the building and disrupting class for thousands of students. Martin Keep/AFP/Getty ImagesOn the video, protesters said they wouldn’t leave until the university responded to their demands, which include divesting from weapons companies and condemning Israel’s actions in Gaza. The University of Melbourne says student protesters "crossed a line" by occupying the building. Meanwhile, at least seven student protesters at Australian National University (ANU) in Canberra have received letters from the university telling them to leave the site by the end of Friday. In his video message distributed by the University of Melbourne, Wesley called on protesters to “peacefully end the occupation.”“Red lines have been crossed,” he said.

Persons: ”, Michael Wesley, “, Dana Alshaer, Mahmoud Alnaouq, Pip Nicholson, Martin, hadn’t, Alshaer, they’d, Jasmine Duff, for Palestine Victoria, Nick Reich, Wesley Organizations: Australia CNN — Pro, University of Melbourne, “, Arts West, ”, of Melbourne, Victoria Police, Hamas, Getty, Protesters, Deakin University, CNN, for Palestine, Australian National University, ANU, University Locations: Brisbane, Australia, Israel, UniMelb, Palestine, Gaza, Melbourne, Canberra, “

☆ Live Updates: Cross-Examination of Michael Cohen to Continue in Trump Trial
▼ + stars: | 2024-05-16 | by ( Michael Wilson | ) www.nytimes.com time to read: +5 min

Mr. Trump faces 34 felony counts of falsifying business records to hide the reimbursement of Mr. Cohen. Mr. Trump, 77, has denied the charges and says he did not have sex with Ms. Daniels. Mr. Blanche grilled Mr. Cohen about social media posts. Their defense of Mr. Trump follows a gag order that bars him from attacking jurors and witnesses like Mr. Cohen. Mr. Trump has already been cited for 10 violations so far and threatened with jail if he continues.

Persons: Michael D, Cohen, Michael Cohen, Donald Trump, Todd Blanche, Trump, Stormy Daniels, Daniels, Trump’s, Juan M, Merchan, “, Mr, Blanche, ” Mr, Donald J, Mark Peterson, Cohen’s, Mike Johnson of, Johnson, ”, Doug Burgum, Vivek Ramaswamy Organizations: Mr, Prosecutors, Republican Party Locations: Manhattan, Lake, Mike Johnson of Louisiana, North

☆ Navigating how China can navigate Biden's EV tariffs
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNavigating how China can navigate Biden's EV tariffsCNBC’s Michael Wayland, joins 'Power Lunch' to discuss how the U.S.'s tariffs on China EVs will affect the import of those vehicles.

Persons: Michael Wayland Locations: China, U.S

☆ Biden issues a challenge to Trump as he withdraws from traditional debate dates
▼ + stars: | 2024-05-15 | by ( Betsy Klein | Michael Williams | ) edition.cnn.com time to read: +2 min

In the letter, the campaign proposed debate dates in June and September. CNN has reached out to the Trump campaign and the committee for comment. In recent public appearances, Trump has seemed eager to debate Biden – he set up an empty lectern at a campaign rally in Wisconsin early last month in a taunt to Biden. The Commission on Presidential Debates announced dates for three presidential debates last November. The campaign also proposed that a vice presidential debate take place in late July after the Republican Party nominates its candidate for that position.

Persons: Joe Biden’s, Donald Trump, Biden, “ Donald Trump, ” Biden, I’ll, Donald –, Biden’s, Trump, Biden –, “, Joe, ” Trump, Jen O’Malley Dillon, ” Organizations: Washington CNN, CNN, Presidential, Republican Party Locations: Wisconsin, Green Bay, Texas, Virginia, Utah

☆ Biden's EV tariffs may not be enough to stave off the threat of Chinese vehicles in the U.S.
▼ + stars: | 2024-05-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Win Mcnamee | Getty ImagesDETROIT – President Joe Biden's plan to quadruple tariffs on China-made electric vehicles is unlikely to stave off the threat of more Chinese cars and trucks on U.S. roadways. Automotive and trade experts say the increased tariffs are a near-term protectionism act that may delay, but won't stop, Chinese automakers from coming to the U.S. with EVs. The EV tariffs, including other increases regarding battery materials, were among new tariff rates on $18 billion worth of Chinese imports. The quality and build of vehicles by Chinese automakers have gotten significantly better in recent years, as the Chinese government has subsidized their operations to grow domestic production. GM and others have found it hard to compete against budget and mainstream Chinese vehicles, including EVs.

Persons: Joe Biden, Win Mcnamee, Joe Biden's, It's, Dan Hearsch, Stellantis —, Warren Buffett, BYD, Morgan Stanley, Tim Hsiao, Lincoln Organizations: White, Getty, DETROIT, Communist, U.S . Automotive, Motors, U.S, — GM, Ford Motor, Chrysler, Warren, EV, Wall Street, China Association of Automobile Manufacturers, U.S . Vehicles, Lincoln Nautilus, Volvo, Biden Administration Locations: Rose, Washington , DC, China, Mexico, Americas, U.S

☆ Stellantis to rapidly grow exports of Chinese EVs to Europe, other countries
▼ + stars: | 2024-05-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

That's due, in part, to new American tariffs on China-made EVs, Tavares said, citing among other reasons as well. The Biden administration on Tuesday announced stiff new tariff rates on billions' worth of Chinese imports, including quadrupling tariffs on imported Chinese electric vehicles, from 25% to 100%. The joint venture's expansion plans include at least six EVs by 2027, according to a presentation by Stellantis and Leapmotor. The announcement comes amid increasing geopolitical tensions surrounding China-made electric vehicles in the U.S., Europe and other regions. Many in and around the automotive industry fear the less-expensive, China-made vehicles will flood the markets, undercutting domestic-produced EVs.

Persons: Carlos Tavares, Zhu Jiangming, EVs, Tavares, Biden, " Tavares, Stellantis Organizations: Stellantis, Leapmotor, Europe —, Asia Pacific Locations: China, Europe, Europe — France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania, East, Africa, India, Asia, South America, U.S, Hangzhou

☆ House Speaker Joins Republicans Visiting Trial to Say What Trump Can’t
▼ + stars: | 2024-05-14 | by ( Michael Wilson | Catie Edmondson | ) www.nytimes.com time to read: +1 min

As a key witness testified inside the Manhattan criminal courthouse on Tuesday morning, an increasingly familiar scene unfolded outside, as another in a parade of well-known visitors — this time Mike Johnson, the speaker of the House — stepped up to a microphone. “This is a man who is clearly on a mission for personal revenge,” Mr. Johnson said, attacking the man on the stand, Michael D. Cohen, the former fixer to Donald J. Trump. “He is someone who has a history of perjury. In recent days, Trump allies have stepped up one after another as his proxies, although Mr. Trump used a different term. “I do have a lot of surrogates,” he said in remarks before trial proceedings began on Tuesday, “and they are speaking very beautifully.”

Persons: Mike Johnson, —, ” Mr, Johnson, Michael D, Cohen, Donald J, Trump’s, Trump, ”, “ Organizations: Trump Locations: Manhattan

☆ Live Updates: Cohen Will Continue Testifying at Trump Trial After Steady Turn on Stand
▼ + stars: | 2024-05-14 | by ( Michael Wilson | ) www.nytimes.com time to read: +5 min

Mr. Cohen said that, according to Mr. Trump, she recommended calling it “locker-room talk” to explain it away. Mr. Cohen brought many of those moments to life, describing Mr. Trump’s micromanagement and his campaign’s panic after the release of the “Access Hollywood” tape. Mr. Cohen also bolstered testimony by David Pecker, the former National Enquirer publisher, establishing a deal to suppress unflattering stories about Mr. Trump. “Once I received the money back from Mr. Trump, I would deposit it and no one would be the wiser,” Mr. Cohen said. He also held a news conference blasting Democrats, whom he and Mr. Trump blame for the case, and Mr. Cohen.

Persons: Michael D, Cohen, Donald J, Trump’s, ”, Stormy Daniels, Trump, Daniels, Melania, “, Todd Heisler, ” Mr, Karen McDougal, ” Cohen, Mr, Trump’s micromanagement, David Pecker, Keith Davidson, Daniels’s, ‘, ’, Allen Weisselberg, J.D, Vance of, Vance, Rick Scott of, Ken Paxton, Tommy Tuberville, Michael Cohen, — Organizations: ., New York Times, Playboy, National Enquirer, Republican, Prosecutors Locations: Manhattan, Lower Manhattan, Vance of Ohio, Rick Scott of Florida, Texas, Alabama

☆ Worry About Women Voters Drove Trump’s Hush-Money Decisions, Cohen Says
▼ + stars: | 2024-05-13 | by ( Michael Wilson | ) www.nytimes.com time to read: +1 min

The striking amount of time and energy that went into covering up Donald J. Trump’s alleged affairs in the run-up to the 2016 election, and the panic among his aides over their impact on female voters, returned front and center in the testimony of Michael D. Cohen on Monday. Mr. Cohen and a team at The National Enquirer spoke seemingly constantly about how to keep these women quiet, even as new accounts surfaced that required awkward conversations with the candidate. Accounting departments were engaged, front companies were created, and misleading invoices were produced, according to witnesses for the prosecution. The “Access Hollywood” tape, a recording of Mr. Trump talking about groping women with impunity, landed like a bombshell in 2016. Mr. Trump urged Mr. Cohen, who was in London, to reach out to his contacts in the news media.

Persons: Donald J, Trump’s, Michael D, Cohen, Trump, Mr, Chris Cuomo Organizations: National Enquirer, Mr, CNN, Trump Locations: London

☆ Despite reasons for Ford's latest EV sales surge, there's a lot going right at the automaker
▼ + stars: | 2024-05-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Lower pricing due to softening demand helped April electric vehicle sales at Ford more than double, even as the automaker was shifting resources away from the money-losing unit. Despite the volume increases, Ford Model e saw losses widen in Q1 to $1.32 billion on just $100 million in quarterly sales. Ford's hybrid sales in April rose almost 60% to 17,997 units. We believe a buyback would be a catalyst for Ford stock just like it has been for General Motors , which announced its repurchase plan back in November. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Michael Ward, Ford's, BEV, Ford, Ward, Jim Farley, Jim Cramer, That's, We're, Jim Cramer's, Jim, Danielle DeVries Organizations: Ford, Freedom Capital, Ford Model, ICE, Ford Blue, Ford Pro, General Motors, CNBC, New York Locations: EBIT

☆ Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street
▼ + stars: | 2024-05-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article NKLARIVNLCID Follow your favorite stocks CREATE FREE ACCOUNTR1T trucks on the assembly line at the Rivian electric vehicle plant in Normal on April 11, 2022. Stock Chart Icon Stock chart icon Performance of Rivian, Lucid and Nikola stocks over the past year. Rivian reported $7.86 billion in cash, cash equivalents, and short-term investments to end March, with more than $9 billion in total liquidity. Lucid, for its part, ended the first quarter with approximately $4.6 billion in cash, cash equivalents and investments, with total liquidity of approximately $5.03 billion. Unlike Rivian and Lucid, Nikola is exclusively focused on commercial vehicles rather than ones to retail customers.

Persons: Brian Cassella, Tesla, Itay Michaeli, Rivian, Rivian's, Peter Rawlinson, he's, Rawlinson, " Rawlinson, LSEG, Nikola, Thomas Okray, Okray, Derek Jenkins, David Swanson Organizations: Tribune, Service, Rivian, Lucid Group, Nikola Corp, Wall Street, Citi, Saudi, Public Investment Fund, Wall, Lucid, Los Angeles Auto Locations: Normal, Illinois, Georgia, Normal , Illinois, Los Angeles , California, U.S

☆ GM can regain market share in China after hitting 20-year low, executive says
▼ + stars: | 2024-05-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Reuss also touted the competitiveness of GM's Chinese joint venture partners such as Wuling Motors. GM's market share in China, including its joint ventures, has plummeted from roughly 15% as recently as 2015 to 8.6% last year — the first time it has dropped below 9% since 2003. DETROIT – General Motors believes it can regain market share in China after hitting a roughly 20-year low last year amid changing market conditions and increased domestic competition, GM President Mark Reuss said Thursday. The market declines have spurred questions on whether GM would exit China, as it has other underperforming markets in recent years. The automaker said Steve Hill, currently GM's vice president of global commercial operations, would succeed GM China President Julian Blissett, effective June 1.

Persons: Mark Reuss, Reuss, " Reuss, Mary Barra, Steve Hill, Julian Blissett Organizations: Hamtramck Assembly, Wuling Motors, GM, Buick, DETROIT –, Motors, JV, Financial Times, Car, U.S . GM's, Chevrolet, China Locations: Detroit, Hamtramck, Michigan, China, DETROIT, U.S . GM's U.S

☆ Ahead of retail earnings, here's what we know about the consumer so far
▼ + stars: | 2024-05-07 | by ( Robert Hum | ) www.cnbc.com time to read: +5 min

There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."

Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, —, Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine

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