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☆ Stellantis' CEO is out after a tumultuous year. Here's how things got so bad at the Jeep maker.
▼ + stars: | 2024-12-02 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Profit-generators Jeep and Ram posted the biggest volume losses, with Jeep ceding significant market share to competitors like Hyundai in the affordable-SUV segment. Dealers in September accused Tavares of "reckless short-term decision-making" that has had "devastating, yet entirely predictable, consequences in the US market." AdvertisementInvestor lawsuits and labor disputesTavares also leaves Stellantis in some legal disputes, including an investor lawsuit over the company's poor financial performance. A special committee has been formed to search for a new CEO, and that process is "well underway," Stellantis said in a Sunday statement. During the search period, Stellantis Chairman CFO John Elkann will lead an interim executive committee, the company said.

Persons: Carlos Tavares's, Tavares, Carlos Tavares, Elon Musk, Stellantis —, —, Carlos Ghosn, he'll, Ram, Stellantis, John Elkann Organizations: Stellantis, Dealers, Fiat Chrysler Automobiles, France's, North America Stellantis's, Jeep, Hyundai, United Auto Workers Locations: American, North America, Illinois

☆ Fidelity just boosted the value of its stake in Elon Musk's xAI by 70%
▼ + stars: | 2024-12-02 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +4 min

A Fidelity fund has boosted the value of its shares in xAI by 70%, according to filings. The fund also boosted the value of its shares in Musk-owned social media platform X by 32.4%. Fidelity increased the value of its shares in two Elon Musk-owned companies in October, social media platform X and startup xAI, according to filings. Last month, the fund valued its xAI shares at $44,152,362, or $11.96 each. Fidelity also bumped up the value of its X shares to $5,530,358 in October, according to the November filing.

Persons: Elon Musk's xAI, Elon Musk, xAI, Musk, Donald Trump's, Andreessen Horowitz, OpenAI Organizations: Elon, Fidelity, Growth, Qatar Investment Authority, Sequoia Capital, Wall Street Journal, Trump, firm's, Fund Locations: xAI, OpenAI

☆ Tesla cofounder says humanity is underperforming and could stand to 'crank up the intensity' like Elon Musk
▼ + stars: | 2024-12-02 | by ( Lauren Edmonds | Ana Altchek | ) www.businessinsider.com time to read: +4 min

Straubel's company, Redwood Materials, is on track to make $200 million in revenue this year. Tesla cofounder JB Straubel said he learned "a huge amount" from Elon Musk — and we could all benefit from the billionaire's work ethic. The CEO disclosed Redwood Materials' estimated revenue with The Wall Street Journal, saying his company will bring in about $200 million. AdvertisementStraubel launched Redwood Materials in 2017 to create a "remanufacturing economy," which refers to extracting raw materials from used batteries and returning them to production after processing them. Representatives for Redwood Materials did not respond to a request for comment from Business Insider.

Persons: JB Straubel, Elon Musk, Tesla, Straubel, Musk, Automobility, Joe Biden, Donald Trump's Organizations: Wall Street, Elon, Redwood, Materials, Journal's Tech, Straubel, Redwood Materials, Business, Tristar Media, McKinsey & Company Locations: Northern Nevada, United States, China

☆ An Indian automaker just unveiled 2 EVs priced around $25,000. Analysts say buy the stock
▼ + stars: | 2024-12-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Mahindra & Mahindra , one of India's largest automakers, last week unveiled two new electric vehicles priced around $25,000, challenging both domestic and international rivals in the growing Indian EV market. The Wall Street bank has a buy rating on Mahindra's stock, with a price target of 3,520.00 Indian rupees ($41), which points to 18% upside potential. MAHM-IN 1Y line Mahindra & Mahindra said the vehicles will have a range of up to 682 kilometers (424 miles) with the larger battery option. He has a price target of 3,420 rupees on the stock, which represents 15% upside and is also the median price target of all analysts covering the stock. Tata Motors , another large automaker, currently dominates India's small EV market, with about 70% market share.

Persons: Arvind Sharma, Citi's Sharma, Tesla, Motilal Oswal, Aniket Mhatre, Mhatre, Motilal, Kapil Singh Organizations: Mahindra, EV, Electric, Bank of America, National Stock Exchange, Motilal Oswal, Investment, Tata Motors, Korea's Hyundai Motors Locations: Chennai, India, China, U.S, Germany

☆ This is Tesla's last quarter of relative weakness, says Roth Capital's Craig Irwin
▼ + stars: | 2024-12-02 | 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 EmailThis is Tesla's last quarter of relative weakness, says Roth Capital's Craig IrwinCraig Irwin, Roth Capital, joins 'Squawk on the Street' to discuss Roth Capital's upgrade of Tesla, if Irwin's a big believer in the company's robotics arm, and much more.

Persons: Roth, Craig Irwin Craig Irwin

☆ Chinese automakers BYD, Leapmotor and Xiaomi smash annual delivery targets ahead of schedule
▼ + stars: | 2024-12-02 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +1 min

SINGAPORE — Chinese automakers BYD , Leapmotor , and Xiaomi have raced past their annual delivery targets a month ahead of schedule, underscoring their rapid growth and strong market demand as the year comes to a close. Electric vehicle juggernaut BYD delivered 504,003 passenger vehicles in November, up from last month's 500,526. The company has delivered 251,207 cars year-to-date, surpassing its 250,000 annual delivery target. Xiaomi, likewise, achieved the feat of surpassing its annual target of 100,000 deliveries midway through November. This month's deliveries brings its full year's deliveries to 194,933 — only slightly short of its full-year delivery target of 230,000 vehicles.

Persons: Xiaomi, BYD, Leapmotor, Zeekr Organizations: 21st Changchun International Automobile, SINGAPORE — Locations: Changchun, Jilin province, China, SINGAPORE

☆ I got a bad performance review at work and lost 15 pounds. It was stressful, but I learned how to avoid it in the future.
▼ + stars: | 2024-12-02 | by ( ) www.businessinsider.com time to read: +6 min

AdvertisementA poor performance review at work led to significant stress and weight loss for the author. Like, really, really stressed out, all because of a bad performance review. AdvertisementMy first poor performance reviewAfter years of working in tech, I received my first poor performance review. I continued to ask for supporting evidence for the poor performance review but never received a digestible answer. A bad performance review, which can obstruct impending promotions and team transfers at best and be job-threatening at worst, is often not standardized.

Persons: would've, —, I've, I'm, they've, Sandra Milosevic

☆ Middle Manager Hiring Has Plunged, and Those Jobs May Never Come Back
▼ + stars: | 2024-12-02 | by ( Aki Ito | ) www.businessinsider.com time to read: +9 min

But here's the thing: It's not just that tens of thousands of middle managers have lost their jobs. But hiring had plunged by 43% for middle managers and 57% for senior leaders. But it's unclear whether getting rid of middle managers actually made companies run more efficiently. But study after study found that when middle managers do their jobs right, they bolster performance more than either top executives or ground-level employees. Companies are already discovering that having few middle managers is placing an enormous strain on their operations.

Persons: they've, Mark Zuckerberg, Andy Jassy, Elon Musk, —, we've, I've, What's, they'd, They're, Rick, I'm, Zuckerberg, There's, they're, Zers, Aki Ito Organizations: Citi, Amazon, Revelio Labs, Supervisors, Data Technologies, Business Locations: Domino's

☆ NFL Week 13 Sunday review: Bills clinch playoff spot after historic QB statline in snowy conditions, Steelers tie NFL record
▼ + stars: | 2024-12-02 | by ( Ben Morse | ) edition.cnn.com time to read: +10 min

CNN —The 2024 NFL regular season is approaching its final quarter and that means wins become that much more important. He has now missed a career-high eight field goals this season and his 10 total missed kicks lead the NFL. Jackson continued his MVP-candidate season with 237 passing yards and two touchdowns as well as 79 yards on the ground. Bills clinch playoff spot in snowy conditions after historic QB statlineFootball under the lights and with snow on the field is a sight to behold. Steelers tie NFL record after high-scoring win over BengalsThe Pittsburgh Steelers continued their excellent season, tying an NFL record with their high-scoring victory over the Cincinnati Bengals on Sunday.

Persons: Jalen, Saquon Barkley, Justin Tucker, Tucker, he’s, Greg Fiume, ” Tucker, “, I’ve, Lamar Jackson, John Harbaugh, ’ I’m, ” Harbaugh, he’ll, Justin Tucker’s, ” Tucker's, Patrick Smith, Tucker’s, Jackson, Josh Allen, Allen, Amari Cooper, Cooper – Allen, Jahmyr Gibbs, Allen Rice, Hailee Steinfeld, ” Allen, Christian McCaffrey, Kyle Shanahan, McCaffrey, Timothy T Ludwig, Getty, Achilles, Brock Purdy –, –, Isaac Guerendo, San Francisco, Russell Wilson, Najee Harris, Mike Tomlin’s, Burrow, Jeff Dean, Joe Burrow, ” Burrow Organizations: CNN, NFL, Eagles, Ravens, Philadelphia Eagles, Baltimore Ravens, T, –, Getty, Bills, Buffalo, Sunday, Football, San Francisco 49ers, Highmark, Detroit Lions, Super, AFC East, Kansas City Chiefs, AFC, NBC, 49ers, Bay Area, San, NFL.com, Steelers, Bengals, Pittsburgh Steelers, Cincinnati Bengals, Pittsburgh, Paycor, Dallas Cowboys, Cincinnati, Los Angeles Chargers, Atlanta Falcons Pittsburgh Steelers, Cincinnati Bengals Houston Texans, Jacksonville Jaguars Arizona Cardinals, Minnesota Vikings Indianapolis Colts, New England Patriots Seattle Seahawks, New York Jets Tennessee Titans, Washington, Tampa Bay Buccaneers, Carolina Panthers Los Angeles Rams, New Orleans Saints Philadelphia Eagles, Baltimore Ravens San Francisco 49ers, Buffalo Bills Locations: Baltimore, Maryland, San Francisco, Cincinnati

☆ ‘Brain rot’ is Oxford’s word of the year
▼ + stars: | 2024-12-02 | by ( Rosa Rahimi | ) edition.cnn.com time to read: +3 min

“Brain rot” took the title in a vote in which more than 37,000 people participated, as well as public commentary and analysis of OUP’s language data. “While England endeavours to cure the potato rot,” wrote Thoreau, “will not any endeavour to cure the brain-rot – which prevails so much more widely and fatally?”All these years later, it seems brain rot is well and truly established. “’Brain rot’ speaks to one of the perceived dangers of virtual life, and how we are using our free time,” said Casper Grathwohl, president of Oxford Languages, in Monday’s announcement. “I also find it fascinating that the word ‘brain rot’ has been adopted by Gen Z and Gen Alpha… These communities have amplified the expression through social media channels, the very place said to cause ‘brain rot,’” he added. The word, which means being reserved in appearance or behavior, had already been named word of the year by Dictionary.com last week.

Persons: London CNN —, ”, Henry David Thoreau, “ Walden ”, Thoreau, “, Casper Grathwohl, Gen Z, Alpha, Dictionary.com, “ rizz Organizations: London CNN, Oxford University Press, Oxford English, OUP, United States, Oxford Locations: England, United

☆ Biden Opens the Only Trip of His Presidency to Sub-Saharan Africa
▼ + stars: | 2024-12-02 | by ( Zolan Kanno-Youngs | Peter Baker | ) www.nytimes.com time to read: 1 min

President Biden arrived on Monday in Cape Verde, an island nation off the coast of Africa, for the first stop of the only trip to sub-Saharan Africa of his presidency, a journey shadowed by his decision to pardon his son of tax and gun convictions. Air Force One touched down for refueling at Amílcar Cabral International Airport on the island of Sal on a bright, sunny morning, before continuing on to Angola, where the president will work to bolster American ties. While waiting for the plane to be readied for the next leg of the flight, Mr. Biden met at an airport lounge with Ulisses Correia e Silva, the prime minister of Cabo Verde. The president is scheduled to arrive by evening in Luanda, the Angolan capital, where he will visit a slavery museum and highlight a new $1 billion rail corridor as a primary example of his administration’s plan to help lift the region’s economy.

Persons: Biden, Ulisses Correia e Silva Organizations: Air Force, Amílcar Locations: Cape Verde, Africa, Saharan Africa, Sal, Angola, Cabo Verde, Luanda, Angolan

☆ Indonesian tycoons are trying to build a new city, complete with a port, a theme park, and an F1 racetrack
▼ + stars: | 2024-12-02 | by ( Katherine Tangalakis-Lippert | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

The city, PIK 2, is worth about $16 billion and is intended to drive tourism to the area. Bloomberg reported the developers are in touch with partners in China and Singapore to build a port at PIK 2. Indonesian business tycoons are moving ahead with an ambitious real estate project: building a new city in North Jakarta to boost tourism. The publicly traded parent company behind the project — PT Pantai Indah Kapuk Dua — has a $16 billion market capitalization. AdvertisementRepresentatives for Kusuma at PT Pantai Indah Kapuk Dua and Agung Sedayu Group did not respond to requests for comment from Business Insider.

Persons: Agung, Sugianto Kusuma —, Salim, Anthoni Salim, Agung Sedayu, Kusuma, It's, Joko Widodo Organizations: Bloomberg, Salim Group, PT, Hatta, Forbes, Nusantara, Kusuma, Agung Sedayu, Business Locations: North Jakarta, The, China, Singapore, Agung Sedayu, Kapuk, Soekarno, Indonesia, Jakarta, East Kalimantan, Borneo, Kapuk Dua, Agung

☆ Trends of favoring riskier assets and multiple expansion will continue, says Schwab's Omar Aguilar
▼ + stars: | 2024-12-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrends of favoring riskier assets and multiple expansion will continue, says Schwab's Omar AguilarOmar Aguilar, Schwab Asset Management CEO & CIO, joins 'Money Movers' to discuss Aguilar's expectations for equities from Monday's levels, which stocks will lead the equity move higher, and much more.

Persons: Schwab's Omar Aguilar Omar Aguilar Organizations: Schwab Asset Management

☆ TikTok Shop's Black Friday drove $100 million in US sales and users viewed over 30,000 livestreams
▼ + stars: | 2024-12-02 | by ( Dan Whateley | ) www.businessinsider.com time to read: +3 min

AdvertisementTikTok Shop saw over $100 million in single-day sales on Black Friday, a spokesperson told BI. On Friday, the company drove over $100 million in US sales on its e-commerce platform Shop, a company spokesperson told Business Insider. Other top sellers on TikTok Shop's Black Friday were Tarte Cosmetics and lifestyle retailer Miniso, they added. Last year, across the full US holiday shopping season, Amazon drove around $104 billion in US holiday sales, while Walmart hit about $20 billion in US e-commerce sales during that holiday period, according to eMarketer estimates. TikTok Shop featured holiday discounts from brands like electronics maker Phillips, Fenty Beauty, and Maybelline NY, for example.

Persons: TikTok, Stormi Steele, Nico Le Bourgeois, Le Bourgeois, Tarte, Phillips, TikTok's Organizations: Amazon, Adobe Analytics, Walmart, Congress Locations: China

☆ Trump defense pick Pete Hegseth faces new media report on alleged alcohol abuse, sexual impropriety
▼ + stars: | 2024-12-02 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

President-elect Donald Trump's nominee to be Secretary of Defense Pete Hegseth leaves the Russell Senate Office Building on November 21, 2024 in Washington, DC. Pete Hegseth, the already embattled choice by President-elect Donald Trump to lead the Pentagon, faces a new magazine report detailing his alleged alcohol abuse, sexual impropriety, and mismanagement while running two veterans' non-profit groups. CNBC has not seen the whistleblower report, nor a separate letter of complaint detailed by the magazine. in 2016 in part due to "concerns about his mismanagement and abuse of alcohol on the job," the magazine said, citing what it called three knowledgeable sources, one of whom contributed to the whistleblower report. Trump's transition team did not immediately respond to a request for comment from CNBC on The New Yorker article.

Persons: Donald Trump's, Pete Hegseth, Donald Trump, Hegseth, Jane Mayer, Timothy Parlatore, Parlatore, We're, Hegseth's Organizations: Senate, Pentagon, The New, Veterans, Yorker, CNBC, NBC News Locations: Washington , DC, America, Louisiana

Learn moreWhen it comes to winter coats, no one does outerwear like Canada Goose. We're also tracking all the best Cyber Monday deals across the internet, for more clothing deals to savings on tech and entertainment. Shop all of the best Canada Goose Black Friday deals from retailers like Shopbop, Farfetch, and GILT. The best Canada Goose Cyber Monday dealsFAQs on Canada Goose Cyber Monday dealsWhen does the sale start and end? The experience led him to list Canada Goose in our guide to the best parkas for men.

Persons: who's, Amir Ismael Organizations: Business, Canada Locations: Canada

☆ Calls of the Day: Tesla and Block
▼ + stars: | 2024-12-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalls of the Day: Tesla and BlockThe Investment Committee debate the latest Calls of the Day.

☆ The next S&P 500 break to the upside would be a target of 6,195, says JPMorgan's Jason Hunter
▼ + stars: | 2024-12-02 | 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 EmailThe next S&P 500 break to the upside would be a target of 6,195, says JPMorgan's Jason HunterJason Hunter, JPMorgan head of technical strategy, joins 'Closing Bell' to discuss the technical setup in the market and how to position.

Persons: JPMorgan's Jason Hunter Jason Hunter, JPMorgan

☆ Market impact of additional Trump tariffs on China will be relatively muted: CICC Research
▼ + stars: | 2024-12-02 | 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 EmailMarket impact of additional Trump tariffs on China will be relatively muted: CICC ResearchKevin Liu of CICC Research says that potential further 10-20% tariffs on China by the U.S. are already priced in by the market and that this would affect China's GDP by less than 0.5%.

Persons: Kevin Liu, CICC Organizations: CICC Research Locations: China, U.S

☆ 'Dune: Prophecy' episode 3 reveals Tula Harkonnen's shocking backstory. Emma Canning breaks down that devastating twist.
▼ + stars: | 2024-12-02 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +8 min

AdvertisementEmma Canning plays young Tula Harkonnen in "Dune: Prophecy." AdvertisementEmma Canning and Milo Callaghan as Tula Harkonnen and Orry Atreides in episode three of "Dune: Prophecy." Milo Callaghan and Emma Canning and Orry and Tula in episode three of "Dune: Prophecy." Archie Barnes and Emma Canning in episode three of "Dune: Prophecy." "Dune: Prophecy" airs Sunday nights at 9 p.m. ET/6 p.m. PT on HBO, and is streaming on Max.

Persons: Emma Canning, they've, Canning, Mothers, Griffin, Valya, Vorian, It's, Tula, Olivia Williams, Orry, Williams, —, Milo Callaghan, Tula Harkonnen, Attila Szvacsek, she's, He's, he's, Richard Lewis, Alison Schapker, Milo, Richard ?, They're, Albert, Archie Barnes, Lila, didn't, Albert doesn't, Olivia Williams didn't, Olivia, She'd Organizations: Business, HBO, Max Locations: Tula, HBO Tula, Orry, Budapest

☆ How AARP is empowering a multigenerational workforce for AI
▼ + stars: | 2024-12-02 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +6 min

As the chief human resources officer at AARP, Marjorie Powell devotes much of her professional energy to meeting the needs of the multigenerational workforce. Related Video "We've been using AI all along." How LinkedIn is using AI, according to VP of Marketing Minjae Ormes. AdvertisementHow did AARP handle the introduction of AI in its workforce? Many employers are using AI tools in hiring, but there are concerns about potential bias.

Persons: Marjorie Powell, AARP's, Powell, we're, you've, boomers, I've, I'm Organizations: AARP, Microsoft, Companies, Tech Locations: AARP's

View at Saatva What we like Check mark icon A check mark. Zoned supportCheck mark icon A check mark. Great heat dissipationCheck mark icon A check mark. Good bounceCheck mark icon A check mark. Our favorite Saatva mattress is the Saatva Classic, which is available in three firmness options and features lumbar support.

Persons: we've, Long, Saatva Organizations: Business, Saatva Locations: Saatva, Copenhagen, Sydney, Amalfi

☆ Randy Moss: NFL legend asks for ‘prayers’ while revealing he was ‘battling something internally’
▼ + stars: | 2024-12-02 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

Moss playing for the San Francisco 49ers on January 20, 2013, in Atlanta, Georgia. God bless you all and thanks for the prayers.”Moss did not reveal any details about what he was battling. The NFL legend played 14 seasons in the league, most notably with the Minnesota Vikings and the New England Patriots. He is considered one of the greatest wide receivers in the sport’s history, being named a first-team All-Pro four times and leading the NFL in receiving touchdowns on five occasions. Over his stellar career, Moss had 15,292 receiving yards and 156 touchdowns.

Persons: Randy Moss, ”, he’s, ” Moss, “, Moss, Kevin C, Cox Organizations: CNN, NFL, Pro Football Hall of Fame, San Francisco 49ers, Minnesota Vikings, New England Patriots Locations: Atlanta , Georgia

☆ Margot Robbie thought she’d ‘go to jail’ for slapping Leonardo DiCaprio during ‘Wolf of Wall Street’ audition
▼ + stars: | 2024-12-02 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +2 min

CNN —Margot Robbie made a creative decision to slap Leonardo DiCaprio during her “Wolf of Wall Street” audition instead of kissing him, according to the “Barbie” star. Luckily, Robbie said, DiCaprio and the film’s director Martin Scorsese loved it and she walked out of that audition not only to eventually land the role, but shackle-free. “It was not in the script,” Robbie said of the slap, referring to the “throwing the water in the face” scene that she was reading with DiCaprio during her audition. Needless to say, Robbie never went to jail for slapping DiCaprio. Instead, she went on to have a still-thriving career in Hollywood as an Oscar-nominated actor and producer.

Persons: Margot Robbie, Leonardo DiCaprio, Wolf, Barbie, Robbie, DiCaprio, Martin Scorsese, ” Robbie, they’d, “, Scorsese, “ you’re, DiCaprio’s Organizations: CNN Locations: “ The, Hollywood

☆ New findings from Sam Altman's basic-income study challenge one of the main arguments against the idea
▼ + stars: | 2024-12-02 | by ( Kenneth Niemeyer | Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

New findings from OpenAI CEO Sam Altman's basic-income study found that recipients valued work more after receiving no-strings-attached recurring monthly payments, challenging a long-held argument against such programs. Altman's basic-income study, which published initial findings in July, was one of the largest of its kind. Critics say basic income programs — whether guaranteed or universal — won't be effective because they encourage laziness and discourage work. AdvertisementBroockman said the study's results can offer insights into how future basic income programs can be successful. AdvertisementConservative lawmakers in places like Texas, South Dakota, and Iowa have moved to block basic income programs, with much of the opposition coming from fears of creeping "socialism."

Persons: Sam Altman's, Cash, David Broockman, Altman, Elon Musk, Elizabeth Rhodes, Rhodes, They're, Broockman Organizations: Universal Locations: Texas, South Dakota, Iowa

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