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So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. “We’re quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range,” he told CNBC on Thursday. Gjaja’s comments came a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. Gjaja said the decision wasn’t taken lightly, especially the cancellation of the upcoming three-row vehicle, which Ford CEO Jim Farley and other executives had been touting as a game changer for several years. He said the Ford, in part, developed the skunkworks team to prove that Ford can compete against the Chinese automakers.
Persons: Marin Gjaja, We’re, , Warren Buffett, Gjaja, Jim Farley, ” Farley, Ford, ” BofA’s John Murphy, John Lawler, Lawler, ” Gjaja, ” There’s, we’ve, ” Ford, Thursday, Organizations: DETROIT, Ford, CNBC, North America, EV, , ICE, Wall Street, GM, General Motors Locations: U.S, Europe, North, California, China,
In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. "We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday. Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.
Persons: Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland Organizations: Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors Locations: Glendale , California, U.S, Europe, North, California, China
The new penthouse owner arrived at the stately Galleria building in Manhattan practically unnoticed, as if standing on a dark stage just before the curtain is raised. “I think I heard it from my neighbor, who heard it from the concierge,” said Emma Ruth Yulo-Kitiyakara, 78, a former resident in the building. David Copperfield was moving in. Years later, the building’s residents would be well aware — painfully aware — of the world-famous magician’s sprawling, four-floor penthouse apartment. It seemed to transform before their eyes from a showpiece of great wealth to an embarrassing eyesore to a leaky health hazard.
Persons: , Emma Ruth Yulo, David Copperfield Locations: Manhattan,
Read previewShould Taylor Swift sue Donald Trump or just shake it off? "Swift could sue Trump and those who misappropriated her likeness by creating AI-generated images," Neama Rahmani, the president and a cofounder of West Coast Trial Lawyers, said. "So I wouldn't be surprised if they send the Trump campaign a cease-and-desist letter at a minimum," Rahmani said. Firmly in the "sue Trump" camp is James Walker Jr., a veteran entertainment attorney from Atlanta who reps the estate of Isaac Hayes. Swift would need to prove that the Trump campaign sent these images out with intent to deceive voters."
Persons: , Taylor Swift, Donald Trump, Trump, Swift, Taylor, deepfakes, Scarlett Johansson, lawyered, Rahmani, Harry Surden, Surden, Harris, James Walker Jr, Isaac Hayes, Walker, Aretha Franklin, I've, Paul Michael Wilson, Wilson, Jessica Litman, Litman, Mark Bartholomew, Bartholomew, Juan Perla, Curtis, Mallet, Prevost, Perla, Celine Dion, Vance, Johansson Organizations: Service, Business, Trump, West, Trial, University of Colorado, Biden, Walker & Associates, University of Michigan, University at Buffalo, ELVIS, Colt Locations: University of Colorado Boulder, Atlanta, Hayes, Tennessee, York
2025 GMC Terrain Elevation GMDETROIT — General Motors on Monday revealed redesigned versions of its entry-level GMC Terrain crossover, including a new standard "Elevation" model. It also has a new interior with 26 inches of screens, including a 15-inch center touchscreen and an 11-inch driver information cluster. 2025 GMC Terrain GMWith the increase in standard features, GM also is simplifying the model lineup for the Terrain, combining its "SLE" and "SLT" entry-level trims into Elevation. GM declined to disclose pricing for the redesigned Terrain, which is expected to begin arriving in GMC showrooms late this year. 2025-2026 GMC Terrain GM
Organizations: DETROIT —, Motors, Apple, Android, GMC, GM
Morgan Stanley's preference for defensive quality stocks has only increased since June, even as major U.S. indexes have continued to reach new highs. Wilson highlighted his stock screen of quality and defensive names, which are long ideas with overweight ratings from the firm's analysts that are also in the top 1,000 universe by market cap. Take a look at some of Morgan Stanley's favorite names below: AbbVie made the cut as one of the firm's top quality and defensive stocks. Analysts surveyed by FactSet have a price target on AbbVie shares that suggest just 3.2% upside from its latest close. Other Morgan Stanley defensive and quality favorites include consumer discretionary names Walmart and Lowe's .
Persons: Morgan, Michael Wilson, Wilson, Morgan Stanley's, AbbVie, Northrop Grumman, Morgan Stanley, Kristine Liwag, Brian Nowak, Meta Organizations: Public Service Enterprise Group, Northrop Grumman, Federal, Aerospace, U.S, Walmart
DETROIT — Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan. It is produced alongside the Jeep Wagoneer and Grand Wagoneer at the Warren Truck Assembly Plant, located near Detroit. The current Ram 1500, which was recently updated for the 2025 model year, is produced at a nearby plant. “With the introduction of the new Ram 1500, production of the Ram 1500 Classic at the Warren [Michigan] Truck Assembly Plant will come to an end later this year,” the company said in an emailed statement. The discontinuation of the Ram 1500 “Classic” vehicle is not unexpected, but the company has not announced a vehicle to replace the truck.
Persons: Ram, Chris Feuell, Carlos Tavares Organizations: DETROIT, Warren, Assembly, United Auto Workers union, CNBC, Fiat Chrysler, France’s PSA Groupe Locations: Michigan, Detroit, Warren
Rivian Automotive beat Wall Street's top- and bottom-line expectations for the second quarter as the electric vehicle maker continues to take costs out of its business. Through the first six months of the year Rivian produced about 23,600 vehicles, including only 9,162 during the second quarter due to downtime at the company's plant to retool and reduce costs. Shares of Rivian are off 37% this year amid slower-than-expected demand for EVs as well as Rivian's significant cash burn. Rivian's expenditures through the first half of the year were $537 million, including $283 million during the second quarter. Rivian ended the second quarter with $9.18 billion in total liquidity, including $7.87 billion in cash, cash equivalents and short-term investments.
Persons: Rivian, RJ Scaringe Organizations: Rivian Automotive, LSEG, Volkswagen
Officials are relying on multiple streams of intelligence, and there are divisions among national security officials on how and when Iran’s response might unfold. The relative uncertainty has left the Biden administration in a defensive crouch as it tries to rally allies and pressure Iran not to escalate tensions. The extent of the United States’ further involvement in the war largely depends on how exactly Iran responds to Haniyeh’s death. US destroyers helped shoot down ballistic missiles and drones launched by Iran at Israel in April. Biden and Vice President Kamala Harris also met with the administration’s national security team in the White House Situation Room later Monday afternoon.
Persons: Ismail Haniyeh’s, crouch, Haniyeh –, Fu’ad Shukr, Israel, Majdal Shams, United States ’, Cole, Biden, , Kamala Harris, Matthew Miller, Miller, Jomana Karadsheh, Michael Conte, Alex Marquardt, Zahid Mahmood Organizations: Washington CNN, Washington, CNN, Biden, United, US Central Command, State Department, US, Command Locations: Tehran, Iran, Washington, Israel, Lebanon, Gaza, Hezbollah, United States, Majdal, Golan, Gulf, Oman, Jordanian, Syria
Jenna Ellis, right, and Sydney Powell, attorneys for President Donald Trump, conduct a news conference at the Republican National Committee on lawsuits regarding the outcome of the 2020 presidential election on Thursday, November 19, 2020. Former Trump campaign attorney Jenna Ellis has agreed to cooperate with prosecutors in Arizona in their criminal cases against so-called fake electors and others who tried to reverse the 2020 election loss of former President Donald Trump, state Attorney General Kris Mayes said Monday. "I am grateful to Ms. Ellis for her cooperation with our investigation and prosecution." "Her insights are invaluable and will greatly aid the State in proving its case in court," the attorney general said. The remaining defendants are Kelli Ward, Tyler Bowyer, Nancy Cottle, Jacob Hoffman, Anthony Kern, James Lamon, Robert Montgomery, Samuel Moorhead, Lorraine Pellegrino, Gregory Safsten, and Michael Ward.
Persons: Jenna Ellis, Sydney Powell, Donald Trump, Kris Mayes, Ellis, Mayes, Rudy Giuliani, Joe Biden, Mark Meadows, John Eastman, Boris Epshteyn, Christina Bobb, Mike Roman, Trump, Kelli Ward, Tyler Bowyer, Nancy Cottle, Jacob Hoffman, Anthony Kern, James Lamon, Robert Montgomery, Samuel Moorhead, Lorraine Pellegrino, Gregory Safsten, Michael Ward Organizations: Republican National Committee, Trump, Prosecutors, New, New York City, Trump White House Locations: Arizona, American, New York
Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.
Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit
Now, at 72 and 73, the couple — who work together as relationship counselors — has 52 years of marriage behind them. This story is available exclusively to Business Insider subscribers. "We called it our 'power struggle phase,'" she told Business Insider. She said her bond with her husband strengthened after he told her about his strained relationship with his mother. Do you have an interesting story about your relationship that you'd like to share with Business Insider?
Persons: , Barbara Grossman, Michael Grossman, Dr, Grossman, Michael, togetherness Grossman Organizations: Service, Business
The 79-year-old man sat silently in the back of the courtroom on Long Island, 20 miles from his home in Queens. Here the man, Robin Davis, settled in for what promised to be a strange trial in this mostly empty room. His lawsuit centered on the actions of a person long dead. His adversaries were Long Island bureaucrats who had never heard of that person or his reported misdeeds. Mr. Davis had long been widely known for his philanthropy on behalf of one cause: fighting child abuse.
Persons: Merrill Lynch, Robin Davis, Long, Davis, Eisenhower Organizations: Bank of America Locations: Queens, New York City
In this article GM Follow your favorite stocks CREATE FREE ACCOUNT2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package. The so-called "godfather" of the modern Corvette retired roughly a week after helping to introduce the new 2025 Corvette ZR1 — the most powerful and fastest version of the car ever produced. Corvette spinoff and SUVWall Street analysts have said GM could better leverage the Corvette brand by expanding models and, to an extent, sales. Tadge Juechter, retiring Corvette executive chief engineer, during the reveal of the 2025 Chevy Corvette ZR1 on July 25, 2024. 2020 Chevrolet Corvette GM
Persons: Juechter, Mark Reuss, Tadge Juechter, Reuss, Ray, Motors, there's, Morgan Stanley, Adam Jonas, you've, that's, I've, Ferrari, I'm Organizations: General Motors, Detroit automaker, Corvette, CNBC, Electric Corvette GM, Chevrolet, Motors, Porsche, Lamborghini Locations: Bowling Green , Kentucky
A federal appeals court further narrowed the scope of the 1965 Voting Rights Act, ruling that members of separate minority groups cannot join together to claim that a political map has been drawn to dilute their voting power. The 12-to-6 ruling on Thursday by the full Fifth Circuit Court of Appeals overturned almost four decades of legal precedent, as well as an earlier ruling by a three-judge panel of the same appeals court. It applies only in Louisiana, Mississippi and Texas, the three states where the court has jurisdiction, but the decision has national implications and may be appealed to the Supreme Court. The redrawn boundaries reduced their combined share of the district’s electorate to 38 percent, and a lawsuit claimed that doing so violated Section Two of the Voting Rights Act, which prohibits drawing maps that dilute minority voting power. A lower court and the three-judge appellate panel both ruled that the new map was a clear violation of the law.
Persons: Organizations: Fifth, Supreme, Circuit Locations: Louisiana , Mississippi, Texas, Galveston County , Texas, Black
CNN —Major League Baseball (MLB) players often have long journeys to link up with their new squads when they are traded. The 30-year-old infielder was traded from the Chicago White Sox to the Kansas City Royals, three hours before the two teams were scheduled to play each other on Tuesday. “I’m just happy to be on a great team. The win moved Kansas City to 60-49 on the season as it seeks to remain in postseason contention. Meanwhile, the White Sox remain rooted to the bottom of the American League with a 27-84 record, the worst in MLB.
Persons: Paul DeJong, I’m, I’ve, ” DeJong, , DeJong, Joe Robbins, Rosado, He’s, , Michael Wacha Organizations: CNN — Major League Baseball, Chicago White Sox, Kansas City Royals, Royals, White Sox, MLB, Kansas City, American League Locations: Kansas
After President Joe Biden proved the claim wrong on Thursday by securing the release of Gershkovich and others in a multi-country prisoner exchange, Trump posted a series of skeptical questions on social media. Among other things, Trump wrote: “Are we releasing murderers, killers, or thugs? FactCheck.org debunked this Trump claim about his record on securing the release of American prisoners abroad when he previously made it in 2022. Trump acknowledged at the time that this was a prisoner exchange, telling reporters in 2019: “Yeah, we’re very happy to have our hostage back. And there was a one-on-one hostage swap.”Federal prosecutors also dropped charges against the Iranian scientist’s two co-defendants soon after the prisoner exchange.
Persons: Donald Trump, Evan Gershkovich, Joe Biden, Gershkovich, Trump, , Jake Sullivan, FactCheck.org, , Xiyue Wang, Kevin King, Timothy Weeks, Michael White, Sandra Loli, Mikael Gidada, Turkey Trump, Recep Tayyip Erdogan, Andrew Brunson, Erdogan, Brunson Organizations: Washington CNN —, Wall Street, Biden White House, Trump, Republican, Princeton University, Navy Locations: Iran, Afghanistan, Yemen, Oman, Turkey, Israel, Turkish
Shares of Carvana jumped as much as 14% during after-hours trading Wednesday as the company topped Wall Street's expectations for the second quarter and disclosed expectations for record adjusted earnings of at least $1 billion for 2024. The company's previous guidance for the year included a "sequential increase in adjusted EBITDA" for the second half of the year, but did not supply a dollar amount. If Carvana meets its 2024 earnings target, it would mark the company's third annual EDBITDA profit, including 2023's record of $339 million. Adjusted EBITDA was $355 million and adjusted EBITDA margin was 10.4%, both company records. The second-quarter results continue a massive turnaround for Carvana following Wall Street fears of bankruptcy for the company in early 2022.
Persons: Carvana, Ernie Garcia, Mark Jenkins Locations: Daly City , California
U.S. Vice President Kamala Harris speaks during an NCAA championship teams celebration on the South Lawn of the White House in Washington, D.C., on July 22, 2024. The United Auto Workers on Wednesday endorsed Vice President Kamala Harris over Republican presidential nominee and former President Donald Trump. UAW President Shawn Fain has been outspoken against Trump. "We can put a billionaire back in office who stands against everything our union stands for, or we can elect Kamala Harris who will stand shoulder to shoulder with us in our war on corporate greed." Fain and Trump have been at odds – publicly trading remarks – since the union leader was elected early last year.
Persons: Kamala Harris, Donald Trump, Shawn Fain, Joe Biden, Trump, Harris, Fain, Biden, Trump . Fain, , that's Organizations: NCAA, White, Washington , D.C, United Auto Workers, Republican, UAW, Trump ., Democratic, Trump, Republican National Convention Locations: Washington ,, Detroit
DETROIT — Ford Motor has redesigned its small Maverick pickup truck, adding more technology, new performance and hybrid options to the vehicle. Updates to the 2025 Ford Maverick include refreshed exterior and interior styling, including a 13.2-inch center touchscreen; an all-wheel-drive hybrid option; and connectivity features such as a 5G modem and wireless Apple CarPlay and Android Auto. The Ford entry-level pickup has been a surprise hit for the company since its introduction in 2021. The Maverick is drawing new customers to the Ford brand — many of whom are buying their first-ever new vehicle, the company said. Additionally, Ford said 80% of Maverick owners did not own a truck as their previous vehicle.
Persons: Ford, John Emmert Organizations: DETROIT, Ford, Apple, Android, CNBC Locations: North America
Washington CNN —The White House on Wednesday said reports of the assassination of a Hamas political leader in Iran “don’t help with the temperature going down,” while repeating calls for a ceasefire deal that would see the release of hostages held by Hamas. “These reports over the last 24-48 hours certainly don’t help with the temperature going down. I’m not going to be Pollyannaish about it; we’re obviously concerned about escalation,” White House national security communications adviser John Kirby told reporters during the White House press briefing. In both conversations, according to the State Department, the officials emphasized the need for a ceasefire in Gaza. “It’s too soon to know what impact any of this is going to have on the ceasefire deal,” Kirby said at the briefing.
Persons: I’m, we’re, John Kirby, Kirby, Biden, Antony Blinken, Aaron David Miller, Haniyeh, “ Blinken, ” Miller, , , Blinken, Israel, Mohammed bin Abdulrahman, Thani, “ It’s, ” Kirby, Hezbollah’s, Fu’ad Shukr, Benjamin Netanyahu, Netanyahu, Joe Biden, Netanyahu’s, Ayatollah Ali Khamenei, John Kirby’s, CNN’s Abeer Salman, Jennifer Handler, Niamh Kennedy Organizations: Washington CNN, House, White House, senior State Department, CNN, State Department, Qatari, Haniyeh, Hezbollah, Hamas, United, Zionist Locations: Iran, Tehran, Singapore, Israel, Qatar, Jordan, Gaza, Mohammed bin Abdulrahman Al, Egypt, United States, Golan, Beirut, Washington
CEO of auto giant Stellantis Carlos Tavares speaks to journalists during a joint media event by Stellantis and Leapmotor in Hangzhou, in eastern China's Zhejiang province on May 14, 2024. DETROIT – Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as the company attempts to reduce costs and boost profits. The company, which reported disappointing first-half results last week, said if not enough employees participate in the buyout program, involuntary terminations could follow. Stellantis confirmed the buyout program, which was first by Automotive News, early Tuesday afternoon. Stellantis last conducted a voluntary buyout program in November, offering the deals to roughly half of its U.S. white-collar employees.
Persons: Carlos Tavares, headcount, Stellantis, excessiveness, Tavares Organizations: DETROIT –, U.S, Automotive News, Fiat Chrysler, France's PSA Groupe, CNBC Locations: Leapmotor, Hangzhou, China's Zhejiang province, Italy
Stock Chart Icon Stock chart icon Ford, GM and Stellantis shares"Investors who think autos can outperform on + earnings beats and buybacks should think again. GMFor GM, investors balked at pullbacks in growth businesses, waning upside during the second half of the year, and fear that the automaker's earnings power has peaked, according to Wall Street analysts. Selling more EVs is one reason that GM, which has raised its annual financial guidance twice this year, expects the second half to underperform the first. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. StellantisTransatlantic automaker Stellantis arguably faces the most challenging second half of the year, particularly regarding its U.S. operations.
Persons: Ram, Joe Raedle, Morgan Stanley, Adam Jonas, Jonas, Stellantis, GM's, Mary Barra, Ford, Ford doesn't, Joseph Spak, Bill Pugliano, John Lawler, Lawler, Carlos Tavares, Remo Casilli Organizations: Dodge Chrysler, Getty, DETROIT, Ford, Detroit automakers, GM, Wall Street, Analysts, Street, UBS, Ford Dearborn Plant, Ford Pro, Transatlantic, Stellantis Locations: Miami , Florida, U.S, China, Dearborn , Michigan, Atessa, Italy
Katie Ledecky: The rise of an Olympic great
  + stars: | 2024-07-27 | by ( Aimee Lewis | ) edition.cnn.com   time to read: +22 min
The teenager who achieved the unthinkableIn the dining hall of London’s Olympic Village, a few hours before her first Olympic final, Ledecky is eating lunch on her own. Katie Ledecky poses on the podium after winning gold in the women's 800m freestyle final at the London 2012 Olympics. Katie Ledecky and her mother Mary Gen Ledecky during the 2023 Golden Goggle Awards on November 19, 2023 in Los Angeles, California. Katie Ledecky swimming to gold in a new world record of 15.25:48 in the women's 1500m freestyle final on August 4, 2015 in Kazan, Russia. Katie Ledecky celebates after she broke the world record to win the women's 800m freestyle final at the Rio 2016 Olympic Games.
Persons: Michael Ledecky, Katie, hasn’t, , , Katie Ledecky, ” Michael Ledecky, Sarah Stier, ” Russell Mark, George, , that’s, Prince William, Catherine, Rebecca Adlington, Lotte Friis, Little, ” Prince William, Adam Pretty, Adlington, Ledecky, Becky, Michael, musing, Fabrice Coffrini, ’ ”, hadn’t, Al Bello, athletically, Michael Phelps, ” Bruce Gemmell, didn’t, Gemmell, Bruce Gemmell, Joe Scarnici, she’s, Michael Jordan, ” ‘, Mark, ” Gemmell, “ It’s, Mary Gen Ledecky, Kevork Djansezian, David, Mary Gen, Jon, Streeter Lecka, Edward Hagan, Kathleen, Berta, Albert Einstein, Jaromir “ Jerry ” Ledecky, d’état, doesn’t, Yuri Suguiyama, Michael Phelps ’, Andrew Nesty, ominously, ” Ledecky, “ She’s, Rushmore, She’s, Joe Biden, Katie Ledecky celebates, Odd Andersen, Ariarne Titmus, Summer McIntosh, wasn’t, It’s Organizations: CNN, Ivy League, CNN Sport, Antonio, London Aquatics Centre, Briton, Games, Getty, London Games, Olympic, London, Phillips, New York Islanders, Harvard, Stanford, Silver Star, Polytechnic Institute of Brooklyn, Rutgers, Tokyo Olympics, Rio Games, Rio Locations: San Antonio , Texas, Bethesda , Maryland, USA, AFP, Irvine , California, American, Maryland, Los Angeles , California, Harvard, Tokyo, Kazan, Russia, Woolaston , North Dakota, America, Czechoslovakia, New York, eureka, Gainesville , Florida, Paris, Indianapolis
In an average year, she said, the nonprofit Faith in Florida, where she serves as democracy director, used to add 12,000 new voters to the state’s rolls. These days, Faith in Florida canvassers no longer help would-be voters fill out registration forms. Instead, they hand out slips of paper with a QR code that links to the state’s online registration website. And it’s not just small-time civic groups that are affected: The Florida chapter of the League of Women Voters has scaled back its trademark voter registration drives, too. “These draconian laws and rules are like taking a sledgehammer to hit a flea,” said Cecile Scoon, a lawyer and the president of the Florida league.
Persons: LaVon Bracy, Lyndon Johnson, Ron DeSantis, , Cecile Scoon Organizations: Gov, League of Women Voters, Florida Locations: Florida
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