Business

General Motors said Tuesday that it plans to take a $1.6 billion charge in the third quarter as it revamps its electric vehicle strategy as the end of the federal government's EV tax credit is expected to slow demand.GM's move comes as automakers are reworking their plans for producing EVs after consumer demand softened over the last two years.The Trump administration's move to end the $7,500 federal tax credit for EVs, […]

United Airlines' first mainline Starlink-equipped flight is ready for takeoff.United flight 2940 is taking off Wednesday from Newark/New York to Houston, the airline announced, "marking the first time a major U.S. airline has offered Starlink Wi-Fi on a mainline flight with connectivity across both personal devices and inflight entertainment screens."United plans to install Elon Musk's Starlink "on up to 15 mainline 737-800 planes each month," according to a press release. More […]

Federal Reserve Chair Jerome Powell on Tuesday said that the economy continues to see a softening of the labor market despite the government shutdown delaying the release of official jobs and inflation data.Powell spoke at the National Association of Business Economists (NABE) after receiving the Adam Smith Award for his work on applying economic principles in policy. The Fed chair said while the September jobs report and inflation data, available data […]

The theme song for the exchange-traded fund industry could very well be Frank Sinatra’s "It Was a Very Good Year," as the industry just hit $1 trillion annually in assets this month, faster than any other time in history."I think, largely speaking, you look across the different asset classes – stocks, bonds, commodities, gold, of course – it's been a very good year to own assets. Assets largely across the […]

Nvidia CEO Jensen Huang sent a letter to the chip giant's staff on Monday expressing gratitude for the release of Avinatan Or, an Israeli employee of the company who was released from Hamas captivity after two years.Or was attending the Nova music festival with his partner, Noa Argamani, near Kibbutz Reim when Hamas conducted a terror attack against communities near the Gaza border on October 7, 2023. Or and Argamani were both […]

In its sharpest response yet to recent U.S. trade actions, China said on Monday it "firmly rejects" Washington’s new restrictions and urged the Trump administration to honor commitments made between the two leaders in past phone calls."China firmly rejects the recent U.S. restrictions and sanctions on China and will do what is necessary to protect its legitimate rights and interests," the Chinese Ministry of Foreign Affairs wrote on X.TRUMP THREATENS […]

LendingTree, Inc. announced Monday its founder and CEO Doug Lebda died unexpectedly in an all-terrain vehicle accident over the weekend. The board has appointed LendingTree’s Chief Operating Officer and President, Scott Peyree, to succeed Lebda, effective immediately."We are deeply saddened by the sudden passing of Doug. Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers," the board […]

Amazon is gearing up for the holidays with a plan to hire 250,000 works across its U.S. fulfillment and delivery network. The online commerce giant is hiring full-time, part-time, and seasonal roles, with positions being posted weekly through December. Amazon touted that regular full- and part-time employees earn an average of $23 per hour with benefits, and seasonal employees can earn an average wage of over $19 per hour. The company said […]

Despite the continuing government shutdown, taxpayers who requested an extension earlier this year from the IRS to file their return still have to meet the cutoff date. Taxpayers who needed more time to file their 2024 tax return earlier this year were able to request an extension from the IRS before the April 15 filing deadline that gave them until October 15 to get their return filed.While extensions give taxpayers extra time to […]