Stellantis, the multinational automotive company formed by the merger of Fiat Chrysler Automobiles and PSA Group, is gearing up to introduce a $25,000 all-electric Jeep vehicle in the U.S. to appeal to a wider audience. This move comes as a response to the slower-than-expected adoption of electric vehicles in the country, aiming to make electric
A recent study conducted by the Schwartz Center for Economic Policy Analysis sheds light on the financial struggles faced by older Americans with unpaid student loan debt. The research, which analyzed data from over 2.2 million individuals aged 55 and over, revealed that a significant number of older workers are burdened by student loan balances
Nissan has recently issued a warning to owners of older vehicles that are equipped with recalled, unrepaired Takata airbags. The National Highway Traffic Safety Administration (NHTSA) announced that a total of 83,920 cars are affected by this alert. These include models such as the 2002-2006 Nissan Sentra, 2002-2004 Nissan Pathfinder, and 2002-2003 Infiniti QX4 vehicles,
Jim Chanos, a well-known short seller, has vehemently denied the recent lawsuit accusing him of embezzling funds for personal use. In a statement given to CNBC’s Scott Wapner, Chanos described the allegations as “false, baseless and defamatory”. The lawsuit was filed by Conlon Holdings, a firm based in Chicago run by Sean Conlon, who claimed
Abercrombie & Fitch recently announced its strongest first quarter in history, showcasing a remarkable performance that surpassed market expectations. The company reported a 22% increase in sales compared to the previous year, with profits nearly seven times higher than anticipated by Wall Street analysts. The company’s earnings per share stood at $2.14, outperforming the expected
Cathie Wood’s ARK Invest has recently made a significant move by taking a stake in Elon Musk’s startup xAI, further solidifying its commitment to artificial intelligence. This investment marks a strategic decision by ARK Venture Fund to capitalize on the growing prominence of AI technology in today’s market. This move highlights the fund’s keen interest
The recent increase in mortgage rates has impacted the demand for mortgages significantly. After a slight decrease during May, mortgage rates have started to rise again. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances has increased, leading to a decrease in mortgage demand. In fact, total mortgage application volume fell
In a surprising turn of events, Dick’s Sporting Goods has reported a significant increase in customer spending on new sneakers and athletic gear. This surge has propelled the retailer to raise its full-year earnings guidance, much to the delight of investors. With shares jumping about 7% in premarket trading, it is evident that Dick’s has
Clean energy stocks may be struggling in the public market, but the appetite for companies focused on decarbonization is still strong in private markets. Clean Energy Ventures recently announced the closing of its second fund, raising a total of $305 million. The oversubscription of the fund, with the initial target set at $200 million, reflects
The International Monetary Fund (IMF) has recently upgraded its forecast for China’s economic growth this year to 5%, up from the previous estimate of 4.6%. This revision was made following a review of China’s first-quarter economic performance and recent policy measures implemented by the Chinese government. The IMF now projects that China’s economy will expand