Business - Page 2

German automaker Volkswagen Group will fund up to $5bn in US electric vehicle maker Rivian as part of a unique, equally controlled joint experience to share EV architecture and software, the firms said on Tuesday.

June 26, 2024

Business

Volkswagen Group invests $5bn in Rivian for joint EV venture

Under Armour said on Friday that it had decided to pay $434 million to reimburse a 2017 class action case blaming the sports apparel maker of cheating shareholders about its earnings growth to meet Wall Street predictions.

June 22, 2024

Business

Under Armour agrees to $434m settlement in shareholder fraud lawsuit

The Bank of England kept its primary interest rate intact at a 16-year high of 5.25% on Thursday ahead of a July 4 election, but a few policymakers said their decision not to cut rates was now "finely balanced."

June 20, 2024

Business

Bank of England holds interest rates steady at 5.25%

Sweden's financial supervisory authority has penalized Nasdaq Stockholm 100 million Swedish crowns ($9.59 million) for not conceding with bourse rules on a few occasions in recent years, the regulator said in a report on Wednesday.

June 19, 2024

Business

Sweden’s financial regulator fines Nasdaq Stockholm $9.59m

US retail sales rose less than predicted in May as lower gasoline prices weighed on receipts at service stations.

June 18, 2024

Business

US retail sales show a modest increase in May

"Target is my backup option," stated Chloe Guss, a customer at the retail chain for around 20 years whose reservations regarding some of its products may threaten the business.

June 14, 2024

Business

Target faces challenges as shoppers seek better quality elsewhere

Argentina's bonds and currency rebounded on Thursday as investors breathed a sigh of relief after the Senate passed a sprawling bill pivotal to libertarian President Javier Milei's financial reform plans and renewed a currency exchange loan accord with China.

June 13, 2024

Business

Argentina’s market rallies as Senate passes key economic reforms

The U.S. National Highway Traffic Safety Administration stated on Friday that Kia America is recalling 462,869 Telluride cars in the U.S. due to a fire threat from overheating the front power seat motor.

June 7, 2024

Business

Kia recalls nearly 463,000 Telluride SUVs over fire risk

Jif peanut butter maker JM Smucker outperformed Wall Street estimates for fourth-quarter earnings on Thursday, backed by higher herbs and frozen food prices and lower input expenses, sending its shares up 2% before the bell.

June 6, 2024

Business

JM Smucker’s Q4 earnings: higher prices boost margins

Renowned investor Ron Baron has approved Tesla CEO Elon Musk's $56 billion pay package, which is up for a shareholder voting next week, according to an open letter from the Baron Capital founder on Tuesday.

June 5, 2024

Business

Key points of the controversy over Elon Musk’s compensation package

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