Markets on Wall Street logged losses in early trading Wednesday as the tech sector was dragged down by some uninspiring earnings from high-profile companies. Futures for the S&P 500 slipped 0.9% before the bell and futures for the Dow Jones Industrial Average fell 0.5%. The tech-heavy Nasdaq tumbled 1.3%. Electric vehicle maker Tesla’s second-quarter net
DETROIT — Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing. The Austin, Texas, company said Tuesday that it made $1.48 billion from April through June, less than the $2.7 billion it made in the same period of 2023.
West Virginia Economic Development Authority Executive Director Kris Warner, right, hands Gov. Jim Justice documents to sign to approve up to $50 million in low-interest loans for the new Cleveland-Cliffs electric transformer manufacturing project in Weirton. (Photo by Steven Allen Adams) CHARLESTON — The Cleveland-Cliffs project to build electric transformers on
Ontario’s self-described Crypto King will likely remain bankrupt until criminal fraud and money laundering charges are resolved against the 25-year-old. Justice William Black dismissed Aiden Pleterski’s application for a discharge from his nearly two-year-long bankruptcy in a ruling released Thursday. “Mr. Pleterski’s conduct warrants an emphasis on public protection and accountability,” wrote the Ontario Superior
Major computer chip manufacturers like Nvidia and TSMC continued to slump Thursday as warnings from both President Biden and Republican nominee Donald Trump fueled renewed geopolitical concerns among investors. The selloff occurred after the Biden administration threatened severe restrictions on exports by foreign chipmakers to China, while former President Donald Trump rattled the market by
SAN JUAN, Puerto Rico — The U.S. government announced Thursday that $325 million in federal funds will be available for solar and battery storage installations across Puerto Rico as the U.S. territory struggles with chronic power outages. The program, funded by the U.S. Department of Energy, will target community centers and healthcare facilities, as well
NEW YORK — The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act. If enacted, the proposed rule would provide clarity to a fast-growing industry known as Earned Wage Access, which
China has announced that it will invest around $845 million (six billion yuan) into the development of next-generation EV batteries in the country. Six companies, including CATL, a global leader in EV battery tech, and auto manufacturers BYD and Geely, will get access to government funding for this “unprecedented” project, which focuses on building viable
FORT WAYNE, Ind. (WFFT) — Fort Wayne City Council granted Brightpoint $2.5 million for its Small Business Loan Project Tuesday. That money will come out of the City’s Legacy Fund, which is meant to invest in transformational projects across the city. As of December 31, 2023, the account holds $36,674,431. The Legacy Joint Funding Committee originally
CNBC’s Jim Cramer examined why the market rallied on Tuesday, saying buyers were encouraged by last week’s consumer price index, and that many anticipate former President Donald Trump will win in November. But he emphasized that investors who haven’t already bought into this market have missed their chance to take advantage of the rally. “If