Business news

Business news • Apr 30

Warren Buffett explains sports betting in simple terms: “It’s a tax on stupidity”

Few Americans in history have had more success in the financial world than Warren Buffett. And Warren Buffett, who's still going strong at 95, has a strong...

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Business news • Apr 30

Rivian Automotive Boosts Initial Capacity for Georgia Plant; First-Quarter Revenue Rises

The change will allow for 300000 units of annual production capacity for its mid-sized vehicles, known as the R2.

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Business news • Apr 30

Apple chief Tim Cook says it was the 'right time' to step down as CEO

Apple CEO Tim Cook said now is the right time to step down because of the company's strong performance, its product roadmap and successor John Ternus'...

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Business news • Apr 30

Meta threatens to shut down social networks in New Mexico over child safety court case

Company asserts in court filing that the state's proposed remedies would be too onerous to comply with.

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Business news • Apr 30

Reddit Stock Jumps As Q1 Results Beat Expectations

Reddit (RDDT) stock jumped late Thursday after the social media company reported first-quarter results ahead of expectations. Shares of the 2024 star IPO...

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Business news • Apr 30

iPhone 17 Is Apple's Most Popular Lineup Ever

Apple's iPhone 17 models are its most popular iPhones to date, Apple CFO Kevan Parekh told the Financial Times. Both Parekh and Apple CEO Tim Cook...

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Business news • Apr 30

‘This is not normal’: Former Fed economist sounds alarm on Kevin Warsh after one-sided confirmation

The Senate Banking Committee voted 13-11 along party lines Wednesday to advance Kevin Warsh's nomination as the next chair of the Federal Reserve, the first...

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Business news • Apr 30

Stocks clock their best month since 2020 as Wall Street shakes off Iran oil shock

The S&P 500 and Nasdaq composite just tallied their best month in six years, surprising the bears focused on oil prices.

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Business news • Apr 30

State gas prices hit record average of $5.57 a gallon, squeezing drivers’ budgets

Drivers across the state are paying record-high prices at the pump, making commutes, school drop-offs, and everyday errands a bigger strain on household...

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Business news • Apr 30

Chick-fil-A worker accused of criminal mac-tivity in $80,000 mac 'n' cheese fraud, police say

A former Chick-fil-A worker in Texas is accused of trying to rake in the cheddar by ringing up 800 orders of mac and cheese and then refunding them to his...

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Business news • Apr 30

Rivian (RIVN) lifts production capacity for its Georgia plant by 50% to 300K vehicles annually

Rivian (RIVN) now expects to produce up to 300,000 vehicles at its Georgia manufacturing plant, a 50% increase from its initial estimate.

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Business news • Apr 30

Apple tops Q2 earnings estimates on strong iPhone, China sales

Apple (AAPL) reported its second quarter earnings on Thursday, topping analysts' estimates on the top and bottom lines on strong iPhone sales.

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Business news • Apr 30

Stock Market Today: Dow Adds 790 Points; Meta Falls, Lilly Jumps As Chip, Data Center Firms Jam (Live Coverage)

Stock Market Today: The Dow Jones index jumps Thursday as oil prices pull back. Meta stock plunges after earnings.

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Business news • Apr 30

Rivian renegotiates DOE loan down to $4.5 billion, adjusts capacity plans for Georgia plant

The DOE loan was previously set to support two phases of production for a total of 400000 units annually.

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Business news • Apr 30

Pershing Square Shares Rebound After Ackman Bought Stock

(Bloomberg) -- Shares in Bill Ackman's new $5 billion listed investment fund and his asset management company rebounded in the second day after their IPO,...

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Business news • Apr 30

Rivian downsizes new EV factory after Trump’s DOE slashes loan agreement

The change comes as a result of a smaller loan — $4.5 billion, instead of $6.6 billion — from the Department of Energy.

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Business news • Apr 30

Google Stock Soars On Q1 Earnings As Analysts Trumpet 'Full Stack' AI Platform

Google stock popped on Thursday as parent Alphabet's (GOOGL) first-quarter earnings report showed strong revenue growth in cloud computing and internet...

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Business news • Apr 30

Rivian downsizes DOE loan to $4.5B for Georgia factory

Rivian has reworked its loan deal with the Department of Energy and now expects to borrow $4.5 billion to build its new factory in Georgia, down from the...

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Business news • Apr 30

Rivian downsizes DOE loan to $4.5B, while boosting capacity of Georgia factory

Rivian has reworked its loan deal with the Department of Energy and now expects to borrow $4.5 billion to build its new factory in Georgia, down from the...

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Business news • Apr 30

3 Stocks I'd Rather Own Than Apple With a CEO Shakeup

Flawless execution isn't a given in a leadership transition.

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