Rivian Doubles Vehicle Production in Q3, Beats Expectations and Remains on Track to Hit 2022 Targets
Rivian reported higher-than-expected Q3 production and delivery numbers, putting the company on track to surpass its annual estimates and produce 52,000 vehicles in 2023.
China Evergrande Group Chairman Hui Ka Yan is under investigation for alleged asset transfers abroad, as the indebted property developer struggles to complete its projects.
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Credit Suisse has reached a last-minute settlement with Mozambique in a $1.5 billion bribery and fraud case, just before a London trial was due to start, resolving a long-running dispute stemming from events occurring a decade ago.
The Biden administration plans to update export restrictions on AI chips and chipmaking tools to China by early October to stabilize relations, specifically aiming to limit access to chipmaking tools and close loopholes in export restrictions on AI chips.
The National Highway Traffic Safety Administration issued recalls for over 3 million vehicles, including Kia, Hyundai, Jeep, Subaru, and BMW models, due to potential fire-related issues, ABS module problems, rearview camera failures, driveshaft detachment, and faulty welding, respectively.
Stock markets ended mixed as investors processed the effects of the U.S. inflation report on the Federal Reserve's interest rate policy, with the S&P 500 declining by 0.27% and the Nasdaq Composite gaining 0.14%; in Asian markets, Japan's Nikkei 225 settled lower by 0.31% while Australia's S&P/ASX 200 slid 0.22%; in Europe, the STOXX 600 index was down 0.42% with Germany's DAX declining 0.25%, France's CAC 40 sliding 0.36%, and the U.K.'s FTSE 100 trading lower by 0.45%; and in commodities, Crude Oil WTI and Brent gained 0.82% and 0.89% respectively, while Gold traded lower by 0.88%.
French prosecutors are investigating LVMH CEO Bernard Arnault over financial transactions linked to Russian oligarch Nikolai Sarkisov, involving the purchase of a ski resort in the French Alps using a loan from Arnault.
A Taco Bell employee in North Carolina has been hospitalized with "life-threatening injuries" after being shot by a suspect who believed he had been given the wrong amount of change after placing an order.
Nextera Energy Partners (NYSE:NEP) experienced a significant decline in its stock price due to cuts in future growth estimates, the decision by its parent company to not stage an asset dropdown, and a downgrade by Wells Fargo, which noted the company's struggles to raise capital; however, despite these challenges, the stock still has some analyst support and offers potential upside to investors.
Tesla's deliveries in the third quarter were lower than expected, with a 6% decline from the second quarter due to planned factory upgrades and temporary shutdowns, despite the company's target of around 1.8 million vehicles in 2023.
Lyft has found a lost cat named Tux and will cover all of her veterinary bills after a Lyft driver drove away with the sick cat still in the car.
Shares of Sphere Entertainment surged more than 15% after the successful opening weekend of its Las Vegas venue, featuring U2 concerts, as the company aims to revolutionize live entertainment with its futuristic dome-shaped arena and video screens.
The Dow Jones Industrial Average dropped 150 points as the U.S. government averted a shutdown, while Tesla stock declined due to weaker-than-expected third-quarter deliveries.
Jaelynn Chaney, a plus-size travel influencer, has called on hotels to make changes such as enlarging hallways, raising toilet seats, and providing size-inclusive amenities to accommodate bigger vacationers and create a more inclusive travel industry.
Dental aligner company SmileDirectClub Inc. will search for a buyer for two months and liquidate if unsuccessful, following its Chapter 11 bankruptcy filing.
U.S. Federal Reserve Chair Jerome Powell acknowledges that the U.S. economy is still grappling with the effects of the COVID-19 pandemic, highlighting labor shortages in healthcare and ongoing difficulties with access to child care.
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Bill Ackman warns that the U.S. economy is slowing down due to aggressive rate hikes and high real interest rates, which could lead to a challenging period for investors in the commercial real estate market.
The United Auto Workers union has reached a tentative contract agreement with Mack Trucks, which would provide increased wages and benefits for workers while allowing the company to remain competitive in the market.
Chinese EV makers Nio, Li Auto, and XPeng reported year-over-year growth in September deliveries, with Li Auto leading the pack with a 213% increase, while Nio and XPeng both experienced positive growth as well; Li Auto's Q3 deliveries exceeded expectations and the company continues to perform strongly in the Chinese market.
German sandal company Birkenstock plans to price its upcoming IPO in New York at $44 to $49 per share, with a valuation of up to $9.2 billion, and it has announced that Alexandre Arnault, son of LVMH chairman Bernard Arnault, will join its board of directors.
One lucky Michigan Lottery player won $1 million in Saturday's Powerball drawing, amidst a $960 million jackpot.
Financial experts on the Ramsey Solutions team have advised homeowners to navigate the volatile housing market amidst high mortgage rates, emphasizing the importance of being debt-free, saving for emergencies, and creating a budget.
Around 4,000 United Auto Workers (UAW) members have reached a temporary agreement with Mack Trucks, owned by Volvo Group, to increase wages and maintain benefits, pending ratification by the UAW.
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Stock futures open higher after lawmakers avert government shutdown, providing a boost to markets and allowing more time for funding proposals to be finalized.
Target has launched its Circle Week sale, featuring discounts on games, electronics, and Apple products, available to Target Circle members who save the deals.
An 11th-hour agreement between Mack Trucks and the United Auto Workers union narrowly averted a strike, as the union continues to strike against three major car manufacturers, with ratification by union members now needed for the contract to go into effect.
Biden's proposal to increase fuel economy standards could cost General Motors $6.5 billion in fines and Stellantis $3 billion, according to an industry group representing major automakers.
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The European Union has launched the first phase of the Carbon Border Adjustment Mechanism (CBAM), which aims to impose CO2 emissions tariffs on imported steel, cement, and other goods to prevent more polluting foreign products from undermining its green transition.
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The trial of Sam Bankman-Fried serves as a cautionary reminder for crypto traders to exercise caution amidst regulatory scrutiny and waning interest in the crypto market.
Amazon is offering discounts on various Fire tablets, including the Fire HD 8 for $60, the Fire HD 8 Plus for $70, and the Fire Max 11 for $150, among others, as part of a sale ahead of its Prime Big Deal Days event, with prices matching or approaching the lowest ever seen.
Former FTX head and crypto billionaire Sam Bankman-Fried is set to go on trial in New York City, facing federal charges of wire fraud, securities fraud, and money laundering that defrauded customers of his digital currency exchange, FTX, and lenders to his cryptocurrency hedge fund, Alameda Research.
Amazon has agreed to invest up to $4 billion in AI startup Anthropic, aiming to enhance its rivalry with Microsoft, Meta, Google, and Nvidia in the rapidly growing AI sector.
No jackpot winner in Powerball drawing, with the next expected jackpot soaring over $1 billion; one person in Georgia won a $50,000 prize.
Ford Motor Company has paused construction on a $3.5 billion electric vehicle battery plant in Michigan, citing the need to ensure competitive operation of the facility, with the ongoing United Auto Workers' strike potentially being a factor.
Russia has lifted its temporary ban on low-quality diesel and marine fuel exports, which was implemented to stabilize domestic fuel prices and address shortages caused by higher crude prices and a weak Russian ruble.
The Biden administration is allocating $600 million to produce new at-home COVID-19 tests and relaunching the website for Americans to order up to four free tests per household in order to prevent potential shortages during the upcoming colder months and rising coronavirus cases.
