New York CNN Business — Toyota announced plans Wednesday to invest $5.6 billion in new plants to build electric vehicle batteries in Japan and the United States. But unlike other automakers who are going all-in on EVs, Toyota said it’s still not convinced that’s the best path forward. The world’s largest automaker in terms of…
Continue Reading
New York (CNN Business)Bed Bath & Beyond is in deep turmoil. The company is trying to rescue itself and stay out of bankruptcy by shrinking.The chain said Wednesday that it will lay off approximately 20% of corporate employees, close around 150 stores and slash several of its in-house home goods’ brands.Crucially, the company also said…
Continue Reading
It was a busy day for the Chicago Bears on Wednesday as they made a slew of roster moves to amend their initial 53-man roster.The Bears claimed a league-high six players, including former first-round offensive lineman Alex Leatherwood, who lasted just one year in Las Vegas before being a surprise cut. Another surprise cut was…
Continue Reading
The New England Patriots’ wide receiver room has depth. It may not have perennial Pro Bowl-caliber players, but there are options as the team looks to change up its offensive scheme.The room looks to be headlined by newcomer DeVante Parker, as well as veterans Jakobi Meyers and Nelson Agholor. The latter looks to be a…
Continue Reading
Associated PressChiefs get younger with 9 of 10 draft picks making teamThe Kansas City Chiefs wanted to get younger around quarterback Patrick Mahomes and the rest of their veteran core. The Chiefs selected 10 players in April, their most in 14 years, and all but one made the final cutdown Tuesday for teams to reach…
Continue Reading
The Las Vegas Raiders’ decision to release former first-round offensive lineman Alex Leatherwood as part of final cuts on Tuesday put an official end to one of the worst multi-year draft hauls any team has had in recent NFL history. Under former head coach Jon Gruden and general manager Mike Mayock, the Raiders had a…
Continue Reading
U.S. stocks tumbled in a turbulent session Wednesday as fears of combative Federal Reserve policy to rein in inflation continued to weigh on sentiment.The S&P 500 sank 0.8%, while the Dow Jones Industrial Average tumbled 280 points, or about 0.9%. The tech-heavy Nasdaq Composite fell 0.6%. A volatile run for stocks in recent weeks has…
Continue Reading
Elon Musk-Jeff Bezos; Jeff Bezos-Elon Musk: this is the duo that has dominated the ranking of the biggest fortunes in the world for two years now. The Tesla (TSLA) co-founder and Amazon (AMZN) founder are the two richest men in the world, according to Bloomberg Billionaires Index. Their dominance was further reinforced by the stock market rise…
Continue Reading
The first half of 2022 was dominated by high inflation and the Federal Reserve’s shift to an monetary tightening policy in response. The second half will find those same factors still pushing on stocks – but they’ll be joined by earnings pressure, in the view of Morgan Stanley equity strategist Mike Wilson.“Indicators suggest margin pressure…
Continue Reading