Polestar (PSNY) earnings Q2 2023
The Polestar 3 SUV, originally expected late this year, has been pushed into early 2024 because of delays with its Volvo-developed software. Courtesy: Polestar Swedish electric-vehicle maker Polestar on Thursday reiterated that it still expects to deliver at least 60,000 EVs in 2023, with a positive gross margin – and confirmed that its next two […]
Here’s where UBS’s profit of $29 billion ranks
Granted, it was more an accounting quirk rather than hard money entering its coffers, but UBS’s $28.88 billion profit in the second quarter was one for the record books. It was reportedly the largest that any bank has ever reported. Also read: UBS reports $29 billion profit as it rules out domestic bank spinoff According […]
Mark Thompson steps in as next CNN chief
Mark Thompson is stepping in as the next CEO and chairman of CNN. Parent company Warner Bros. Discovery said Wednesday it appointed Thompson as the next leader of the news network, a few short months after the ouster of Chris Licht. Thompson previously served as president and CEO of The New York Times from 2012 […]
Here are the best and worst states for workers. Do you live in one of them?
There is growing inequality among U.S. states when it comes to worker-friendly policies and laws, according to a new report released ahead of Labor Day. But there’s good news, too: Some states that rank in the middle of Oxfam’s annual index of the best and worst states for workers are making progress. In 2018, the […]
Walmart tries to grow third-party marketplace with Las Vegas event
Walmart is hosting its first seller summit businesses that are part of its third-party marketplace. The two-day event includes how-to sessions and remarks by the retailer’s top leaders. Melissa Repko | CNBC LAS VEGAS — Walmart is looking for new ways to woo sellers to its third-party marketplace, as it pushes to drive more online […]
Shein faces scrutiny over forced labor before IPO
A woman with a Shein bag after entering its first physical store in Madrid, June 2, 2022. Europa Press News / Contributor Fast-fashion juggernaut Shein is facing more scrutiny from elected officials in the U.S. who want the company to prove it doesn’t use forced labor before it files for a widely rumored initial public […]
Salesforce ‘very thirsty’ to be AI CRM leader, Benioff says following strong outlook, improved margins
Salesforce Inc. shares rallied in the extended session Wednesday after the customer-relations management software giant’s earnings outlook topped Wall Street expectations two weeks ahead of its annual confab. Salesforce CRM shares rallied more than 6% after hours, and held steadily in that range during the conference call with analysts, following a 1.5% rise to close […]
HHS calls for easing marijuana restrictions
James Romano trims flower while working in the CommCan processing facility in Medway, Massachusetts, Oct. 27, 2021. Erin Clark | Boston Globe | Getty Images The U.S. Department of Health and Human Services has recommended reclassifying marijuana as a lower-risk drug, which would in turn ease restrictions on the budding business, a spokesperson for the […]
How can I give $600K to my kids and ensure they don’t lose it if they divorce?
Dear Quentin, My three siblings and I inherited a house on a beautiful island from our parents that is worth about $2 million. It is mostly used in the summer. I’m 72, I live abroad, and I don’t get there much. I find the maintenance costs and the joint decision making burdensome, as lovely as […]
Medicare drug price negotiations may have muted impact on drugmakers
In this photo illustration, Eliquis is made available to customers at the New City Halsted Pharmacy on August 29, 2023 in Chicago, Illinois. Scott Olson | Getty Images Medicare is set to negotiate prices for 10 different drugs with manufacturers in a bid to make those costly treatments more affordable for older Americans – a […]
