Business - Page 12

The latest updates and key developments from the business world.

January 9, 2026

GM to book $7.1bn EV and China restructuring charges

Fourth-quarter writedowns tied to EV strategy reset General Motors said Thursday it will record $7.1 billion in special charges for the fourth quarter of last year, reflecting a pullback in its electric

January 6, 2026

Ford boosts U.S. sales on hybrids and affordable models

Annual growth offsets slowdown in electric vehicles Ford reported higher vehicle sales in the United States in 2025, supported by strong consumer demand for its hybrid lineup and more affordable pickup trucks.

January 5, 2026

Toyota US sales rise 8% in 2025 on electrified demand

Strong full-year performance across Toyota and Lexus Toyota Motor North America reported US vehicle sales of 2,518,071 units in 2025, an increase of 8.0% compared with 2024. On a daily selling rate

Meta and Constellation Energy Secure Long-Term Nuclear Deal

by Jamie Spencer

Meta Platforms has announced its first deal with a nuclear power plant, agreeing to partner with Constellation Energy to keep its Illinois-based Clinton Clean Energy Center operating for another 20 years. The

June 3, 2025

New U.S. Export Restrictions Target China, Raising Concerns

by Jamie Spencer

The United States has imposed new export restrictions on companies, preventing them from shipping certain products to China without a license. This move, which includes products like electronic design automation (EDA) software,

May 30, 2025

Best Buy Slashes Guidance as Tariffs Weigh on Earnings

by Jamie Spencer

Best Buy (BBY) investors woke up to disappointing news on Thursday as the retailer reported mixed earnings and lowered its forecast for 2025, citing the ongoing impact of tariffs. Shares plunged nearly

May 29, 2025

Citi Increases Dell Target to $128, Keeps Buy Rating

by Jamie Spencer

Citi analyst Asiya Merchant recently increased the price target for Dell Technologies Inc. (NYSE: DELL) to $128 from $105, while maintaining a Buy rating on the stock. This adjustment is part of

May 29, 2025

Gap Faces $300 Million Hit from Trump’s Tariffs

by Jamie Spencer

Gap announced Thursday that the tariffs imposed by President Donald Trump on China and other countries will cost the retailer between $250 million and $300 million this year. The company, which owns

May 29, 2025

Costco Exceeds Expectations Despite Tariff Concerns

by Jamie Spencer

Costco reported impressive fiscal third-quarter results on Thursday, surpassing Wall Street’s expectations with an 8% rise in sales. The warehouse club retailer posted earnings per share of $4.28, beating the expected $4.24,

May 29, 2025

Abercrombie Shares Surge Despite Profit Outlook Cut

by Jamie Spencer

Shares of Abercrombie & Fitch soared on Wednesday, even as the retailer slashed its profit outlook due to the impact of tariffs, which are expected to cost the company $50 million. Despite

May 28, 2025

Stellantis CEO Antonio Filosa Faces Pressure to Revive U.S. Sales

by Jamie Spencer

U.S. dealers of Jeep SUVs and Ram pickup trucks are looking to new Stellantis CEO Antonio Filosa to reverse months of disappointing sales and restore trust in the brand. Filosa, a 51-year-old

May 28, 2025

Tesla’s European Sales Drop Amid Competition and Issue

by Jamie Spencer

Tesla’s sales in Europe plunged significantly in April, with the U.S. electric vehicle maker facing a 49% year-on-year decline despite an overall surge in battery electric car sales. Tesla sold just 7,261

May 27, 2025

Exxon and Hess Face Off in Court Over Chevron’s $53B Deal

by Jamie Spencer

Exxon Mobil (XOM.N) and Hess (HES.N) are set to meet in court on Monday for a critical hearing that will determine the fate of Chevron’s (CVX.N) $53 billion acquisition of Hess. The

May 26, 2025

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