United Airlines will cut 12% of domestic Newark flights to help tame delays

A United Airlines passenger airplane is landing at Newark Liberty International Airport in Newark, New Jersey, on January 19, 2022. Tayfun Coskun | Anadolu Agency | Getty Images United Airlines will cut about 50 daily flights from Newark Liberty International Airport next month in an effort to reduce delays that have disrupted travelers’ plans this … Read more

Musk says Tesla Berlin and Austin factories losing billions of dollars

“The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet,” Tesla CEO Elon Musk said. Patrick T. Fallon | Reuters Tesla’s newest car factories in Texas and Berlin are losing “billions of dollars right now” as supply chain disruptions hamper … Read more

Man found not responsible for Times Square vehicle rampage

NEW YORK – A man who drove his car through crowds of people in Times Square in 2017, killing a young tourist and maiming helpless pedestrians, was cleared of responsibility Wednesday because of mental illness. A jury in New York City accepted an insanity defense claiming Richard Rojas was so psychologically disturbed he did not … Read more

Signs of forced labor found in China’s EV battery supply chain: Report

Hundreds of Uyghurs are working for a mining conglomerate that produces raw materials for electric vehicles as part of a so-called work transfer program in China, the New York Times reported. Shen Longquan | Visual China Group | Getty Images Chinese companies that produce raw materials for electric vehicle batteries show indications of using forced … Read more

Delta Air Lines Inc. stock falls Tuesday, underperforms market

Shares of Delta Air Lines Inc. VALLEY, -0.69% sank 0.69% to $ 30.05 Tuesday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, + 2.45% rising 2.45% to 3,764.79 and the Dow Jones Industrial Average DJIA, + 2.15% rising 2.15% to 30,530.25. Delta Air … Read more

Chinese manufacturing orders drop as consumers pull back on goods

Labors work at a factory’s workshop in Huaying, Sichuan province of China. Getty Images Chinese manufacturing orders are reportedly down by as much as 20-30%, according to logistics sources responsible for moving the finished products from Chinese manufacturing plants to the Chinese ports. “As consumers move from purchasing stuff to buying services, importers continue to … Read more

Elon Musk joins the growing chorus fearing a US recession. But there are stocks for that.

Look out above, the dip buyers are back in town. Stock futures are soaring – for now – as Wall Street returns from a long holiday weekend, with Fed Reserve Chair Jerome Powell testifying in front of Congress this week. The buying mood comes after the S&P 500’s worst week since March 2020, including its … Read more

Elon Musk clarifies Tesla layoffs after ex-employees sue company

Tesla CEO Elon Musk. Patrick Pleul | AFP | Getty Images Elon Musk has sought to clarify how many Tesla workers will lose their jobs, following the launch of a lawsuit by former employees who claim the automaker breached US labor laws. Speaking at an event hosted by Bloomberg Tuesday, Musk said Tesla would reduce … Read more

JetBlue raises offer for Spirit to $ 33.50 a share

LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York. Leslie Josephs | CNBC JetBlue Airways said Monday it had boosted its takeover offer for Spirit Airlines to $ 33.50 as it works to convince the ultra-low cost carrier to accept its offer over rival Frontier Airlines’ proposal. Spirit said last week … Read more

How GM, Ford, Tesla are tackling the national EV charging challenge

More people than ever are buying electric vehicles. There are about 2 million EVs on the road in the US, up six-fold since 2016, but the number of EVs is still a very small slice of the more than 280 million vehicles in operation. Some factors, such as upfront cost and battery range, are largely … Read more