The logo for Merck is displayed on a screen at the New York Stock Exchange on Nov. 17, 2021. Andrew Kelly | reuters merck on Thursday said its experimental treatment designed to protect infants from respiratory syncytial virus showed positive results in a mid- to late-stage trial, bringing the company one step closer to filing…
DETROIT— General Motors has updated its highly profitable large SUVs for Chevrolet for the 2025 model year to defend the brand’s long-standing segment leadership. The Detroit automaker’s Chevrolet Tahoe and Suburban have led the mainstream full-size SUV segment for more than 45 years, according to GM. But increased competition from automakers such as Ford Motor,…
boeing said Tuesday that it could raise as much as $25 billion in shares or debt over three years, a move to increase liquidity as the troubled manufacturer faces a more than monthlong machinist strike and problems throughout its aircraft programs. “This universal shelf registration provides flexibility for the company to seek a variety of…
Boeing Machinists union members picket outside a Boeing factory on September 13, 2024 in Renton, Washington. Stephen Brashear | Getty Images It’s been just over a month since more than 30,000 boeing Machinists walked off the job after overwhelmingly voting down a tentative contract. Costs and tensions have only risen since then. The strike is…
Boeing 737 MAX airliners are pictured at the company’s factory in Renton, Washington, on Sept. 12, 2024. Stephen Brashear | AP boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. It will also push…
JPMorgan Chase CEO and Chairman Jamie Dimon speaks during the US Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, US, December 6, 2023. Evelyn Hockstein | reuters JPMorgan Chase CEO Jamie Dimon sees risks climbing around the world amid widening conflicts in the Middle East…
Soulstock | E+ | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Wealthy millennials and Gen Zers are redefining the world of charitable giving, seeing themselves more…
FTC Chairwoman Lina Khan testifies during the House Appropriations Subcommittee on Financial Services and General Government hearing titled “Fiscal Year 2025 Request for the Federal Trade Commission,” in Rayburn Building on Wednesday, May 15, 2024. Tom Williams | Cq-roll Call, Inc. , Getty Images CVS Health, UnitedHealth Group and Cigna are demanding Federal Trade Commission…
Florida’s sports betting market may be about to get a lot more interesting, with Hard Rock’s chairman opening the door to partnerships with commercial sportsbooks. Hard Rock has the monopoly on sports betting in the state, winning the exclusive tribal gaming compact following a hard-fought battle against Flutter-owned FanDuel, DraftKings and Penn Entertainment. The sportsbooks…
Rolls-Royce has opened its first US “Private Office,” a secret VIP design studio for ultra-wealthy clients who want highly personalized cars. The Private Office, in Manhattan’s trendy Meatpacking District, is central to the fabled British automaker’s new strategy of growing sales and profits from selling more customized, higher-priced vehicles rather than boosting production. Rolls-Royce produced…
