Tesla is starting to lose market share among US buyers of electric vehicles, and Ford’s Mustang Mach-E appears to be the beneficiary. Analysis by Morgan Stanley shows that Tesla’s share of the US EV market fell to 69% in February, down from 81% a year ago. Tesla’s US sales are still climbing, according to this…… MORE
US stocks tumbled Thursday after Federal Reserve Chairman Jerome Powell predicted an increase in consumer prices this summer — something investors fear will force interest rates up sooner than expected. Powell, speaking at a conference Thursday, predicted strong job growth and increases in consumer prices as the vaccine rollout allows the economy to reopen fully.…… MORE
The repo market, a murky yet crucial corner of Wall Street, is acting weird again. And the turmoil suggests the Federal Reserve may need to come to the rescue once more. The Dow, GameStop and bitcoin steal a lot of headlines, but the repo market is vital to the functioning of modern finance. Trillions of…… MORE
A group of major oil producers has agreed to extend production cuts for another month despite a recent price surge, choosing to limit supply until the global economic recovery is more firmly established. The Organization of the Petroleum Exporting Countries (OPEC) and allied producers said on Thursday that they would largely roll over production cuts…… MORE
“Fast & Furious” fans will have to wait a bit longer to see the next installment in the blockbuster series. Universal is once again delaying “F9,” the ninth movie in the action franchise, pushing the film from a Memorial Day weekend release on May 28 to June 25. The film, which stars Vin Diesel as…… MORE
Last year, people were stockpiling food and essentials at stores and ordering a lot more groceries online. That was great news for America’s biggest grocery chains. Now companies say the pandemic-time boom is over. Kroger, the largest supermarket chain in this country, said Thursday that it expects comparable sales, or sales at stores open for…… MORE
There’s something unusual about Amazon‘s first physical store outside the United States: No waiting to pay. The e-commerce giant opened a convenience grocery store in London on Thursday that offers “just walk out” shopping — meaning customers don’t scan items or pay for them in store. Instead, customers scan a QR code using the Amazon…… MORE
Arriving late to the streaming wars is apparently better than never getting involved in them at all. That’s what investors seem to think, at least. Just look at the huge stock gains for ViacomCBS and Discovery so far in 2021. The Paramount+ streaming network finally launched Thursday after a lot of fanfare, including investors sending…… MORE
The South Side of Chicago isn’t typically a place where major companies look to open corporate offices. Most of the city’s Fortune 500 firms are located downtown — with views of the Chicago River or Lake Michigan — or in the nearby suburbs. Then there’s Discover, the credit card and financial services company based in…… MORE
Oh, the places Dr. Seuss books will go after they ignite controversy. This week, Dr. Seuss Enterprises announced that six books penned by the children’s author will no longer be published because of the “hurtful and wrong” ways characters of color are portrayed. Now, Dr. Seuss books have soared to the top of Amazon’s bestseller…… MORE
