Business

234 summaries

All (234)Corporate (92)Economy (44)Automotive (18)Legal (16)Technology (12)Markets (10)

Rivian to Launch Affordable R2 SUV Line Starting at $58,000

Rivian will begin delivering its more affordable R2 line of SUVs this spring with a variant priced at $57,990 , according to multiple reports. The electric vehicle maker aims to widen its customer base and compete with Tesla's best-selling Model Y. The launch variant is a 656 horsepower dual-motor a

Mar 12, 1:01 PM ET Est. Read: 2 Mins

3 articles from 3 publishers

BusinessCorporate

Costco Sued for Tariff Refunds

A Costco customer has filed a proposed class-action lawsuit against the retailer, demanding that potential tariff refunds be returned to shoppers who paid higher prices due to levies. The plaintiff, Matthew Sockov, argues that Costco could receive compensation twice—from customers through elevated p

Mar 12, 1:01 PM ET Est. Read: 2 Mins

3 articles from 3 publishers

BusinessEconomy

Gas Prices Surge as Iran War Fuels EV Interest

As gas prices surge due to the ongoing Iran war , some drivers are considering a switch to electric vehicles (EVs). The national average price for regular gasoline has risen to $3.57, up from $2.94 just a month ago. The conflict has disrupted oil flow through the Strait of Hormuz, a critical arte

Mar 12, 10:35 AM ET Est. Read: 2 Mins

5 articles from 4 publishers

More Business Summaries

Automotive

BMW Faces Challenges Amid Global Auto Industry Shifts

BMW anticipates a moderate decline in pre-tax earnings for 2026, citing ongoing tariff costs and intense competition in China. The company reported a 6.7% slump in 2025 pre-tax profit and expects deliveries to remain stagnant. The outbreak of war in the Middle East has further rattled nerves, driv

Mar 12, 8:37 AM ET·3 min read

10 articles from 5 publishers

Legal

Estée Lauder Sues Jo Malone Over Name Use

Estée Lauder Companies has filed a lawsuit against British perfumer Jo Malone , her fragrance brand Jo Loves , and Zara UK for using her name in their recent collaboration. The cosmetics giant claims that the use of Malone's name on the packaging of Jo Loves fragrances sold by Zara breaches a 1999 a

Mar 12, 8:36 AM ET·2 min read

5 articles from 5 publishers

Energy

Tesla Approved to Supply Power in UK

Tesla has received approval from Ofgem, the energy regulator, to supply electricity to homes and businesses across Great Britain. This license allows the company to expand its energy operations into the UK market. The move positions Tesla to compete directly with existing household suppliers such

Mar 12, 6:29 AM ET·2 min read

5 articles from 5 publishers

Economy

South Korea Approves $350B Investment in U.S.

The National Assembly of South Korea approved a special bill on Thursday, enabling Seoul's $350 billion investment commitments in strategic U.S. industries as part of a trade deal signed last November. The legislation received bipartisan support from both the ruling Democratic Party (DP) and the mai

Mar 12, 4:35 AM ET·2 min read

11 articles from 5 publishers

Retail

John Lewis Awards Staff First Bonus

John Lewis Partnership has awarded its staff a bonus for the first time since 2022. The retailer reported a 6% rise in underlying profits during its last financial year and announced a 2% bonus equivalent to an extra week's pay. The partnership, which operates John Lewis department stores and Waitro

Mar 12, 4:35 AM ET·1 min read

3 articles from 3 publishers

Trade

US Launches Trade Probes into Forced Labor

The U.S. has launched new trade investigations under Section 301 of the Trade Act of 1974 into 60 economies , including major trading partners such as China, Canada, Mexico, Japan, South Korea, Vietnam, Australia, the UK, and the European Union . The probe, announced on March 12 by U.S. Trade Repres

Mar 11, 10:46 PM ET·3 min read

20 articles from 14 publishers

Economy

LAX Approves Fee Hike for Ride-Hailing Companies

The Los Angeles World Airports board has approved a fee hike for private transportation companies operating at LAX, including Uber, Lyft, taxis, and limousines. The move is part of an effort to ease congestion as the airport prepares for high-profile events like the World Cup this summer, the 2027 S

Mar 10, 8:49 PM ET·2 min read

5 articles from 3 publishers

Economy

Airlines Raise Fares Amid Jet Fuel Price Surge

Airlines worldwide are raising fares and adjusting operations in response to a surge in jet fuel prices driven by the ongoing U.S.-Israeli conflict with Iran. Jet fuel prices have doubled from $85–$90 per barrel to $150–$200, significantly impacting operating costs for airlines, where fuel accounts

Mar 10, 3:15 PM ET·3 min read

6 articles from 5 publishers

Corporate

Volkswagen Plans 50,000 Job Cuts by 2030

Volkswagen announced plans to cut 50,000 jobs in Germany by 2030 , citing a significant drop in profits due to US tariffs and declining sales in key markets. The job cuts will affect all 10 of the automaker's brands, including Porsche, Audi, Lamborghini, and Bentley. The company reported a 54% de

Mar 10, 3:15 PM ET·2 min read

3 articles from 3 publishers

Legal

Sony Faces £2bn UK Lawsuit Over PlayStation Digital Prices

Sony is facing a £2 billion ($2.7 billion) class-action lawsuit in the UK, with millions of PlayStation users alleging that they have been victims of "excessive and unfair" download charges over nearly a decade. The case, brought by consumer campaigner Alex Neill on behalf of an estimated 12.2 mi

Mar 10, 1:19 PM ET·2 min read

3 articles from 3 publishers

Corporate

Uber Expands Women-Only Ride Feature Nationwide

Uber has launched its 'Women Drivers' feature nationwide, allowing both female riders and drivers to be matched with each other. The option is part of the company's efforts to address safety concerns but comes amid legal challenges from male drivers who argue it is discriminatory. The feature all

Mar 9, 4:57 PM ET·4 min read

6 articles from 6 publishers

Media

Scott MacFarlane Exits CBS News

Scott MacFarlane, a prominent justice correspondent for CBS News , announced his departure from the network on Monday. In an email to colleagues, MacFarlane stated that the decision was his own and expressed gratitude for the opportunity to work with talented professionals at CBS. The move comes a

Mar 9, 4:03 PM ET·2 min read

4 articles from 4 publishers

Technology

Nscale Raises $2B at $14.6B Valuation

Nscale, a British AI infrastructure company backed by Nvidia, has raised $2 billion in funding at a valuation of $14.6 billion. This makes it one of Europe's latest decacorns alongside Helsing and Mistral AI. The Series C round was led by Aker ASA and 8090 Industries, with participation from Astra

Mar 9, 12:37 PM ET·2 min read

3 articles from 3 publishers

Corporate

Novo Nordisk Settles with Hims & Hers

Novo Nordisk and U.S. telehealth company Hims & Hers have settled their legal dispute by agreeing to sell Novo's weight-loss drugs Wegovy and Ozempic through Hims' platform. The Danish drugmaker announced the deal on Monday, marking a turnaround from February when it sued Hims over a $49 compounded

Mar 9, 11:19 AM ET·1 min read

5 articles from 5 publishers

EconomyCONFLICTING REPORTS

Stocks Tumble as Oil Prices Surge Amid Iran War

U.S. stocks tumbled on Monday as oil prices surged above $100 a barrel , driven by the ongoing war in Iran and its impact on global oil supplies. The S&P 500 slid 88 points, or 1.3% , to 6,652 in early trading, while the Dow Jones Industrial Average plunged 632 points, or 1.3% , to 46,870 . The Na

Mar 9, 11:19 AM ET·2 min read

3 articles from 3 publishers

Corporate

Live Nation Settles Antitrust Case with DOJ

Live Nation Entertainment has reached a tentative settlement with the U.S. Department of Justice (DOJ) to resolve an antitrust lawsuit that accused the company of monopolizing the live events industry. The agreement, announced on Monday, comes just days after the trial began in federal court in Manh

Mar 9, 11:19 AM ET·5 min read

14 articles from 13 publishers

Economy

Oil Prices Surge Past $100 Amid Iran-Israel Conflict

Crude oil prices have surged past $100 per barrel for the first time since Russia's invasion of Ukraine, driven by escalating conflict between Iran and Israel. This surge has led to a significant increase in gas prices across the U.S., with the national average reaching around $3.45 per gallon. T

Mar 9, 6:09 AM ET·6 min read

57 articles from 21 publishers

Automotive

Ford Recalls Nearly 1.74 Million Vehicles Due to Rearview Camera Display Issues

Ford has issued two recalls affecting nearly 1.74 million vehicles in the U.S., citing problems with rearview camera displays, according to notices published by the National Highway Traffic Safety Administration (NHTSA). The first recall impacts certain 2021-2026 Ford Broncos and 2021-2024 Ford Edge

Mar 7, 5:25 PM ET·2 min read

6 articles from 6 publishers

Retail

Saks Global to Close 15 More Department Stores During Bankruptcy Restructuring

Saks Global Inc., the parent company of luxury retailers Saks Fifth Avenue and Neiman Marcus, announced plans to close an additional 15 department stores as part of its Chapter 11 bankruptcy restructuring. The closures are aimed at focusing on more profitable locations and trimming debt. The comp

Mar 6, 11:21 PM ET·2 min read

3 articles from 3 publishers

Markets

Stocks Plunge as Oil Surges on Iran War Fears

U.S. stocks fell sharply on Thursday as oil prices spiked due to geopolitical tensions in the Middle East, raising concerns about inflation and global economic stability. The Dow Jones Industrial Average briefly dropped more than 1,100 points before finishing with a loss of 784 points (1.6%). The

Mar 6, 7:38 PM ET·3 min read

26 articles from 12 publishers

CorporateMIXED REPORTS

Nvidia Sets $4 Million Target Cash Bonus for CEO Jensen Huang Under Fiscal 2027 Plan

Nvidia has adopted a new variable compensation plan for fiscal 2027 that sets a target cash bonus of $4 million for CEO Jensen Huang, according to a regulatory filing on Friday. The plan, approved by Nvidia's compensation committee on March 2, ties executive cash bonuses to the achievement of specif

Mar 6, 5:45 PM ET·2 min read

4 articles from 3 publishers

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