Business

Rivian Automotive has redesigned its all-electric R1 pickup and SUV models to improve range, performance and computing power with the help of Nvidia chips, the company said Thursday. While the 2025 model-year vehicles do not outwardly look too different than the current models, Rivian said it has changed more than half the hardware components for

Saravutvanset | Room | Getty Images AMSTERDAM — Corporate payments startup Payhawk told CNBC it is planning mergers and acquisitions to grow its footprint in the corporate spend management world and take on big players like SAP. Payhawk said it is looking to acquire a company or companies at the series A stage of their development, referring to

Lululemon‘s growth in the Americas, its largest market, appears to be stalling after the retailer on Wednesday reported flat comparable sales in the region and weak guidance for the current quarter.  The athletic apparel retailer handily beat Wall Street’s earnings estimates, but only narrowly topped revenue expectations. Lululemon’s full fiscal-year guidance suggests the company is

Barry Sternlicht, chairman and CEO of Starwood Capital Group, speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, on May 7, 2024. David Swanson | Reuters Barry Sternlicht, Starwood Capital Group chairman and CEO, defended his decision to cap how much money investors could pull from his

Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, on Aug. 2, 2023. Carlos Barria | Reuters The Federal Aviation Administration has granted Archer Aviation a key certification that gets the electric air taxi maker closer to eventually flying travelers, the company said Wednesday. Archer is

Raman Bhatia, incoming chief executive officer of Starling. Bhatia moved over from OVO Energy Ltd., where he was CEO.  Zed Jameson | Bloomberg | Getty Images AMSTERDAM — Digital bank Starling will not re-apply for a European Union banking license and instead pursue international expansion through its software business, the incoming CEO said, in a

A Bally Sports display is shown in the eighth inning of the game between the MLB’s Houston Astros and Minnesota Twins at Target Field in Minneapolis, Minnesota, on April 9, 2023. David Berding | Getty Images Sport | Getty Images The National Basketball Association and National Hockey League are concerned over Diamond Sports’ future, and

Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Almost five years ago, GameStop champion Keith Gill revealed a $53,000 bet in his favorite video game retailer. Fast forward to this week, and his net worth has ballooned to over $289 million. The meme stock leader, who can move the stock by simply posting

Ford Motor is turning an abandoned train station used for decades as an infamous symbol of Detroit’s downfall and blight into a new technology campus for the automaker and mixed-use property for the city. Michael Wayland / CNBC DETROIT – Ford’s latest project out of the Motor City is the restoration and reopening of an abandoned

Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images E-Trade is having internal discussions about whether to ban Keith Gill — the meme stock trader who just disclosed a big position in GameStop — from the trading platform over concerns regarding potential market manipulation, The Wall Street Journal reported Monday. The brokerage, owned by

A Jeep Wrangler plug-in hybrid electric vehicle (PHEV) during the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 5, 2023. Stephanie Keith | Bloomberg | Getty Images NEW YORK – Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as

Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a “large and underserved” market of some 2.8 million British “digital nomads.” Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images PARIS — Dutch digital bank Bunq is hoping it will manage to secure a banking license from U.K. financial regulators

With a parade of new models and a marketing tailwind from Formula 1, sports carmaker Aston Martin expects to become cash-flow positive this year, according to Executive Chairman Lawrence Stroll. “We’re now at a really transitional moment, with an inflection point for this company,” Stroll told CNBC. “We’re introducing all our products, finally, after designing

Tourists line a street in Venice, Italy, on Saturday, March 16, 2024. Venice collected €37 million in overnight tourist taxes in 2023, with hotels charging guests anywhere between €1 and €5.  Nathan Laine | Bloomberg | Getty Images Bellagio, Lake Como, Italy — When boat drivers start complaining about the tourists overrunning this famous lakeside

The FDA has approved Moderna’s RSV vaccine for older adults. Courtesy: Moderna The Food and Drug Administration on Friday approved Moderna’s vaccine for respiratory syncytial virus for adults ages 60 and above, the company’s second-ever product to enter the U.S. market.  The decision is a win for Moderna, which desperately needs another revenue source amid

VanEck CEO Jan van Eck sees a major sentiment shift underway in the cryptocurrency market linked to the U.S. Securities and Exchange Commission’s approval of a rule change allowing for Ethereum exchange-traded funds. “This is really one of the most amazing things that I’ve seen in my career with respect to securities regulation,” van Eck

Oscar Wong | Moment | Getty Images When Adam Moelis co-founded a fintech startup named Yotta in 2019, he wanted to give Americans a new way to save money to help them cushion the ups and downs of life. Instead, his company has inadvertently been a source of deep pain for thousands of customers who

Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023. Adam Jeffery | CNBC Billionaire investor Bill Ackman is selling a 10% stake in Pershing Square, aiming to eventually take his investment firm public. Ackman’s firm is raising $1.05 billion in a funding round,