Bill Ford is doubling down on Ford shares and amassing more control of the company

Incoming Ford CEO Jim Farley (left) and Ford Executive Chairman Bill Ford Jr. pose with a 2021 F-150 during an event Sept. 17, 2020 at the company’s Michigan plant that produces the pickup. Michael Wayland | CNBC DETROIT – Ford Motor Chair Bill Ford has been slowly amassing more shares, and control, of the automaker […]

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Dow drops 200 points Friday as bank stocks get hit, market posts second losing week to start 2022

Major bank stocks declined after their earnings reports on Friday, weighing on the U.S. markets as Wall Street notched a second straight negative week to start the year. The Dow Jones Industrial Average slid 201.81 points, or 0.56%, to 35,911.81. The S&P 500 inched up 0.08% to 4,662.85, while the tech-heavy Nasdaq Composite outperformed with […]

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Ford’s market cap tops $100 billion for first time ever

Ford Motor Co. CEO Jim Farley walks to speak at a news conference at the Rouge Complex in Dearborn, Michigan, September 17, 2020. Rebecca Cook | Reuters DETROIT – Ford Motor’s market value topped $100 billion for the first time ever as the automaker’s stock hit a new 52-week high Thursday. The company’s shares jumped […]

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U.S. announces sanctions after North Korea missile launches

People watch a TV broadcasting file footage of a news report on North Korea firing what appeared to be a pair of ballistic missiles off its east coast, in Seoul, South Korea, September 15, 2021. Kim Hong-Ji | Reuters WASHINGTON – The Biden administration announced Wednesday that it was imposing sanctions on eight people and […]

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Why US may not be able to deter Russia with sanctions

Slapping sanctions on Russia may not be helpful in resolving tensions with the U.S. over Ukraine, two experts said on Tuesday. “Sanctions don’t work on Russia,” said Tony Brenton, a former British ambassador to Russia. “Russia just becomes even more obdurate.” In response, the West also gets more stubborn, he added. “And you’re that little […]

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Nasdaq rallies on Monday afternoon to snap losing streak, erasing loss of more than 2%

U.S. stocks staged an afternoon rally on Monday as major tech stocks reversed earlier losses, helping the Nasdaq Composite snap a four-day losing streak. The Nasdaq closed with a gain of 0.05% at 14,942.83 after falling more than 2% earlier in the day. The S&P 500 closed down 0.14% at 4,670.29 and the Dow Jones […]

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Tesla owner mines bitcoin, ethereum with his car

Tesla owner Siraj Raval uses his Model 3 to mine for cryptocurrencies. Siraj Raval Siraj Raval has tried just about every way there is to mine for cryptocurrencies from his 2018 Tesla Model 3. He’s run free bitcoin mining software on his Apple Mac mini M1 and powered the computer by plugging an inverter into […]

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Saudi Arabia hires PR veteran and former Katie Couric producer for media consulting

Saudi Crown Prince Mohammed bin Salman speaks during the Gulf Summit in Riyadh, Saudi Arabia, December 14, 2021. Bandar Saudi Press Agency | Handout | Via Reuters The Kingdom of Saudi Arabia has hired a public relations executive who was once a producer for news anchor Katie Couric to work as a media-relations consultant. Nicolla […]

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China’s property problems spread to once-healthy developers like Shimao

InterContinental Shanghai Wonderland, a luxury hotel developed by Shimao and managed by IHG, opened in 2018 and is pictured here on Oct. 11, 2020. Costfoto | Future Publishing | Getty Images BEIJING — One of China’s healthiest real estate developers has reportedly defaulted, a sign of how more pain is ahead for the heavily indebted […]

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Hedge funds are selling tech shares at their fastest pace in a decade as rates spike

Surging bond yields have triggered hedge funds to sell growth-focused technology shares at a speed not seen in the past decade. The hedge fund community dumped tech stocks in the four sessions between Dec. 30 and Tuesday as interest rates spiked. The four-session tech unloading marked the biggest sale in dollar terms in more than […]

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