Business News

Ford shares fall 12% after earnings underline worries about costs and EV plans Ford stock is trading sharply down after the automaker reported earnings that fell short of estimates. While Ford was the first of the Detroit automakers to reach a tentative deal with the UAW, the new contract will raise Ford’s already-high costs if […]

Ford said customers in North America are unwilling to pay a premium for an EV. The company, in turn, is postponing about $12 billion in EV manufacturing investment. Ford’s Model e EV unit lost about $3.1 billion through three quarters this year. Ford Motor said Thursday that many customers in North America are no longer willing […]

Shares of the United Parcel Service closed 6% lower Thursday after the company reported a bigger-than-expected revenue decline and cut its revenue guidance for the year. The stock hit a new 52-week low. Here’s how the company performed compared to Wall Street estimates: Adjusted earnings: $1.57 vs. $1.52 per share expected, according to LSEG, formerly known […]

Citigroup (C) is stripping out five layers of management. US Bancorp (USB) is pledging to shrink its balance sheet so it can sidestep stricter banking regulations. Truist (TFC) is trying to save hundreds of millions by completing what it called “sizable reductions in force.” Citigroup (C) is stripping out five layers of management. US Bancorp (USB) […]

Netflix is raising prices on certain subscription plans. The plan will affect two of the streamer’s ad-free plans. The price hike comes after a password crackdown and successful third quarter at Netflix. Your Netflix monthly bill might be about to go up — again. The streaming giant is rolling out price increases for subscribers in […]

WASHINGTON. — Charles and Kathleen Moore are about to have their day in the Supreme Court over a $15,000 tax bill they contend is unconstitutional. The couple from Redmond, Washington, claim they had to pay the money because of their investment in an Indian company from which, as Charles Moore, 62, said in a sworn […]

Taylor Swift fans had just eight hours to buy tickets for last-minute Thursday night previews of her The Eras Tour concert film. The result was $2.8 million in ticket sales. While the figure is low in comparison to blockbuster releases from Marvel, DC and Star Wars, it reflects the fact that film wasn’t originally slated […]

Pharmacy staff from Walgreens are laying the groundwork for a nationwide walkout and multiple rallies at the end of October to protest unsatisfactory working conditions, and are in talks with employees from other retail pharmacies about joining them, CNBC has learned. Those efforts, which are still in the planning stages, reflect the growing discontent among retail pharmacy staff, who have complained […]

JPMorgan Chase on Friday topped analysts’ estimates for third-quarter profit and revenue as the bank generated more interest income than expected, while credit costs were lower than anticipated. Here’s what the company reported: Earnings: $4.33 a share Revenue: $40.69 billion, vs. $39.63 billion LSEG estimate The bank said profit surged 35% to $13.15 billion, or $4.33 a share, from a […]