Volkswagen has walked away from talks with Renault to jointly develop an affordable electric version of the Twingo car, two sources familiar with the situation said, in a setback for the EU carmakers’ efforts to fend off Chinese rivals.
Global equity funds experienced strong demand for the third consecutive week, in the seven days to May 15, bolstered by a softer U.S. jobs report and lower-than-expected inflation figures, which increased expectations that the Federal Reserve may begin cutting rates this year.
GameStop expects first-quarter net sales to drop from a year ago, as customers transition to buying video games and collectibles online, while the retailer largely relies on brick and mortar stores.
General Motors and South Korea’s LG Energy Solution , LG Electronics reached a settlement to establish a $150 million fund to provide relief to Chevrolet Bolt EV owners affected by defective batteries, documents filed in a U.S. court on Thursday showed.
The U.S. Supreme Court’s decision safeguarding the Consumer Financial Protection Bureau – the nation’s consumer finance watchdog – earned plaudits from supporters of robust federal regulation. But their praise for the court may prove short-lived.
Shares of Reddit rose 14% on Friday, following a partnership with artificial intelligence firm OpenAI that is expected to draw in more users for the social media platform with AI-enhanced experience and attract more advertising revenue.
The Bank of Canada would be willing to cut interest rates three times ahead of the Federal Reserve’s first move before a declining currency threatens to endanger the inflation outlook, the median estimate of seven analysts in a straw poll showed.
Endeavor Group’s decision to deny minority shareholders the ability to veto a $13 billion deal to take the entertainment conglomerate private is the latest example of a company’s controlling investors risking lawsuits to avoid paying a higher deal price.
U.S. investment bank Goldman Sachs is muscling into the lending market for private equity and asset managers, planning an overseas expansion as it helps fill a void left by turmoil at regional banks and the sale of Credit Suisse.
