Corporate/Finance

  • Volkswagen Group North America CEO Kjell Gruner
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    Provided by Volkswagen Group 

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    Volkswagen names Rivian exec as its North America CEO

    Kjell Gruner takes over Dec. 12 for Pablo Di Si, who stepped down from the post, according to the company. 

    By • Nov. 22, 2024
  • An aerial view of BorgWarner's Seneca, South Carolina facility.
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    Courtesy of BorgWarner
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    BorgWarner CEO to retire, successor named

    Frédéric Lissalde has been in the top leadership role since 2018. Now, he will hand the reins to Joseph Fadool.

    By • Nov. 22, 2024
  • General Motors GM headquarters Detroit
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    Bill Pugliano via Getty Images
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    GM cuts hundreds of jobs across the globe

    The layoffs will impact UAW workers and the automaker’s Michigan tech center.

    By • Nov. 20, 2024
  • A silver Lucid Gravity electric SUV parked in front of a cantilevered building with blue sky in the background.
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    Courtesy of Lucid Group, Inc.
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    Lucid opens Gravity orders in bid to reshape SUV market

    The company will begin with production of the $94,900 Grand Touring trim, which has a range of over 440 miles.

    By • Nov. 20, 2024
  • Shot of Rivian EV truck in a parking lot on Aug. 2023
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    Justin Sullivan via Getty Images
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    Rivian CFO inks $3.5M trading plan as EV industry faces bumps

    President-elect Trump will likely ax the tax credit on electric vehicles, which could significantly impact competition in the segment.

    By Grace Noto • Nov. 20, 2024
  • 2024 Honda CR-V Sport Touring.
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    Courtesy of American Honda Motor Co.
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    Honda weighs production pivot ahead of potential tariffs

    The automaker is committed to ramping up U.S. electric vehicle production despite the incoming Trump administration's tariff threats, an executive said.

    By • Nov. 18, 2024
  • Two salesperson inside a car showroom
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    Shutterstock / DC Studio

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    Sponsored by Yooz

    How AP automation drives resilience in the automotive sector

    Enhance automotive operations and cut costs by streamlining the process and improving accuracy.

    By John Gronen • Nov. 18, 2024
  • Hyundai Palisade on the road
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    Artistic Operations via Getty Images
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    Hyundai shakes up C-suite to drive growth

    The global company made nine executive moves, including the promotion of presidents and CEOs to lead Hyundai Motor Co. and Kia Corp.

    By • Nov. 15, 2024
  • A person sits at a park table, working on a laptop and wearing ear buds.
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    Cindy Ord / Staff via Getty Images
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    Remote workers say they miss out on promotions — but they don’t want RTO

    United Culture noted that employees continue to favor workplace flexibility, highlighting “a disconnect between what leaders and their employees want.”

    By Kathryn Moody • Nov. 15, 2024
  • A man in glasses in front of a white car and a screen on stage.
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    Phillip Faraone for Rivian via Getty Images
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    Volkswagen, Rivian launch their $5.8B joint venture

    The announcement lifts the veil on one of the largest automotive deals this year, providing more details on its goals, leadership and financial structure.

    By • Nov. 13, 2024
  • Hand holding Saphire Preferred credit card reaches to tap the card at a fuel pump.
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    Justin Sullivan via Getty Images
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    Average salary increases are sloping downward, survey shows

    More companies returned to the “typical” salary increase range of 3% to 3.9% in 2024, Salary.com found.

    By Emilie Shumway • Nov. 13, 2024
  • A production operator at Stellantis' Detroit Assembly Complex loads a door frame for a Jeep Grand Cherokee.
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    Courtesy of Stellantis
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    Stellantis to lay off 400 workers at Detroit material logistics facility

    The latest job cuts follow last week’s lay off announcement of 1,100 UAW-represented employees at the automaker’s Toledo South Assembly Plant in Ohio.

    By • Nov. 12, 2024
  • Americans car loan debt Edmunds
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    Justin Sullivan via Getty Images
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    Rising share of consumers owe more on their cars than they’re worth

    At least one in five consumers had negative equity of more than $10,000 in Q3, according to Edmunds research.

    By Kalena Thomhave • Nov. 8, 2024
  • Federal Reserve Chair Jerome Powell.
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    Scott Olson via Getty Images
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    Fed cuts rate by quarter point, sees ‘balanced’ risks to inflation, jobs

    The reduction in borrowing costs came just two days after Donald Trump won a second term as president, heralding likely economic policy shifts.

    By Jim Tyson • Nov. 8, 2024
  • The front badge of the Nissan Aiyra electric SUV.
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    Courtesy of Nissan Motor Co. Ltd
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    Nissan plans to cut 9,000 jobs as it slashes global production

    CEO Makoto Uchida said the cost-cutting move is in response to weak sales and a 90% drop in operating profit. 

    By • Nov. 7, 2024
  • A man stands in front of a podium in a suit.
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    Bill Pugliano via Getty Images
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    Automotive groups react to Donald Trump’s victory

    Companies say they are now turning their focus on policies to protect and grow jobs.

    By • Nov. 7, 2024
  • The 2025 Toyota RAV4 hybrid SUV.
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    Courtesy of Toyota Motor North America
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    Toyota’s Q2 profit falls by $1.8B, its first quarterly decline in 2 years

    The automaker cited several factors for the decline, including uncertain economic conditions, market demand and a more competitive environment.

    By • Nov. 7, 2024
  • Two workers at Stellantis's Toledo, Ohio Assembly Complex installing the windshield on a blue Jeep Gladiator.
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    Courtesy of Stellantis
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    Stellantis to lay off 1,100 at its Toledo South Assembly Plant

    The layoffs are effective as early as Jan. 5, 2025. The automaker called it a “necessary action to reduce high inventory levels.”

    By • Nov. 7, 2024
  • Republican presidential nominee former U.S. President Donald Trump speaks at a campaign rally at the Johnny Mercer Theatre on September 24, 2024 in Savannah, Georgia.
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    Brandon Bell via Getty Images
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    4 employment actions to expect under a second Trump presidency

    Employers are likely to see immigration raids, agency chair replacements and a slowing in regulatory activity, experts at Littler predicted.

    By Emilie Shumway • Nov. 6, 2024
  • Subaru WRX dealer lot
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    jetcityimage via Getty Images
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    Subaru anticipates 15% drop in 2025 profits

    The automaker reported a 20% sales decrease — including a 10% decline in the U.S. — during the first half of its fiscal year.

    By • Nov. 6, 2024
  • A red 2024 Volkswagen Tiguan SUV driving on a highway.
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    Courtesy of Volkswagen Group
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    Volkswagen’s Q3 revenue drops by 41.7% YoY

    The automaker attributed the decline to slowing sales in the China market, restructuring expenses for its passenger cars business and investments in new products.

    By • Nov. 5, 2024
  • Stellantis Dodge Charge Daytona SRT
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    Provided by Stellantis

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    Stellantis Q3 year-over-year revenue nosedives 27%

    The automaker shipped fewer new vehicles during the quarter as it prioritizes EV rollouts and selling excess inventory.

    By • Nov. 4, 2024
  • A corporate photo of Ford Integrated Services CEO Peter Stern.
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    Courtesy of Ford Motor Co.
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    Ford Integrated Services unit chief departs for Peloton

    Peter Stern's team was tasked with building out the automaker’s BlueCruise hands-free highway driving system and other key technology projects.

    By • Updated Nov. 11, 2024
  • A view of office buildings on October 27, 2022 in San Francisco, California.
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    Justin Sullivan via Getty Images
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    Employers willing to pony up for in-office work, Robert Half says

    Companies are offering return-to-office premiums of up to 20% for new hires, the consulting firm’s recent managers’ survey found.

    By Ryan Golden • Oct. 31, 2024
  • A woman speaks to colleagues on a video connection.
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    SDI Productions via Getty Images
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    More than half of older US workers say ageism hinders their hiring

    Few workers over age 50 feel optimistic about their job search in coming months, a new report shows.

    By Carolyn Crist • Oct. 30, 2024