AUBURN HILLS, Mich. — Stellantis said Thursday it plans to invest 60 billion euros (US$69.7 billion) under a new five-year strategic plan by CEO Antonio Filosa that also targets annual cost savings of 6 billion euros by 2028. The plan includes putting 36 billion euros toward the company’s massive portfolio of automotive brands to launch…
Bahrain Minister of Industry and Trade Abdulla bin Adel Fakhro, attends the session held as part of the St. Petersburg International Economic Forum (SPIEF) in 2024. Anadolu | Anadolu | Getty Images The trade deal between the U.K. and Gulf states is a “monumental achievement,” Bahrain’s industry minister told CNBC. Abdulla bin Adel Fakhro, Bahrain’s…
Customers shop at a Walmart store on May 13, 2026 in Chicago, Illinois. Scott Olson | Getty Images With all eyes on the health of the U.S. consumer, Walmart‘s fiscal first-quarter earnings report Thursday morning may offer Wall Street some of the best clues yet. The big box retailer is expected to report another quarter…
Amazon executive chairman Jeff Bezos said a controversial tax strategy used by the wealthy to borrow against assets to lower their income taxes is largely a “myth.” “There’s no truth to this ‘buy, borrow, die’ thing,” Bezos told CNBC’s Andrew Ross Sorkin Wednesday in a wide-ranging interview. “I don’t even know where this comes from.” The “buy,…
Airplanes are seen on the runway at LaGuardia Airport amidst mass travel delays, on March 28, 2026 in New York, New York. Ryan Murphy | Getty Images A sinkhole at New York’s LaGuardia Airport shut down a runway on Wednesday and is set to delay flights, local officials said. The Port Authority of New York…
E.l.f. Beauty is planning to walk back some of the tariff-fueled price increases it implemented less than a year ago after the retailer has seen a slide in demand that’s ramped up in recent months as consumers contend with higher gas prices. “Whenever you take a price increase that’s that big, you’re going to see…
2027 Ram 1500 Rumble Bee SRT. Courtesy Ram Trucks DETROIT — Stellantis plans to launch a lineup of what it’s calling “muscle trucks” for its Ram brand despite high U.S. gas prices due to the Iran war. The automaker on Wednesday said the Rumble Bee pickup trucks will feature V-8 engines, special parts and designs,…
A Wendy’s restaurant sign is seen on Nov. 10, 2025 in Austin, Texas. Brandon Bell | Getty Images Wendy’s has tapped Bob Wright as its latest chief executive, the company said Wednesday. The announcement comes on the heels of the struggling burger chain reporting its fifth straight quarter of same-store sales declines and rumors of…
Lowe’s on Wednesday reported quarterly results that beat expectations on the top and bottom lines and reaffirmed its full-year outlook. Revenue jumped about 10% compared with the previous year. Comparable sales increased 0.6% for the quarter, driven by what Lowe’s said was its spring execution and a 15.5% growth in online sales. “Roughly 60% to…
The founder of Authentic Brands Group, the management firm behind dozens of retail and media names including Reebok, Champion and Brooks Brothers, said he expects to take the company public in the next 12 months as he announced a former Wynn Resorts CEO will be its next chief executive. In an exclusive interview with CNBC’s…