Akio Toyoda, Chairman of Toyota Motor Corporation. Yoshikazu Tsuno | Gamma-rapho | Getty Images Toyota Motor is investing $1.3 billion in a Kentucky plant to produce a new all-electric, three-row SUV for the U.S. market, the company said Tuesday. The vehicle is expected to go into production between late 2025 […]
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48-year-old started with $75,000 in savings and multiple maxed-out credit cards—and built a $1.1 billion company
Vita Coco started with a leap of faith, a $75,000 investment and “several” maxed-out credit cards. Today, the bestselling coconut water company is worth $1.1 billion. But it wasn’t born out of a Silicon Valley startup lab. Rather, co-founders Michael Kirban and Ira Liran first thought about going into the […]
Appeals court denies Trump immunity in 2020 criminal election case
Donald Trump is not immune from criminal prosecution for efforts to reverse his loss in the 2020 presidential election, a federal appeals court said in a unanimous ruling Tuesday. A three-judge appeals panel flatly rejected Trump’s argument that he could not be charged in the case because he was president at […]
Credit card delinquencies surged in 2023, indicating ‘financial stress,’ New York Fed says
Adam Gault | OJO Images | Getty Images Credit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Federal Reserve reported Tuesday. Debt that has transitioned into “serious delinquency,” or 90 days or more past due, increased across multiple categories […]
Adam Neumann is trying to buy WeWork, but Third Point says financing not committed
Adam Neumann wants to buy real estate company WeWork, the company he co-founded in 2010 that ousted him nine years later, out of bankruptcy citing the support of “well-known capital sources” including Dan Loeb’s Third Point. But the hedge fund told CNBC that it had not committed any financing and […]
Appeals court denies Trump immunity in DC election case
Former President Donald Trump does not have presidential immunity from prosecution on criminal charges related to his efforts to overturn his 2020 election loss, a federal appeals court unanimously ruled Tuesday. “We cannot accept that the office of the Presidency places its former occupants above the law for all time thereafter,” […]
Meta says it will identify more AI-generated images ahead of upcoming elections
Meta Platforms CEO Mark Zuckerberg arrives at federal court in San Jose, California, on Dec. 20, 2022. David Paul Morris | Bloomberg | Getty Images Meta said Tuesday it is expanding its effort to identify images doctored by artificial intelligence as it seeks to weed out misinformation and deepfakes ahead […]
Palantir shares rocket 25% after revenue beat, strong demand for AI
The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland Januar 22, 2020. Arnd Wiegmann | Reuters Shares of Palantir popped more than 25% Tuesday, a day after the company released fourth-quarter earnings that surpassed analysts’ expectations for revenue and showed strong demand for its artificial intelligence […]
DocuSign to lay off 6% of workforce, or about 440 jobs
The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021. Tiffany Hagler-Geard | Bloomberg | Getty Images DocuSign announced Tuesday it will cut 6% of its workforce as part of a restructuring plan that aims to improve the company’s “financial and operational efficiency,” according […]
Adam Neumann is trying to buy bankrupt WeWork, DealBook reports
Adam Neumann, Founder and former CEO of WeWork. Eduardo Munoz | Reuters Billionaire Adam Neumann is trying to buy back bankrupt real-estate company WeWork, which he founded in 2010 and was ousted from in 2019, DealBook reported Tuesday. Neumann, his startup Flow and Dan Loeb’s Third Point fund have “consistently […]