Tesla and SpaceX’s CEO Elon Musk reacts during an in-conversation event with British Prime Minister Rishi Sunak in London on Nov. 2, 2023. Kirsty Wigglesworth | Reuters Tesla shares tumbled more than 10% Thursday, a day after the company reported earnings that missed expectations and warned of a slowdown in […]
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The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back
The economy grew at a much more rapid pace than expected while inflation eased in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable, the Commerce Department reported Thursday. Gross domestic product, a measure of all the goods and […]
Microsoft lays off 1,900 workers, nearly 9% of gaming division, after Activision Blizzard acquisition
Microsoft CEO Satya Nadella listens to an audience member’s question during the company’s annual shareholder meeting in Bellevue, Washington, Nov. 30, 2016. Stephen Brashear | Getty Images News | Getty Images Microsoft will lay off around 1,900 employees in its Gaming unit, or around 9% of Microsoft Gaming’s headcount, according […]
GM, Honda begin U.S. fuel cell production in step toward replacing diesel
An employee assembles a fuel cell system in the module final assembly at Fuel Cell System Manufacturing LLC, GM and Honda’s fuel cell joint venture in Brownstown, Michigan. Courtesy image BROWNSTOWN, Mich. – General Motors and Honda Motor have begun commercial production of hydrogen fuel cell systems in a step […]
The U.S. economy grew at a 3.3% pace in the fourth quarter, much better than expected
The economy grew much more rapid pace than expected in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable, the Commerce Department reported Thursday. Gross domestic product, a measure of all the goods and services produced, increased at a […]
European Central Bank holds rates steady, gives no hint at cuts ahead
The European Central Bank on Thursday held interest rates unchanged, and reiterated it would keep them high for a “sufficiently long duration” to bring inflation to target. The central bank is holding steady for the third straight meeting, after hiking its deposit rate to 4% in September. It said that […]
Southwest Airlines takes Boeing Max 7 out of 2024 plans because of certification delays
Southwest Airlines ranked as the second-best domestic airline, according to Bounce’s 2023 Airline Index. Aaronp/bauer-griffin | Gc Images | Getty Images Southwest Airlines has taken the Boeing 737 Max 7 out of its fleet plans as regulators haven’t yet certified the smallest model of the manufacturer’s best-selling plane. Southwest became […]
Comcast tops revenue and profit estimates despite broadband subscriber losses, raises dividend by 7%
Omar Marques | Lightrocket | Getty Images Comcast topped both revenue and profit estimates in the fourth quarter as it lost fewer broadband subscribers than expected, and it raised its dividend 7%, the company said Thursday. Here’s how Comcast performed, compared with estimates from analysts surveyed by LSEG, formerly known as […]
Tesla shares drop 8% after company warns of slowdown in 2024
Tesla and SpaceX’s CEO Elon Musk reacts during an in-conversation event with British Prime Minister Rishi Sunak in London on Nov. 2, 2023. Kirsty Wigglesworth | Reuters Tesla shares fell in pre-market trade on Thursday, after the company reported earnings that missed expectations and warned of a slowdown in 2024. […]
Alaska Airlines says Boeing 737 Max 9 grounding will cost it $150 million
Alaska Airlines N704AL, a 737 Max 9, which made an emergency landing at Portland International Airport on January 5 is parked at a maintenance hanger in Portland, Oregon on January 23, 2024. Patrick T. Fallon | AFP | Getty Images Alaska Airlines said Thursday that the weekslong grounding of the […]