Xpeng CEO He Xiaopeng stands next to the company's P7 electric sedan as he addresses media at the 2020 Beijing auto show.Evelyn Cheng | CNBCBEIJING — Chinese electric car maker Xpeng forecast it will deliver far fewer cars than rival start-up Nio in the first three months of the year.New York-listed Xpeng announced overnight it…
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A GameStop store in the Koreatown area of Los Angeles. Jim Bell, the company’s chief financial officer, who joined the company in mid-2019, is leaving.Credit...Philip Cheung for The New York TimesGameStop’s chief financial officer, Jim Bell, is leaving the company in late March, following a stock-trading frenzy that briefly sent shares in the video game…
Hong Kong (CNN Business)HSBC is pushing even harder into Asia as the bank seeks to shore up its business in the wake of the coronavirus pandemic and ongoing tensions between the United Kingdom and China. It's also bringing back its dividend, a sign that it's optimistic about its ability to navigate the year ahead. The…
Lucid Motors reached an agreement to become a publicly traded company through a merger with special-purpose acquisition company Churchill Capital IV Corp, in the largest deal yet between a blank-check company and electric vehicle startup. The combined company, in which Saudi Arabia’s sovereign fund will continue to be the largest shareholder, will have a transaction…
Walmart Inc. said it would raise wages for about 425,000 of its employees after a year in which the Covid-19 pandemic boosted its business and demand for workers who handle online orders. The company reported strong holiday sales but predicted slower growth and higher spending this year. U.S. comparable sales, or those from stores and…
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Automakers and pure play electric vehicle makers got a boost this week by President Joe Biden’s “Buy American” plan.Video TranscriptSEANA SMITH: Hey, Dan, I also want to ask you about Tesla, because that stock also off just around 2% today. Bears are pointing to the miss that they reported on earnings about that they reported…
CEO of Tesla Motors Elon Musk. Brendan McDermid | Reuters Bitcoin's value jumped more than 20% to $38,566 on Friday after Elon Musk, the world's richest person, changed his personal Twitter bio to #bitcoin, fueling speculation that he had bought more of the cryptocurrency. Less than 24 hours earlier, the billionaire appeared to prompt shares…
New York (CNN Business)Walmart plans to build automated mini-warehouses in dozens of its stores to speed up customers' online delivery and curbside pickup orders in a race against Amazon.Walmart announced Wednesday that it will add dozens of 20,000 square-foot to 30,000 square-foot automated fulfillment centers in the coming years, either in the backrooms of its…