A Carvana used-car vending machine displays vehicles in Miami, Dec. 9, 2022. Joe Raedle | Getty Images Shares of Carvana plummeted 14.2% Wednesday following short-seller accusations that the online used retailer overstated earnings with the help of businesses controlled by CEO Ernie Garcia III’s family. Gotham City Research alleged Wednesday that the online used car…
Elon Musk is eyeing a blockbuster SpaceX IPO sometime in June, according to financial Times. The billionaire reportedly wants the offer to coincide with both his birthday (June 28) and rare alignment of Mercury, Venus and Jupiter (occurring in early June). However, whenever it does happen, SpaceX’s IPO will likely be one of the largest…
OVER THE PACIFIC OCEAN — The 112 passengers on this Southwest Airlines red-eye flight from Honolulu to Los Angeles were the last in the airline’s more than 54-year history to scramble for a seat on board. Before dawn on Tuesday, Southwest ended its quirky (or anxiety-inducing, depending on the traveler) open-seating policy in favor of…
A view of the snow covered streets as heavy snowfall blanketed Washington, D.C. on Jan. 26, 2026. Celal Gunes | Anadolu | Getty Images The U.S. government is on the brink of a partial shutdown beginning at 12:01 a.m. ET Saturday in large part because of a second recent killing of a U.S. citizen by…
General Motors Chevrolet Traverse sport utility vehicles sit on the assembly line at the company’s Lansing Delta Township Assembly Plant in Lansing, Michigan, Feb. 21, 2020. Jeff Kowalsky | Bloomberg | Getty Images DETROIT — General Motors expects to outproduce crosstown rival Ford Motor to become the top assembler of vehicles in the U.S. in…
A worker drives a United Parcel Service (UPS) truck on Oct. 28, 2025 in Los Angeles, California. Mario Tama | Getty Images United Parcel Service on Tuesday announced that it was planning to eliminate an additional 30,000 jobs this year as part of winding down its partnership with Amazon and a multi-year turnaround plan. CFO…
A Boeing Co. 737 Max airplane at the company’s manufacturing facility in Renton, Washington, US, on Thursday, Nov. 20, 2025. David Ryder | Bloomberg | Getty Images Boeing reported revenue ahead of Wall Street expectations for the fourth quarter as the company’s turnaround picked up steam following years of crises. The company’s airplane deliveries last…
The General Motors global headquarters in Detroit, Jan. 12, 2026. Jeff Kowalsky | Bloomberg | Getty Images DETROIT – General Motors beat Wall Street’s fourth-quarter earnings expectations Tuesday, while guiding for another year of “strong financial performance.” The Detroit automaker, which slightly missed revenue expectations, also announced a 20% increase in its quarterly dividend and…
U.S. President Donald Trump and CEO of Ford Jim Farley clap, as President Trump visits a Ford production center, in Dearborn, Michigan, U.S., January 13, 2026. Evelyn Hockstein | Reuters DETROIT — The only consistency has been inconsistency for the U.S. automotive industry during the first half of this decade — a trend that’s expected…
Airplanes on the tarmac during a snow storm at Ronald Reagan Washington National Airport in Arlington, Virginia, US, on Monday, Jan. 6, 2025. Ting Shen | Bloomberg | Getty Images Airlines canceled more than 1,300 flights scheduled for Friday as a massive winter storm sweeps across the U.S. with heavy snow and sleet in the…
