24/7 Wall St.

The EV Sector Can’t Stop Burning CashIn our discussion, we highlight Lucid (NASDAQ: LCID) Motors’ dire financial situation despite producing 2,110 cars in the second quarter. The company has suffered substantial losses, with its stock down 85% over the past two years and billions of dollars in shareholder value wiped out. We conclude that Lucid’s […]
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This Company Is Headed For Bankruptcy

Bowie, MD

A Honda dealership in Bowie, Maryland is facing civil charges after it allegedly engaged in “unfair or deceptive trade practices at nearly every stage” of new vehicle sales, according to Maryland Attorney General Anthony Brown. Suggested Reading. The July lawsuit from the AG’s office alleges the dealership –...

Honda Dealership Facing Civil Charges For ‘Unfair Or Deceptive’ Sales Tactics

NBC News

DETROIT — Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as the company attempts to reduce costs and boost profits. In an email to employees Tuesday morning, the company said it would offer a voluntary separation program to non-union U.S. employees...

Stellantis to offer broad buyouts to U.S. salaried workers, warns of possible layoffs

You know how sometimes you set yourself a challenge you know might hurt, then get a third of the way into the challenge and realize, "This is, um, too much hurt?" That might be what's happened at Stellantis. In May 2021, CEO Carlos Tavares said at the Financial Times' Future of the Car event, "We're giving each (brand) a chance, giving each a time window of 10 years and giving funding for 10 years to do a core model strategy. The CEOs need to be clear in brand promise, customers, targets, and brand communications." With results for the first half of 2021 hitting Stellantis with a 48% drop in net income, Tavares started firing public warning shots to some the conglomerate's 14 brands, underlined with, "If they don't make money, we'll shut them down." Analysts began writing about the suddenly shaky ground under Italian brand Lancia and French brand DS, while Maserati took the brunt of the hit, Stellantis CFO Natalie Knight saying, "There could be some point in the future when we look at what's the best home for [Maserati]."

Stellantis CEO Tavares calls out problems in the U.S. market, including at Ram

Archer has announced an agreement in principle on key terms for its contract manufacturing relationship with Stellantis. Building on the nearly US$300 million Stellantis has already invested, including US$55 million in July 2024, the company plans to fund additional costs to support Archer's manufacturing goals. Stellantis will finance up to...

Archer secures fresh investment from Stellantis

Business Insider

Plenty of the jobs on Indeed's list of the top ones "waiting for you to apply" don't require a bachelor's degree.

7 fast-growing jobs that are desperate to hire

A Wells Fargo executive has been ordered to leave the banking industry after draining tens of thousands of dollars from customer deposit accounts. The Office of the Comptroller of the Currency (OCC) is issuing a consent order against ex-Wells Fargo operations associate manager Cindy M. Flores for violating laws and engaging in unsafe and unsound practices.

$47,646 Drained From Customers’ Accounts at Wells Fargo As Rogue Executive Mounts Year-Long Campaign To Steal Cash: US Bank Regulator

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NewsNinja

A lady is cautioning others about purchasing budget earrings from Amazon, Shein, and H&M, after she experienced keloid formations on her earlobes due to wearing them. On a TikTok post that has garnered more than 334,000 likes, Sailor Rozema (@sailor.rozema), a content creator, shares a warning with her community of "dangly earring girls": the inexpensive jewelry found in fast fashion can have negative impacts on your well-being.

‘I’ll never be wearing earrings for the rest of my life’: Customer warns against buying from Shein

Economic concerns could push CEOs to conduct layoffs and cut back on perks such as remote work.

Get ready for nasty layoffs and say goodbye to the 4-day workweek

Motor1.com

It is extremely difficult to not be charmed by the Ineos Grenadier’s old-school persona at a glance. That’s deeply intentional; When Ineos chairman Sir Jim Ratcliffe couldn’t buy the rights to produce the original Defender after Land Rover discontinued the model in 2016, he simply decided to replace it. That explains the Landie-like two-box styling, squared-off wheel arches, and a full-time four-wheel-drive system. It looks like a 1990s Defender 110 with a dash of Cyberpunk 2077 thrown in, and it turns heads.

The Ineos Grenadier Is Too Old-School for Its Own Good

Hyundai has recalled the 2024 Santa Fe over a wiring problem that could deploy airbags at random. The same issue might cause the airbags to stop working altogether, meaning they may not deploy in the event of an accident. A total of 49,719 vehicles are affected, including 40,144 standard combustion SUVs and 9,575 hybrid models.

Hyundai Recalls 50,000 Cars for Airbags That Could Randomly Deploy

Only one of 12 built, I took a ride in the massive 1939 Futurliner back in 2021, which was a good time. Few vehicles turn heads like General Motors's Futurliner. Built in the 1930s, the fleet of a dozen streamliners showcased American industrial might and GM's technological prowess. They toured across North America, taking a break for WWII, with the fleet of buses parked for good after 1956. From there, each Futurliner had its own journey to eventual restoration, dilapidation, or obscurity.

This Might Be Your Only Chance to Own GM's Ultra-Rare Pre-War Creation

The Motley Fool

Procter & Gamble is a dividend stock that is worth paying up for today.

Coca-Cola Is a Rock-Solid Dow Dividend Stock, but So Is This Dividend King That Plans to Pay $10 Billion in Dividends Over the Next Year.

Mediaite

A $10 million cash withdrawal in Cairo made just days before former President Donald Trump took office in January 2017 triggered a secretive Justice Department investigation that sought to uncover whether he received financial support from Egypt’s government. The investigation, revealed in an exclusive report by The Washington Post...

Mysterious $10 Million Cash Withdrawal Triggered DOJ Investigation into Whether Trump Took Egyptian Funds

The 2023 Toyota GR Corolla Circuit Edition owned by Bryan Banks burst into flames on June 8. Apparently, something in the engine failed and by the time the fire department arrived, the car was a total loss. Insurance covered most of the payout, and he turned to Toyota with a warranty claim for the rest.

Two GR Corollas Burned Down. Toyota Won’t Honor the Warranties

The EV maker's shares, which closed down 3.9%, were up about 3% in extended trading. The deal comes just ahead of Lucid's planned production of its much-awaited Gravity SUV later this year and keeps the EV maker sufficiently funded till the fourth quarter of 2025. Ayar Third Investment, an affiliate...

Lucid gets $1.5 billion cash infusion from Saudi shareholder, beats revenue estimates

The 2025 GR Corolla goes on sale later this year with an eight-speed automatic gearbox option, more torque, and improved cooling. The Toyota GR Corolla has been on sale for two years now with only one gearbox option—the six-speed manual. That changes for the 2025 model year, as the automaker has added an eight-speed automatic transmission as an option. The automaker has also made a number of performance upgrades to the car, including more torque and better cooling.

The GR Corolla Is No Longer Manual-Only

Reuters

NEW YORK (Reuters) - Sharpie pen maker Newell Brands is moving some production of kitchen appliances out of China and has relocated manufacturing for its writing business to Tennessee as it faces "uncertainty" on tariffs ahead of the U.S. presidential election, Newell CEO Chris Peterson said in an interview with Reuters.

Sharpie-maker Newell moves more operations from China as tariffs loom

Starbucks, Coca-Cola Seek Trademark Renewal in Russia(Kevin Dietsch/Getty Images) (Credit: Getty Image) Starbucks' sales tumbled globally as more US and international consumers rejected its high-priced coffees. Starbucks sales dropped by 3% globally at all stores open for at least a year, according to its recent financial release. In North America...

Starbucks Sees Declining Sales as More Consumers Step Away From High-Priced Coffee

(Reuters) — Intel was sued Wednesday by shareholders who said the Silicon Valley chipmaker fraudulently concealed problems that led it to post weak results, slash jobs and suspend its dividend, and caused its market value to sink more than $32 billion in a single day. The proposed class action...

Shareholders sue Intel after job, dividend cuts cause stock plunge

NewsBreak

And So It Begins: Stellantis Offers Buyout Packages for US Employees

Stellantis is offering a voluntary buyout package to its salaried US-based workforce, which currently totals approximately 11,000 people. Job reductions are never a good sign, but...

And So It Begins: Stellantis Offers Buyout Packages for US Employees

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