Business

S&P 500 Closes Just Above Bear Market Threshold: Live Updates

S&P 500 Closes Just Above Bear Market Threshold: Live Updates

Investors are reassessing the premise that justified Tesla’s astronomical stock price and made its founder, Elon Musk, the richest person in the world. Tesla’s $1 trillion valuation made sense only if investors believed the electric car company was on a path to dominate the auto industry the way Apple rules smartphones or Amazon commands online …

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"Elon Musk's Crash Course" warns of the danger of a billionaire's love of being unreasonable

“Elon Musk’s Crash Course” warns of the danger of a billionaire’s love of being unreasonable

Examining each time one of Tesla CEO and SpaceX founder Elon Musk’s outlandish assurances is contradicted by reality would take many more hours than the duration allotted for “Elon Musk’s Crash Course.” His fan congregation believes he can do no wrong, yet his horrific reputation as an employer could fuel a larger limited series (which, …

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The all-electric Vision AMG concept car.

Mercedes Unveils the All-Electric Vision AMG Concept, and It’s the Best Looking Car You’ll See Today

Mercedes-AMG is preparing to say goodbye to the internal combustion engine once and for all, and what will arrive in its place is nothing if not striking. The German luxury marque used its Capital Markets Day investors summit at the Maybourne Riviera hotel above Monte Carlo to debut something big on Thursday evening—the brand-new Vision AMG. …

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Gold posts solid gains for the week as market participants focus on the economy

Gold posts solid gains for the week as market participants focus on the economy

Gold prices closed higher on the day and the week resulting in solid gains. As of 5:50 PM, ET gold futures basis most active June contract is currently up $3.90 or 0.21% fixed at $1845.10. Considering that gold futures traded to a low this week of $1785 and closed near the highest value this week …

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The land that housed Champlain Towers South in Surfside has been sold. The owner — Hussain Sajwani, of Dubai-based DAMAC Properties — will build an ultra-luxury condo building.

Surfside condo collapse site to be sold for $120 million to Dubai developer, no other bids

The land that housed Champlain Towers South in Surfside has been sold. The owner — Hussain Sajwani, of Dubai-based DAMAC Properties — will build an ultra-luxury condo building. Pedro Portal pportal@miamiherald.com | Sept. 10, 2021 The beachfront property where 98 people died in last year’s Surfside condo collapse will be sold to a billionaire developer …

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New York City restaurant owners were overwhelmed with orders on Tuesday during Grubhub's $15 free lunch promotion, which many kitchens being flooded with food tickets (pictured). Owners claim they weren't warned about the promotion and their businesses suffered from short staffing, no delivery drivers, and wasted food

NYC restaurant owners say they missed GrubHub’s warning about its disastrous $15 free lunch promo

NYC restaurateurs say they missed GrubHub’s warning about a free $15 lunch promotion that saw them overwhelmed with orders before being forced to dump tons of food.   The meal delivery app told the Today Show that it did offer restaurants ‘advance notice,’ but that the demand blew away expectations as thousands of hungry New Yorkers …

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Company insiders rip Tesla’s stance on safety in hard-hitting Elon Musk doc

Company insiders rip Tesla’s stance on safety in hard-hitting Elon Musk doc

If you own a Tesla, or a loved one does, or you’re thinking about buying one, or you share public roads with Tesla cars, you might want to watch the new documentary “Elon Musk’s Crash Course.” Premiering Friday on FX and Hulu, the 75-minute fright show spotlights the persistent dangers of Tesla’s automated driving technologies, …

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Goodbye, American soft power: McDonald’s exiting Russia after 32 years is the end of an era

Goodbye, American soft power: McDonald’s exiting Russia after 32 years is the end of an era

Soviet customers stand in line outside the just opened first McDonald’s in the Soviet Union on January 31, 1990 at Moscow’s Pushkin Square. Vitaly Armand | Afp | Getty Images It was 4 a.m. and a trickle of Russians had already begun lining up outside the building in the freezing winter cold, hours before opening …

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Renault reveals electric-hydrogen hybrid concept car, says it will have range of up to 497 miles

Renault reveals electric-hydrogen hybrid concept car, says it will have range of up to 497 miles

Details of Renault’s Scénic Vision concept car were presented to the public on May 19, 2022. The firm’s idea of developing a passenger vehicle that uses hydrogen technology is not unique. Benjamin Girette | Bloomberg | Getty Images Renault has released details of an electric-hydrogen hybrid concept car, with the French automaker describing hydrogen technology …

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Stock market news live updates: Stocks rise but still head for longest weekly losing streak since 2001

Stock market news live updates: Stocks rise but still head for longest weekly losing streak since 2001

U.S. stocks rose on Friday, though the major indexes still headed for steep weekly losses as concerns over the resilience of corporate profits in the face of inflation resurged this week. The S&P 500 advanced by about 0.8% just after the opening bell, following equities in Asia and Europe higher after China’s central bank unexpectedly …

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