Federal Reserve Board Vice Chair for Supervision Michael Barr testifies before a House Financial Services Committee hearing on the response to the bank failures of Silicon Valley Bank and Signature Bank, on Capitol Hill in Washington, D.C., on March 29, 2023. Kevin Lamarque | Reuters The Federal Reserve said Wednesday that the biggest banks operating…
Check out the companies making headlines in midday trading: Rivian Automotive — The stock surged more than 20% following the announcement that the electric vehicle startup secured a $5 billion investment from Volkswagen Group. Volkswagen’s initial investment will be $1 billion in the form of a convertible note, with the additional $4 billion expected by…
Check out the companies making headlines before the bell. Rivian Automotive — Shares of Rivian Automotive skyrocketed more than 40% after the electric vehicle company secured up to $5 billion in funding from Volkswagen Group. The initial investment totals $1 billion, with another $4 billion expected by 2026. A so-called short squeeze added fuel to…
Wan Gang is widely credited for spearheading China’s electric car strategy many years ago. Bloomberg | Bloomberg | Getty Images HEFEI, China — The man who spearheaded China’s electric car strategy on Wednesday said that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. “I believe the governments [of China and the…
Check out the companies making headlines in midday trading: SolarEdge Technologies — Shares of the company tumbled more than 20% following the announcement that it will offer $300 million worth of convertible notes due 2029. The company also revealed in a U.S. Securities and Exchange Commission filing on Monday that a customer won’t be able…
Cisco established operations in China in 1994. Sopa Images | Lightrocket | Getty Images DALIAN, China — Cisco is “very optimistic” about its growing business with Chinese electric car companies as they expand overseas, the company’s Greater China head told CNBC on Tuesday. The EV segment is the U.S. tech giant’s second-largest for the region…
Check out the companies making the biggest moves midday: Inspire Medical Systems , ResMed — Inspire Medical Systems and ResMed, which manufacture devices to treat obstructive sleep apnea, dropped 14% and 11%, respectively, following Friday’s news that Eli Lilly ‘s weight loss drug tirzepatide reduced the severity of the condition. Eli Lilly also said it…
Check out the companies making headlines in premarket trading. ResMed , Eli Lilly — ResMed tumbled 11.8% following last week’s news that Eli Lilly’s tirzepatide weight loss drug reduced the severity of obstructive sleep apnea. Eli Lilly, on the other hand, ticked higher by around 1%. RXO — The freight stock surged 12.7% after buying…
Jane Fraser, CEO of Citigroup, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Thursday, September 22, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images Banking regulators on Friday disclosed that they found weaknesses in the resolution plans of…
Traders work on the floor of the New York Stock Exchange during morning trading on Jan. 11, 2024. Angela Weiss | Afp | Getty Images Wall Street’s climb to record highs has come with conspicuously little volatility. The S&P 500 has gone 377 days without a 2.05% sell-off. That’s the longest stretch for the benchmark…
