Why Tesla was kicked out of the S&P 500’s ESG index

Why Tesla was kicked out of the S&P 500's ESG index

An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. Justin Sullivan | Getty Images The S&P 500 booted electric vehicle maker Tesla from its ESG Index in an annual rebalancing. Meanwhile, Apple, Microsoft, Amazon and even oil and gas multinational Exxon Mobil were included on the list. The S&P … Read more

EV battery costs set to spike as raw material shortages drags on

EV battery costs set to spike as raw material shortages drags on

Attendees look at the all-electric Ford F-150 Lightning pickup truck at the Washington Auto Show in Washington on Tuesday, January 25, 2022. Bill Clark | CQ-Roll Call, Inc. | Getty Images The cost to produce electric vehicles is primed to surge over the next four years, according to a new report, the result of scarcity … Read more

Illinois Revokes Carvana’s Dealer License Over Titling Issues

Illinois Revokes Carvana's Dealer License Over Titling Issues

Photo: Joe Raedle (Getty Images) Carvana is presently forbidden from selling cars in the land of Lincoln, Rivian is suing its seat supplier and Tesla’s closing the order books for a vehicle it was supposed to start manufacturing six months ago. All that and more in The Morning Shift for Tuesday, May 17, 2022. 1st … Read more

‘Boeing management is running around like headless chickens,’ Ryanair CEO says

'Boeing management is running around like headless chickens,' Ryanair CEO says

Michael O’Leary, chief executive of Ryanair Holdings Inc., tore into Boeing Co. during an earnings call Monday, blasting the plane-maker’s “very poor management” and calling for a shakeup at the top. “At the moment, we think Boeing management is running around like headless chickens, not able to sell aircraft, and then even the aircraft they … Read more

How Carvana went from a Wall Street top pick to meme stock trading

How Carvana went from a Wall Street top pick to meme stock trading

Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Carvana CEO Ernie Garcia III regularly tells Wall Street that “the market continues” in the company’s mission to become the largest and most profitable used car retailer in the world. Its stock price has marched this year as well, just in the wrong direction for investors. Within … Read more

JetBlue launches hostile takeover bid for Spirit Airlines

JetBlue launches hostile takeover bid for Spirit Airlines

LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York. Leslie Josephs | CNBC JetBlue Airways launched a hostile takeover bid of Spirit Airlines on Monday after that carrier rejected JetBlue’s $33 per share, all-cash offer earlier this month. JetBlue has said acquiring Spirit would give it access to a large fleet … Read more

Auto supplier Magna uniquely positioned to benefit from electric trucks

Auto supplier Magna uniquely positioned to benefit from electric trucks

DETROIT – If electric pickup trucks from the Detroit automakers take off, auto supplier Magna International is in a unique position to benefit from producing a crucial part of the vehicles. The Canadian company produces the enclosures that house the lithium-ion batteries of the Ford F-150 Lightning and Hummer EV pickups. The parts are highly … Read more

US pilot shortage forces airlines to cut flights, scramble for solutions

US pilot shortage forces airlines to cut flights, scramble for solutions

Airline pilots walk through the Ronald Reagan Washington National Airport on December 27, 2021 in Arlington, Virginia. Anna Moneymaker | Getty Images The United States is facing its worst pilot shortage in recent memory, forcing airlines to cut flights just as travelers are returning after more than two years of the Covid-19 pandemic. The crisis … Read more

George Soros Backs Bet on Rivian as Ford Delivers Bad News

George Soros Backs Bet on Rivian as Ford Delivers Bad News

Rivian (RIVN) – Get Rivian Automotive, Inc. Class A Report got scared but the electric vehicle maker made up for it well. The young manufacturer of electric SUVs and pickups has just cleared some of the many doubts hanging over its short-term future. The Irvine, Calif.-based company confirmed its production target of 25,000 vehicles in … Read more

Cars With Active Driving Assistance Tech Crash During AAA Test

Cars With Active Driving Assistance Tech Crash During AAA Test

Photo: Harold Cunningham (Getty Images) The long road towards autonomous vehicles just hit another speed bump. Despite lofty performance promises from carmakers seeking an autonomous future, recent testing from AAA revealed “inconsistent performance” with more basic active driving assistance (ADA) that resulted in vehicles crashing repeatedly into cars and a bicycles. Head-on collisions occurred during … Read more