watch now South Korean auto and shipbuilding stocks rallied Thursday after Seoul and Washington finalized a trade deal announced back in July. Hanwha Ocean spiked as much as 14.9% before paring gains to close 6.9% higher at the end of the session, while Samsung Heavy Industries — which climbed 8.33% at its peak — finished… Continue reading South Korean auto, shipbuilding shares climb after trade deal finalized
Author: CNBC Online news
GM lays off more than 1,700 at sites in Michigan, Ohio, citing EV challenges
The Ultium Cell factory in Warren, Ohio, is shown, July 7, 2023. Gene J. Puskar | AP General Motors laid off roughly 1,700 workers at manufacturing sites in Michigan and Ohio on Wednesday, citing a slowdown in the electric vehicle market. The company confirmed there were around 1,200 layoffs at Detroit’s electric vehicle plant and 550 cuts… Continue reading GM lays off more than 1,700 at sites in Michigan, Ohio, citing EV challenges
Jaguar Land Rover’s cyberattack holds an ominous lesson for British businesses
A general view of JLR signage at the Jaguar Land Rover vehicle manufacturing plant in Castle Bromwich on September 30, 2025 in Birmingham, United Kingdom. Christopher Furlong | Getty Images News | Getty Images A major cyberattack on Jaguar Land Rover, considered the most expensive security breach in British history, has prompted experts to question… Continue reading Jaguar Land Rover’s cyberattack holds an ominous lesson for British businesses
Lucid targets industry-first self-driving car technology with Nvidia
The Lucid display is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBC Lucid Group is targeting a new goal that would make it the first automaker to offer highly advanced self-driving capabilities in its vehicles in the coming years, the company said Tuesday. The all-electric vehicle manufacturer… Continue reading Lucid targets industry-first self-driving car technology with Nvidia
Mining execs embrace ‘phenomenal’ rare earths interest from the Middle East
Guests enjoy the Fortune Global Forum 2025 Gala Dinner on October 26, 2025 at Diriyah Gate, Riyadh, Saudi Arabia. Cedric Ribeiro | Getty Images Entertainment | Getty Images Mining executives have welcomed a sharp upswing in investor interest from the Middle East, as Gulf states seek to expand their critical mineral ambitions and take on… Continue reading Mining execs embrace ‘phenomenal’ rare earths interest from the Middle East
Tesla risks losing CEO Musk if $1 trillion pay package isn’t approved, board chair says
watch now Shareholders must vote to pay Tesla CEO Elon Musk almost $1 trillion, or he might not stay, Board Chair Robyn Denholm warned in a letter Monday. “Without Elon, Tesla could lose significant value, as our company may no longer be valued for what we aim to become,” Denholm wrote ahead of Tesla’s annual… Continue reading Tesla risks losing CEO Musk if $1 trillion pay package isn’t approved, board chair says
GM lays off more than 200 salaried workers in latest round of job cuts
The headquaters of US auto company General Motos (GM) in Detroit, Michigan. Uli Deck | Picture Alliance | Getty Images DETROIT – General Motors laid off more than 200 salaried employees on Friday, as the automaker continues to reevaluate its businesses and cut costs to boost profits. The impacted employees were largely Computer-Aided Design, or… Continue reading GM lays off more than 200 salaried workers in latest round of job cuts
Ford beats on earnings but lowers 2025 guidance after supplier fire
A Ford logo on a Ford F-150 pickup truck for sale in Encinitas, California, U.S. Oct. 20, 2025. Mike Blake | Reuters DETROIT – Ford Motor beat Wall Street’s third-quarter earnings expectations but lowered its 2025 guidance due to impacts of a supplier fire, which is disrupting production of its highly profitable large trucks and… Continue reading Ford beats on earnings but lowers 2025 guidance after supplier fire
Rivian laying off more than 600 workers
A Rivian R1S electric vehicle (EV) at a dealership and service center in San Francisco, California, US, on Tuesday, June 3, 2025. David Paul Morris | Bloomberg | Getty Images DETROIT – Rivian Automotive is laying off roughly 4.5% of its workforce as the all-electric vehicle maker faces growing market challenges, according to a note… Continue reading Rivian laying off more than 600 workers
Sweden’s Volvo Cars sees best trading day ever as profit tops expectations
Mikael Sjoberg | Bloomberg | Getty Images Sweden’s Volvo Cars on Thursday posted stronger-than-expected third-quarter profit, prompting shares to rally by around 40% and driving the stock to its best-ever trading day. Volvo Cars, which is owned by China’s Geely Holding, posted operating income for the July-September period of 6.4 billion Swedish kronor ($680.4 million),… Continue reading Sweden’s Volvo Cars sees best trading day ever as profit tops expectations