In this article DAI-DE BMW-DE VOW3-DE 9868-HK NIO The electric vehicle sector is seeing its “most exciting moment” now — and consolidation in the sector cannot be avoided, says Bain & Company’s Helen Liu. “I would say that consolidation is an inevitable trend in this industry,” Liu, partner at the consultancy firm, told CNBC’s “Capital
admin
Elizabeth Holmes, founder and CEO of Theranos, arrives at the federal courthouse for jury selection in her trial, Tuesday, Aug. 31, 2021, in San Jose, Calif. Nic Coury | AP SAN JOSE, Calif. — In public, Elizabeth Holmes was dubbed the next Steve Jobs on the cover of Inc. magazine in 2015, but in private
People wait in line at a food distribution site in the South Bronx on March 10, 2021 in New York. Spencer Platt | Getty Images News | Getty Images Poverty declined in 2020 by one measure following large amounts of federal aid enacted due to the coronavirus pandemic, including stimulus checks and enhanced unemployment benefits.
U.S. stock futures were flat Tuesday night after the Dow Jones Industrial Average dropped nearly 300 points on rising investor worries about the state of the economic recovery and the next action by the Federal Reserve. Dow Jones Industrial Average futures ticked 8 points higher, or 0.02%. S&P 500 and Nasdaq 100 futures climbed 0.05%
Rivian R1T electric truck Source: Rivian EV start-up Rivian is the first automaker to bring an electric pickup to the consumer market, beating Tesla, General Motors and others in what’s expected to be a hotly contested segment in the years ahead. Rivian founder and CEO RJ Scaringe on Tuesday tweeted that the company’s first R1T
Today, Jessica Alba’s Honest Company is a publicly traded company valued at nearly $1 billion. But when the “Dark Angel” actress decided to launch her consumer goods start-up in 2012, she was met with plenty of doubters — including herself. In the years since, she’s had to work to combat the naysayers, developing a strategy
Marc Lasry, co-founder and chief executive officer of Avenue Capital Group. Adam Jeffery | CNBC Marc Lasry, who makes his living by investing in distressed companies, thinks the U.S. is potentially heading for that status itself. Though he’s not sure of the timing and doesn’t expect major problems to happen anytime soon, the billionaire head
Drew Angerer | Getty Images News | Getty Images Households earning $1 million or more would see their taxes rise by almost 11%, on average, in 2023 due to reforms proposed by House Democrats, according to Joint Committee on Taxation estimates published Tuesday. They’d pay an extra $96,000 that year, and their average tax rate
Stephen Scherr, chief strategy officer and head of GS Bank USA at Goldman Sachs & Co. Jon Halty | Bloomberg | Getty Images Goldman Sachs named Denis Coleman the bank’s new chief financial officer beginning next year. Coleman, the current co-head of the firm’s Global Financing Group, will take over for Stephen Scherr, who is
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters Anyone searching for a home today knows full well the pickings are slim. The supply of U.S. homes for sale is near a record low, and the gap
In this article ENGI-FR This image shows Orbital Marine Power’s 2 megawatt turbine, the Orbital O2. Scottish engineering firm Orbital Marine Power is to lead a consortium focused on the commercial deployment of floating tidal energy. In a statement on Monday, the company, which has previously described its 2 megawatt O2 tidal turbine as the “world’s
Drew Angerer | Getty Images News | Getty Images House Democrats have proposed a top marginal income tax rate of 39.6% for individuals, part of a sweeping change to the tax code to fund climate investments and an expansion of the U.S. safety net. That rate, an increase from the current 37% levy for the