JD Vance says pumping more oil will make housing cheaper. Economists say that’s a stretch.
As rising home prices and rents squeeze households across the country, the presidential candidates are weighing in on the housing shortage. Former President Donald Trump doesn’t list housing among the top 20 priorities on his campaign website, but he and his running mate have argued that some of their top agenda items — including deporting…
Luxury European automakers are getting crushed in China
BYD’s $150,000 Yangwang U8 has high-tech features including an onboard drone. The days of European carmakers dominating China’s luxury vehicle market are over. Germany’s BMW and Mercedes-Benz have suffered a sales slump in the world’s largest auto market in recent months amid rising pressure from a wave of Chinese EV upstarts. BMW reported a one-third…
Boeing union endorses sweetened contract deal after nearly 7 weeks on strike
Boeing IAM union members may see an end to a nearly 7-week strike after the union endorsed a sweetened deal offered by the airplane maker. Boeing union leaders are endorsing a sweetened contract offered by the airplane maker, signaling an end to a nearly seven-week strike that put a halt to the company’s manufacturing operations.…
Peloton’s new CEO has a chance to turn things around. Here’s what he needs to do.
Peloton named Peter Stern its new CEO. Peloton is betting that its new CEO can deliver a much-needed turnaround. On Thursday, Peloton announced Ford executive Peter Stern would be joining as its new chief executive in January — the latest in a series of shake-ups for a company that has been struggling after riding a…
What top US CEOs are worried about when it comes to a Trump or Harris presidency
Harris’ taxes and regulation versus Trump’s immigration and trade plans. Those are among the biggest concerns for some of the nation’s top CEOs as they consider what a victory for Vice President Kamala Harris or former President Donald Trump would mean for their businesses. In an exclusive interview with B-17, Joshua Bolten, CEO of the…
Dozens of Goldman Sachs executives are about to get the call of a lifetime
200 West Street crowd reflected in the window panes of the opposite building As soon as next week, several dozen Goldman Sachs employees will receive the honor of a lifetime: being named a partner of the prestigious Wall Street bank. Every two years, usually in the first week of November, Goldman promotes its top traders,…
Russia’s struggle to kick the Ukrainians out is likely only going to get tougher
Russian soldiers patrol a village in the Russian-Ukrainian border area of Russia’s Kursk region in a photo taken from video released by the Russian Defense Ministry. Russia’s retaking territory in Kursk, but efforts to drive the Ukrainian forces out of the country will likely only get more difficult. Ukrainian troops invaded the Kursk region in…
Mark Zuckerberg flexes that Meta’s cluster of Nvidia H100 chips is bigger than the competition’s
Mark Zuckerberg said Meta’s Llama 4 AI models were training on a GPU cluster “bigger than anything that I’ve seen reported for what others are doing.” Elon Musk has talked up his AI startup’s huge inventory of in-demand Nvidia chips. Now it’s Mark Zuckerberg’s turn to flex. A lot of computing power is going into…
Apple earnings recap: Tim Cook says he sees demand for iPhone 16 as stock falls on China weakness
Apple reported better-than-expected earnings in the fiscal fourth quarter. Apple reported a profit and revenue beat for its fiscal fourth-quarter earnings on Thursday as Wall Street looked for early indicators of how the new iPhone 16 is selling with Apple Intelligence. Overall iPhone demand continued to be strong, with revenue growing 6% year over year…
