Yahoo News

Ford ramps up F-150 Lightning production to meet hot demand for the EV pickup

The Ford F-150 Lightning electric pickup hasn’t even gone on sale yet, but demand is so red hot that the automaker is already ramping up production. The first Lightning prototypes are rolling off an assembly line in Dearborn, Mich. for real-world testing, with the truck arriving in dealerships this spring. But with 150,000 reservations already in hand for its inaugural EV pickup truck, Ford (F) announced Thursday that it will invest an additional $250 million and add 450 more jobs at three… Source link

Read More »

China Adds $14 Billion Cash as Evergrande’s Pain Roils Markets

(Bloomberg) — China injected more cash into its banking system in a sign authorities are seeking to avert a funding squeeze amid a seasonal rise in financing demand and the intensifying debt crisis at China Evergrande. The People’s Bank of China added 90 billion yuan ($14 billion) of funds on a net basis through seven-day and 14-day reverse repurchase agreements on Friday, the most since February. Today was the first time this month it added more than 10 billion yuan short-term liquidity… Source link

Read More »

Bitcoin slides on environmental concerns but backers hope for a $100k high

The amount of bitcoin held on exchanges like Coinbase and Binance, have dropped to lower than they were in November last year. Photo: Reuters Major cryptocurrencies were down on Friday morning after a volatile week amid rising concerns over bitcoin’s environmental impact. Bitcoin (BTC-USD) was down 0.4%, still struggling to cross the $50,000 (£36,237) mark. It was trading at $47,900 at the time of writing. Many supporters on Twitter are hopeful it will hit $100,000 by the end of the… Source link

Read More »

Brighter days, thanks to the unsinkable US consumer: Morning Brief

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, September 17, 2021 The American consumer is saving the world, again For weeks, markets have been unsettled by relentless jitters about COVID-19 — and more recently, widening concerns about how a possible slowdown in China may drag on global growth. However, U.S. consumers are riding to the rescue — yet again — by spending with… Source link

Read More »

Stock futures trade sideways after mixed economic data

Stock futures opened little changed Thursday evening after a mixed session earlier, with investors digesting a slew of mixed economic data and its implications for monetary policy.  Contracts on the S&P 500 hugged the flat line. Earlier, both the blue-chip index and the Dow ended lower, coming off session lows by market close but failing to break into positive territory.  The latest set of U.S. economic data out Thursday painted a more upbeat than anticipated picture of the U.S. consumer…. Source link

Read More »

Lucid is a combo of ‘Tesla and Ferrari’: BofA analyst

Lucid Motors (LCID) shares rallied on Thursday after a bullish analyst note and confirmation from the Environmental Protection Agency (EPA) that the EV maker’s premium car has a higher mile range than Tesla’s model S (TSLA).  Lucid’s Dream Air edition vehicle received an EPA rated range of 520 miles. That’s about 100 miles more than Tesla’s model S Long Range.  The EV maker’s CEO and CTO Peter Rawlinson has said in previous interviews that Lucid’s car could go farther on one full battery… Source link

Read More »

New data highlights the burden that American parents are carrying

Parents are shouldering a lot of the burden amid the student loan debt crisis, and a new report reveals which schools have left the highest number of indebted parents. The report by the Texas Public Policy Foundation — which uses new data released by the Department of Education (ED)’s College Scorecard to examine typical college Parent PLUS loan debt — contributes to a burgeoning trend of transparency that’s aimed at scrutinizing the cost of tuition. Parent PLUS loans are “almost like the… Source link

Read More »

Roger Federer invested early in this shoe company — its stock has skyrocketed out of the gate

Tennis great Roger Federer has reason to smile this week, not because he has a ton of money and 20 Grand Slam titles.  Back in 2019, Federer inked a partnership with high-end running sneaker brand On Holding. Federer also invested an undisclosed sum (at an undisclosed valuation) in the maker of sneakers with “cloud” soles, and has since worked alongside the brand to develop his own footwear line dubbed “The Roger.” Federer’s stake is very likely worth multiples more amid an enthusiastic… Source link

Read More »

‘We plan to earn people’s trust’

Facebook (FB) has big plans for expanding in the world of financial services. It wants to become the planet’s preeminent digital wallet and supplant established players like PayPal (PYPL) in the process. The social network’s Novi division will be “a next generation digital wallet” built upon cryptocurrency that will be nothing short of a new “protocol for money on the internet,” according to David Marcus, head of Facebook Financial, who’s taking the lead in launching Novi in the… Source link

Read More »