Rivian reenforces their commitment to build new factory, bring 7,500 jobs to Georgia
Rivian announced a $5 billion loss last year and with a general slowdown in EV sales, it decided to pause construction at the Georgia plant.
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Rivian lost $1.45 billion in the first quarter though its plans for consolidating production in Illinois remain on track.
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Rivian reported mixed quarterly results for the first quarter, but will see further cost savings from shifting its upcoming R2 production to its Normal, Ill., plant and trimming its capital expenditure forecast.
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Rivian loses $1.45 billion as cost-cutting measures continue
Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability. The company cut another 6% of jobs in February 2023.
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Rivian wins $827M incentive package to expand Illinois factory for R2 production
Rivian is getting $827 million in incentives from the state of Illinois to support building its next-generation electric vehicle, known as the R2. The company announced Thursday that the Illinois Department of Commerce and Economic Opportunity will dole out the funds, which will be used to expand the automaker's existing factory in Normal, Illinois, to build out supporting infrastructure and boost job training programs for its workforce. The funding announcement comes just two months after Rivian unveiled the midsize R2 SUV, which is supposed to start at around $45,000 when it goes on sale in 2026.
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Honda debuting Class 8 hydrogen fuel-cell truck concept at ACT Expo
Honda debuting Class 8 hydrogen fuel-cell truck concept at ACT Expo, with an eye on entering the North American truck and construction markets.
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A pivotal USMNT summer begins with a roster full of European experience
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Wall Street's biggest bear flips, raises S&P 500 price target by 20%
Morgan Stanley chief investment officer Mike Wilson believes an improving growth outlook and an earnings rebound will drive the S&P 500 higher over the next year.
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JPMorgan predicts 2024 revenue boost as rate expectations shift
The nation's largest bank boosted expectations for a key revenue source in 2024 due partly to fewer rate cuts expected from the Federal Reserve.
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RIP ChatGPT's knockoff Scarlett Johansson voice [2023 — 2024]
OpenAI is removing an AI voice from ChatGPT that many believe sounds like Scarlett Johansson. The company didn't give a clear explanation for the decision.
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The NBA Loser Lineup: Nuggets' chase for repeat fails — should Nikola Jokić repeat as No. 1 fantasy pick?
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CyberArk snaps up Venafi for $1.54B to ramp up in machine-to-machine security
Consolidation is here in cybersecurity, as bigger players in the space pick up startups that will help them grapple with the ever-expanding attack surface for enterprises as they move more activity into the cloud. In the latest development, CyberArk — one of the army of larger security companies founded out of Israel — is acquiring Venafi, a specialist in machine identity, for $1.54 billion. CyberArk will pay $1 billion in cash and approximately $540 million in shares.
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Monday Leaderboard: PGA Championship wrap, Korda takes No. 6, more Tour drama
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CD rates today, May 20, 2024 (earn up to 5.15% APY)
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19% of U.S. adults report frequently or always feeling lonely, new Yahoo/YouGov poll finds. Here's why — and which age group is affected most.
A new survey from Yahoo News/YouGov says that for younger people, social media is a contributor to loneliness.
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Mortgage rates today, May 20, 2024: Rate decreases are gradual, not drastic
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Markets brace for Nvidia earnings: What to know this week
A crucial earnings report from AI leader Nvidia greets a stock market that hit new records last week.
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PGA Championship: Xander Schauffele drains dramatic birdie on 18 to win first career major
Xander Schauffele hit a six-foot putt on 18 to win the 2024 PGA Championship.
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Score big on The North Face Gear during REI's Anniversary Sale
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NBA playoffs: Pacers blow out Knicks in Game 7 as Jalen Brunson leaves game with fractured hand
One team will go on to the Eastern Conference finals. The other will go home.
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The 27 best Walmart deals to shop this weekend — save up to 75% on early Memorial Day sales, summer essentials and more
Ready for your pre-summer perusal: A massive patio umbrella for over half off, a 65-inch Hisense smart TV for under $500 and a Keurig hot/iced coffeemaker for nearly $70 off.