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Business

Here’s your first full look at the Cadillac Celestic’s ultra-luxury electric sedan

After a year of excitement, General Motors has unveiled the Cadillac Celtic, a $300,000 ultra-luxury electric sedan that the automaker says is the most Cadillac Cadillac ever. Celestiq is Cadillac’s first major effort to capture some of the high-end markets currently dominated by companies such as Rolls-Royce and Bentley. As such, GM has piled in …

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Verizon stock falls after earnings as company cuts expectations

Verizon Communications Inc. The second major wireless carrier in the United States disappointed about its earnings this week, as the company cut its full-year financial forecast on Friday. Shares are down nearly 5% in pre-market trading. The company achieved net income in the second quarter of $5.32 billion, or $1.24 per share, compared to $5.94 …

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Blackstone on track to pay nearly $1.6 million per capita for 2022

It is not easy to get a job at Blackstone. Last year, the fund received 29,000 applications for 103 entry-level (analyst) positions – an acceptance rate of 0.4%. Unusually high wages are the main attraction. Blackstone Corporation today announced its second-quarter results. They reveal that compensation spending in the form of salaries, bonuses and realized …

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American Express, Verizon, Twitter, and more

Check out the companies making headlines before the bell: American Express (AXP) – American Express stock rose 4.5% in premarket after beating the highest and lowest estimates for the second quarter. Cardmembers posted record spending, driven by a resurgence in travel and entertainment. Verizon (VZ) — Verizon stock fell 4.4% in the primary market after …

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New “nonsense” ECB bond buying tool: strategist

The European Central Bank raised interest rates for the first time in more than a decade on Thursday, boosting its benchmark interest rate by half a percentage point. At the same time, the central bank introduced a new flexible bond-buying program called the Transfer Protection Instrument, or TPI. The latter is an attempt to mitigate …

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Northvolt, backed by Volkswagen, develops wooden batteries for electric vehicles

This photo from 2007 shows logs and wood chips outside the Stora Enso paper mill in Finland. The company says it is “one of the largest private forest owners in the world”. Susan Plunkett | Bloomberg | Getty Images Northvolt will partner with Stora Enso to develop batteries that include components produced using wood sourced …

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Coinbase Slams SEC Over Insider Trading Issue

Coinbase signs in Times Square in New York during the company’s initial public offering on the Nasdaq on April 14, 2021. Robert Nickelsberg | Getty Images Coinbase has retracted claims from the Securities and Exchange Commission that it offers unregistered securities, following accusations of fraud against a former employee of the company. A former Coinbase …

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The US Department of Energy funds more electric shipments worth $96 million to decarbonize domestic transportation

The U.S. Department of Energy (DOE) today announced $96 million in domestic transportation decarbonization funding with a focus on expanding electric vehicle charging. The announcement of the Ministry of Energy states the following: Funding will focus on expanding access to electric vehicle charging, creating cleaner off-road vehicles through electricity and the use of alternative fuels, …

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