Electric vehicle maker Rivian missed Wall Street’s expectations for revenue on Thursday, with sales coming in lower than anticipated in the third quarter. The Irvine-based company reported revenue of $874 million in the three months ending Sept. 30., which fell short of the $992 million projected by analysts, according to FactSet. The company recorded revenue … Read more
Fox News cruised to an easy victory in the ratings battle for election night coverage, marking the second-straight time the network beat rivals CNN and MSNBC in viewership for presidential results. Fox News reeled in 10.3 million viewers from 8 to 11 p.m. Eastern time on Tuesday, according to Nielsen data. The ratings were more … Read more
BEIJING — China is expected to announce much-anticipated steps to boost its flagging economy Friday at the end of this week’s meeting of its legislature. Analysts say bold, multi-trillion yuan measures are needed to reinvigorate the world’s second largest economy, which has yet to bounce back fully from the COVID-19 pandemic. The central bank loosened … Read more
Former Douglas Elliman CEO Howard Lorber admitted before he abruptly retired last month that he’d had “intimate relationships” with two brokers at the real estate giant – including a former actress who was the mother of Jack Nicholson’s estranged love child, according to a report. The exit of Lorber, who retired on Oct. 22 under … Read more
Reuters Donald Trump and Xi Jinping at their last face-to-face meeting in 2019 China is expected to unveil new measures to boost its flagging economy, as it braces for a second Donald Trump presidency. Trump won the election on a platform that promised steep import taxes, including tariffs as high as 60% on Chinese-made goods. … Read more
News Corp posted record first-quarter revenue driven by growth at its digital real estate services, book publishing and Dow Jones segments, blowing past Wall Street estimates, the company said Thursday. The media giant, which owns the New York Post and the Wall Street Journal, saw net income jump 148% in the quarter to $144 million, … Read more
Steven Madden executives said Thursday the shoe maker was working quickly to shift product sourcing out of China to other countries after Donald Trump’s presidential election victory. In February, Trump said if he came to power, he would impose tariffs on China again, which could exceed 60%, putting a lot of strain on retail companies that heavily rely … Read more
The logo of the label Steve Madden at the fashion fair Premium. ens Kalaene | Picture Alliance | Getty Images Steve Madden said Thursday that it will slash the goods it imports from China by as much as 45% over the next year as it braces for President-elect Donald Trump to carry out his pledge … Read more
Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024. Justin Sullivan | Getty Images Lucid Group slightly beat Wall Street’s third-quarter expectations as the electric carmaker cuts costs ahead of plans to begin consumer production of a new SUV by the end of … Read more
Rivian Automotive lowered its earnings forecast for the year after missing Wall Street’s third-quarter expectations, including a significant miss in revenue. Here is how the company performed in the quarter, compared with average estimates compiled by LSEG: Loss per share: 99 cents adjusted vs. a loss of 92 cents expected Revenue: $874 million vs. $990 million expected … Read more