Investments and Business

At the Aspen Ideas Festival on Friday, Ford CEO Jim Farley announced that the company plans to launch a $30,000 all-electric vehicle that will be profitable in about two and a half years. Farley provided limited additional details about the vehicle, which is being developed by a specialized team within Ford. He said its main competitors will be Chinese automakers such as BYD and a planned entry-level electric car from Tesla, the leading U.S. electric vehicle maker. Farley said Ford is focusing on smaller electric vehicles rather than larger, all-electric trucks and SUVs, which have historically been the company's main…

Wan Gang, the visionary behind China’s surge in electric vehicles, sees European collaboration as a promising path forward. HEFEI, China — Wan Gang, widely recognized as the architect of China's electric vehicle (EV) strategy, suggested on Wednesday that Chinese investment in Europe's electric vehicle sector could benefit both regions amid current disputes commercial. “I think the governments of China and the European Union are now considering how, through negotiations, they can combine investment with commodity trade,” said Wan Gang, currently president of the China Association for Science and Technology. Wan made the remarks via an official English translation during a…

General view of the Bank of England building in London. LONDON – The Bank of England announced its decision to keep interest rates steady at its June meeting, but described the move as “finely balanced” following the UK’s achievement of its 2% inflation target. Money market prices pointed to a near 50% chance of a rate cut in August as investors interpreted a subtly dovish message. The central bank's key rate stands at 5.25%, its highest level in 16 years, and has been held since August. Seven members of the monetary policy committee voted in favor of maintaining the rate,…

A Delta Air Lines Boeing 767 lands at JFK Airport as Delta and United compete for luxury fliers A Delta Air Lines Boeing 767 passenger jet from Dublin arrives at New York's JFK International Airport, with the iconic Manhattan skyline in the background, on February 7, 2024. Charly Triballeau | Afp | Getty Images Delta Air Lines, the nation’s most profitable airline, faces a challenge in maintaining its top spot. The airline’s unit revenue, the amount earned per seat mile flown, topped that of its competitors last year. Delta’s stock price is up nearly 23% in 2024, outperforming other airlines…

Associated media - Related media TikTok takes its fight to court TikTok fired the latest broadside in its battle with Washington, suing to block a law that could force the company to split from ByteDance, its Chinese owner, or face a ban in the U.S. The company argues that the law violates the First Amendment by effectively killing an app in the U.S. that millions of Americans use to share their views. Another problem: a divestiture within 270 days is practically impossible, Sapna Maheshwari and David McCabe report for The Times. DealBook spoke with Maheshwari about the lawsuit filed yesterday…

Related media - Related media When Disney reported robust earnings in February, the activist investors then circling the company essentially called it a stunt — a temporary, heat-of-battle effort to fend them off and not, as Robert A. Iger maintained, proof that a struggling Disney had finally “turned the corner.” The Disney chief’s argument just got a lot stronger. Disney blew past Wall Street’s expectations for a second consecutive quarter on Tuesday, in part because its flagship streaming service made money — a first. Disney+ had been expected to lose more than $100 million in the most recent quarter, widening…

Associated media - Associated media Mr. Nedohin raised his arms in celebration. A few minutes later, he cut to a video of a rocket blasting into the sky, with Mr. Trump photoshopped onto it. “We are holding Trump stocks,” he declared. “We are now financial investors in him.” Mr. Nedohin is one of hundreds of thousands of amateur investors who own shares of Trump Media, convinced that its sole platform, Truth Social, will become one of the world’s most popular and profitable social media sites. In recent months, tens of thousands of Trump fans have tuned into Mr. Nedohin’s webcasts,…