General Motors (GM) has surprised Wall Street by beating both top- and bottom-line expectations in the first quarter. The automaker’s strong performance in North America helped offset losses in other regions, leading to an increase in its forecast for 2024. GM now expects adjusted earnings of $12.5 billion to $14.5 billion, with adjusted automotive free
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The recent victory of United Auto Workers (UAW) at the Volkswagen plant in Chattanooga, Tennessee is a significant milestone for the labor movement. The UAW secured a decisive win with 73% of the vote in favor of unionizing, marking the first successful attempt at organizing a foreign-owned automaker in the South. The implications of this
Inherited individual retirement accounts (IRAs) have seen significant changes since 2020 due to the Secure Act of 2019. Those classified as “non-eligible designated beneficiaries” now face a 10-year window to deplete an inherited IRA. This category includes heirs who are not a spouse, minor child, disabled, or chronically ill individual. The IRS had previously proposed
Boeing recently informed its employees about the challenges it is facing due to supplier shortages of key parts, which are expected to slow down the increase in production and deliveries of new 787 Dreamliner planes. This setback comes on the heels of Boeing already having to reduce deliveries and output of its 737 Max planes
The federal government has allocated $8.8 billion for Home Energy Rebates programs through states, territories, and tribes, signaling potential relief for many consumers in the near future. These rebates aim to incentivize homeowners and landlords to make certain energy efficiency upgrades to their properties. The program is designed to partially or fully offset the costs
Disney Entertainment and ESPN are facing a significant change as Aaron LaBerge, the chief technology officer, is leaving the company to join PENN Entertainment. LaBerge, who has played a crucial role in developing Disney’s streaming services and integrating advertising into Disney+, will be taking on the role of CTO at ESPN Bet, the sports media
The U.S. Federal Trade Commission has taken legal action to prevent the $8.5 billion deal that would see Coach and Kate Spade’s parent company, Tapestry, acquire Capri Holdings. This move by regulators has effectively put a pause on the consolidation of these major players in the American luxury retail industry. The merger would bring together
When it comes to teens and money, there is often a disconnect. Overall, teenagers are taking a greater interest in their own long-term financial health, but far fewer understand basic retirement planning. In a recent survey of 13- to 18-year-olds, 83% said they had already thought about their retirement. However, most teens mistakenly believed saving
Express, a longtime mall retailer, recently filed for Chapter 11 bankruptcy protection due to financial difficulties. The company, known for its business casual apparel, has struggled with declining sales and mounting debt. This has been exacerbated by costly mall leases that have put a strain on its balance sheet. Despite efforts to shore up its
Floodplain buyouts have been a common strategy used by the government, particularly FEMA, to assist homeowners who have been affected by floods. The aim is to purchase damaged properties and convert them into public land, ultimately removing residents from harm’s way. This approach, while beneficial for the homeowners, has sparked controversy due to various concerns