Stocks traded higher on hopes the Fed chief will confirm expectations of easier monetary policy at a central banking summit this week.US Marketsread more
A Volkswagen spokesperson called the report that CEO Herbert Diess is interested in buying a stake in Tesla "completely unfounded."Technologyread more
"My sense was we've added accommodation, and it wasn't required in my view," George tells CNBC's Steve Liesman.Investingread more
Apple plans to unveil three new iPhones in September, including two new "Pro" models and a successor to the iPhone XR, Bloomberg reported Thursday.Technologyread more
Corporate profits posted modest growth in the second quarter as companies brace for slowing global growth.Retailread more
Former Prudent Bear Fund manager David Tice is urging investors to brace for a massive downturn.Trading Nationread more
Kraft has filed a contempt motion against the CFTC over a press release announcing the $16 million fine to settle claims of manipulating wheat prices.Food & Beverageread more
A ruling against J&J could mean more big payouts in similar cases across the country.Health and Scienceread more
Michael Burry thinks GameStop still has upside as Sony's and Microsoft's upcoming consoles will likely have physical optic drives.Investingread more
Target shares closed Wednesday up more than 20%, after the retailer reported impressive profit growth and a spike in traffic that surpassed analysts' expectations.Retailread more
German Chancellor Angela Merkel said a solution to the Irish "backstop" is possible before the October 31 Brexit deadline.Europe Economyread more
Just weeks after flipping the lights on at its massive Gigafactory, Tesla is laying new plans to expand the factory's use beyond batteries.
The electric carmaker plans to use the Gigafactory to make the motor and gearbox for its upcoming Model 3 sedan, the company's first bid at making an affordable Tesla for the average buyer.
Until now, Tesla has primarily referred to the Gigafactory as its lithium ion battery manufacturing facility, while its cars are made in Fremont, California.
Nevada Governor Brian Sandoval announced the new plans Tuesday in his State of the State address.
Tesla will invest $350 million for the project, and hire an additional 550 people, according to the governor's comments. That will be over and above the company's existing commitment to hiring 6,500 people at the Gigafactory, according to comments made by Steve Hill, the director of the governor's Office of Economic Development, to Nevada newspaper the Nevada Appeal.
Tesla confirmed the details Sandoval disclosed.
Tesla CEO Elon Musk has made manufacturing efficiency a high priority for the company, but Tesla will require a lot of factory floor to meet its goal of to pumping out 500,000 cars by the end of 2018, and then making one million cars by 2020.
Meanwhile, the city of Fremont recently approved Tesla's application for an additional 4.6 million square feet of space there.