Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the...Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
Wall Street is under pressure, but a handful of stocks are breaking out to new highs. McDonald's, Waste Management, Hershey, Visa and Costco have notched records this month,...Trading Nationread more
No timetable has been set on returning the money to outside investors in Tepper's Appaloosa Management, source says.Hedge Fundsread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
Celebrity chef Mario Batali is being charged with indecent assault and battery, more than a year after admitting to sexual misconduct.Restaurantsread more
Ford said Wednesday it has invested $500 million in electric truck maker Rivian to build a new battery-powered electric vehicle for the Detroit manufacturer.
The news comes just months after Rivian revealed two new products, an all-electric pickup and SUV, that analysts say could rival established truck manufacturers like General Motors and Ford. Industry executives even see it as real competition for electric car maker Tesla and its SUV and new crossover — the Model X and Model Y.
"This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility," said RJ Scaringe, Rivian founder and CEO. "Ford has a long-standing commitment to sustainability, with Bill Ford being one of the industry's earliest advocates, and we are excited to use our technology to get more electric vehicles on the road."
In February, Rivian raised $700 million in a funding round led by Amazon, following rumors that GM would also invest.
Ford said it intends to develop a new vehicle using Rivian's skateboard platform as an addition to its existing plans to develop a portfolio of battery electric vehicles. The company has already confirmed two key fully electric vehicles: a Mustang-inspired crossover coming in 2020 and a zero-emissions version of the best-selling F-150 pickup, as part of its $11 billion EV investment.
The company has said the platform "efficiently packages the battery pack, drive units, suspension, braking and thermal system all below the height of the wheel, leaving the space above for occupants and their gear."
Rivian's skateboard platform