How Carvana went from being a Wall Street top pick to trading with meme stocks

Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Carvana CEO Ernie Garcia III regularly tells Wall Street that “the march continues” on the company’s mission to become the world’s largest and most profitable used-car retailer. Its share price has also risen this year, just in the wrong direction for investors. In six months, Carvana has … Read more

Severe pilot shortage in the United States forces airlines to seek solutions

Airline pilots walk through Ronald Reagan Washington National Airport on December 27, 2021 in Arlington, Virginia. Anna Moneymaker | Getty Images The United States is facing its worst pilot shortage in recent memory, forcing airlines to cut flights just as travelers return after more than two years of the Covid-19 pandemic. The crisis pushes the … Read more

George Soros backs Rivian bet as Ford delivers bad news

Rivian (SHORE) – Get the Class A report from Rivian Automotive, Inc. was scared but the electric vehicle manufacturer made up for it well. The young manufacturer of electric SUVs and pick-ups has just cleared some of the many doubts hanging over its short-term future. The Irvine, Calif.-based company confirmed its production target of 25,000 … Read more

Vehicles equipped with active driving assist technology crash into cyclists in AAA test

Photo: Harold Cunningham (Getty Images) The long road to autonomous vehicles has just hit a new speed bump. Despite great promises of performance from automakers looking for an autonomous future, recent trial from AAA revealed “inconsistent performance” with more basic Active Driver Assistance (ADA) tThis has resulted in repeated collisions between vehicles and cars and … Read more

Nissan is profitable for the first time in years

Photo: Nissan Nissan is making money again, not Rivian and GM. All this and more in The morning shift for May 12, 2022. 1st gear: Nissan Nissan had a strange three years after ousting of former CEO Carlos Ghosn in circumstances that can only be described as too bizarre to be invented. Current Nissan CEO … Read more

Uber CEO says company will cut costs and treat hiring as a ‘privilege’

Uber will cut spending and focus on becoming a leaner company to weather a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After the earnings, I spent several days meeting with investors in New York and Boston,” Khosrowshahi said in the email sent Sunday evening. “Clearly the … Read more

Uber CEO says company will cut costs and treat hiring as a ‘privilege’

Uber posted a loss of $5.9 billion in the first quarter of 2022. Philippe Pacheco | AFP via Getty Images Uber will cut spending and focus on becoming a leaner company to weather a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After the earnings, I spent … Read more