This is part of NBC News’ Checkbook Chronicles, a series of profiles highlighting the financial realities of everyday Americans. Retirement has not been what Lucy Haverfield envisioned. “I thought my 60s were going to be my golden years. I would watch commercials, and all I saw were people on trips to Cancún or golfing or sitting by the pool. I ...
DETROIT — Ford Motor will expand production of its large Super Duty trucks to a Canadian plant that was previously set to be converted into an all-electric vehicle hub. The new plans include investing about $3 billion to expand Super Duty production, including $2.3 billion at Ford’s Oakville Assembly Complex in Ontario, Canada, Ford said Thursday. The remaining investment will be used ...
Zyn users, rejoice: Production is about to ramp up in the U.S. Philip Morris International (PMI), Zyn’s parent company, announced Tuesday it would invest $600 million to build a new production facility in Aurora, Colorado, dedicated to manufacturing the popular nicotine pouches. The move comes as Zyn has been subject to nationwide shortages as a result of its runaway success. ...
Traders are now 100% certain the Federal Reserve will cut interest rates by September. There are now 93.3% odds that the Fed’s target range for the federal funds rate, its key rate, will be lowered by a quarter percentage point to 5% to 5.25% in September from the current 5.25% to 5.50%, according to the CME FedWatch tool. And there are ...
DETROIT — General Motors will increase production of its Cadillac Escalade V-Series performance model as part of updates to the flagship SUV for the 2025 model year. The new SUV features a standard 55-inch diagonal display across the dash, including a passenger-only screen; an “executive package” for the second row; power doors; large 24-inch wheels; and other enhancements. “The Escalade has always been about ...
Federal Reserve Governor Christopher Waller on Wednesday suggested that interest rate cuts are ahead soon as long as there are no major surprises on inflation and employment. “I believe current data are consistent with achieving a soft landing, and I will be looking for data over the next couple months to buttress this view,” Waller said in remarks for a ...
Gold jumped to a record Tuesday as rising expectations of a September interest rate cut bolstered demand for bullion. Gold futures advanced 1.7% to $2,471.1, topping the previous high of $2,454.20 reached May 20. Spot gold jumped 1.8% to $2,465.95 during the session, which is an all-time high according to LSEG data going back to 1968 that has not been adjusted ...
This story is part of CNBC Make It’s The Moment series, where highly successful people reveal the critical moment that changed the trajectory of their lives and careers, discussing what drove them to make the leap into the unknown. Jay Chaudhry never thought he’d run a business, amass a fortune or help popularize an entire industry. Not growing up in rural India, not upon ...
The Dow Jones Industrial Average advanced on Monday as investors bet the unsuccessful assassination attempt on former President Donald Trump will lead to big gains for the Republican presidential candidate and the GOP at the polls in November. Friendlier fiscal policies ahead were seen as further spurring a broadening out of the bull market that started to take shape last week. Small-cap shares and ...
John Deere said Wednesday it would cease lending its name to social events like LGBTQ Pride parades — the latest corporation to reassess its stance on hot-button social issues as the culture wars ignite ahead of the presidential election. In a statement posted on its X account, the nearly 200-year-old industrial and farming equipment manufacturer said it would “no longer ...