News

Dollar General shares crater 20% as retailer cuts outlook, blaming 'financially constrained' customers

The discount retailer slashed its guidance for full-year same-store sales and profit.

China's Xi meets with U.S. national security advisor Sullivan

Chinese President Xi Jinping told U.S. national security advisor Jake Sullivan during a meeting that China hoped the U.S. would find "a right way" to get along.

China's electric car race is becoming more about chip prowess as companies focus on tech

Price wars aside, Chinese electric car companies are now competing on driver-assist and other tech powered by semiconductors.

Biden and Xi to speak after rare U.S. security adviser trip to China

The announcement came amid U.S. national security adviser Jake Sullivan's trip to Beijing this week to meet with Wang Yi, China's top diplomat.

401(k) auto-enrollment features don’t help savings as much as expected, study finds

Academics who helped pioneer research on 401(k) auto-enrollment find effects such as leakage blunt its long-term impact.

Buffett's Berkshire Hathaway hits $1 trillion market value, first U.S. company outside of tech to do so

The milestone came two days before Buffett's 94th birthday.

U.S. government researchers visit a Korean mine as the race against China for critical minerals heats up

The Sangdong Mine, owned by a subsidiary of Canada-based Almonty Industries, is set to resume operations this year.

JD.com shares climb after announcing $5 billion share buyback, outperforming decline in Hang Seng

The announcement is JD.com's second buyback this year, after announcing a $3 billion buyback in March.

Chinese EV company Xpeng sees shares pop 6% after it launches mass-market car

Xpeng shares rose after the Chinese electric car company said prices for its new mass-market Mona brand would start as low as $16,812, far below that of Tesla.

Dollar General, Dollar Tree and Kroger customers pay over $90 million a year in cash-back fees, federal agency finds

Some big retailers have been levying a fee on customers who ask for cash back on purchases. That disproportionately hurts those in banking deserts.

Buy now, pay later firm Klarna swings to first-half profit ahead of IPO

Klarna said it made an adjusted operating profit in the first half of 2024, swinging into the black as the firm nears a hotly anticipated IPO.

Xpeng releases mass-market EV with basic driver-assist for less than $20,000

Chinese electric car company Xpeng has announced that its mass-market brand Mona will start selling cars for less than $20,000.
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