Social media stocks plunge following Snapchat warning

New York CNN Business — Wall Street was not in a particularly social mood on Tuesday. Social media shares tumbled following an ominous earnings warning from parent Snapchat. Shares of Snap (SNAP) plunged more than 40% on Tuesday and hit their lowest level since March 2020, just after the Covid-19 pandemic hit the United States. … Read more

Stellantis and Samsung to invest $2.5 billion in Indiana EV battery plant

Stellantis CEO Carlos Tavares holds a press conference after meeting with trade unions, in Turin, Italy, March 31, 2022. Massimo Pinca | Reuters Automaker Stellantis plans to invest more than $2.5 billion in partnership with Samsung SDI to build the automaker’s first electric vehicle battery manufacturing plant in the United States The companies announced on … Read more

“Lunchflation” is real. Going back to the office is costing us a fortune

Millions of employees started working remotely after the pandemic hit in 2020. But now, more and more people are returning to the office – and they’re being greeted by much higher prices for just about everything. Food. Commute. Nursery. Rising gas prices and soaring inflation have made getting back to the office more expensive. And … Read more

5 things to know before the stock market opens on Tuesday 24 May

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow set to return part of Monday’s stimulus rally A screen displays the Fed’s rate announcement as a trader works inside a post on the floor of the New York Stock Exchange (NYSE) in New York, U.S., … Read more

Walmart expands drone delivery service to reach 4 million homes

Walmart is expanding drone deliveries to select stores in six states. This will allow more customers to have diapers, groceries or more delivered by air. walmart Walmart is expanding drone delivery to six states this year, allowing many more customers to have a box of diapers or dinner ingredients delivered in 30 minutes or less. … Read more

Airbnb closes listings business in China

The home-sharing company made the decision in the face of declining business in the world’s second-largest economy and “expensive and complex” operating constraints compounded by the impact of Covid-19, the person told Monday. CNN. From this summer, Airbnb will remove its China Hosted Experience listings and offerings. According to the source, Airbnb (ABNB) will not … Read more

Hyundai will invest an additional $5 billion in the United States by 2025

The investments, announced during a visit to Seoul by President Joe Biden, relate to robotics, urban air mobility, autonomous driving and artificial intelligence, the group said. Hyundai Motor Group, home to Hyundai and Kia, on Friday announced plans to invest $5.5 billion in Georgia to build electric vehicle (EV) and battery facilities. Hyundai’s new electric … Read more

Facebook and Instagram will release more details about how their ads target users

WASHINGTON — Facebook parent Meta said it would begin publicly providing more details about how advertisers are targeting people with political ads just months before the U.S. midterm elections. The announcement follows years of criticism that social media platforms withhold too much information about how campaigns, special interest groups and politicians use the platform to … Read more

JPMorgan Chase, Gap, VMWare and more

People pass the JP Morgan Chase &; Co. Headquarters in the Manhattan borough of New York. Facebook Facebook logo Join Facebook to connect with Mike Segar Reuter Find out which companies are making headlines in the midday business. JPMorgan Chase – JPMorgan rose 7% after the bank said it expected to hit key yield targets … Read more

Starbucks will leave Russia after 15 years, closing 130 licensed cafes

A woman drinks coffee at a Starbucks in a shopping center in Khimki, outside Moscow. Alexander Natruskin | Russia After 15 years in business in Russia, Starbucks will exit the market, joining companies like McDonald’s, Exxon Mobil and British American Tobacco in pulling out of the country altogether. The coffee giant announced on Monday that … Read more