Breaking News: Business

Mortgage rates drop to the 5% range for first time since September

Prospective buyers at an open house in Florida. mike stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily. The housing market hasn’t seen the rate with a five handle since a brief blip …

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Ford January 2023 sales boosted by F-Series and Bronco

Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC). Michael Wayland | CNBC DETROIT— Ford-Motor‘s new US vehicle sales started 2023 on a footing stronger than a year earlier but were down 18.4% from December, the company reported Thursday. January is historically one …

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Peloton CEO Barry McCarthy doesn’t care Bikes, Treads lose money

Barry McCarthy speaks during an interview with CNBC on floor of the New York Stock Exchange (NYSE), October 28, 2019. Brendan McDermid | Reuters Platoon CEO Barry McCarthy told investors Wednesday he doesn’t care that the company is losing money on its Bike, Tread and Row equipment. The business’s “path to the promised land,” he …

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General Motors expects to boost EV production in second half

Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – When General Motors launched the GMC Hummer EV …

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The Covid pandemic drives Pfizer’s 2022 revenue to a record $100 billion

Empty vials of Pfizer-BioNTech coronavirus disease (COVID-19) children’s vaccines are pictured at Skippack Pharmacy in Schwenksville, Pennsylvania, US, May 19, 2022. Hannah Beier | Reuters The ongoing Covid-19 pandemic propelled pharmaceutical company Pfizer’s earnings to a record $100 billion last year, almost $57 billion of which was driven by its vaccine and antiviral pill Paxlovid. …

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Pfizer (PFE) Q4 earnings 2022

Vials containing the Pfizer/BioNtech vaccine against the coronavirus disease (COVID-19) are displayed before being used at a mobile vaccine clinic, in Valparaiso, Chile, January 3, 2022. Rodrigo Garrido | Reuters Pfizer on Tuesday issued sales guidance of $67 billion to $71 billion for 2023, a decline from its record-breaking 2022 results. The pharmaceutical company booked …

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General Motors (GM) earnings Q4 2022

Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE DETROIT— General Motors is set to report its fourth-quarter earnings before the bell Tuesday. Here’s what Wall Street is expecting, according to Refinitiv consensus estimates: Adjusted earnings per share: $1.69 Income: $40.65 trillion GM in November tightened its projected range for 2022 adjusted …

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JetBlue pilots approve contract extension and raises

A JetBlue passenger jet (Embraer 190) taxis at LaGuardia Airport in New York, New York. Robert Alexander | Photo Archive | Getty Images JetBlue Airways pilots have approved a contract extension that comes with 21.5% raises over the next 18 months as the industry reverses slow progress in labor deals during a pilot shortage. JetBlue …

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