Business

General Motors plans to significantly increase production of its highly profitable pickup trucks by investing up to $1 billion in its Canadian operations. The investment is part of a tentative deal with Canadian union Unifor, GM CEO Mary Barra told investors Thursday during the company’s third-quarter earnings call. The investment is pending union member ratification

Peloton on Thursday reported quarterly sales growth of 232%, exceeding the company’s expectations, as consumers turned to its bikes and treadmills to work out and stream live classes from home during the coronavirus pandemic. The bike maker raised its revenue outlook for fiscal 2021, and now expects to report $3.9 billion or more in total

Faris Hadziq/SOPA Images | LightRocket | Getty Images Bentley Motors plans to exclusively offer plug-in hybrid and electric vehicles by 2026 and fully electric models by 2030, the British luxury carmaker said Thursday. Bentley, which is owned by German automaker Volkswagen, will offer two unnamed plug-in hybrid models starting next year. The first full-electric vehicle

Cari Gundee rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California. More people are turning to Peloton due to shelter-in-place orders because of the coronavirus (COVID-19). Ezra Shaw | Getty Images Peloton is seeing demand for its high-end exercise bikes and treadmills spike again, as Covid-19 cases are

Children pose for a photo with Santa Claus, who is sitting behind a plexiglass screen, at Bass Pro Shops. Source: Bass Pro Shops It’s an annual tradition for many families during the holidays: Packing the kids in the car and trekking them to the local mall to visit Santa for the chance to rattle off

Jim Farley, Ford CEO Ford Ford Motor will release its U.S. vehicle sales on a monthly basis as well as quarterly after the company’s new CEO Jim Farley promised Wall Street greater transparency. The decision comes more than a year after the Detroit automaker followed its crosstown rival, General Motors, in switching exclusively to quarterly

A pedestrian walks by the closed GAP flagship store on August 18, 2020 in San Francisco, California. Justin Sullivan | Getty Images Gap caught fire Wednesday for posting a photo of a half-blue, half-red sweatshirt on its Twitter account, with the outcome of a heated presidential election still undecided and tensions running high. The retailer

A Friendly’s Ice Cream Corp restaurant is seen on the day the company filed for bankruptcy in Delray Beach, Florida. Joe Raedle | Getty Images FIC Restaurants, the parent company of Friendly’s, said it has filed for Chapter 11 bankruptcy protection after the coronavirus pandemic caused sales to plummet. The company will sell substantially all

A person wears a protective face outside the AMC 34th Street 14 movie theater as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 31, 2020 in New York City. Noam Galai | Getty Images Entertainment | Getty Images AMC, starved for cash, is looking to

A shopper is seen wearing a mask while shopping at a Walmart store, in North Brunswick, New Jersey, July 20, 2020. Eduardo Munoz | Reuters At some Walmart stores, robots have roamed the sales floors and helped check if shelves were stocked. But the big-box retailer has now decided to end its contract with the

Pedestrians carrying shopping bags cross a street in front of the Macy’s flagship store in the Herald Square area of New York, on Thursday, Aug. 6, 2020. Nina Westervelt | Bloomberg | Getty Images Americans have shown they are eager to shop, even during a recession and global health crisis, the National Retail Federation’s chief

Tracy Miller, 60, carries an item through floodwater that is left after Hurricane Laura landed along the Texas-Louisiana border in Cameron, Louisiana on August 30, 2020. Callaghan OHare | The Washington Post | Getty Images Two days after Hurricane Laura barreled through Louisiana in August, Tameka Nelson returned to her beloved daycare facility in Lake

Time Square, New York, April 8, 2016, Times Square is a major landmark of New York, brightly adorned with billboards and advertisements. William Rodrigues dos Santos Had this been a normal year, the Tony Awards would have occurred in June and Broadway would be gearing up for its lucrative holiday season. Instead, the Great White

Certified nursing assistant (CNA) Shameka Johnson, wearing NFL Green Bay Packers apparel, processes a nasal swab at a drive-thru testing site outside the Southside Health Center as the coronavirus disease (COVID-19) outbreak continues in Milwaukee, Wisconsin, October 21, 2020. Bing Guan | Reuters The United States reported a record 88,521 new coronavirus cases on Thursday

A woman wearing a face mask as a preventive measure against the spread of the COVID-19 Coronavirus, runs with Cruise Ships docked in the background at the port of Long Beach, California on April 11, 2020. Apu Gomes | AFP | Getty Images Cruise stocks rose Friday after the Centers for Disease Control and Prevention

Getty Images The coronavirus pandemic is redrawing the flight patterns of America’s private jets, as airports in resort towns see big jumps in traffic while flights near cities decline, according to a new report. Private jet flights at Francis S. Gabreski Airport in Westhampton, New York, surged 172% in October, according to data from Tuvoli,

Restaurants are facing a new wave of restrictions, posing yet another obstacle in their attempts to stay afloat and recover from the coronavirus pandemic. New daily Covid-19 cases in the United States hit a record high of 88,521 on Thursday, according CNBC analysis of data from Johns Hopkins University. “We’re starting to find ourselves on

Source: Goop Goop CEO and founder Gwyneth Paltrow is the latest Hollywood celebrity investing in the cannabis industry. The actress-turned-wellness guru just announced she’s backing Cann, an cannabis-infused beverage maker. Paltrow calls cannabis a “hero ingredient of the future” for wellness and says she was drawn to Cann’s drinks, which are infused with small doses

People wear protective face masks outside Starbucks in Union Square as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 29, 2020 in New York City. Noam Galai | Getty Images Starbucks is expected to report its fiscal fourth-quarter earnings after the bell Thursday. Here’s what

Incoming Ford CEO Jim Farley (left) and Ford Executive Chairman Bill Ford Jr. pose with a 2021 F-150 during an event Sept. 17, 2020 at the company’s Michigan plant that produces the pickup. Michael Wayland / CNBC Ford Motor is expected to eek out a modest profit for the third quarter when it reports its

Two years’ worth of e-commerce growth is about to be packed into one holiday season, according to a new forecast, as Americans turn in droves to online shopping to avoid crowded stores and malls during the coronavirus pandemic. Online sales this November and December are forecast to surge 33% year over year to a record

A Boeing 737 MAX sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington. Matt Mills | Reuters Boeing is set to detail another rough quarter before the market opens Wednesday. Here’s what to watch for when the company reports: More losses, sales drop Wall

Co-director of the intensive care unit at CommonSpirit’s Dignity Health California Hospital Medical Center, Dr. Zafia Anklesaria, 35, who is seven months pregnant, attends to a COVID-19 patient in the hospital where she works, during the coronavirus disease (COVID-19) outbreak, in Los Angeles, California, U.S., May 18, 2020. Lucy Nicholson | Reuters The average number

A Regal Cinemas movie theater stands at night on 42nd Street in New York, U.S., on Tuesday, Oct. 6, 2020. Amir Hamja | Bloomberg | Getty Images When movie theaters were asked to close this spring due to the coronavirus pandemic, many cinema operators were under the impression that their venues would be reopened by

Lordstown Motors Corp prototype of the electric vehicle start-up’s Endurance pickup truck, which it will begin building in the second half of 2021, is seen at the company’s plant in Lordstown, Ohio, U.S. June 25, 2020. Lordstown Motors | Reuters Shares of Lordstown Motors surged nearly 20% before cooling off in the company’s volatile trading

A firefighter is silhouetted as Cameron Peak Fire, the largest wildfire in Colorado’s history, burns outside Drake, Colorado, U.S., October 17, 2020. Loveland Fire Rescue Authority | Reuters Wildfire season in Colorado would normally be nearing its end by now. Instead, dry conditions fueled what’s now become the state’s largest wildfire in history. The Cameron

Anchiy | E+ | Getty Images Parents everywhere are grappling with how to make the most of Halloween during the pandemic. The guidance from the Centers for Disease Control and Prevention asks families to take precautions if they trick-or-treat outdoors by carrying hand sanitizer, setting up stations with individually bagged treats and wearing cloth masks,

Boston Beer shares soared over 18% to a new all-time high Friday, one day after the maker of Samuel Adams and Truly hard seltzer reported third-quarter earnings and raised guidance. The stock closed Friday’s session at $1,091 apiece, adding to its major run so far in 2020. Shares of Boston Beer are up almost 190%

A customer pulls into a McDonald’s restaurant. Luke Sharrett | Bloomberg | Getty Images McDonald’s on Friday asked a judge to dismiss the racial discrimination lawsuit filed by former franchisees, arguing that it wants every operator in its system to thrive. The company also said that the complaint from 52 Black plaintiffs relies on “vague

(L-R) U.S. President Donald Trump and National Institute of Allergy and Infectious Diseases Director Anthony Fauci arrive for a briefing on the coronavirus pandemic in the press briefing room of the White House on March 26, 2020 in Washington, DC. Drew Angerer | Getty Images President Donald Trump hasn’t attended a coronavirus task force meeting