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Forget Tesla , the real competition in electric vehicles is low-cost Chinese automakers. That's what Ford CEO Jim Farley recently told Wall Street. He said he has a plan as one such EV maker looks to break into America. BYD — short for Build Your Dreams — could pose a threat to Ford and other U.S. automakers if speculation is correct and the Chinese automaker does build an electric vehicle factory in Mexico. According to a Nikkei report from mid-February, the plant could be used as an export hub to penetrate the U.S.…

JPMorgan Chase CEO Jamie Dimon isn't worried about the added competition from a bulked-up Capital One if its $35.3 billion takeover of Discover Financial gets approved."My view is, let them compete," Dimon said. "Let them try, and if we think it's unfair, we'll complain about that."Dimon, speaking to CNBC's Leslie Picker at a Miami conference, acknowledged that if regulators approve the Capital One-Discover deal, his bank will be eclipsed as the nation's biggest credit card lender.But that didn't stop him from praising…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We're no longer recording the audio, so we can get this new written feature to members as quickly as possible.) As we gear up for the CNBC Investing Club's annual meeting on Saturday, I asked Jim Cramer for some quick thoughts on some of the day's portfolio movers. " Ford seems really interesting as the electric vehicle market slows down," Jim said.…

United Airlines planes at Denver International Airport.Leslie Josephs | CNBCUnited Airlines is raising the price to check bags, becoming the latest carrier this year to hike a fee that generated more than $5 billion for airlines in the first nine months of 2023 alone.United economy passengers who book domestic tickets starting Feb. 24 will pay $40 for a first checked bag, or $35 if they prepay online at least 24 hours before their flight, an increase of $5. A second checked bag will cost $50 at the airport, or $45 in…

Intuitive Machines' Nova-C lunar lander on display at NASA's Marshall Space Flight Center.NASAShares of Intuitive Machines surged in premarket trading on Friday after the company's successful first moon landing.Intuitive Machines' cargo moon lander, "Odysseus," became the first privately developed spacecraft to land on the lunar surface on Thursday – as well as the first U.S. spacecraft to soft land on the moon in over 50 years.The Houston, Texas company confirmed that the IM-1 mission lander was standing upright and…

Capital One headquarters in McLean, Virginia on February 20, 2024. Brendan Smialowski | AFP | Getty ImagesCapital One's blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such fee if U.S. regulators kill the deal, people with knowledge of the matter told CNBC.Capital One said late Monday it had an agreement to purchase rival credit card player Discover in an all-stock transaction valued at $35.3 billion.While Discover can't…

Mercedes-AMG GT 43 4MATIC+ on display at Brussels Expo on January 9, 2020 in Brussels, Belgium. Sjoerd Van Der Wal | Getty Images News | Getty ImagesMercedes-Benz shares gained around 5% on Thursday morning after the German carmaker beat fourth-quarter earnings expectations and announced a new share buyback program, despite warning of "exceptional" risks in the year ahead.Fourth-quarter earnings before interest and taxation (EBIT) came in at 4.33 billion euros ($4.7 billion), slightly ahead of consensus expectations,…

Capital One CEO and Chairman, Richard Fairbank.Marvin Joseph| The Washington Post | Getty ImagesCapital One's recently announced $35.3 billion acquisition of Discover Financial isn't just about getting bigger — gaining "scale" in Wall Street-speak — it's a bid to protect itself against a rising tide of fintech and regulatory threats.It's a chess move by one of the savviest long-term thinkers in American finance, Capital One CEO Richard Fairbank. As a cofounder of a top 10 U.S. bank by assets, his tenure is a rarity in a…

An American Airlines plane sits at the gate at Cancun International Airport on May 26, 2023.Daniel Slim | AFP | Getty ImagesAmerican Airlines has raised the price to check a bag for the first time in more than five years and said it would limit which travel agency bookings are eligible to earn frequent flyer miles.Passengers will pay $35 to check a first bag for domestic flights if the service is booked online in advance, or $40 if they purchase the option at the airport, the carrier said Tuesday. Both options previously…

Mathisworks | Digitalvision Vectors | Getty ImagesCorporate America has a message for Wall Street: It's serious about cutting costs this year.From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses — even at some companies that are turning a profit. Barbie maker Mattel, PayPal, Cisco, Nike, Estée Lauder and Levi Strauss are just a few of the firms that have cut jobs in recent weeks.Department store retailer Macy's said it will close five…