Business

Covering an area of 6.5 million square meters, VW's huge manufacturing facility in Wolfsburg uses two cogeneration plants that provide it with heat and power.Krisztian Bocsi | Bloomberg | Getty ImagesThe CEO of Volkswagen told CNBC Wednesday that the German automotive giant was keeping its options open in terms of how it powers its huge manufacturing plant in Wolfsburg, admitting coal would still be needed due to ongoing tensions between Russia and Europe.Speaking to CNBC's Annette Weisbach, VW chief Herbert Diess was…

Ford F-150 Lightning pickup trucks sit on the production line at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan.Bill Pugliano | Getty ImagesDETROIT – Ford Motor on Wednesday reported a 10.5% decline in April sales compared with a year ago, notably narrowing its losses compared with recent months.Ford and the broader auto industry continue to battle through supply chain problems such as a semiconductor chip shortage that has been affecting production for more than a year now. Ford's monthly…

Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021.Andrew Kelly | ReutersInvestors holding beaten-up electric vehicle stocks are bracing for a slate of first-quarter earnings reports, which roll out over the next few days.The asset group has had a rough ride, with the S&P Kensho Electric Vehicles Index off 25% since…

Facebook co-founder and CEO Mark Zuckerberg testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill October 23, 2019 in Washington, DC. Zuckerberg testified about Facebook's proposed cryptocurrency Libra, how his company will handle false and misleading information by political leaders during the 2020 campaign and how it handles its users’ data and privacy.Chip Somodevilla | Getty Images News | Getty ImagesFacebook parent Meta is slowing the pace of hiring as it reckons…

Straddling the border between Brazil and Paraguay, Itaipu commenced electricity production in 1984. The technological upgrades being planned for the site are set to take 14 years.Tifonimages | Istock | Getty ImagesGE Renewable Energy has signed a deal that will see it carry out upgrades to the 14 gigawatt Itaipu hydropower plant, a vast facility straddling the border between Brazil and Paraguay.In a statement earlier this week, GE Renewable Energy said its Hydro and Grid Solutions businesses had signed a contract related…

At least 15 advertising-technology companies had sufficient information to detect that publisher Gannett Co. GCI 3.19% provided inaccurate data to advertisers for more than nine months, but the firms failed to connect the dots and alert their clients, according to researchers who studied the incident.Gannett, owner of USA Today and news outlets in 46 U.S. states, said it unintentionally provided the wrong information in online ad auctions, due to an error that affected…

Peter Thiel has properties all over the world but a proposed luxury lodge in New Zealand may not come to fruition.Marco Bello | Getty ImagesThe future of Peter Thiel's luxury lodge on New Zealand's South Island hangs in the balance after a senior planner for the local council said the tech billionaire's development should be rejected on environmental grounds.In a 978-page report published Monday, Sarah Gathercole, a senior planner for Queenstown Lakes District Council, recommended that planning permission be refused as…

An employee arranges Apple iPhones as customer shop at the Apple Store on 5th Avenue shortly after new products went on sale in Manhattan, in New York City, March 18, 2022.Mike Segar | ReutersApple store employees in Atlanta will vote to potentially form the first unionized Apple retail location starting on June 2nd, according to an NLRB filing reviewed by CNBC.If the organizers succeed, the store would become the first unionized Apple retail outlet in the U.S.The Cumberland Mall Apple store location in Atlanta filed for…

AMD reported first-quarter earnings after the bell on Tuesday, beating analyst estimates for earnings and revenue, sending the stock up as much as 8% in extended trading.Here's how the chipmaker did versus Refinitiv consensus estimates in the quarter ending March:EPS: $1.13, adjusted, versus $0.91 expected, up 117% year-over-yearRevenue: $5.89 billion, versus $5.52 billion expected, up 71% year-over-yearAMD said it expected $6.5 billion in sales in the current quarter, ahead of analyst expectations of $6.38 billion.AMD's…

A camera recognizes employees’ faces and hails an elevator programmed to bring them to their floor. Sensors on the walls measure particles and CO2 levels in meeting rooms, pumping in fresh air when levels rise too high. Higher levels of certain particles mean it is more likely that viruses could be present. In a control room, big screens show every floor in the 23-story building. The headquarters, completed in 2021, is at the forefront of a quiet revolution sweeping through commercial buildings across the U.S. Office…