Money

By Chris Isidore, CNN Shares of upstart EV maker Rivian plunged more than 16% Wednesday after ithe company reported disappointing revenue and gave 2023 delivery guidance that fell short of Wall Street hopes. The company reported a loss excluding special items of $1.6 billion in the fourth quarter, up from $1.2 billion in the year-earlier

By Paul R. La Monica, CNN Novavax, which makes the Nuvaxovid vaccine used to treat Covid-19, posted huge sales gains for the past three years during the height of the pandemic. But the company is now facing serious financial challenges — and has even warned it may not be able to survive. The Gaithersburg, Maryland-based

By Nathaniel Meyersohn, CNN As consumers pulled back on their holiday spending amid biting inflation, it seems that Kohl’s dropped off many shoppers’ lists. Sales at Kohl’s stores open for at least one year dropped 6.6% during the holiday quarter, the company said Wednesday. The retailer also lost $302 million during the quarter. The losses

By Anna Cooban, CNN One of Europe’s biggest media groups has warned journalists that artificial intelligence (AI) could steal their jobs, and has provided tips for how reporters can avoid the chop. The chief executive of Axel Springer — which owns Insider, Politico and German tabloid newspaper Bild — told employees in a memo Tuesday

By Chris Isidore and Peter Valdes-Dapena, CNN General Motors is cutting an unspecified number of white-collar jobs globally, part of its announced efforts to slash costs to remain competitive in the shift to electric vehicles. “We are looking at all the ways of addressing efficiency and performance,” said Arden Hoffman, the company’s chief people officer,

By Jordan Valinsky, CNN Business As sales of canned cocktails and of tequila soar, High Noon is looking to capitalize on that combo. The top-selling adult beverage is introducing a tequila seltzer to its portfolio, marking the four-year-old brand’s first extension beyond its popular vodka lineup. High Noon Tequila Seltzer hits shelves Wednesday in the

By Jordan Valinsky, CNN Kentucky Fried Chicken is bringing back a legend after a nearly a decade. The “KFC Double Down” is coming back for a limited time, as of March 6. The instantly recognizable creation replaces the bread that’s found in a typical sandwich and uses two fried chicken filets as the bun. In