Rivian’s Cash Burn Was $1.7 Billion

Rivian’s Cash Burn Was .7 Billion

Photo: Rivian EV maker Rivian is losing money like it’s going out of style, there’s relatively little inventory left on dealer lots, and Mazda. All that and more on this glorious Friday edition of The Morning Shift for August 12, 2022. 1st Gear: Rivian Lost Nearly $2 Billion In A Few Months Electric truck maker … Read more

‘There will be blood on streets,’ Google execs warn employees about layoffs

‘There will be blood on streets,’ Google execs warn employees about layoffs

As Big Tech companies begin to lay off employees in the global economic downturn, Google executives have reportedly warned workers to either boost performance or prepare to leave as “there will be blood on the streets” if the next quarterly earnings are not good. In a company message viewed by Insider, Google Cloud sales leadership … Read more

Tesla made misleading claims about

Tesla made misleading claims about

New York CNN — Tesla’s autopilot and self-driving claims are under fire again, this time from the California Department of Motor Vehicles in a complaint it filed on July 28. The complaint alleges that the company made “untrue or misleading” statements in advertisements on its website by claiming that Tesla vehicles were, or could be, … Read more

Sony Says Call Of Duty Is Essential, Xbox Disagrees

Sony Says Call Of Duty Is Essential, Xbox Disagrees

Image: Activision Microsoft, in a bid to downplay the possible ramifications of its attempted acquisition of Activision to various international regulating agencies, is arguing that the call of duty publisher it’s spending billions of dollars on doesn’t actually produce any games that could be considered “must haves.” Meanwhile, Sony is pushing back and explaining that … Read more

Cold showers and no lights: How one German city is fighting Russia’s energy battle

Cold showers and no lights: How one German city is fighting Russia’s energy battle

Berlin, London CNN Business — The German city of Hanover has banned hot water in public buildings and has introduced measures to reduce heating and energy usage as Europe faces a potential natural gas crisis this winter. “Every kilowatt-hour saved saves the gas storage tanks,” said the mayor’s office in a news release on Wednesday. … Read more

Facebook Tries Buying App, Gets Sued For Over VR Monopoly

Facebook Tries Buying App, Gets Sued For Over VR Monopoly

Image: Within It’s been a very bad year so far for Meta, the company formerly known as Facebook, in ways extremely unique to being one of the biggest tech companies in the world. Despite still making almost $7 billion in profit in recent months, TikTok is eating its lunch, the stock price is in shambles, … Read more

The earnings season is off to a rocky start. Here’s what to look out for next

The earnings season is off to a rocky start.  Here’s what to look out for next

Investors are scouring second-quarter earnings reports, including several landing this week in Canada and the US, for signs of an economic slowdown and just how bad it could get. The impact of surging inflation and energy prices on corporate margins and revenues, and the outlook for the last half of this year, are all expected … Read more

Tesla subpoenaed over Elon Musk’s tweets…again

Tesla subpoenaed over Elon Musk’s tweets…again

New York CNN Business — The Securities and Exchange Commission apparently isn’t done with Elon Musk and his tweets quite yet. Tesla (TSLA) disclosed in a quarterly regulatory filing Monday that it received a new subpoena from the SEC on June 13, related to “our governance processes around compliance with the SEC settlement.” That settlement, … Read more

Near-record $1.7-billion poured into Montreal in first half of 2022

Near-record .7-billion poured into Montreal in first half of 2022

Montreal’s skyline on March 25, 2020.Graham Hughes/The Canadian Press Canadian and international companies continue to make record investments in the Montreal area this year as the region shakes off the effects of the continuing COVID-19 pandemic, but a slowdown looms in the months ahead amid the prospect of recession. Quebec’s most sweeping language overhaul in … Read more

Stocks week ahead: Netflix’s most consequential earnings report is coming

Stocks week ahead: Netflix’s most consequential earnings report is coming

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — Netflix, once a darling of Wall Street, is suddenly on the ropes. … Read more