Capital One is plowing forward with plans to purchase Discover Financial, but the proposed acquisition is expected to face major pushback from regulators – and whether it actually goes through could depend on who wins the presidential election. Before the ink had time to dry on the press release announcing the merger of two of America's largest credit card companies, some lawmakers and consumer groups called for regulators to quash it over antitrust concerns. Ticker Security Last Change Change % COF CAPITAL ...

Tesla is expected to send a software update that will fix a rear camera problem in 8,700 vehicles that could cause an accident, China's market regulator said Friday. The action involving 1,071 imported Model S and Model X and 7,629 China-produced Model 3 is described as a product recall under Chinese regulations, the regulator said. It was not immediately clear if drivers might need, or would be eligible, to return vehicles to Tesla for refunds.Some vehicles falling under the recall have unstable rear camer ...

Artificial intelligence powerhouse Nvidia announced its highly-anticipated fourth-quarter earnings report on Wednesday which showed a massive jump in quarterly revenue from a year ago, reassuring investors that its AI edge is alive and well. Nvidia's revenue in the fourth quarter, which ended on Jan. 28, was up 265% from a year ago and 22% from the prior quarter and totaled $22.1 billion – beating analysts' estimates of $20.6 billion. For fiscal year 2024, Nvidia's revenue rose 126% to $60.9 billion."Accele ...

Tech giant Nvidia is set to report its fourth-quarter earnings after the bell on Wednesday with investors wondering whether it will be able to maintain the surge in growth that has pushed its stock price to record heights in the last year. Nvidia's rise has been linked to optimism surrounding the emergence of artificial intelligence (AI) technologies given the company's role in designing graphics processing units (GPUs) and high-end computer chips used to power large language models and generative AI tools. ...

Ford Motor Co. on Tuesday said it had cut prices on its Mustang Mach-E electric SUV by up to $8,100 after sales fell sharply in January. The No. 2 U.S. automaker's lowest-price 2023 model year Mach E version now has a suggested retail price of $39,895, down from $42,995. The higher-end Mach-E GT spec will cost about $7,600 less, at $52,395. Other versions including the extended-range premium version will drop in price by $8,100 to $48,895. Ford said the price cuts come as the automaker continues "to adapt t ...

General Motors said Tuesday it has temporarily paused sales of 2024 model year Chevrolet Colorado and GMC Canyon mid-size trucks to fix intermittent software quality issues. GM said that a fix has been identified and that its voluntary and temporary pause aims to fix the software issues before they're delivered to customers. The company added that trucks that have received the software fix are being shipped out to dealers and that it plans to lift this hold shortly to speed up deliveries."We are disappointe ...

Capital One Financial's $35.3 billion deal for Discover Financial would create new competition for payments behemoths Visa and Mastercard, potentially helping smoothen the path for regulatory approval, analysts said. The all-stock deal announced on Monday would give Capital One access to Discover's network of payments processing and settlement services, allowing it to cut its reliance on Visa and Mastercard, which have come under fire for their fees.While legal experts expect the deal - the biggest in the g ...

Starbucks is offering an unlikely new flavor in its coffee: pork. The interesting ingredient will be featured as both a new sauce and a garnish in a new savory latte released in China to commemorate the Lunar New Year, according to KABC.The pork-flavored latte combines the pork flavor sauce with the typical dressings of a latte: espresso and steamed milk. The specialty drink will also include extra pork sauce on top of the drink with a piece of pork breast meat skewered on top, dipping into the drink. The " ...

Jeff Bezos has been busy this month selling a massive amount of Amazon stock. The Amazon founder and executive chairman’s sales have occurred in three separate sales and involved nearly 36 million shares to date, filings submitted to the Securities and Exchange Commission (SEC) showed. The shares in the e-commerce giant were collectively worth $6.15 billion after Bezos sold them at a range of prices across six different days. The number of shares and their value in the three rounds of sales, which started F ...

Capital One, a Warren Buffett-backed consumer bank and credit card issuer, will acquire the credit card lender Discover Financial Services, according to a report by The Wall Street Journal that cited people familiar with the matter. Capital One has been working with advisers to "study a deal" to buy Discover and a deal could be announced as soon as Tuesday, per the Journal's report. Bloomberg reported earlier Monday that Capital One was considering making an offer for Discover.Discover has a market value of ...