We're here at Rivian's engineering labs in Palo Alto, and right behind me was their first product, the R1T. Rivian makes high end electric vehicles. The trouble is they start above $70,000.They want to change that. They're making now a vehicle that hits right at the center of the market, the R2, which starts at $45,000. This is what Rivian says will take it from being a niche automaker of high end vehicles to a truly mainstream and profitable company.The R2 is a test to show Wall Street that they can actual ...

Companies invested more than $200 billion into US EV manufacturing across the US through 2024, mostly in Republican areas and much of it in the South. But now it's all in jeopardy. Automakers are canceling factories, cutting production, laying off workers and shifting back to gas.The federal government has rolled back EV funding and is planning to relax emissions standards. Now, some say automakers stand to lose $100 billion or more on their investments in the US. We've never seen anything like this in the ...

I have some bad news for you. America's k-shaped economy is here to stay. If you haven't heard that term yet, well, it's a fancy way of saying the rich get richer and the poor get poorer.It pretty much describes the country's worsening inequality gap. Economies can be classified in a few different ways as they rebound from a recession. Economists have widely agreed that the US has been in a K shape coming out of the pandemic.I've been writing about this for a few years. The K-shaped recovery explains how hi ...

It feels like every movie nowadays is just another sequel. Yes, I'm talking about a fifth Toy Story and a seventh Scream movie. It's been a trend playing out in Hollywood for decades, but it's even more prevalent right now.One last time. In 2025, more than half the movies released were franchises. Basically, movie studios want to guarantee success, so they're making films using characters and stories you already know.And increasingly, they're backing away from trying out new ideas. We're coming out of an er ...

This Fed horse race has swung a bunch of different ways since the process began last September. Kevin Walsh is a former Fed governor, has a reputation as a bit of a maverick. He believes, basically that the Fed needs kind of a housecleaning.This isn't the first time you've heard me in the last decade say we need regime change at the Fed. It's not just about a person. It's about an approach to economics. It's about approach to what they're doing.And I'm troubled when I see them moving the goalposts. He's mos ...

We're at risk of a government shutdown because of a federal immigration action in Minnesota. Now, in the past few weeks, we've seen two US citizens killed who were protesting the US federal immigration response in Minnesota. Those citizens were Renee Goode and Alex Peretti.Democrats in the Senate were ready to vote for this package of bills to fund about half of the government. But now, after the pair of killings in Minnesota, they're threatening to withhold their votes unless Senate Republicans remove the ...

In the wake of violent confrontations between federal agents and protesters over President Donald Trump's immigration policy, corporate leaders are now starting to do something they've rarely done in the first year of Trump 2.0%: disagree with the president. I think they should change their approach to immigration. I've said it.JPMorgan CEO Jamie Dimon publicly criticized Trump's immigration policy, making an apparent reference to videos of confrontations between ICE agents and their targets. Of course, I d ...

Five years ago, retail investors betting on GameStop were derided as "dumb money." The events were synonymous with stock market gambling. Consensus on Wall Street was that most individual traders would retreat after Covid, but those assumptions have been proved wrong. Average investors are now outperforming the market and becoming much more influential than many predicted.Professional traders have been forced to pay close attention to retail traders, who are now influencing market structure and fueling the ...

After the surge of ICE agents came to Minnesota, Renee Good was shot and killed by a federal agent. She was in her car. That alone sparked a lot of outrage.And then this weekend, with the killing of Alex Pretti, ICU nurse, I think the two shootings combined really led to Washington, D. C. , and a number of lawmakers raising significant concerns.ICE stands for Immigrations and Customs Enforcement. It was something that began after the 9/11 attacks, with the goal to really bolster national security, keep Amer ...

Have you noticed cafes popping up inside your favorite retail stores. I'm at the Uniglo store on Fifth Avenue in New York City, and behind me is a coffee bar tucked away in the back corner of the store. Customers can order a matcha or a latte while they shop.There's even a seating area. Ralph Lauren and Capital 1 were some of the pioneers of the retail coffee concept. They opened their first locations in New York City over a decade ago.Capital 1 told CNBC that it now operates 65 cafes nationally and Ralph L ...