Carvana to cut 1,500 jobs as online auto dealer’s troubles mount
Carvana Co. said it will eliminate about 1,500 jobs, adding to the growing list of layoffs across corporate America as ...
Tag: bloomberg news
Carvana holders gird for worst with credit risk, losses mounting
It took Carvana Co. just a few years to grow from a startup to the second-biggest used car seller in the US. ...
US inflation slows more than forecast, gives Fed downshift room
US inflation cooled in October by more than forecast, offering hope that the fastest price increases in decades are ebbing ...
Subprime auto bonds hit by skipped payments, falling used-car values
Subprime auto loan borrowers are increasingly falling behind on payments, and the value of used cars is dropping, two trends ...
Peristent chip shortage forces Toyota to revise output target
Toyota Motor Corp. lowered its production target while sticking to a conservative profit outlook because of a persistent shortage of ...
US economy rebounds as consumers, businesses show resilience
The US economy rebounded following two quarterly contractions thanks in part to resilient consumers and businesses, though inflation and higher ...
Driverless car development sets ablaze a bonfire of billions
Autonomous vehicle companies and suppliers have collectively spent around $75 billion developing self-driving technology, with scant sign of meaningful revenue emerging from robo-car ...
Tesla drops as Musk says demand ‘a little harder’ to come by
Tesla Inc. shares declined in early trading after the electric-car maker reported lower-than-expected revenue and acknowledged it isn’t immune from economic headwinds. ...
