Amazon’s experiment with delivery robots might have a science-fiction feel, but the potential cost savings for the e-commerce giant would be anything but fantasy. Morgan Stanley estimated the e-commerce and cloud giant is now investing to automate roughly $200 billion in logistics costs — a sum equal to 35% of its online retail revenue — which includes using AI-powered humanoid robots to make deliveries. The new robots, according to a report in The Information , would go directly to customers’ doors from Rivian electric vans, reducing delivery times and labor costs for the billions of packages Amazon ships annually. The company is…
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With interest rates still elevated, investors continue to find juicy yields in collateralized loan obligations. Some $4.7 trillion has flowed into CLO and bank loan exchange-traded funds since the start of the year, following 2024’s record $25.6 billion in inflows , according to State Street. While investors fled the funds, along with many others, in April, the ETFs have bounced back. In May, $2 trillion in new money moved into bank loan and CLO ETFs, the ninth best month ever, State Street analyst Matthew Bartolini said in a May 31 note. CLOs are securitized pools of floating-rate loans to businesses…
U.S. Secretary of the Treasury Scott Bessent, U.S. Trade Representative Jamieson Greer, Li Chenggang, China’s International Trade Representative and Vice Minister of Commerce and Chinese Vice Premier He Lifeng, prepare to discuss during a bilateral meeting between the U.S. and China, in Geneva, Switzerland, May 11, 2025. Keystone/eda/martial Trezzini | Via ReutersTreasury Secretary Scott Bessent and two other Trump administration officials will meet with their Chinese counterparts in London on Monday for renewed trade talks, President Donald Trump said.Bessent, who has been leading the administration’s efforts to craft a deal with Beijing, will be joined by Commerce Secretary Howard Lutnick…
A Tesla vehicle is parked on West Executive Avenue near the White House and the Eisenhower Executive Office building in Washington, D.C., U.S., June 5, 2025.Jeff Mason | ReutersPresident Donald Trump is the latest Tesla owner to think about getting rid of his car after souring on Elon Musk.Trump is considering selling, or even giving away, the red Model S Tesla he bought in March, a senior White House official told NBC News, a day after the president’s alliance with Musk dramatically ruptured.Trump purchased the electric vehicle to show support for Tesla, whose CEO, Musk, had come under fire from…
Cameron Winklevoss, co-founder and president of Gemini Trust Co., left, and Tyler Winklevoss, co-founder and chief executive officer of Gemini Trust Co., on stage during the Bitcoin 2025 conference in Las Vegas, Nevada, US, on Tuesday, May 27, 2025. Bridget Bennett | Bloomberg | Getty ImagesGemini, the cryptocurrency exchange and custodian founded by Cameron and Tyler Winklevoss, has confidentially filed for an IPO in the U.S., according to a press release on Friday. The number of shares and the pricing terms have not yet been decided upon, and the company said a listing “is expected to occur after the SEC…
Ritholtz Wealth Management CEO Josh Brown said Tesla investors will look past the online feud between Elon Musk and President Donald Trump that led to a sell-off on Thursday. Musk, the CEO of Tesla and a key supporter of Trump during his election, exchanged barbs with the president online on Thursday — a shocking turn given their previous allegiance. Shares of the electric vehicle maker tumbled more than 14% on Thursday, but gained more than 5% in midday trading on Friday. “The drama on Twitter is hilarious. Of course, everyone’s having a great time,” Brown said on CNBC’s “Halftime Report,”…
Momentum at Texas Roadhouse is bouncing back just in time for summer. The news Club stock Texas Roadhouse rose more than 1% to $194 each on Friday after UBS said both foot traffic and sales are picking up. UBS analysts, who expressed confidence after meeting with Texas Roadhouse management, expect to see sustainable outperformance going forward. American consumers’ confidence in the economy remains relatively low despite a more positive outlook for May. Fortunately for casual dining operator Texas Roadhouse, diners have still been coming through the doors, noted the analysts. UBS estimates a 5% increase in second-quarter to-date same-store sales, saying…
FILE PHOTO: A laborer operates a bulldozer at a site of a rare earth metals mine at Nancheng county, Jiangxi province March 14, 2012.Stringer China | ReutersChina has granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, two sources familiar with the matter told Reuters, as supply chain disruptions begin to surface from Beijing’s export curbs on those materials.At least some of the licenses are valid for six months, the two sources said, declining to be named because the information is not public. It was not immediately clear what quantity or items are covered by the…
A demonstrator speaks through a megaphone during a Defend Our Schools rally to protest U.S. President Donald Trump’s executive order to shut down the U.S. Department of Education, outside its building in Washington, D.C., U.S., March 21, 2025.Kent Nishimura | ReutersThe Trump administration on Friday asked the Supreme Court to lift a court order to reinstate U.S. Department of Education employees the administration had terminated as part of its efforts to dismantle the agency.Officials for the administration are arguing to the high court that U.S. District Judge Myong Joun in Boston didn’t have the authority to require the Education Department…
Omada Health shares jumped more than 40% in their Nasdaq debut Friday after the virtual chronic care company priced its stock at $19 per share in its IPO.The stock opened at $23 and quickly traded past $27.The company said in a press release late Thursday that it sold 7.9 million shares in the offering, amounting to about $150 million. The pricing was in the middle of the expected range, and valued the company at just over $1 billion, though that number could be higher on a fully diluted basis.Omada, founded in 2012, is trading under ticker symbol “OMDA.” The company…
