A Waymo self-driving vehicle seen in Phoenix, Arizona on Feb. 27, 2025. Leslie Josephs | CNBCAlphabet-owned Waymo and the auto manufacturing giant Magna International plan to double robotaxi production at their new plant in Mesa, Arizona, by the end of 2026, the companies announced Monday.The “Waymo Driver Integration Plant,” a 239,000 square foot facility outside of Phoenix, will assemble over 2,000 Jaguar I-PACE robotaxis, the Alphabet company said in a statement. Waymo will add those self-driving vehicles to its existing fleet that already includes around 1,500 robotaxis.The plant will be, “capable of building tens of thousands of fully autonomous Waymo vehicles per…
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Erste bank headquarters in Budapest.ATTILA KISBENEDEK I AFP I Getty ImagesAustria’s Erste Group Bank acquired a 49% stake in Santander’s Polish unit for around 6.8 billion euros ($7.7 billion), Santander and Erste said Monday, driving shares in Santander Bank Polska down around 5% in Warsaw.Santander and Erste also reached a deal for Erste to acquire 50% of the Spanish lender’s Polish asset management business for 200 million euros, they said.Erste said it would fund the acquisitions exclusively from internal resources.Its shares jumped 6.46% while those in Santander were up 0.3% by 0830 GMT.Santander, the euro zone’s biggest lender by market value, said it would use part of the proceeds…
The inevitable is finally upon Berkshire Hathaway shareholders — Warren Buffett, arguably the greatest investor in modern times, is handing over his reins after an unmatched 60-year run . What does it mean for the conglomerate and its stock that has just reached new heights? Shareholders and Wall Street analysts generally believe Berkshire shares could experience some short-term volatility, especially after a record-setting rally elevated valuations. Even though the 94-year-old “Oracle of Omaha” is irreplaceable in so many ways — his exceptional capital allocation skills, unrivaled persona and generosity in sharing his wisdom on business and life — most are…
Sam Altman, CEO of OpenAI, is seen through glass, during an event on the sidelines of the Artificial Intelligence Action Summit in Paris, France, on Feb. 11, 2025.Aurelien Morissard | Via ReutersOpenAI has bowed to pressure from civic leaders and ex-employees, announcing in a blog post on Monday that its nonprofit would retain control of the company even as it restructures into a public benefit corporation.The company, which is backed by Microsoft and was recently valued at $300 billion in a funding round led by SoftBank, said it made the decision after discussing the matter with the attorneys general of…
U.S. President Donald Trump announces the NFL draft will be held in Washington, at the White House in Washington, D.C., U.S., May 5, 2025. Leah Millis | ReutersPresident Donald Trump said Monday that he will ask Hollywood studios if “they’re happy” with his proposal to impose tariffs of 100% percent on foreign-made films.”I’m not looking to hurt the industry, I want to help the industry,” Trump told reporters at the White House.”So we’re going to meet with the industry,” he said. “I want to make sure they’re happy with it because we’re all about jobs.”Trump’s comments came a day after…
Liu Miao has sold clothing on Amazon to wholesale buyers in the United States for the past five years. That trade has come to an abrupt stop.Mr. Liu owns a small factory in Guangzhou, long the center of China’s highly competitive garment industry. He and other factory managers, already dealing with tight profit margins, said last week that the combination of tariffs and President Trump’s new tax on cheap imports had cut deeply into their businesses. Costs along the supply chain are also higher.The tariffs have made it impossible for Mr. Liu to continue selling on Amazon, where he previously…
Although President Donald Trump’s tariffs have posed a threat to the artificial intelligence boom, Jonathan Gray of Blackstone thinks there’s more gas in the tank for data center usage demand. “I think this trend is powerful. I think it will continue,” the firm’s president and chief operating officer told CNBC’s ” Squawk on the Street ” on Monday. While he added that chip export restrictions are “slowing things down” a bit and that U.S.-controlled data centers would be a solution that could limit security concerns around that area, he continued by saying that “overall, we still see a ton of…
Investors who believe the worst of the tariff news is over may be celebrating prematurely, according to Adam Parker, founder of Trivariate Research. Uncertainty around President Donald Trump’s high tariff policies bogged down markets in March and April, sending the S & P 500 almost 19% from its all-time high in February to the April 8 close. But stocks made a steady comeback in the past month as investors assumed the tariff picture would only grow clearer and less burdensome in the future. The S & P 500 has rallied 14% since April 8 and is now down less than…
U.S. President Donald Trump speaks with the media aboard Air Force One as he flies from West Palm Beach, Florida en route to Joint Base Andrews in Maryland, on May 4, 2025, returning to the White House after spending the weekend in Florida.Saul Loeb | Afp | Getty ImagesPresident Donald Trump again is downplaying the threat of supply shortages from his tariffs, even if it means fewer toys for American children.”All I’m saying is that a young lady, a 10-year-old-girl, 9-year-old girl, 15-year-old-girl, doesn’t need 37 dolls,” Trump told reporters aboard Air Force One on Sunday.”She could be very happy…
Bill Gates at The 11th Breakthrough Prize Ceremony held at Barker Hanger on April 05, 2025 in Santa Monica, California. (Photo by Gilbert Flores/Variety via Getty Images)Gilbert Flores | Variety | Getty ImagesSINGAPORE — Rich countries “owe it to the world” to get themselves down to net zero emissions, according to Microsoft founder Bill Gates.Gates, who is also chairman of the non-profit Gates Foundation, was speaking at the opening dinner of Ecosperity in Singapore on Monday, the flagship sustainability event for state investor Temasek. In a fireside chat with Singapore’s Ambassador for Climate Action Ravi Menon, Gates said that rich countries…
