What to watch for at the 2024 Geneva auto show
Chinese brands BYD and MG will share the spotlight with Renault and Dacia, as most major players opt out of the show this year.
Stellantis CEO Carlos Tavares' compensation jumps 56% to $40M
Tavares’ 2023 pay included an $11 million transformation incentive to meet milestones tied to challenges the industry is facing on global mobility, technology and the electrification of vehicles.
Suppliers may get high debt under control in 2024
Suppliers, after years of racking up debt amid uneven production schedules and increasing costs, should be in a better position this year to get debt under control, though significant uncertainty remains.
Federal Reserve officials caution against cutting US interest rates too soon or too much
By CHRISTOPHER RUGABER (AP Economics Writer)
WASHINGTON (AP) — Several Federal Reserve policymakers warned Thursday against cutting U.S. interest rates too soon or by too much in the wake of recent data showing inflation stayed unexpectedly high in January.
Their comments echoed the minutes from the Fed’s last meeting in January, released Wednesday. The minutes showed that most central bank officials were concerned about the risk that moving too fast to cut rates could allow inflation to rise again after it has declined significantly in the past year. Only “a couple” of policymakers worried about a different risk: that keeping rates too high for too long could slow the economy and potentially trigger a recession.
Christopher Waller, a member of the Fed’s influential board of governors, titled a written copy of remarks he delivered Thursday, “What’s the rush?”
“We need to verify that the progress on inflation we saw in the last half of 2023 will continue and this means there is no rush to begin cutting interest rates,” Waller said.
Carvana posts narrower net loss in Q4; revenue falls 15%; shares surge
The online used-car retailer reported a narrower fourth-quarter net loss attributable to it of $114 million. Revenue fell 15 percent to $2.4 billion.