GM sees China red ink grow in Q3 amid extended sales slump
GM is working to restructure its struggling business in China, where its market share has fallen amid heightened competition, particularly from domestic brands selling low-priced EVs.
Tesla posts Q3 net income of $2.2 billion, forecasts sharply higher 2025 deliveries
Tesla said it expects to launch lower-cost models next year. “Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025.”
How to take control of awkward money conversations
By Kimberly Palmer, NerdWallet
Money can be hard to talk about, especially when it involves family.
“People get weird around money,” says Bobby Soler, a financial advisor with the firm Strategies for Wealth in New York City. “It can be really awkward with family members.”
He knows from firsthand experience. When it came to caring for his grandmother, his family avoided planning discussions, which led to stressful disagreements between siblings. He wants people to prevent that kind of situation by talking about money — even difficult topics like end-of-life planning — well in advance.
Here’s how to handle a few awkward money conversation scenarios:
You want to know if your parents have enough money for retirement
Opening up the conversation by using a recent news article can be an easy way to start, says Dan Casey, founder of the financial firm Bridgeriver Advisors in Bloomfield Hills, Michigan. You could mention that you read an article about the value of using a retirement calculator, for example, or how many people are concerned with having enough money.
Apple and Goldman Sachs must pay $89 million for mishandling Apple Card transactions, CFPB orders
By WYATTE GRANTHAM-PHILIPS
NEW YORK (AP) — A federal regulator on Wednesday ordered Apple and Goldman Sachs to pay a combined $89 million for deceiving consumers and mishandled transaction disputes of Apple Card customers.
The Consumer Finance Protection Bureau orders point to “customer service breakdowns and misrepresentations” around Apple and Goldman’s credit card partnership. Apple failed to send tens of thousands of Apple Card disputes to Goldman, and when such customer disputes were reported, the investment bank did not follow federal requirements for investigating, the agency said.
As a result, many consumers faced long waits to get their money back from disputed charges and, in some cases, saw incorrect negative information added to their credit reports, the CFPB added.
Apple and Goldman were also accused of misleading people who purchased iPhones and other Apple devices about interest-free payments for the credit card. The CFPB found that many customers thought they would automatically get interest-free financing when buying an Apple device with Apple Card, for example, but were instead charged that interest, while Goldman misled consumers about some refund applications.
Lithia saved $50 million more than planned through Q3, sees another $100 million soon
Lithia Motors Inc. by the end of the third quarter reduced expenses by $50 million more than the group’s original target for a cost-cutting initiative launched this year, COO Adam Chamberlain said Oct. 23 on the company’s Q3 earnings call.