BUSINESS

Stellantis, the multinational automaker behind brands including Jeep, Dodge and Chrysler, announced a 48% drop in net profit for the first half of 2024, mainly due to declining sales and production issues in the U.S. market. The company reported net income of €5.6 billion ($6.07 billion) in the first six months, down significantly from the…

The U.S. economy posted robust growth in the second quarter, driven by strong consumer and government spending, along with a significant increase in inventories, according to an initial estimate from the Commerce Department released Thursday. From April to June, real gross domestic product (GDP), which measures the value of all goods and services produced, grew…

Wall Street’s most reliable recession indicator started signaling trouble in 2022 and hasn’t stopped since, but so far it has proven wrong every time. The yield on 10-year Treasuries has been lower than that of many shorter-term bonds, a scenario known as an inverted yield curve, which has historically preceded nearly every recession since the…

DETROIT — Ford Motor Company fell significantly short of Wall Street expectations for second-quarter earnings, despite beating revenue forecasts, as long-running warranty issues plague the automaker. Here’s how the company performed against analyst estimates reviewed by LSEG: Earnings per share: 47 cents adjusted vs. 68 cents adjusted expected Automotive revenue: $44.81 billion vs. $44.02 billion…

Several stocks have seen significant price movements after the market close. Below is a summary of the most significant movers in after-hours trading. Cleveland Cliffs (CLF) Cleveland-Cliffs saw a substantial increase in its stock price after reporting better-than-expected quarterly earnings. The company’s strong performance was driven by higher steel prices and increased demand from the…