More Top Stories in Business

Tesla drops, investors question Musk optimism

SAN FRANCISCO — Tesla stock dropped 5% Thursday as investors expressed skepticism over CEO Elon Musk's plan to accelerate and ramp up deliveries of its electric vehicles, with the downdraft likely exacerbated by short sellers. The retreat in Tesla shares (TSLA) comes a day after shares jumped as ...

USA Today · 5 hours ago

Revenue soars at China’s Alibaba; U.S. jobless claims hit a five-week high

E-COMMERCE Revenue soars at China’s Alibaba Alibaba Group posted a 39 percent surge in revenue as China’s dominant e-commerce operator shrugged off a slowing economy with promotions to woo cash-rich consumers. Asia’s largest Internet company posted better-than-expected sales of 24.2 billion ...

Washington Post · 6 hours ago

Banks Skewer Proposal Limiting Arbitration--Update

The plan, which would allow class-action lawsuits, sets up the latest clash between the banking industry and the Consumer Financial Protection Bureau over whether the agency is coming down too hard on lenders and overly restricting their operations. Lauded by consumer advocates, the proposed rule ...

Morningstar.com · 4 hours ago

Senators urge regulators to ID vehicles with possible faulty Takata air bags

By David Shepardson WASHINGTON (Reuters) - Two U.S. Senators urged auto safety regulators to publicly name the makes and models of tens of millions of vehicles with potentially faulty Takata air bag inflators, according to a letter made public late on Thursday. "There may still be 50 million airbags ...

Yahoo! Finance · 5 hours ago

Sanofi: Will Try to Oust Medivation Board Unless Deal Talks Start -- 2nd Update

The Paris-based drugmaker, which has a record of hostile takeovers in the biotech sector, said in the letter that it has had "extensive conversations" with Medivation's shareholders and that it believes there is "overwhelming support" for a deal. "If you are not prepared to engage with us, we have ...

Morningstar.com · 4 hours ago

GoPro Swings to Deep Loss

GoPro Inc. said Thursday it swung to a deep loss in the first quarter, spotlighting the uphill battle the action-camera maker faces in broadening its customer base, though sales beat market expectations. The loss was $107.5 million, or 78 cents a share, down from a profit of 11 cents a share, or ...

Morningstar.com · 6 hours ago

Square Loss Widens as Operating Expenses Surge -- 2nd Update

Shares dropped about 12% after-hours Thursday. Aside from the legal charge, many of the San Francisco company's main business are expanding rapidly. Square's revenue increased 51% to $379 million, above the $344 million estimate of analysts surveyed by Thomson Reuters. But operating expenses grew to ...

Morningstar.com · 4 hours ago

DreamWorks Animation Swings to a Profit

It was the company's first financial update since Comcast Corp. reached a deal to buy DreamWorks for $3.8 billion. The Comcast merger, which faces regulatory review in the U.S. and abroad, is expected to close by year's end. Shares, boosted by Comcast's $41-a-share cash bid, were flat after hours. ...

Morningstar.com · 6 hours ago

Australia's central bank slashes inflation forecast days after surprise rate cut

| A man and a women walk into the Reserve Bank of Australia headquarters in Sydney, Australia. Australia's central bank slashed its inflation forecasts on Friday and warned that the outlook for wages and price pressures were a key uncertainty, suggesting the door was open to another cut in interest ...

CNBC · 2 hours ago

NYC to charge shoppers for using paper or plastic bags

New York City shoppers will have to start paying for paper or plastic bags. New Yorkers are going to start paying if they don't bring reusable grocery bags to the store. The New York City Council approved a measure on Thursday that requires stores to charge at least 5 cents per paper or plastic bag ...

CNN Money · 6 hours ago