Author: Editor

In the era of leaner companies, even the C-suite isn’t insulated from downsizing. Just look at Lucid.The luxury EV maker filed an 8-K to the SEC on Monday detailing plans to cut about 18% of its US workforce — including full-time employees, contractors, and hourly manufacturing workers at its AMP-1 factory in Arizona.But the restructuring is also notably impacting its C-Suite, with Lucid announcing “the elimination of the Chief Operating Officer position.” As a result, Marc Winterhoff, Lucid’s COO who had served as interim CEO earlier this year before resuming the chief operating role when a new CEO was announced,…

“Irrational exuberance” continues to loom large over financial markets nearly three decades after Alan Greenspan coined the phrase.We learned Monday that Greenspan, former Fed Chair, died at 100 years old from complications of Parkinson’s disease. He led the Fed from 1987 through 2006, running the central bank during booms and busts that spanned four different presidencies.I spoke to Greenspan a decade ago and got him to reflect on his famous December 1996 speech, in which he used the words “irrational exuberance” to suggest that stock prices might have reached extreme levels. At the time, tech stocks were beginning to explode…

Venture capitalist Chamath Palihapitiya is getting roasted on X for saying possessions are “worthless.”In a video posted on his YouTube channel on Friday, Palihapitiya said possessions are “a sign of insecurity, and they’re a sign of a rampant ego, and they’re a sign of an unsettled mind.”In the video, Palihapitiya is wearing a plush, unbranded, off-white hoodie. There are no obvious clues about its maker, but some online sleuths have been quick to say it’s a Loro Piana, the Italian brand synonymous with quiet luxury and famously behind Kendall Roy’s $625 baseball cap in “Succession.”Some people shared screenshots on X…

I was standing in the security line at San Francisco International Airport when a sudden panic seized me.I was 50 years old. I’d just quit my job as a hospital pharmacist, packed my life into two suitcases, and was on my way to Ajijic, Mexico, where I didn’t know anyone.For months leading up to that moment, I’d been excited to retire abroad early and pursue writing, something I’d wanted since grade school.But as I waited in that line, one frightening question kept repeating in my head: Was I making the biggest mistake of my life?At first, I struggled with losing…

Brian Cornell, Executive Chairman of the Target Corporation.Anjali Sundaram | CNBCTarget has promised investors that it’s pursuing an aggressive turnaround with a new CEO at the helm, but its longtime former top executive Brian Cornell still leads the retailer’s board of directors — and some major investors are signaling they’re hungry for change. Shareholder backing for Target’s former CEO and current executive chairman Cornell fell to its lowest level ever during the company’s annual general meeting this month.While Cornell, 67, was comfortably reelected to his position on Target’s board of directors, he saw the steepest drop in support since he…

Lucid electric vehicles are seen at the New York International Auto Show on April 2, 2026.Danielle DeVries | CNBCLucid Group said Monday it is cutting its U.S. workforce by approximately 18% as part of a cost-savings plan.The all-electric vehicle maker said its plan would give it annualized cost savings of approximately $158 million.The company also said Monday that its chief operating officer, Marc Winterhoff, is leaving the company effective immediately. Winterhoff was interim CEO at the company until Silvio Napoli took over the top job on June 1. The role of COO has been eliminated, Lucid said. Lucid’s workforce reductions include…

Demonstrators hold a sign saying “PROTECT MINORITY VOTING RIGHTS” outside the U.S. Supreme Court in Washington, D.C., in 2025. Jemal Countess/Getty Images for Legal Defense Fund hide caption toggle caption Jemal Countess/Getty Images for Legal Defense Fund By declining to take up a lower court ruling, the U.S. Supreme Court has dealt another blow to the Voting Rights Act. The court announced Monday that it will not review an Arkansas-based lawsuit, leaving in place a 2025 appeals panel ruling that ends a long-used tool for protecting minority voters from discrimination under the landmark law in seven mainly Midwestern states. That…

United Parcel Service (UPS) trucks are parked at a UPS drop yard on Oct. 28, 2025 in Vernon, California.Mario Tama | Getty ImagesUnited Parcel Service is investing $48 million in 27 temperature‑controlled facilities as the industry sees a boom in healthcare logistics, CNBC has learned exclusively.The facilities, located across the Americas, Europe and Asia, are optimized for moving around shipments that need to be kept at certain temperatures. The company said the investment will help it stay ahead of a boom in medicines and pharmaceuticals — like some GLP-1s — that have to be kept at certain temperatures by improving…

Rush hour is turning into every hour.The fight for fully remote jobs is dead, but a small victory for many employees has been a flexible schedule. A 9-to-5 doesn’t necessarily mean being at the office from 9-to-5.But with no standard arrival or departure times, people’s non-traditional commutes have meant we’re sitting in traffic or on congested trains no matter what time of day it is, writes BI’s Juliana Kaplan.The distance people travel to get to work is also on the rise, which could be why they’re keen to leave the office early. In 2024, 9.3% of workers traveled an hour…

Alan Greenspan, the legendary central banker who led the Federal Reserve for nearly two decades, has died at 100.”Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s disease,” Greenspan’s wife, Andrea Mitchell, said in a statement given to NBC. Mitchell is the chief Washington correspondent and the chief foreign affairs correspondent for NBC News.”He was a giant of a man who helped shape the US economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes,” she said.”To me he was my husband, who shaped my life…