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Ineos Grenadier SUVCourtesy Ineos AutomotiveAn automotive startup founded by a knighted billionaire, U.K. chemical mogul and minority owner of one of the world’s most prominent soccer clubs wants to rekindle the rugged SUV market.The company — Ineos Automotive — has produced more than 35,000 off-road SUVs and pickups since starting in 2022, with ambitious growth plans that include potentially expanding vehicle production to the U.S. and a target this year to achieve breakeven, executives exclusively told CNBC.”We’re running it for success. We’re running it for profitability,” Ineos CEO Lynn Calder told CNBC in an interview. “We’re just doing it really…

Max Johnson used to start his workdays by opening a Claude chat and staying in it for hours. Loading audio narration… The cofounder of Briix, a UK startup that helps small businesses use AI, would move fluidly from writing scripts for social media posts to designing graphics to generating documents — all in one long-running thread.That lengthy dialogue meant he burned through more tokens, which are the currency of AI use, but giving so much context also sharpened the model. Johnson and his two cofounders could — and did — work “all hours of the day with no issues,” he…

Citi is eyeing the AI dealmaking frenzy as its moment to close the gap with Wall Street rivals. Loading audio narration… In late February, the bank established an AI Infrastructure group, noting in an internal memo that the build-out could require an estimated $3 trillion in capital by 2030 — and that Citi wanted to build a “leadership position” in the space. The group has united leaders across the investment bank — from technology and communications to energy and power to real estate and crypto — to move faster on financing opportunities.”This is our time,” said Achintya Mangla, who joined…

For years, I balanced two very different worlds. Loading audio narration… By day, I was climbing the corporate ladder, eventually leading large operational teams at companies like Bank of America and later serving as a senior executive overseeing multimillion-dollar programs.Outside the office, another calling was quietly shaping my life: surrogacy.I spent years climbing the corporate ladderMy time at Bank of America culminated in 2014, when I led a 100-person team as vice president of program operations. I thrived in the fast-paced corporate environment and felt challenged every day. I next worked as the chief project management officer for a finance…

Tariffs are the new normal, and executives know it. Loading audio narration… A supermajority — 86% — of US executives surveyed by PwC last month said they expect tariffs to remain a “permanent planning assumption” for them. The Big Four firm published the survey results on Monday.The results include the expectation that tariffs will last “beyond the current administration,” said Rohit Kumar, national tax office coleader at PwC.The outlook marks a big shift from Trump’s first term, when the president implemented his first round of tariffs.Many businesses strongly opposed the strategy. Then-presidential candidate Joe Biden campaigned against the tariffs before…

The vice president of sales at a hot AI startup said he gives candidates a warning before they sign on: Prepare to work hard. Loading audio narration… On an episode of the “20VC” podcast released on Saturday, Carles Reina, the fourth employee at AI voice cloning startup ElevenLabs, said he filters candidates by warning them about how tough the job is.”When I make an offer, I tell every single person ElevenLabs is going to be extremely difficult,” Reina said. “We are a hard company to work for because we have extremely high expectations.”He said that he tells them they would…

Rory McIlroy, who just won the Masters tournament for the second year in a row, said he was treating the career milestone differently this time. Loading audio narration… In response to a reporter asking whether he would take time off to soak in the win like he did last year, the Northern Irish golfer said he considered this win “just a part of the journey,” and there are still many things he wants to achieve.”I felt like the Grand Slam was the destination, and I realized it wasn’t,” he said on Sunday. “I’m on this journey. I’ve just won my…

Goldman Sachs on Monday posted first quarter results that topped expectations on record equities trading results and higher-than-expected investment banking revenue.Here’s what the company reported:Earnings: $17.55 per share vs. $16.49 LSEG estimateRevenue: $17.23 billion vs. $16.97 billion expected The bank said profit climbed 19% from the year-earlier quarter to $5.63 billion, or $17.55 per share. Revenue climbed 14% to $17.23 billion.Trading desks across Wall Street were busy at the start of the year as institutional investors set new positions against the churn of AI-led disruption in markets. For Goldman, that resulted in its biggest quarter from equities trading, helping propel…

War has ravaged the Middle East for 43 days, but the damage could take years to repair. Loading audio narration… Kristalina Georgieva, the director of the International Monetary Fund, said the impact of the Iran war is already “baked” into the economy on CBS News’ “Face the Nation ” on Sunday.She tallied the conflict’s hits to energy: sitting tankers that can’t move to their destinations, dozens of energy infrastructure sites hit across the Gulf, and missile and drone attacks on Qatari gas fields that will take years to repair.”We are going to see some drag of this crisis over the…

Oil prices spiked past $100 per barrel after President Donald Trump imposed a blockade of the Strait of Hormuz in response to failed peace talks between Iran and the US. Loading audio narration… Brent crude oil futures reached $102 per barrel on Sunday evening, up $7 from the previous close price. West Texas Intermediate also rose $7 to reach $104 a barrel.Oil prices have skyrocketed globally since the US and Israel’s war on Iran began in February. Iran retaliated by effectively closing traffic through the Strait of Hormuz. Around 20% of the world’s oil supply and liquefied natural gas passes…