Still, even with the second quarter production and sales problems, CFO Kirkhorn said Tesla is "still pushing" to reach that target, an effort that "has become more difficult but it remains possible with strong execution," he said. Shares of Tesla (TSLA) were slightly higher in after-hours trading immediately following the report. The stock is down 30% for the year.

The US economy has now regained all jobs lost during the pandemic, after a blowout July jobs report that showed a gain of 528,000 jobs, according to data released Friday by the Bureau of Labor Statistics. The massive monthly gain was more than double the 250,000 that economists were expecting, according to Refinitiv. The unemployment rate ticked down to 3.5% after holding at 3.6% for the past four months. The July jobless rate matched the half-century low last seen in February 2020. * Friday&...

Higher prices, higher interest rates"The big headwinds for consumers are price inflation and higher interest rates. And inflation could erode the excess savings consumers accumulated through the pandemic, especially if price increases continue to run ahead of wage growth," said Capital One CEO Richard Fairbank on the company's earnings conference call Thursday. * Higher rates also would likely "push up" how much it costs for consumers to pay interest on their monthly bills, Fairbank adde...

People need to recharge, tooAs I sat and worked inside the Spotsylvania Town Centre mall I realized I'd been dumb. I had already stopped twice, at rest stops in New Jersey and Delaware. The Delaware stop, at the Biden Welcome Center, had EV fast chargers. I could have used one even though the car's navigation didn't suggest it. Stopping without charging was a lost opportunity and it cost me time. If I'm going to stop to recharge myself why not recharge the car, too? But th...

What consumers and companies can do about itWhen Corey Dehmey worked in corporate IT departments, he had to figure out what to do with hundreds of company computers that were no longer up to date. Now, as executive director of non-profit Sustainable Electronics Recycling International (SERI), he is part of a group trying to tackle the e-waste crisis by bolstering cooperation between the government, private sector and consumers. "E-waste is the result of not planning for the product throughout...

Pret A Manger opened in London in 1986 and now has more than 500 shops in the United Kingdom, United States, France, Dubai and Hong Kong. Last September, it announced plans to double the size of the business within five years, including moving into five new markets by the end of 2023. Reliance Brands said it would "open the food chain across the country starting with major cities and travel hubs," but a spokesperson declined to share more details. * * This is not the first time Ambani has str...

The Fed as we know it gradually moves interest rates up and down at pre-designated meetings. They explain their decision-making with as much communication as possible and release their economic projections to give Americans an idea of what's coming in the future. That wasn't the case in 1980, when inflation soared to 14.6%, the highest level on record. Under the leadership of Paul Volcker, Fed officials hiked and cut their benchmark rates sharply at unscheduled meetings without corr...

Not all recessions are the same"Recession is not our base case. We continue to expect the economy to slow meaningfully but avoid a 2022 recession," said Katie Nixon, chief investment officer for Northern Trust Wealth Management, in a recent report. But she added that "it is still possible that the technical definition of recession may be met." Boston Consulting Group's Farag also pointed out that even if the economy has already tipped into recession mode, that doesn't mean a downtur...

All eyes on the FedThe Federal Reserve's meeting next week is also weighing on mortgage rates. Markets and economists anticipate another 75-basis-point hike to curb inflation. The question is whether a hike that size will be enough, or if the Fed will push for a 100-basis-point increase. The Federal Reserve does not set the interest rates borrowers pay on mortgages directly. Rates tend to track 10-year US Treasury bonds. But mortgage rates are indirectly impacted by the Fed's action...

ICYMI: Earlier this month, Equifax disclosed that it had sent out incorrect credit scores to banks and other lenders for potentially hundreds of thousands of customers. For nearly 300,000 people, that error resulted in a 25-point or higher shift in their credit scores — enough for some people to be denied a loan. To be clear: Equifax has, like, one job. It's one of three big credit scoring firms that are supposed to accumulate consumer data that gets mysteriously boiled down to a number ...

ICYMI: Earlier this month, Equifax disclosed that it had sent out incorrect credit scores to banks and other lenders for potentially hundreds of thousands of customers. For nearly 300,000 people, that error resulted in a 25-point or higher shift in their credit scores — enough for some people to be denied a loan. To be clear: Equifax has, like, one job. It's one of three big credit scoring firms that are supposed to accumulate consumer data that gets mysteriously boiled down to a number ...

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business)There's no denying that the US economy is at a strange juncture that's left even top experts scratching their heads. "If you're not a little confused about the economy, you're not paying attention," former White House economic adviser Jason ...

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business)There's no denying that the US economy is at a strange juncture that's left even top experts scratching their heads. "If you're not a little confused about the economy, you're not paying attention," former White House economic adviser Jason ...

Still, the company's sales decline is expected to continue into next quarter. Meta said it expects revenue for the current quarter to be between $26 billion and $28.5 billion. Even at the high end, that would mark a 1.76% decline from the prior year. Meta pointed to lower revenue from its VR unit, Reality Labs, and ongoing weakness in online advertising demand caused by economic uncertainty as factors behind the guidance. Other tech companies, including Twitter and Snap, are also confron...

Still, the company's sales decline is expected to continue into next quarter. Meta said it expects revenue for the current quarter to be between $26 billion and $28.5 billion. Even at the high end, that would mark a 1.76% decline from the prior year. Meta pointed to lower revenue from its VR unit, Reality Labs, and ongoing weakness in online advertising demand caused by economic uncertainty as factors behind the guidance. Other tech companies, including Twitter and Snap, are also confron...