Economy & Business

Business news

Tesla unveiled its much-anticipated Model X on Tuesday night after nearly two years of delays.

CEO Elon Musk took the wraps off the all-electric SUV at an event near the Tesla factory in Fremont, Calif. As an added bonus, he gave keys to a handful of lucky customers who can now call themselves owners of one of the most sought-after vehicles.

Let's go over some of the vitals.

Waukesha Mayor Shawn Reilly wonders if he or other elected leaders can persuade General Electric to change its mind about moving a century-old engine manufacturing plant and its 350 jobs to Canada.

The company says it will leave Waukesha because Congress has not re-authorized the U.S. Export-Import Bank. It helped companies sell products overseas. Conservative Republicans in the House let the bank's charter expire in July because they view the loans it makes as corporate welfare. Canada still has such an agency.

In recent days, we've seen these headlines:

  • Caterpillar is planning to cut up to 10,000 jobs.
  • After standing for 127 years as an industrial giant, Alcoa will be splitting into two smaller companies.
  • Glencore, a global mining giant, is seeing its stock price crumble amid insolvency rumors.

The three events may seem unrelated, but in fact, all are part of one big story: the commodities-price collapse.

Republican candidates need to get on board with addressing climate change, and voters will follow. That's the message Republican businessman Jay Faison of North Carolina is pushing — and he's putting his money behind it.

Say you're a Midwestern farmer in a hospital bed, recovering from surgery or a major illness. It's time for the nurse's check-in, but there's no knock on the door.

At Mercy Hospital in St. Louis, a camera attached to the wall over the foot of the bed whirls around, as a video monitor next to the camera lights up to show a smiling face with a headset on.

"Good afternoon, this is Jeff with SafeWatch," the smiling face says. "Just doing my afternoon rounds."

Ralph Lauren Corporation announced that Stefan Larsson has been named CEO, starting in November. The 75-year-old founder and face of the fashion mega-house, Ralph Lauren, will continue to "actively drive the company's vision," a company statement read.

The revelation that Volkswagen rigged software to cheat on emissions tests got us wondering: What else is the software in your car doing that you don't know about?

Well, that answer, for the time being, will remain a mystery.

That's because there's a little-known law in the U.S. that bars car owners — and researchers — from accessing the software inside vehicles.

There are as many as 100 million lines of computer code in some new cars. They help control the steering, cruise control, air bags, entertainment and anti-skid systems.

On the 18th floor of the Atlanta Financial Center, tech entrepreneurs recently pitched to potential investors over wine and brie.

John Duisberg, co-founder of Cooleaf, which makes a mobile app for employee engagement, tells the crowd he needs $500,000 to double the size of his company. It's got most of that money secured.

Two years ago, it was a different story.

Under fire for misleading governments and customers about its diesel cars' emissions, Volkswagen has a plan to recall millions of vehicles so it can fix the problem. The company has said it sold 11 million cars worldwide that use software to limit emissions only during official testing.

The news comes from a large internal meeting at the company led by Matthias Mueller, who took over as VW's leader last week after Martin Winterkorn's resignation.

"The value of my education is priceless, but the value of my education is also not $140,000 in debt."

That was the statement of a Hunter College graduate with a master's degree, as quoted in the documentary Ivory Tower. And a new national poll suggests that thousands of graduates, especially younger graduates, agree with her.