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GM Hummer EV production in Detroit.Photo by Jeffrey Sauger for General MotorsDETROIT — Shares of the Detroit automakers closed higher Friday following an afternoon report that President Donald Trump is considering "significant tariff relief" for the production of vehicles in the U.S.Stocks for General Motors, Ford Motor and Chrysler parent Stellantis shifted from trading level or down to closing up between 1% to 4% on the report from Reuters.The news organization, citing Republican Senator Bernie Moreno of Ohio as well as auto officials, said the potential change could "effectively eliminate much of the costs major car companies are paying.""The signal…

A person wearing an outfit inspired by The Eras Tour poses in front of "The Official Release Party of a Showgirl" posters at an AMC theater to celebrate the release of Taylor Swift’s new album "The Life of a Showgirl" in New York City, U.S., Oct. 3, 2025. Kylie Cooper | ReutersTaylor Swift gave the box office a boost this weekend.In partnership with AMC, the singer-songwriter brought a 90-minute movie to cinemas for one weekend only to celebrate the release of her 12th album, "The Life of a Showgirl."The three-day event tallied an estimated $33 million domestically, the biggest album…

Dan Schulman, CEO, Paypal speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.Adam Galacia | CNBCVerizon announced on Monday that the board of directors has appointed former PayPal CEO Dan Schulman as the company's new CEO.Schulman replaces Hans Vestberg, who had led the company since 2018.Shares of the company sank roughly 4% in midday trading.Verizon said Vestberg will remain on the board of directors until the 2026 annual meeting and will serve as a special advisor through Oct. 4, 2026, to ensure a smooth transition and close the deal to acquire Frontier Communications.Verizon on Monday also announced…

CBS News studio at Times Square in Manhattan, New York, United States of America, on July 6th, 2024. Beata Zawrzel | Nurphoto | Getty ImagesParamount Skydance said Monday it has agreed to acquire online publication The Free Press, naming its co-founder and CEO, Bari Weiss, as CBS News' editor-in-chief.The digital upstart publication, which was launched by Weiss in 2021, will be joined with CBS News. Paramount said Monday The Free Press has 1.5 million subscribers, more than 170,000 of which are paid subscriptions.Weiss founded The Free Press after resigning from The New York Times' opinion desk in 2020."Weiss will shape…

Alistair Berg | Digitalvision | Getty ImagesOnline holiday spending in the U.S. is expected to jump 5.3% year over year to $253.4 billion as consumers seek discounts and even enlist the help of artificial intelligence-powered chatbots, according to an Adobe Analytics report released Monday.Yet that growth would still be slower than the year-ago holiday season, when online sales rose 8.7% from Nov. 1 to Dec. 31, the company said. Adobe's data tracks more than 1 trillion visits to U.S. retail websites, 100 million unique items and 18 different product categories.That growth is also below the 10-year average of roughly 13%…

Nike's turnaround plan is showing early signs of progress, but it will "take a while" for the company to return to profitable growth, CEO Elliott Hill said in an interview with CNBC's Sara Eisen aired Monday."When we come to work we think about three brands, and then multiple sports under each brand and then 190 countries that roll up to our four geographies," Hill said in a sit-down interview from the company's headquarters in Beaverton, Oregon. "Each brand times sport, and each [geography] times country, they're at different stages of the evolution." When asked when investors can expect Nike to get…