Tesla's electric vehicle sales plunged in the second quarter, the second consecutive period of year-over-year declines.
⬇️ EV deliveries— a close proxy for sales — fell 13.5% to 384,122 in Q2, compared with a year earlier.
🎯 Sell-side analysts had projected a range of 380,000–390,000, though "online trackers" expected 345,000–360,000, according to Evercore ISI.
🔍 Zoom in: Deliveries of the Model Y crossover and Model 3 sedan fell 11.5%.
Deliveries of other vehicles — the category that includes the Cybertruck — plunged 51.8%.
What they're saying: "The good news: that -14% should mark the bottom (it was -13% in March '25). I have September down 10% and December flat," Deepwater Asset Management managing partner Gene Munster wrote on X.
Chuck E. Cheese — the pizza-and-arcade chain "where a kid can be a kid" — is opening a new arcade concept geared toward adults.
State of play: The company is launching Chuck's Arcade with 10 locations already open and more "on the horizon."
🕹️ Chuck's Arcade will feature the "hottest titles" in arcade games, plus "a curated collection of retro legends" such as Ms. Pac-Man, Mortal Kombat and Donkey Kong.
The big picture: Chuck E. Cheese has been on a roll after surviving bankruptcy during the pandemic and ditching its eponymous animatronic mouse.
The intrigue: Chuck's Arcade enters a space dominated by Dave & Buster's, where sales have been slumping.
Is the trade deal with Vietnam announced Wednesday good news or bad news for U.S. companies? Stock investors may need more time to think.
The big picture: U.S. importers — from apparel to furniture to toys — took a hit in April when Trump threatened major new tariffs on the popular manufacturing hub. Today's deal eased tensions but left steep tariffs in place.
The director of the Federal Housing Finance Agency on Wednesday called on Congress to investigate and potentially remove Federal Reserve chair Jerome Powell over his testimony about renovations to the Fed's headquarters.
Why it matters: It is an unusual— and rare — move for a top administration official, one that shows how far the White House is willing to go to pressure the central bank leader, who has resisted relentless demands to cut rates.
President Trump's tariffs add about $82 billion in total new costs for all mid-sized U.S. companies, per a new estimate — a sum that would more than double if rates return to levels seen at the height of trade tensions in April.
Why it matters: That finding, from the JPMorganChase Institute, is among the first to tally the hit to select businesses that are more likely to rely on international trade.
It gives some insight into the magnitude of costs that could ripple out to the rest of the economy — either in the form of price hikes or slimmer margins that could force owners to shrink costs elsewhere, perhaps via layoffs.
OpenAI is one of the world's most valuable private companies, and by far the global leader when it comes to consumer adoption of artificial intelligence.
It also could be on the precipice of its first major commercial challenge.
Driving the news: Apple is considering using models from either OpenAI or Anthropic to underpin its next version of Siri, according to a blockbuster report from Bloomberg's Mark Gurman.
The U.S. has struck a trade deal with Vietnam, President Trump said Wednesday.
Why it matters: The deal is much less severe than what the country originally faced, but still puts a significant tariff on one of the largest exporters to the United States.
Why it matters: The nearly 140-year-old company — known for staples like canned vegetables and fruit cups — has faced mounting pressures from changing consumer habits, supply chain volatility and rising costs.
Private employers shed 33,000 workers in June, the first monthly job loss in at least two years, payroll processing firm ADP said on Wednesday.
Why it matters: It is the most worrying job market indicator to date since President Trump unleashed a series of tariffs that ignited economic uncertainty.
The bond market just saw its best month since February, while the U.S. dollar had its longest monthly slide since 2017.
Why it matters: After a "tariff tantrum" sell-off, bonds are cool to buy again, making it look like the pushback on American policy has moved to the dollar.
President Trump's immigration crackdown is hitting key pockets of the economy, disrupting workplaces and communities around the country.
Why it matters: The sharp fall in immigration this yearthreatens to slow down economic growth, particularly in the sectors and cities that relied on newcomers to the U.S. in recent years.
The Trump administration is icing the U.S. Navy's F/A-XX futuristic fighter in favor of the Air Force counterpart, the F-47, amid concerns U.S. defense contractors can't handle both.
Why it matters: The highly secretive project has for months been in limbo.
An F/A-XX contract announcement was supposed to quickly follow F-47 news, according to Reuters, but never materialized.
OCHOPEE, Fla. —President Trump began Tuesday by stoking his on-again feud with Elon Musk and joking about alligators chasing immigrant detainees.
He later basked in the Senate's passage of his signature tax and spending bill — and enthusiastically lobbed threats toward an array of perceived enemies, from immigrants to the media to Zohran Mamdani, New York City's Democratic nominee for mayor.
Why it matters: Trump and his team seemed to view it as his best day as president — a day when his brash, norm-crushing style was paying off in a series of "wins" in D.C. and Florida, where he visited a new immigration lockup dubbed "Alligator Alcatraz."
Managers are trusting AI to help make high-stakes decisions about firing, promoting, and giving their direct reports a raise, according to a new study from Resume Builder.
Why it matters: AI-based decision-making in HR could open companies up to discrimination and other types of lawsuits, experts tell Axios.
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