DETROIT — General Motors says a pending breakthrough in battery chemistry will cut the price of its electric vehicles so they equal those powered by gasoline within five years. The technology also will increase the range per charge to as high as 450 miles. The company's product development chief promised a small electric SUV that will cost under $30,000 and pledged to roll out 30 battery-powered models worldwide by 2025. Nearly all current electric vehicles cost more than $30,000. The announcement illustrates how fast electric vehicle technology is moving and shows that it may become the primary fuel for transportation faster than expected.
NEW YORK — BuzzFeed is buying HuffPost from Verizon as part of a bigger deal that has the wireless giant investing in the digital-media company. BuzzFeed and Verizon did not disclose terms of the deal. Verizon will be a minority shareholder in BuzzFeed and the two companies will partner on content and ads. BuzzFeed is known for its quizzes and lists but also invested in its news division. Its founder and CEO, Jonah Peretti, also co-founded HuffPost, then known as The Huffington Post, in 2005. AOL bought it for $315 million in 2011.
IOWA CITY, Iowa — Tyson Foods has suspended top officials at its largest pork plant and launched an investigation into allegations that they bet on how many workers would get infected during a widespread coronavirus outbreak. Tyson Foods President and CEO Dean Banks said Thursday that he was "extremely upset" about the allegations against managers at its plant in Waterloo, Iowa, saying they do not represent the company's values.
WASHINGTON — U.S. long-term mortgage rates fell this week, reaching record lows for the 13th time this year amid fresh signs of weakness in the pandemic-ravaged economy. Mortgage buyer Freddie Mac reported that the average rate on the 30-year benchmark loan declined to 2.72% from 2.84% last week. The average rate on the 15-year fixed-rate mortgage eased to 2.28% from 2.34%. Fresh signs emerged this week that the resurgent coronavirus outbreak is likely slowing the economy and forcing more companies to cut jobs. The government reported that retail sales in the U.S. grew a sluggish 0.3% in October, even as retailers offered early holiday discounts online and in stores.