Wall Street Breakfast GM data deal hits a dead end
Jan 17, 2025
General Motors faces a ban from the FTC for selling driver data to third parties. Meanwhile, the U.S. Department of Energy backs Plug Power with a hefty loan guarantee of $1.66 billion. In a surprising move, Walmart adds high-end brands like Chanel, Gucci, and Prada to its Marketplace, aiming to elevate its luxury offering. Investors are also updated on key stock movers and the latest economic indicators.
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GM Data Sharing Ban
- The FTC is banning General Motors from sharing driver data with third parties without consent.
- This follows allegations that GM sold data like geolocation and driving behaviors to consumer reporting agencies.
Plug Power Funding
- Plug Power secured a $1.66 billion loan from the Department of Energy.
- This funding will support the construction of up to six green hydrogen production facilities.
Walmart Luxury Partnership
- Walmart is partnering with Rebag to offer pre-owned luxury goods on its marketplace.
- The partnership will feature brands like Louis Vuitton, Chanel, and Gucci.