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Lendbuzz, an auto finance fintech company, is planning to file an IPO prospectus as soon as Friday, according to people familiar with the matter.  The Boston-based company is targeting a valuation of around $1.5 billion, according to one of the people, who asked not to be named discussing internal matters. That valuation may change as Lendbuzz and its advisors hold discussions with investors.  The decade-old company uses alternative data and machine learning algorithms to assess …

BEIJING — China’s Ministry of Commerce has warned Mexico of countermeasures as the country plans to hike tariffs on Asia-made cars to 50%. We “hope Mexico will be extremely cautious, and think twice before acting,” the ministry said in a statement late Thursday, translated by CNBC. “China and Mexico are mutually important trade partners,” the ministry said. “We are not willing to see both sides’ economic cooperation affected by this situation.” Mexico’s Secretary of Economy …

A version of this article appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Tesla said it needed to incentivize CEO Elon Musk with a record-breaking pay package in order to compete with his private companies, according to a proxy the company filed last week. The filing outlines a share award that could be worth $1 trillion if it all …

Some of America’s top financial services executives are starting to issue warnings about the economy. Saying they’re seeing signs of “softening” or “weakening,” a slew of CEOs have been weighing in ahead of next week’s Federal Reserve decision and with the U.S. Bureau of Labor Statistics revising job numbers lower this week. In a Wednesday CNBC interview, Goldman Sachs CEO David Solomon said while the economy is “still chugging along,” the signals may be pointing …

With nearly all shoppers facing a sense of sticker price shock, some luxury fashion lines are experimenting with new, less pricey products in a bid to remain relevant and attract new consumers. Louis Vuitton’s long-awaited beauty collection hit branded stores and concessions last month, marking the latest iteration for the 171-year-old LVMH-owned luxury titan. And while the signature scented lipsticks don’t come cheap at $160 a pop, it indicates a wider shift among luxury players …

Klarna shares popped 30% in their New York Stock Exchange debut Wednesday, opening at $52, after the Swedish online lender priced its IPO above its expected range. The company, known for its popular buy now, pay later products, priced shares at $40 on Tuesday, raising $1.37 billion for the company and existing shareholders. The offering valued Klarna at about $15 billion. The IPO marks the latest in a growing list of high-profile tech IPOs this …

Wells Fargo CEO Charlie Scharf said he “absolutely” supports the Federal Reserve’s independence, but that President Donald Trump is free to express his beliefs on how the central bank should set monetary policy. The Fed has to be and currently is independent, Scharf said in an interview on CNBC’s “Squawk Box” Wednesday, where he referenced the fact that the central bank’s leaders serve distinct terms from elected politicians like the president. However, he added, there’s …

Fintech company Pipe is partnering with Uber in a new effort to help small businesses acquire capital with fewer barriers to access, CNBC has learned. Pipe is teaming up with Uber Eats to add its embedded technology to the company’s restaurant manager app. Eligible restaurants will see pre-approved capital offers from Pipe that are customized based on the businesses’ revenue and cash flow. The new partnership will start rolling out widely this week on Uber …

Wells Fargo CEO Charles Scharf said Wednesday that while corporations and higher-income consumers are thriving, lower income Americans are struggling to stay afloat. The bank’s data shows that “companies are in really great shape” and spending and debt repayment rates among all income levels has been steady, but there are signs of stress among lower earners, Scharf said in an interview on CNBC’s Squawk Box. “There is this big dichotomy between higher-income and lower-income consumers …

Affordable Care Act insurance premiums are set to rise sharply next year if Congress doesn’t intervene. That’s because enhanced subsidies that have reduced costs for millions of enrollees in health plans purchased through the ACA marketplace in recent years are set to expire after 2025. (The ACA is also referred to as Obamacare.) The disappearance of these enhanced premium tax credits — a so-called “subsidy cliff” — would cause average premiums to rise by about …