Jake Callahan

Dec 10, 2024 | cnbc.com | Jake Callahan |Carl Quintanilla

CNBC takes viewers on a deep dive into Salt Lake City's booming banking sector. The city's exceptional growth in finance can be traced back to an early catalyst: industrial banking. This little-known type of banking institution allows non-financial companies, such as car manufacturer BMW, to own its own bank. Utah is home to most of America's industrial banks, with 15 of the nation's 23 located in Salt Lake County—a concentration unmatched anywhere else in the country.

Apr 11, 2024 | cnbc.com | Dardan Pula |Jake Callahan

This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees. Most U.S. cities want a piece of the Silicon Valley action, and some have been getting more of it in recent years as California cities have experienced, to varying degrees, a business and worker population exodus exacerbated by Covid.

Nov 29, 2023 | cnbc.com | Chris DiLella |Jake Callahan |Christopher DiLella

Nashville is seeing an unprecedented surge in luxury hotels, with renowned brands such as the Four Seasons Hotel, the W Hotel and the Grand Hyatt opening their doors in Music City. More than 90 new hotels have been constructed in Nashville since 2013, contributing more than 14,000 rooms to the city's accommodation offerings, according to the Nashville Chamber of Commerce. In the past year alone, hotel expansion has generated more than $2 billion in revenue.

Jul 21, 2023 | cnbc.com | Jake Callahan |Andrea Day

Artificial intelligence is making a big effect on the auto industry. Revenue from sales of autonomous vehicles is anticipated to top $70 billion by 2033, according to Future Market Insights. But self-driving cars powered by AI are not the only change — AI technology is already being infused into vehicle production. related investing newsAs part of that industry-wide trend, the BMW Group is now shifting gears to rely more heavily on AI to create a leaner and more efficient manufacturing process.

Jul 20, 2023 | msn.com | Scott Cohn |Scott Zamost |Jake Callahan

"Something very strange has happened" in the economy that is preventing a recession, Societe Generale said. The bank highlighted that as the Fed raised interest rates over the past year, corporate net interest payments actually fell. Here's how US businesses successfully navigated an extreme cycle of monetary tightening without sparking a recession. Since the Federal Reserve began aggressively hiking interest rates last year, more and more economists warned that a US recession was imminent.