In a surprising turn of events, Ford Motor has announced a significant reduction in the planned production of its highly anticipated all-electric F-150 Lightning pickup. This decision comes as a major reversal for the automaker, who had recently increased the plant capacity for the electric vehicle. The move underscores the cautious approach Ford is now
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McDonald’s, the global fast-food giant, recently held its investor day where executives highlighted the company’s strength and long-term goals. While the event showcased some new targets, McDonald’s faces potential road bumps as it looks ahead to 2024. Despite setting ambitious plans for expansion, the company is confronted with an uncertain global economy and specific risks
Starbucks has announced its intention to resume contract negotiations with the union that represents its baristas. It has been two years since the first unionization of company-owned Starbucks cafes in the United States, a milestone that has seen over 360 locations vote to unionize. This accounts for approximately 4% of the company’s total US company-owned
Dollar General, the discount retailer, has been facing a series of challenges in recent times. It has been hit with steep fines for safety violations, criticized on late-night TV shows, and even faced opposition from its own shareholders. In an effort to address these issues, CEO Todd Vasos recently presented the company’s plans during an
Wall Street CEOs recently voiced their opposition to proposed regulations aimed at increasing capital requirements for banks. During an annual Senate oversight hearing, the CEOs of eight major banks expressed their concerns about the potential impact of these changes. The CEOs argued that the new rules, known as the Basel 3 endgame, could have detrimental
In an unexpected turn of events, Wells Fargo CEO Charlie Scharf announced during a Goldman Sachs conference in New York that the company is anticipating a significant severance expense in the fourth quarter. This expense, estimated to be between $750 million and a little less than a billion dollars, is a result of the low
Alaska Air Group, the parent company of Alaska Airlines, recently announced its agreement to acquire rival airline Hawaiian Airlines in a significant deal worth $1.9 billion. This acquisition marks another potential regulatory battle in the airline industry, as it follows the trend of consolidation that has been occurring in the market. The deal presents both
The pursuit of an effective and safe treatment for obesity has been an ongoing challenge for the pharmaceutical industry. Pfizer’s recent decision to halt the development of its twice-daily weight loss pill, danuglipron, due to adverse side effects in obese patients is just another addition to the long list of scrapped drugs in this field.
In a surprising turn of events, Amazon has announced that it has bought three rocket launches from SpaceX for its Project Kuiper internet satellites. This move is unexpected, considering that Amazon’s Kuiper system aims to rival Elon Musk’s Starlink in the satellite broadband market. Both Starlink and Kuiper represent multi-billion dollar initiatives to create extensive
Ford Motor recently announced the reinstatement of its 2023 guidance, which had been withdrawn last month due to labor strikes and negotiations with the United Auto Workers (UAW) union. The company’s forecast now predicts adjusted earnings before interest and taxes (EBIT) between $10 billion and $10.5 billion, as well as adjusted free cash flow ranging