Ford Motor Company has recently announced a significant shift in its production plans, opting to expand the manufacturing of its large Super Duty trucks at a Canadian plant that was initially slated for conversion into an all-electric vehicle hub. This new direction will involve an investment of approximately $3 billion, with $2.3 billion allocated to
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General Motors has unveiled its plans to ramp up production of the Cadillac Escalade V-Series for the upcoming 2025 model year. This flagship SUV is receiving a slew of updates and enhancements that are set to redefine the standard of full-size SUV luxury. With its combination of American craftsmanship, cutting-edge technology, and impressive performance, the
Morgan Stanley recently reported their second-quarter results, which surpassed analysts’ estimates in both profit and revenue. The bank reported earnings of $1.82 per share, exceeding the estimated $1.65 per share. Additionally, their revenue stood at $15.02 billion, beating the $14.3 billion estimate. This positive outcome was primarily driven by stronger-than-expected trading and investment banking results.
Macy’s announced on Monday that its board had unanimously decided to terminate negotiations with an activist group interested in acquiring the retailer for approximately $6.9 billion. The board stated that the activist group’s proposal lacked certainty of financing and did not offer compelling value, making it impossible to proceed with the deal. Arkhouse and Brigade
SpaceX’s Falcon 9 rocket experienced an inflight failure during the “Starlink Group 9-3” mission, causing the upper second stage engine to fail to reignite as planned. This rare misfire led to the destruction of 20 satellites bound for low Earth orbit. Elon Musk confirmed the failure, attributing it to an engine rapid unscheduled disassembly (RUD)
The financial world has been thrown into chaos as thousands of Americans find themselves unable to access their savings, locked in frozen fintech accounts due to the collapse of intermediary Synapse. This has led to a desperate situation for customers of popular fintech apps like Yotta, Juno, and Copper, who have been stranded without access
Paris, the dream destination for over 10,000 Olympic athletes this summer, is turning out to be a nightmare for the tourism industry. Delta Air Lines, one of the major carriers operating flights to Paris, reported a significant drop in traveler numbers to the city. CEO Ed Bastian revealed that this shift in travel patterns is
The National Football League is pondering the idea of permitting minority private equity ownership for its 32 teams, potentially up to 10% stake. Commissioner Roger Goodell mentioned in a recent CNBC interview that they are looking to adjust their policies to keep up with the evolving sports landscape. Goodell highlighted the substantial interest shown by
The Federal Trade Commission is making moves to take legal action against three major U.S. healthcare companies for their practices as middlemen who negotiate prices for essential medications like insulin. According to a source familiar with the matter, the agency contends that these practices are artificially inflating costs for patients. The Targeted Companies The three
In recent news, Athletic Brewing Company has secured an impressive $50 million in equity financing led by General Atlantic. This funding is expected to propel the company into new realms of growth and innovation within the nonalcoholic beer market. With plans to expand production capacity and enhance offerings for global retailers, Athletic Brewing Company is