In recent years, General Motors (GM) has ventured into various trendy industries, seeking to diversify its portfolio beyond traditional automobile manufacturing. One of the most notable ventures is Cruise, a majority-owned subsidiary specializing in autonomous vehicles (AVs). Initially perceived as a promising…
In the competitive skies of American aviation, Delta Air Lines is making a significant move by expanding its presence at Austin-Bergstrom International Airport. This expansion reflects the airline’s strategic bid to capture a larger share of one of the nation’s fastest-growing airports.…
In a significant development shaking the toy industry, Hasbro, a renowned toy manufacturer, grapples with a challenging phase marked by a substantial workforce reduction. According to a recent company memo obtained by CNBC, Hasbro is set to lay off approximately 1,100 employees…
Airbnb, the popular online vacation rental platform, has reached an agreement with Italian authorities to settle a long-standing tax dispute. The company has agreed to pay a substantial sum of €576 million, equivalent to $621 million, to resolve the matter. Italian prosecutors…
In a striking turn of events, Ford Motor has announced a significant reduction in the planned production of its all-electric F-150 Lightning pickup for 2024. This decision marks a notable shift in the company’s strategy, just after a year of substantial increase…
Recent investigations into the mortgage banking industry have revealed concerning patterns of discrimination in loan pricing, with Wells Fargo emerging as a notable example. This probe, conducted by regulators, centers on using loan discounts known as pricing exceptions. These exceptions, intended to…
The retail industry, constantly grappling with the issue of inventory losses, recently faced a significant setback in its efforts to understand and combat shrinkage. The National Retail Federation (NRF), a prominent retail lobbying group, was compelled to retract an essential claim regarding…
Disney is pioneering a new wave in the streaming world by integrating Hulu into its Disney+ platform. This strategic move, set to launch in March 2024, signifies Disney’s commitment to consolidating its streaming services. This integration follows Disney’s recent acquisition of Comcast’s…
As the holiday season approaches, Walmart, a beacon for holiday shoppers, is in the spotlight with insights from its CEO, Doug McMillon. In a candid interview with CNBC’s Sara Eisen, McMillon delves into Walmart’s current performance and prospects amidst a changing economic…
In a recent Goldman Sachs conference in New York, Wells Fargo CEO Charlie Scharf delivered a stark outlook for the bank’s future workforce management. With a looming wave of layoffs and a hefty severance bill on the horizon, Wells Fargo is facing…