In a surprising move, Ford Motor has announced plans to cut production of its highly anticipated all-electric F-150 Lightning pickup truck by nearly half in 2023. This decision comes as a major reversal for the automaker, which had previously increased plant capacity for the electric vehicle. Instead of the initially planned average volume of around
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McDonald’s, the global fast-food giant, recently held its investor day where executives highlighted the company’s strength and outlined its long-term goals. However, despite the positive portrayal, McDonald’s faces several potential roadblocks as it looks ahead to 2024. While the event did include some new targets, the reaction from Wall Street has been relatively subdued, with
Starbucks recently announced its intentions to resume contract negotiations with the union representing its baristas, commencing in January. This development follows the two-year anniversary of the first unionization of company-owned Starbucks cafes in the United States. Although more than 360 locations have voted to unionize, accounting for approximately 4% of the company’s total U.S. footprint,
Dollar General, once a thriving retail giant, has been facing a tumultuous period with safety violations, public relations challenges, and a decline in sales. However, during an earnings call, CEO Todd Vasos reassured investors of the company’s commitment to turning these issues around. In this article, we will delve into Dollar General’s plans for improving
The CEOs of Wall Street’s leading banks recently expressed their concerns over proposed regulations aimed at increasing capital requirements. During a Senate oversight hearing, the CEOs warned about the potential negative consequences of these changes, claiming it would have detrimental effects on the economy, markets, businesses of all sizes, and American households. The implementation of
Wells Fargo, one of the largest banks in the United States, is now facing an unexpected financial burden. CEO Charlie Scharf revealed during a recent Goldman Sachs conference that the bank is likely to incur a severance expense of up to $1 billion in the fourth quarter. This expense, previously unanticipated, is a result of
Alaska Air Group has recently announced the acquisition of Hawaiian Airlines in a deal worth $1.9 billion. This move sets the stage for another potential regulatory battle in the airline industry, marking the second proposed merger in less than two years. The deal includes Alaska paying $18 per share for Hawaiian and taking on $900
The journey to developing safe and effective treatments for obesity has been fraught with challenges and setbacks. Pharmaceutical giant Pfizer recently announced the discontinuation of its twice-daily weight loss pill, danuglipron, due to high rates of adverse side effects experienced by obese patients in a midstage clinical trial. This decision comes just six months after
Amazon has surprised many by purchasing three rocket launches from SpaceX for its Project Kuiper internet satellites. This move is unexpected, as Amazon’s Kuiper system aims to compete with Elon Musk’s Starlink in the satellite broadband market. Both companies are investing billions of dollars to create satellite networks that will serve a wide range of
After a tumultuous period marred by labor strikes and negotiations with the United Auto Workers (UAW) union, Ford Motor has reinstated its 2023 guidance. This new guidance sets expectations for adjusted earnings before interest and taxes (EBIT) between $10 billion and $10.5 billion and adjusted free cash flow ranging from $5 billion to $5.5 billion.