GM Cuts IT Jobs As AI Reshapes Workforce
Layoffs Hit Technology Teams General Motors laid off about 500 to 600 employees on Monday, largely affecting information technology roles in Austin, Texas, and Warren, Michigan. The cuts come as the Detroit
Disney Rises As New CEO Outlines Strategy
D’Amaro Sets A Clear Direction Walt Disney shares rose nearly 8% in early trading after new chief executive Josh D’Amaro outlined his strategy for the entertainment group. Speaking on his first earnings
Spirit Shutdown Empties LaGuardia Terminal
A Sudden Collapse Hits Terminal A The abrupt shutdown of Spirit Airlines has left LaGuardia Airport’s Marine Air Terminal nearly deserted, turning one of New York’s most historic aviation spaces into a
Akio Toyoda Leads $33 Billion Buyout of Toyota Industries
In a strategic move to strengthen the Toyoda family’s control over Japan’s biggest business empire, Akio Toyoda, chairman of Toyota Motor Corp., is leading a group that has agreed to privatize Toyota
Meta and Constellation Energy Secure Long-Term Nuclear Deal
Meta Platforms has announced its first deal with a nuclear power plant, agreeing to partner with Constellation Energy to keep its Illinois-based Clinton Clean Energy Center operating for another 20 years. The
New U.S. Export Restrictions Target China, Raising Concerns
The United States has imposed new export restrictions on companies, preventing them from shipping certain products to China without a license. This move, which includes products like electronic design automation (EDA) software,
Best Buy Slashes Guidance as Tariffs Weigh on Earnings
Best Buy (BBY) investors woke up to disappointing news on Thursday as the retailer reported mixed earnings and lowered its forecast for 2025, citing the ongoing impact of tariffs. Shares plunged nearly
Citi Increases Dell Target to $128, Keeps Buy Rating
Citi analyst Asiya Merchant recently increased the price target for Dell Technologies Inc. (NYSE: DELL) to $128 from $105, while maintaining a Buy rating on the stock. This adjustment is part of
Gap Faces $300 Million Hit from Trump’s Tariffs
Gap announced Thursday that the tariffs imposed by President Donald Trump on China and other countries will cost the retailer between $250 million and $300 million this year. The company, which owns
Costco Exceeds Expectations Despite Tariff Concerns
Costco reported impressive fiscal third-quarter results on Thursday, surpassing Wall Street’s expectations with an 8% rise in sales. The warehouse club retailer posted earnings per share of $4.28, beating the expected $4.24,
Abercrombie Shares Surge Despite Profit Outlook Cut
Shares of Abercrombie & Fitch soared on Wednesday, even as the retailer slashed its profit outlook due to the impact of tariffs, which are expected to cost the company $50 million. Despite
Stellantis CEO Antonio Filosa Faces Pressure to Revive U.S. Sales
U.S. dealers of Jeep SUVs and Ram pickup trucks are looking to new Stellantis CEO Antonio Filosa to reverse months of disappointing sales and restore trust in the brand. Filosa, a 51-year-old
Tesla’s European Sales Drop Amid Competition and Issue
Tesla’s sales in Europe plunged significantly in April, with the U.S. electric vehicle maker facing a 49% year-on-year decline despite an overall surge in battery electric car sales. Tesla sold just 7,261