Tesla's board reportedly began seeking a potential successor for Elon Musk a month ago, amid falling sales, shrinking profits, and Musk's focus on political endeavors. The board expressed concerns to Musk about his divided attention, prompting him to promise more time to Tesla. However, Tesla chair Robyn Denholm denied...
GM CEO Mary Barra reported a 2% revenue increase and strong EV sales, solidifying their position as the second-largest US EV seller behind Tesla. However, Trump's fluctuating tariffs are projected to cost GM $4-$5 billion. While initially causing panic buying and sales spikes, recent tariff adjustments offer some...
McDonald's first-quarter same-store sales unexpectedly fell 1% globally, missing Wall Street's forecast of a nearly 2% increase. The U.S. saw the steepest decline at 3.6%, its worst performance since 2020, attributed to flagging consumer confidence amid economic uncertainty. To counter this, McDonald's expanded its value menu and extended...
A federal judge ruled that Apple deliberately circumvented a 2021 order to allow developers to use external links for purchases outside the App Store. The judge found Apple intentionally chose the most anti-competitive option, including using "scary" language in warnings to deter users from using external links, despite considering...
Eric Trump's recent Gulf trip involved securing new Trump Organization deals in Qatar and Dubai, including a branded golf club and luxury villas, and a new hotel. These deals raise concerns about potential conflicts of interest given the US's close relationships with these nations and the president's upcoming visit....
General Motors (GM) projects $4-$5 billion in losses this year due to the Trump administration's tariffs on imported cars and auto parts. Despite this, CEO Mary Barra stated that GM doesn't plan to raise car prices to offset the costs, impacting its profit guidance. The company slashed its...
McDonald's reported its worst US sales drop in five years, a 3.6 percent decline in same-store sales during the March quarter. This is attributed to lower customer counts amid economic uncertainty fueled by Trump-era tariffs impacting consumer sentiment. Analysts had predicted a smaller decline, but the results follow similar weaker...
GM lowered its 2025 financial guidance, projecting net income of $8.2 billion to $10.1 billion, down from previous estimates. This revised forecast incorporates the impact of recent trade policy changes, including tariff adjustments. Despite the lower projection, CEO Mary Barra emphasized GM's strong fundamental business and commitment to...
McDonald's reported mixed first-quarter results, with U.S. same-store sales falling 3.6%, the worst decline since the pandemic's onset. This exceeded analyst predictions of a 1.7% drop, attributed to bad weather and cautious consumer spending. Overall same-store sales dipped 1%, despite strong international developmental licensed markets growth (3.5%). Earnings...
Ford showcased its Ohio manufacturing operations, highlighting the Sharonville transmission plant producing parts for vehicles like the Lincoln Navigator and Ford Expedition. The company welcomed President Trump's measures to mitigate tariff impacts on automakers, acknowledging potential negative effects from higher tariffs on its international supply chain. Ford employs...
