When it comes to traditional Detroit automakers, General Motors (GM) is expected to take the lead in the second quarter of the year. Despite challenges faced by the industry, GM is projected to report a solid $2.75 per share profit, representing a 44.2% increase from the previous year. With revenue expected to reach $45.46 billion,
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Michelle Mack, the mastermind behind a nationwide organized retail crime operation that targeted beauty stores like Ulta and Sephora, has finally been handed a delayed sentence of five years and four months. Based in Bonsall, California, Mack oversaw a network of thieves who stole millions in merchandise from major retailers. The operation was run from
Penn Entertainment, a major player in the gaming and media industry, has recently announced that it will be laying off approximately 100 employees as part of its efforts to focus on the growth of ESPN Bet. The decision comes following the company’s acquisition of Canadian media and gaming powerhouse theScore in 2021. CEO Jay Snowden
Ford Motor Company recently announced a significant shift in its production plans, opting to expand the production of its large Super Duty trucks to a Canadian plant instead of converting it into an all-electric vehicle hub. This decision comes as part of a $3 billion investment to enhance Super Duty production, with $2.3 billion allocated
Cadillac has announced updates to its flagship Escalade for the 2025 model year, specifically focusing on the V-Series performance model. These enhancements aim to elevate the luxury, technology, and performance aspects of the SUV, catering to the discerning tastes of Cadillac’s target market. One of the key highlights of the 2025 Escalade V-Series is the
New Balance recently announced a multiyear deal with the WNBA, marking a significant step in tapping into the women’s sports market. The agreement will see New Balance become an official partner of the WNBA, joining other major athletic brands such as Adidas, Nike, Puma, and Under Armour. The deal includes various elements such as broadcast,
Morgan Stanley has reported a strong second-quarter performance, with both profit and revenue surpassing analysts’ estimates. The bank announced earnings of $1.82 per share, compared to the $1.65 per share estimated by LSEG. Additionally, revenue reached $15.02 billion, exceeding the $14.3 billion estimate. This positive outcome can be attributed to the robust trading and investment
General Motors’ ambitious target of producing 1 million all-electric vehicles in North America by the end of 2025 seems to be in jeopardy, according to CEO Mary Barra’s recent comments. The automaker has been facing challenges as demand for electric vehicles (EVs) has not grown as quickly as anticipated by GM and other companies in
Macy’s board of directors recently announced the end of negotiations with an activist group seeking to take the retailer private for $6.9 billion. The decision was made due to concerns over the lack of certainty in financing and insufficient value delivery in the proposed deal. Macy’s lead independent director, Paul Varga, stated that the proposal
SpaceX’s Falcon 9 rocket is currently grounded following an incident during its recent mission, known as “Starlink Group 9-3.” The launch took place from California’s Vandenberg Space Force Base and was intended to carry 20 satellites into low Earth orbit. Unfortunately, the upper second stage of the rocket failed to restart its engine as planned