Honda Motor and its joint venture partners have unveiled plans to invest $11 billion in Ontario, Canada, aiming to establish a comprehensive electric vehicle (EV) value chain. This investment encompasses the construction of new assembly and battery plants, along with other supporting facilities to facilitate the production of all-electric and fuel cell-powered vehicles. Honda anticipates… Continue reading Honda to build $11 billion electric vehicle hub in Canada

Foot Locker unveiled its new “store of the future” concept at a New Jersey mall, marking a pivotal effort to rejuvenate its brand and bolster sales amidst a challenging retail landscape. Departing from its traditional mall format, the revamped store offers an immersive experience, featuring a streamlined layout, a dedicated “drop zone” for new sneaker… Continue reading Foot Locker debuts ‘store of the future’ as it looks to win back Wall Street’s confidence

Boeing reported a quarter that surpassed expectations, yet it continued to grapple with cash burn as it navigates challenges in stabilizing production, notably following a door blowout incident on a 737 Max earlier in the year. Despite burning $3.9 billion in the first quarter, which exceeded previous forecasts, CEO Dave Calhoun emphasized the company’s unwavering… Continue reading Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis

Delta Air Lines is ramping up its staff pay by an additional 5% this year in anticipation of the upcoming busy summer travel season. The pay raise, effective from June 1, encompasses various staff members, including flight attendants, ground handlers, mechanics, and select office workers, but excludes pilots who secured significant pay raises through a… Continue reading Delta Air Lines gives staff another 5% raise, hikes starting wages to $19 an hour

Longtime mall retailer Express made a significant move by filing for Chapter 11 bankruptcy protection, yet there’s hope for its revival as a group of investors, spearheaded by brand management firm WHP Global, aims to salvage the company through acquisition. Express announced the closure of 95 of its namesake stores along with all of its… Continue reading Express files for bankruptcy, plans to close nearly 100 stores as investor group looks to save the brand

Procter & Gamble faced a challenging quarter marked by mixed results as it grappled with efforts to regain consumer traction following substantial price hikes across its product portfolio. While prices surged by 3% compared to the previous year, the company asserted that no nationwide price increases occurred during the quarter. Despite disappointing sales figures, P&G… Continue reading Procter & Gamble sales disappoint as price hikes slow down

Trump Media has raised concerns over potential market manipulation of its stock by “naked” short selling, warning the CEO of the Nasdaq Stock Market, Adena Friedman. In a filing with the Securities and Exchange Commission, Trump Media disclosed detailed instructions to shareholders on how to prevent their shares from being loaned out to short sellers,… Continue reading Trump Media alerts Nasdaq to potential market manipulation from ‘naked’ short selling of DJT stock

The recent struggles of Trump Media, particularly its plummeting stock price and interest from short sellers, have prompted the company to offer guidance to its shareholders on preventing their shares from being loaned for short selling. Amid a significant decline in its stock price since its public trading debut, Trump Media’s DJT stock has attracted… Continue reading Trump Media tells shareholders how to block their DJT stock being loaned to short sellers

the article discusses Google’s termination of 28 employees following protests against labor conditions and the company’s contract with the Israeli government and military for cloud computing and artificial intelligence services. The terminations came after nine Google workers were arrested for staging a sit-in at Google offices in New York and Sunnyvale, California. The protests were… Continue reading Google terminates 28 employees after multicity protests: Read the full memo

Amazon’s grandiose venture, the Snowmobile, once a symbol of data transfer prowess, now sits defunct less than a decade after its debut at the company’s 2016 cloud conference. Previously a star attraction at AWS events, the Snowmobile was an 18-wheeler designed to expedite data transfer to Amazon Web Services facilities. However, as of March, AWS… Continue reading Amazon cloud unit kills Snowmobile data transfer truck eight years after driving 18-wheeler onstage

United Airlines saw a significant surge in its shares, rising over 10% on Wednesday morning, following the company’s optimistic forecast for second-quarter earnings, surpassing Wall Street expectations despite ongoing Boeing delivery delays. Anticipating earnings between $3.75 and $4.25 per share for the second quarter, United’s projection exceeded analysts’ estimates of approximately $3.76 per share, highlighting… Continue reading United Airlines jumps more than 10% on strong earnings forecast, trims 2024 fleet plan on Boeing delays

European Central Bank (ECB) President Christine Lagarde reiterated the bank’s intention to potentially reduce interest rates in the near future, contingent upon significant developments. Lagarde emphasized the ECB’s vigilance regarding oil prices, particularly amidst concerns of escalating conflict in the Middle East. Despite recent tensions, she noted a relatively moderate response in oil prices following… Continue reading Lagarde says ECB will cut rates soon, barring any major surprises; notes ‘extremely attentive’ to oil