Shares of Tesla were flat in premarket trading Thursday after the EV maker denied a Wall Street Journal report that its board was searching for a replacement for chief executive Elon Musk. The report, citing comments from sources familiar with the discussions, said that Tesla’s board members reached out to several executive search firms to work on a formal process for finding the ...
McDonald’s reported its worst quarterly sales for the United States since the height of the pandemic in 2020, the latest restaurant chain to be affected by America’s turbulent economic environment. The burger giant reported U.S. same-store sales fell 3.6%, the largest three-month drop since Q2 2020, when they plunged 8.7%. Forecasts had been for a decline of just 1.7%. ‘Consumers ...
Tech is saving Hollywood — though not in the way you might think. Back in 2022, e-commerce giant and relative upstart movie studio Amazon promised to spend around $1 billion each year on theatrical releases, a figure that would fund between 12 and 15 films annually. Today, it appears ready to deliver. Earlier this month, the company, which operates the streaming platform Prime ...
Nvidia CEO Jensen Huang said on Wednesday that China is “not behind” in artificial intelligence, and that Huawei is “one of the most formidable technology companies in the world.” Speaking to reporters at a tech conference in Washington, D.C., Huang said China may be “right behind” the U.S. for now, but it’s a narrow gap. “We are very close,” he said. ...
JetBlue Airways is getting ready to announce a partnership with another U.S. airline with a larger network in the coming weeks, the carrier’s president said Tuesday. One possibility: United Airlines. JetBlue’s leaders have repeatedly said they need a partnership to better compete against larger airlines like Delta Air Lines and United. JetBlue’s planned acquisition of Spirit Airlines was blocked by the Justice Department last year, while ...
International Business Machines Corporation on Monday announced it will invest $150 billion in the U.S. over the next five years, including more than $30 billion to advance American manufacturing of its mainframe and quantum computers. “We have been focused on American jobs and manufacturing since our founding 114 years ago, and with this investment and manufacturing commitment we are ensuring that IBM remains ...
Pfizer CEO Albert Bourla on Tuesday said uncertainty around President Donald Trump’s planned pharmaceutical tariffs is deterring the company from further investing in U.S. manufacturing and research and development. Bourla’s remarks on the company’s first-quarter earnings call came in response to a question about what Pfizer wants to see from tariff negotiations that would push the company to increase investments in the U.S. It comes ...
On air, ’60 Minutes’ reporter says ‘none of us is happy’ about changes that led top producer to quit
“60 Minutes” correspondent Scott Pelley paid tribute Sunday to Bill Owens, the show’s executive producer who resigned last week, saying on the air that “none of us is happy” about the extra supervision that corporate leaders are imposing. Pelley made his comments at the end of the evening’s CBS News telecast, saying that in quitting, Owens proved he was the right ...
If President Donald Trump’s 145% levy against imports from China holds, Hasbro estimates it could see as much as a $300 million hit to its bottom line. The toy maker posted better-than-expected earnings on Thursday, but investors and analysts were more focused on the ongoing trade war Trump’s White House has waged against the toy industry’s biggest manufacturer. Hasbro maintained the full-year ...
U.S. spirit exports reached a record $2.4 billion in 2024, driven in large part by tariff concerns and ongoing global trade disputes. That is according to the American Spirits Exports report published by trade association the Distilled Spirits Council of the United States on Thursday. “U.S. spirits exports hit a new high in 2024, recapturing lost market share since the UK and ...