Tag: Breaking News: Business

2024-10-23

General Motors (GM) earnings Q3 2024

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Business

DETROIT — Shares of General Motors saw their largest daily increase since March 2020 on Tuesday after the company topped Wall Street’s third-quarter earnings expectations, increased 2024 guidance and reconfirmed plans for shareholder returns and resilient earnings next year. Shares of the Detroit automaker closed Tuesday at $53.73, up 9.8% — marking the highest daily percentage increase for the…

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2024-10-22

McDonald’s says it’s not political after Trump visit

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Business

Republican presidential nominee and former U.S. President Donald Trump works behind the counter during a visit to McDonalds in Feasterville-Trevose, Pennsylvania, U.S. October 20, 2024.  Doug Mills | Via Reuters Though President Donald Trump visited a Pennsylvania McDonald’s location on Sunday, the fast-food giant is trying to stay neutral in the presidential race. “As we’ve seen, our brand has…

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2024-10-22

Boeing machinists to vote on new proposal that could end strike

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Business

People hold sings during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024. Jason Redmond | AFP | Getty Images Boeing and its machinists’ union have reached a new contract proposal, the union said Saturday, outlining a deal that could end a more than monthlong…

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2024-10-21

elections, hurricanes to affect retail spending

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Business

People look at the holiday window displays at a Macy’s store in Herald Square on December 11, 2023 in New York City. Michael M. Santiago | Getty Images Inflation may have cooled, but retailers are still staring down a holiday season with plenty of uncertainty. Several hard-to-predict factors will influence consumers’ spending, as they deck the halls and look…

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2024-10-21

Stellantis to shutter and sell proving grounds amid cost-cutting

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Business

Carlos Tavares, chief executive officer of Stellantis NV, speaks to the media at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024.  Nathan Laine | Bloomberg | Getty Images DETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned. The…

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2024-10-20

Spirit AeroSystems to furlough 700 workers as Boeing strike continues

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Business

Airplane fuselages bound for Boeing’s 737 Max production facility await shipment on rail sidings at their top supplier, Spirit AeroSystems Holdings Inc., in Wichita, Kansas, on Dec. 17, 2019. Nick Oxford | Reuters Boeing supplier Spirit AeroSystems will furlough some 700 workers as a strike by machinists at the plane maker enters its sixth week, a spokesman for the…

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2024-10-20

Procter & Gamble (PG) Q1 2025 earnings

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Business

Procter & Gamble on Friday reported weaker-than-expected revenue as lower demand in China again weighed on its sales. The company’s organic sales in Greater China, its second-largest market, fell 15% in the fiscal first quarter. As home prices drop and jobless rates rise in the country, shoppers have pulled back their spending, hurting P&G’s sales for shampoo, diapers and…

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2024-10-19

CVS replaces CEO Karen Lynch with exec David Joyner

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Business

Longtime CVS Health executive David Joyner has succeeded Karen Lynch as CEO, as the company struggles to drive higher profits and stock performance, CVS announced Friday. The move, effective Thursday, the day before the announcement, comes as CVS shares have fallen nearly 20% this year. The stock closed around 5% lower on Friday. CVS has faced challenges as higher…

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2024-10-17

United Airlines (UAL) 3Q 2024 earnings

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Business

A United Airlines Boeing 737-MAX 8 aircraft departs at San Diego International Airport en route to New York on Aug. 24, 2024. Kevin Carter | Getty Images United Airlines said Tuesday that it is starting a $1.5 billion share buyback as the carrier reported higher-than-expected earnings for the busy summer travel season and forecast higher airfares into 2025. United…

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