General Motors’ ambitious goal of producing 1 million all-electric vehicles in North America by the end of 2025 seems increasingly unlikely, according to recent statements made by CEO Mary Barra. Barra’s comments, made during a virtual CNBC CEO Council event on Monday, suggest that the market demand for electric vehicles has not materialized as quickly
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Department store giant Macy’s recently announced the termination of negotiations with an activist group seeking to take the retailer private for approximately $6.9 billion. The decision was made by Macy’s board unanimously, citing concerns about the financing and the lack of compelling value in the proposal. Lead independent director Paul Varga expressed that the proposal
SpaceX’s Falcon 9 rocket recently experienced an in-flight failure during the “Starlink Group 9-3” mission, causing the rocket’s upper second stage to fail to reignite its engine as planned. This resulted in the destruction of the second stage. SpaceX CEO Elon Musk confirmed the incident and mentioned that the engine failure was a result of
The upcoming Summer Olympics in Paris have brought mixed reactions when it comes to travel demand. While more than 10,000 athletes are thrilled to participate in the event, potential tourists seem to be avoiding the city. According to Delta Air Lines CEO Ed Bastian, the airline is facing a $100 million hit due to travelers
Audi, a Volkswagen-owned company, has announced a significant sports investment by becoming the official premium automotive partner of Inter Miami CF. This partnership marks Audi’s aim to tap into the growing soccer fan base in the United States. Emilie Cotter, the Chief Marketing Officer of Audi of America, highlighted the strategic fit between the two
Pfizer recently announced its plans to advance a once-daily version of its weight loss pill, danuglipron, following positive data from an early-stage study. The company carefully evaluated various once-daily formulations of the drug and identified one that shows the most promising safety profile and effectiveness. This decision marks a significant step forward in Pfizer’s efforts
In a recent exclusive interview with CNBC, Commissioner Roger Goodell revealed the National Football League’s consideration of allowing minority private equity ownership for its 32 teams, up to a maximum of 10%. This proposed change comes as the NFL aims to evolve its policies to align with the changing landscape of sports. Private equity firms
As the Summer Olympics in Paris draw near, sportsbooks and daily fantasy operators are gearing up for a potential surge in activity. With legal gambling now well-established in the U.S., industry experts are anticipating a significant increase in wagering compared to previous Olympic Games, particularly in sports like basketball, soccer, and tennis. This article will
Costco, the popular membership-based warehouse club, recently announced that it will be increasing its membership fees in the U.S. and Canada. This change is set to take effect on September 1st, with the annual membership cost being raised from $60 to $65. In addition, the higher-tier “Executive Membership” will increase from $120 to $130 per
The Federal Trade Commission is gearing up to file lawsuits against three prominent U.S. health companies for their role as intermediaries in negotiating prices for medications such as insulin. According to a source familiar with the matter, the agency believes that these companies are artificially inflating costs for patients, ultimately making healthcare less affordable for