BUSINESS - Page 27

Warner Bros Discovery has joined the growing list of companies that have suspended advertising on the Elon Musk-owned social media platform formerly known as Twitter, or X. The company is putting its ad spending on hold for the time being, a spokesperson told Deadline. The move comes after a report that found X was letting ads from IBM, Apple, Oracle, and NBCUniversal (parent of CNN) appear next to pro-Nazi content on the platform. Several other advertisers have also paused their

China Investment Corp (CIC) has hired a new North American head for its New York office, filling a months-long vacancy and showing the sovereign wealth fund wants to maintain the outpost despite flaring U.S.-Sino tensions. The move comes as CIC, which oversees trillions of dollars, continues to look for ways to boost its returns by investing in assets overseas that offer the potential for a higher yield than in the domestic Chinese market. Bai Jian was hired as director of

Analysts say the collapse of trucking giant Yellow will saddle American taxpayers with financial losses and threaten the nation’s freight transportation system. The bankruptcy filing by Yellow Corp on Sunday, after years of declining profits, is a blow to the industry and shippers nationwide. The company has racked up hefty bills, including paying wages and benefits to employees and taxes. It also owes money to vendors essential to its businesses, such as gas providers and shipping services. A month after

On Thursday, the country’s largest lender, Commonwealth Bank of Australia (CBA.AX), joined the other three big banks in raising its standard variable home loan rate by 25 basis points after the central bank hiked its interest rate earlier this week. The National Australia Bank (NAB), ANZ Group Holdings (ANZ.AX), and Westpac Banking Corp (WBC.AX), the other three of Australia’s “big four,” had already hiked their home loan rates on Wednesday by 0.25%. On Tuesday, the Reserve Bank of Australia (RBA)

Electric vehicles (EVs) are a vital component in the industry’s drive to reduce carbon emissions and tackle climate change. The shift to EVs is occurring faster than expected, and significant incumbent carmakers have stepped up their ambitions, including moving toward fully electric fleets and leveraging production sites as hubs for affordable models to accelerate mass adoption. This has brought new entrants with lower costs and various options for consumers, but affordability challenges many. As the shift to EVs continues, Tesla

Tyson Foods (TSN.N) has said it voluntarily recalled approximately 30,000 pounds of its frozen, fully cooked dinosaur-shaped chicken. Fun Nuggets? or Dino Chicken Nuggets because they may contain pieces of metal. A limited number of consumers have reported that they found small, pliable metal pieces in the product, and out of an abundance of caution, the company said in a release on Saturday that it was recalling this product. The affected products were produced on Sept. 5 and shipped to

Cruise, the robot-taxi company controlled by General Motors (GM.N), has hired an outside law firm and technology consultants in the aftermath of an accident that led it to suspend all driverless vehicle operations, Cruise said Friday. The board of GM’s Cruise unit has hired law firm Quinn Emanuel to review Cruise management’s responses to regulators investigating the October 2 accident and technology consultancy Exponent to review Cruise’s technology. The move comes amid heightened scrutiny of automated vehicles after the death

In a world where many carmakers are cutting prices, BMW says it has no interest in joining the price war. The German group, whose brands include Mini and Rolls-Royce, also said its order book was filled into the first few months of next year. This gives the company plenty of breathing room as it focuses on boosting sales of electric vehicles. As part of its revamped plant in Spartanburg, South Carolina, BMW is experimenting with customizing cars like Dell builds