BUSINESS - Page 3

McDonald’s Faces Steepest U.S. Sales Slump Since Pandemic Era

McDonald’s last saw a decline in sales nearly five years ago during the COVID-19 pandemic, and its latest earnings suggest many customers still haven’t fully returned. On Monday, the fast-food giant reported a larger-than-expected drop in fourth-quarter U.S. comparable sales, impacted by cautious consumer spending and a brief E. coli outbreak. Sales in its largest market, the U.S., fell 1.4%—the steepest decline since the pandemic forced restaurants to limit operations to drive-thru and delivery. Analysts had predicted a smaller 0.4%

Exxon Tops Q4 Expectations as Oil and Gas Output Climbs

On Friday, U.S. oil giant Exxon Mobil surpassed Wall Street’s expectations for fourth-quarter profits, driven by increased oil and gas production despite lower prices and weaker refining margins. The company reported earnings of $7.39 billion, or $1.67 per share, exceeding analyst projections of $1.56 per share, according to LSEG data. Exxon’s record-breaking output in the booming Permian Basin, supported by low production costs, contributed to its strong performance. Additionally, its highly profitable projects in Guyana helped sustain robust natural gas

Tesla Backs Legal Fight Against EU Tariffs on Chinese EVs

A U.S.-based company and Chinese manufacturers are locked in a legal dispute that could significantly impact the EV market. Their collaborative efforts reflect a shared opposition to the EU’s trade measures, which stem from the Commission’s findings that Chinese EV manufacturers benefit from substantial government subsidies, enabling them to compete unfairly in the European market. If these challenges succeed, they could reduce profits and competitiveness in the European EV sector, potentially hindering progress toward ambitious climate targets. Industry insiders told

Puma Shares Drop Over 18% Following Disappointing Q4 Results

Puma shares plunged more than 18% on Thursday after the German sportswear company reported weaker-than-expected fourth-quarter sales and a decline in annual profit. The results, released late Wednesday, have raised concerns about Puma’s ability to compete with larger rivals Adidas and Nike. The weak performance contrasts sharply with Adidas’ recent report of strong sales and profitability, underscoring the challenges Puma faces in gaining a larger share of the $400 billion global sportswear market. On a currency-adjusted basis, Puma’s quarterly sales

Leadership Change at Renault: CFO Pieton Out, Minto Takes the Helm

Renault announced on Tuesday that CFO Thierry Pieton is stepping down to pursue new opportunities, leaving the French automaker in stronger financial health than when he assumed the role two years ago. The company has appointed Duncan Minto, currently the CFO of Alpine, Renault Group’s sports car division, to succeed him starting March 1. During his tenure, Pieton spearheaded an operational turnaround and revamped the company’s approach to financial markets, positioning Renault on firmer ground. This progress came amid challenges

Blue Origin Targets SpaceX’s Dominance with New Glenn Debut

Jeff Bezos’ Blue Origin is preparing for the maiden launch of its massive New Glenn rocket this Sunday, marking a significant milestone in its bid to challenge Elon Musk’s SpaceX. Towering 30 stories tall, this heavy-lift, partially reusable rocket represents Blue Origin’s ambitious push to develop a new generation of launch vehicles. The New Glenn aims to compete directly with SpaceX’s Falcon 9 and Falcon Heavy rockets, which currently dominate the market for placing large payloads into orbit. If everything

Auto Industry Faces Shake-Up as Trump Threatens New Import Tariffs

Auto suppliers are reassessing their production strategies, exploring ways to relocate manufacturing to the United States or nearby regions to mitigate the impact of tariffs proposed by President-elect Donald Trump. Speaking at CES in Las Vegas, industry executives expressed concerns that higher costs and reduced demand for imported parts could lead to layoffs and alter the way vehicles are assembled. Trump has pledged to implement tariffs of up to 20% on global imports and as much as 60% on Chinese

SpaceX and Italy in Advanced Talks for $1.5 Billion Security Contract

Italy is in advanced negotiations with Elon Musk’s SpaceX for a €1.5 billion ($1.55 billion) deal to deliver secure telecommunications services to the government, marking one of Europe’s most significant projects in this sector. While discussions are still ongoing and a final agreement on the five-year contract has yet to be finalized, sources familiar with the matter indicate that the deal is likely to proceed. According to reports citing unnamed insiders, the project has already received approval from Italy’s Intelligence

Battery Concerns Prompt Ford to Recall Over 20,000 Hybrid SUVs

On Tuesday, the National Highway Traffic Safety Administration announced that Ford Motor Co (F.N) is issuing a recall for 20,484 hybrid SUVs due to battery-related concerns. The affected models include Ford Escape and Lincoln Corsair vehicles manufactured between 2020 and 2024. According to Ford, a manufacturing defect could result in a loss of drive power, heightening the risk of crashes and fires. Dealers will provide a free software update and replace the high-voltage battery pack as part of the recall.

Roche Confirms Stable Business Outlook with No Job Cuts Planned

Switzerland’s pharmaceutical giant Roche (ROG.S) has no plans for job cuts and remains in stable business health, CEO Thomas Schinecker stated in a Swiss newspaper on Sunday. This reassurance aims to bolster confidence among employees and stakeholders following recent challenges in the company’s drug development efforts. Roche’s share price has significantly declined since its peak in April 2022, with its pharmaceutical division facing setbacks, including the cancellation of two late-stage trials for an experimental leukemia treatment. Last month, the company

1 2 3 4 5 … 44