General Motors has announced that the Cadillac Escalade V-Series performance model will see an increase in production for the 2025 model year. The SUV will come equipped with a standard 55-inch diagonal display across the dash, a passenger-only screen, an “executive package” for the second row, power doors, and large 24-inch wheels. These updates aim
Business
New Balance announced a new multiyear deal with the WNBA, signaling its commitment to women’s sports. This partnership will make New Balance an official partner of the WNBA, adding to a growing list of backers for the league. The deal includes broadcast, digital, and retail content featuring Los Angeles Sparks rookie forward Cameron Brink. This
Morgan Stanley has reported impressive second-quarter financial results, surpassing analysts’ expectations in both profit and revenue. The company reported earnings of $1.82 per share, exceeding the $1.65 per share estimate, and revenue of $15.02 billion, well above the $14.3 billion estimate. This significant outperformance can be attributed to the robust trading and investment banking results
General Motors’ ambitious goal of producing 1 million all-electric vehicles in North America by the end of 2025 is now facing uncertainty, as CEO Mary Barra recently indicated. The company’s original plan to establish a significant production capacity for EVs in both China and North America by 2025 may not be realized as originally envisioned.
Macy’s has officially announced the cessation of negotiations with the activist group that had been attempting to take the retailer private for approximately $6.9 billion. The decision was made unanimously by Macy’s board of directors, citing issues related to financing and premium as insurmountable obstacles. The lead independent director of Macy’s, Paul Varga, expressed the
SpaceX’s Falcon 9 rocket recently experienced an inflight failure during the “Starlink Group 9-3” mission, resulting in the destruction of the upper second stage. According to SpaceX CEO Elon Musk, the failure occurred when the engine failed to reignite as planned, leading to a “rapid unscheduled disassembly” (RUD). The incident was attributed to a leak
Audi, a Volkswagen-owned company, has recently announced a multiyear partnership with Inter Miami CF, becoming the official premium automotive partner of the South Florida soccer club. This move is part of Audi’s strategy to engage with a rapidly expanding soccer fan base in the United States. Emilie Cotter, Chief Marketing Officer of Audi of America,
In an unexpected turn of events, Delta Air Lines is facing a massive hit to its revenue this summer due to travelers avoiding Paris as a destination. This decision by potential tourists has led to a significant loss of around $100 million for the airline, disrupting what would have been a busy summer for European
The National Football League is contemplating the idea of allowing minority private equity ownership for its 32 teams, with a potential ownership stake of up to 10%. Commissioner Roger Goodell discussed this possibility in an exclusive CNBC interview, emphasizing the need for the league’s policies to align with the evolving sports landscape. Goodell acknowledged the
Pfizer has announced its plans to proceed with the development of a once-daily version of its weight loss pill, danuglipron, following positive results from an ongoing early-stage study. The company has evaluated various formulations of the drug and has identified one that exhibits the most favorable safety profile and efficacy in terms of how the