Latest News: Companies

Disney plans job cuts and hiring freeze, CEO Bob Chapek says in memo

disney plans to institute a targeted hiring freeze as well as job cuts, according to an internal memo sent to executives. “We are limiting headcount additions through a targeted hiring freeze,” CEO Bob Chapek said in a memo to division heads sent Friday and obtained by CNBC. “Hiring for the small subset of the most …

Disney plans job cuts and hiring freeze, CEO Bob Chapek says in memo Read More »

Carvana stock craters as outlook darkens for used vehicle market

Shares of carvana were on pace for their worst day on record on Friday after the company missed Wall Street revenue and earnings expectations for the third quarter as the outlook for used cars plummets following record demand, prices and profits during the coronavirus pandemic. The stock cratered around 40% in midday trading. Shares of …

Carvana stock craters as outlook darkens for used vehicle market Read More »

GM temporarily suspends advertising on Twitter following Musk takeover

DETROIT — General Motors is suspending its advertising on Twitter following the takeover of the social media platform by Elon Musk, the company told CNBC on Friday. The Detroit automaker, a Musk rival You’re heresaid he was ‘pausing’ advertising as he assessed Twitter’s new direction. It will continue to use the platform to interact with …

GM temporarily suspends advertising on Twitter following Musk takeover Read More »

McDonald’s to sell Krispy Kreme doughnuts in latest menu experiment

Scott Olson | Getty Images McDonald’s will sell Krispy Kreme donuts in select restaurants later this month for the first time. Starting Oct. 26, the fast-food giant will sell Krispy Kreme donuts at nine locations in the Louisville, Ky., area as part of a trial. McDonald’s said the test would help it learn more about …

McDonald’s to sell Krispy Kreme doughnuts in latest menu experiment Read More »

GM’s Cadillac Celestiq EV costs $300,000 and is customizable

2024 Cadillac Celestial Cadillac DETROIT — Cadillac is testing the limits of its brand looks and pricing power with the 2024 Celestiq — a large, bespoke electric car that will start at more than $300,000. The vehicle – unveiled on Monday evening – launches the General Motors brand in the ultra-luxury segment against the likes …

GM’s Cadillac Celestiq EV costs $300,000 and is customizable Read More »

Netflix to charge $6.99 a month for ad-supported plan starting Nov. 3

The Netflix logo is seen on a TV remote, in this illustration taken January 20, 2022. Dado Ruvic | Reuters netflix will charge $6.99 per month for its new ad-supported tier, which the company will roll out in the US on November 3. Netflix’s “Basic with Ads” tier will average four to five minutes of …

Netflix to charge $6.99 a month for ad-supported plan starting Nov. 3 Read More »

United adds new trans-Atlantic flights for summer 2023 in bet on travel recovery

United Airlines Boeing 777ER. Plane for Leonardo da Vinci airport in Fiumicino. Massimo Insabato | Mondadori Wallet | Getty Images United Airlines predicts another big increase in the transatlantic travel schedule, in a bet that consumers will continue to shell out for international trips, some of which have been postponed for years. Next summer, United …

United adds new trans-Atlantic flights for summer 2023 in bet on travel recovery Read More »

New cars are finally back in stock, but they come at a steep price

The vehicles are displayed for sale at an AutoNation car dealership on April 21, 2022 in Valencia, California. mario tama | Getty Images DETROIT — New cars are slowly becoming more widely available as supply chain bottlenecks finally begin to ease. But now a growing number of Americans might not want them or be unable …

New cars are finally back in stock, but they come at a steep price Read More »