Nestle has lowered its sales forecast for the year to 3% growth, down from 4%, as consumers reject price hikes on its products, leading to a 5% drop in its shares.
Firm Management
Air New Zealand Withdraws 2030 Emissions Initiative Due to Fuel Costs and Delays
Air New Zealand has dropped its 2030 climate goal due to challenges with fuel-efficient aircraft delivery and alternative fuel costs, making it the first major airline to revise near-term environmental targets.
Toyota Chairman Warns of Potential Board Exit as Shareholder Support Dips Due to Scandals
Following safety certification scandals, Toyota Chairman Akio Toyoda warns that he may lose his board position if declining shareholder support, currently at its lowest ever, continues.
Walmart Eyes $200 Million Investment in Autonomous Forklifts
Walmart is considering a $200 million investment in autonomous forklifts, joining their 'FoxBots,' to enhance warehouse efficiency and reduce labor costs.
Nissan Slashes Production of Rogue Crossover at Kyushu Plant Due to US Sales Decline
Nissan has cut production at its main Japanese plant by a third due to weak U.S. demand and struggles to compete with the demand for hybrid car models.
Latest News
Elon Musk announced that Tesla will begin using humanoid robots within the company as extra help next year, with plans for commercial production by 2026.
Reliance Industries Ltd. reported a 5.4% profit decline for the quarter ending June 30, falling short of expectations due to ongoing issues in its oil-to-chemicals sector, despite a 12% revenue increase.
Boeing, facing severe financial and reputational damage from the 737 Max crashes, is implementing a comprehensive recovery plan involving better safety measures, workforce training, and buying back its troubled fuselage supplier.
The Aurea Group and several investors are expected to acquire The Body Shop after it announced its bankruptcy earlier this year.
HSBC announced that Georges Elhedery, its chief financial officer, will become the firm’s next CEO effective Sept. 2.
Elon Musk made his intention to move the headquarters of his companies SpaceX and X, formerly Twitter, from California to Texas after California Governor Gavin Newsom signed a transgender rights law.
Morgan Stanley reported that profits performed better than expected across the board in the second quarter of 2024 despite investors shifting to higher-yielding assets.
Chinese state-backed financial companies in Hong Kong demand employees to return portions of their bonuses, aligning with President Xi Jinping’s ‘common prosperity’ plan to reduce income inequality.
The board of the department store Macy’s unanimously decided to terminate its negotiations with Arkhouse Management and Brigade Capital regarding the group’s proposal to acquire the retailer.
