Tag: Company
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Ford’s plan for EV profitability in 2026
Ford forecast a drastic turnaround for its electric vehicle unit on Thursday, reiterating that it expects its EV business to be solidly profitable by the end of 2026. Here’s a step-by-step look at how Ford expects the Model e to achieve a positive EBIT profit margin of 8% in less than four years. Wall Street […]
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Crypto will be ‘over’ in the US if Coinbase loses battle with SEC. This is why
Hello! Welcome back to Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch. Crypto exchange Coinbase MINT said Wednesday it received a notice from Wells from the Securities and Exchange Commission that could lead to formal charges. The SEC’s Wells notice covered an unspecified portion of the exchange’s publicly traded digital assets, the staking […]
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Accenture is cutting 19,000 jobs as IT spending declines
Accenture PLC is cutting around 19,000 jobs over the next 18 months, or 2.5% of its workforce, as the professional services company looks to cut costs and streamline operations amid declining IT spending. The company, which offers IT consulting and other business services, said in a filing filed Thursday that most of the employees expected […]
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GM stops making Chevy Camaro, leaving the future of the muscle car uncertain
New York CNN — General Motors announced Wednesday that it is ending production of the latest generation of the Chevrolet Camaro, leaving the Ford Mustang as the last gasoline-powered American performance coupe. Stellantis had previously announced that it would end production of the larger Dodge Challenger at the end of this year. Around the same […]
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Off-duty pilot on Southwest flight comes to the rescue after pilot has an in-flight medical emergency
CNN — An off-duty pilot who was a passenger on a Southwest Airlines flight stepped in to assist the flight crew after one of the pilots on duty suffered a mid-flight medical emergency. The incident began not long after Flight 6013 to Columbus, Ohio, departed Las Vegas on Wednesday, Southwest Airlines said. One of the […]
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Ford’s EV business lost $2 billion by 2022, offset by fleet and legacy
The badge of an electric vehicle from Ford Motor Co. E-Transit at a presentation in Washington, DC, USA, on Wednesday, July 28, 2021. Al Drago | Bloomberg | Getty Images Ford Motor said Thursday that its electric vehicle business lost $2.1 billion on an operating basis last year, a loss more than offset by $10 […]
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Yellen’s comments shocked the market, not the Fed’s rate hike
CNBC’s Jim Cramer said Wednesday that the market was distracted by Janet Yellen’s comments about bank failures instead of focusing on the stability reflected in the Fed’s rate hike. During the press conference of Fed Chairman Jerome Powell, Cramer said the market went haywire before falling in response to Yellen’s comments. CNBC’s Jim Cramer said […]
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Moderna CEO Stephane Bancel defends quintuple price hike of Covid vaccine amid Senate grilling
Stephane Bancel, CEO of Moderna, on Wednesday defended the company’s plans to quintuple the price of its Covid shots, defying pressure at a Senate hearing to waive the increase while taking over his compensation. Moderna plans to increase the list price of its vaccine by 400% this fall to $130 when the injections are sold […]
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Virgin Orbit is closing in on a $200 million deal on Thursday
A general view of Cosmic Girl, a repurposed Boeing 747 aircraft with the LauncherOne missile under the left wing, as final preparations are made at Cornwall Airport Newquay on January 9, 2023 in Newquay, United Kingdom. Matthew Horwood | Getty Images Virgin Orbit is in final talks to raise money from Texas-based investor Matthew Brown, […]