GM earnings fall as it prepares for a possible recession
CNN
Covid lockdowns in China hammered earnings at General Motors, and America's largest automaker said it is preparing for a possible recession.
"There are concerns about economic conditions, to be sure," said CEO Mary Barra in a statement to shareholders. She said the company is preparing for a possible downturn by reducing discretionary spending and limiting hiring.
"We have also modeled many downturn scenarios and we are prepared to take deliberate action when and if necessary," she said.
When jobs or inflation data counter President Donald Trump’s preferred economic narrative, he typically offers alternative statistics to shine a more positive light on the economy. But Trump’s latest effort asks Americans to buy in to some puzzling logic.
A new rule by the Federal Communications Commission will make it impossible for US consumers to buy the next generation of foreign made drones, including DJI.
CBS News editor in chief Bari Weiss decided to shelve a planned “60 Minutes” story titled “Inside CECOT,” creating an uproar inside CBS, but the report has reached a worldwide audience anyway.
Earlier this month, after President Donald Trump blasted “60 Minutes” for interviewing Marjorie Taylor Greene, correspondents noticed a change behind the scenes.
Paramount has upped the ante in its hostile takeover bid for Warner Bros. Discovery, announcing Monday that Larry Ellison will personally guarantee the tens of billions of dollars he is putting up to bankroll the transaction. The Ellisons will also let shareholders peer into the finances of their family trust.
Thieves are increasingly targeting the copper wires that keep America’s power grids and phone networks running.
You don’t get labeled the “Oracle of Omaha” for nothing.
An estimated $1.6 billion is up for grabs in Monday’s Powerball draw after the jackpot rolled over on Saturday.
“60 Minutes” just suffered a severe blow to its credibility. Now one of its own correspondents fears the program is being “dismantled,” and some employees are threatening to quit.
Popular Kentucky bourbon maker Jim Beam plans to pause production at its main distillery next year, according to the James B. Beam Distilling Company.
The opening was shy of analysts’ expectations that it could earn more than $100 million, but it also earned roughly $257 million internationally, bringing its global opening to $345 million.
The costs of social outings can add up, and some young adults are compromising by renting clothes instead of buying high-end luxuries.
As America’s labor market slows, AI-led interviews and auto-generated cover letters are dramatically changing the process of getting a job. And maybe not for the better.