Auction sales during Monterey Car Week have experienced a noticeable decline, falling 3% from the previous year. This drop can be attributed to a shift in preference from older classic cars to newer models, leading to a surplus of unsold classics from the 1950s and 1960s. Total sales at the five car auctioneers in Monterey,
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The landscape for Paramount Global is shifting as a competitive bidding war unfolds. Edgar Bronfman Jr. has emerged as a key player in this scenario, with an initial bid of $4.3 billion that quickly escalated to $6 billion. This move has raised eyebrows and created a sense of uncertainty regarding Paramount’s future. The special committee
Ford Motor Company recently announced a significant change in its production plans, delaying the launch of a next-generation all-electric pickup truck and canceling a three-row electric SUV. Instead, the company has decided to focus on the development of hybrid models and electric commercial vehicles. This strategic shift is aimed at capital efficiency and profitability in
Alaska Airlines has received approval from the U.S. Justice Department for its plan to acquire Hawaiian Airlines. The approval came after the antitrust regulators completed their investigation of the $1.9 billion deal without filing a lawsuit to block it. The next step for the two airlines is to obtain approval from the U.S. Transportation Department
California Gov. Gavin Newsom recently signed 10 new bills into law to combat retail crime in the state. The new laws target various forms of theft, including shoplifting, theft from vehicles, organized crime, and the resale of stolen goods on online marketplaces. These laws were introduced in response to growing concerns among retailers about the
Starbucks is facing a major operational challenge when it comes to mobile orders, with frustrated customers, overwhelmed baristas, and crowded counters becoming a common sight in their cafes. Former CEO Howard Schultz highlighted the mobile app as the biggest Achilles heel for the coffee giant, with mobile orders accounting for roughly one-third of the total
SpaceX is gearing up for an exciting new private mission at the end of this month. The Polaris Dawn mission is the brainchild of billionaire and Shift4 founder, Jared Isaacman, who purchased three flights from SpaceX in 2022 for his Polaris Program dedicated to human spaceflight endeavors. The mission, set to launch from Florida on
Marvel Studios has once again proven its dominance in the box office with the success of “Deadpool & Wolverine,” a collaboration between Ryan Reynolds, Hugh Jackman, and Shawn Levy. This R-rated film has surpassed the previous record holder, “Joker,” with an impressive $1.085 billion in global box office revenue. The willingness of Disney and Marvel
Walmart, the retail giant, has seen a decline in prices of various grocery items, as stated by CEO Doug McMillon. However, despite efforts to pressure suppliers to reduce prices, there is one area in the store where inflation remains stubborn – the aisles that hold dry groceries and processed foods. Items like carbonated soft drinks
Starbucks has offered incoming CEO and Chair Brian Niccol an enticing pay bump and significant one-time awards to entice him away from his previous position as chief executive at Chipotle Mexican Grill. Niccol, who officially assumes leadership at the struggling coffee chain on Sept. 9, will be faced with the daunting task of reviving the