Business

In a significant restructuring move, General Motors (GM) has decided to dramatically scale back its workforce at Cruise, laying off around half of its remaining employees in the now-defunct robotaxi business. This announcement, which follows GM’s decision not to continue funding Cruise after an investment surpassing $10 billion since its acquisition in 2016, underscores a
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In a historic move that underscores its commitment to the future of electric vehicles (EVs), Honda Motor Co. is investing over $1 billion in its Ohio facilities to establish a cutting-edge manufacturing hub. This considerable financial injection, initially announced at $700 million, is emblematic of a significant shift in Honda’s production strategy, which has traditionally
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On a fateful Wednesday evening, an air disaster unfolded in the skies over Washington D.C. as an American Airlines regional jet collided with a military helicopter shortly before landing at Ronald Reagan Washington National Airport. This catastrophic event, which involved 64 individuals on board the aircraft, marks one of the gravest aviation incidents in the
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Planet, a leading satellite imagery and data analysis firm, made headlines with its announcement of a monumental $230 million contract signed with an undisclosed anchor customer. This agreement marks a significant milestone in Planet’s ambitions and represents an essential transition into the burgeoning satellite services market. The deal is not just a financial boon; it
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In a disheartening trend for one of the world’s most recognizable coffee brands, Starbucks reported a continued decline in same-store sales, marking the fourth straight quarter of setbacks. While the financial bottom line, including quarterly earnings and revenue, surpassed market expectations, the underlying data reveals critical challenges that the company must address. Specifically, Starbucks’ same-store
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In a strategic move aimed at streamlining operations and navigating financial pressures, JetBlue Airways has announced that it will offer voluntary early retirement packages to certain pilots. This decision, communicated to members by the Air Line Pilots Association (ALPA), is part of the airline’s broader effort to manage costs and boost revenue streams during a
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