Toyota CEO Akio Toyoda is an avid motorsports fan who routinely heads out on the track to test the company’s latest products, especially high-performance models like the new Supra sports car and the smaller Toyota 86. So there was no surprise when he highlighted some of the benefits of an expanded relationship with smaller Japanese
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It is “logical” for McLaren Automotive to continue manufacturing in the U.K. in spite of Brexit concerns, the firm’s chief executive said on Tuesday. “You only need one manufacturing location for 5,000 cars a year,” Mike Flewitt, chief executive officer of McLaren told CNBC’s “Street Signs.” “It would be uneconomic to do anything else,” he
The future of capitalism hinges on how the U.S. government enforces its antitrust laws on the largest technology corporations in the country, Salesforce.com co-CEO Marc Benioff told CNBC on Wednesday. The Salesforce founder criticized social media platforms for their vulnerability to bad actors, reiterating his belief that Facebook is “probably the new cigarettes” because it
House lawmakers are upping the pressure on the e-cigarette industry with two hearings scheduled Wednesday morning looking to rein in the industry and assess its risk as an emerging public health threat. The House Appropriations Committee and an Energy and Commerce subcommittee have called physicians, parent groups, public health officials and anti-smoking groups to testify.
The logo of Zilingo is displayed on a window at the company’s office in Singapore. Ore Huiying | Bloomberg | Getty Images Southeast Asian fashion start-up Zilingo on Wednesday said it is launching a program in Indonesia, where it will provide microloans, vocational training and resources for women to run their own garment manufacturing businesses.
State and local officials are reportedly in talks with three major drug distributors on a potential $18 billion settlement of litigation that blames them for helping to fuel the U.S. opioid epidemic. The potential settlement, according to the Wall Street Journal, would require McKesson Corp., AmerisourceBergen Corp. and Cardinal Health to collectively pay the $18 billion over
Pedestrians walk past a Gymboree store in San Francisco, California. David Paul Morris | Bloomberg | Getty Images The Gymboree clothing brand for boys and girls will be back online and in some stores next year, thanks to The Children’s Place. The Children’s Place had paid $76 million for the rights associated with both Gymboree
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC DETROIT – The United Auto Workers has summoned local union leaders to Detroit on Thursday for an update on its negotiations with General Motors. The union has traditionally done this when a
Southwest Airlines Boeing 737 MAX aircraft are parked on the tarmac after being grounded, at the Southern California Logistics Airport in Victorville, California on March 28, 2019. Mark Ralston | AFP | Getty Images The Boeing 737 Max won’t return to service at Southwest Airlines until February at the earliest, the union that represents the
While President Donald Trump says he has a trade deal in place, the Chinese side is calling it progress – as corporate spending and investment hangs in the balance. Wall Street analysts were largely skeptical of Trump’s announcement on Friday of a substantial trade deal, as Evercore ISI strategists noted that it “focused on the