corporate

Updated Jan. 12, 2024 7:11 am ETBERLIN—Tesla plans to halt production at its biggest factory in Europe for two weeks as the conflict in the Red Sea continues to disrupt transport ships, raising the specter of a new supply-chain crisis for European manufacturers dependent on parts from China and other Asian countries.Tesla said in a statement Friday that it would stop nearly all production at its factory near Berlin from Jan. 29 to Feb. 12 because of a lack of components.Copyright ©2024Dow Jones & Company, Inc. All…

Even the deepest pockets have their limits. Amazon and Google-parent Alphabet sit on a combined $184 billion in cash and short-term investments. Those two, along with big tech peers Microsoft, Apple and Facebook-parent Meta Platforms, hold the highest such balances among nonbanking companies on the S&P 500, according to data from S&P Global Market Intelligence. Amazon and Alphabet are also currently generating just under $95 billion combined in annual free cash flow. Copyright ©2024Dow Jones & Company, Inc.…

After a year of right sizing, employers are looking in the mirror and concluding there is still fat to lose. Companies including Amazon, Xerox, Google and BlackRock this month have announced plans to trim their workforces. Some of the companies now cutting jobs conducted larger-scale layoffs over the past year or so. Since then, inflation has come down along with expectations for a recession, which most economists anticipated as recently as the middle of last year. Copyright ©2024Dow Jones & Company, Inc. All Rights…

The U.S. has become the world’s top exporter of liquefied natural gas. President Biden is finding that this superpower status comes with its own set of headaches. In the past two years, hundreds of cargoes loaded with supercooled gas departed the U.S. Gulf Coast as foreign buyers turned to America for energy supplies. Developers of export terminals have seized the momentum to advance plans to build new plants and crank out even more LNG.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved.…

Jan. 11, 2024 11:00 pm ETListen to article(2 minutes)MILAN—When Gucci’s flagship store here reopened last month, the space was missing the baroque flourishes and jewel-toned colors that have defined the brand in recent years. Instead the look is decidedly less maximalist—all clean lines and understated tones.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Jan. 11, 2024 11:00 pm ETListen to article(2 minutes)MILAN—When Gucci’s flagship store here reopened last month,…

Updated Jan. 11, 2024 5:10 pm ETInternational Flavors & Fragrances tapped J. Erik Fyrwald to succeed Frank Clyburn as its next chief executive officer.The company, which manufactures flavors and fragrances used in food, beverage, personal-care and household products, also appointed Fyrwalk to the board. The CEO and board appointments are effective Feb. 6.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Updated Jan. 11, 2024 5:10 pm ETInternational Flavors &…

The Securities and Exchange Commission has charged Shanchun Huang with allegedly inflating Future FinTech Group’s share price just before he took over as the company’s chief executive.The SEC alleged in a complaint Thursday that Huang used manipulative trading techniques in early 2020 to push the fintech firm’s share price up, with the goal of preventing it from being delisted from the Nasdaq exchange.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 The Securities and…

CVS Health plans to close dozens of pharmacies inside Target stores at a time when pharmacy chains are struggling to grow retail profits.CVS will close the pharmacies between February and April this year, said a company spokeswoman. The closures are part of CVS’s efforts to pare down its retail footprint “based on our evaluation of changes in population, consumer buying patterns and future health needs,” she said.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 CVS…

 The Environmental Protection Agency sent letters requesting telecom companies to meet with the agency about their lead-sheathed phone cables, in a new phase of an investigation in the EPA’s efforts to protect the public from potential lead hazards.The agency’s move comes on the heels of the EPA finding more than 100 soil and sediment readings with lead above the regulator’s safety guideline for children at some phone lead-cable sites identified by The Wall Street Journal in three states.Copyright ©2024Dow Jones &…

Apple’s board of directors is getting a shake up.Longtime Apple board member Al Gore is retiring from the board, the company announced Thursday. The former U.S. vice president had been a board member since 2003, a witness of the company’s rise and transformation a few years after the return of co-founder Steve Jobs as chief executive.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Apple’s board of directors is getting a shake up.Longtime Apple board member Al Goreis…