DETROIT – General Motors has cut the size of its Buick dealership network roughly in half in the U.S. through an ongoing voluntary buyout program, an executive told CNBC.The 1,000-store reduction aims to increase the amount of sales per location, or throughput, and profits at the remaining dealers, according...
Loaded containers stacked on top of a cargo ship sailing in a canal on Janvier 20, 2017 in Suez Canal, Red sea, Egypt. Camille Delbos | Corbis News | Getty ImagesSo far, shippers have diverted about more than $30 billion worth of cargo away from the Red Sea as they...
Target's shuttered small-format store on Folsom Street in San Francisco's SoMa neighborhood, November 2023.Gabrielle FonrougeOn Sept. 26, Target set off a national firestorm when it said it would close nine stores in four states because theft and organized retail crime had made them too dangerous to run.On its face,...
The GrinchSource: Universal Studios It's human nature for a new year to bring optimism and hope.For executives, investors and employees in the entertainment and telecommunications industries, 2024 is set to disappoint.Maybe that's too grinchy. Some things will get better. The actors' and writers' strikes are over. The 2024 U.S. presidential...
A container ship sails through the new section of the Suez Canal in the Egyptian port city of Ismailia, 135 kms northeast of the capital Cairo on October 10, 2019.Khaled Desouki | AFP | Getty ImagesAttacks by Iran-backed Houthi militants on ships in the Red Sea have already rocked...
A Vans store is seen in Hong Kong.Budrul Chukrut | LightRocket | Getty ImagesShares of The North Face and Vans owner VF Corp. tumbled Monday after the company reported that a hack had affected its ability to fulfill some orders ahead of the holidays.The company said hackers encrypted "some"...
Business is largely back to normal along the global supply chain, including where it all begins for the Care Bear: the factory floor in China.Anward Shen, owner of An'Best Toys in China, which produces the plush toys for U.S. retailer Basic Fun!, said the cost of making a Care...
Walmart started carrying lab-grown diamonds last year in select stores. Now, it has expanded that to nearly 90 items that range from $78 to $498 available at the majority of its stores.Mike Calia | CNBCSECAUCUS, N.J. — Here, shoppers can browse engagement rings, tennis bracelets and pendant necklaces displayed...
Trevor Milton, founder of Nikola Corp., exits court in New York, US, on Monday, Sept. 12, 2022.Stephen Yang | Bloomberg | Getty ImagesNikola Founder Trevor Milton is set to be sentenced Monday in a New York courtroom on three charges related to defrauding investors of the embattled electric- and...
The U.S. Department Transportation on Monday said it fined Southwest Airlines $140 million for violating consumer protection laws during last year's holiday meltdown that stranded millions of customers following severe winter weather.The DOT said the fine is 30 times larger than any fine it has issued for consumer protection...