Daimler cuts costs and sets course for the future

Daimler, the owner of Mercedes-Benz, is cutting at least 10,000 jobs around the world, making it the latest carmaker to shed workers as the industry races toward its electric future......»»

Daimler, the owner of Mercedes-Benz, is cutting at least 10,000 jobs around the world, making it the latest carmaker to shed workers as the industry races toward its electric future......»»

Daimler said on Friday it will cut at least 10,000 jobs worldwide over the next three years, following others in the industry as they cut costs to invest in electric vehicles while grappling with weakening sales......»»

Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56 billion euros ($1.74 billion) loss before interest and taxes in the second quarter......»»

Daimler will cut development costs of new Mercedes-Benz cars by a significant amount by 2025 and will intensify alliances with rivals as a way to improve margins, Ola Kaellenius, the future chief executive, said on Monday......»»

The attorney general says Exxon maintained two sets of financials, with the internal one understating the costs it cited publicly. New York’s attorney general, Barbara Underwood, has sued Exxon Mobil for allegedly misleading investors about.....»»

Chinese electric vehicle developer Faraday Future's co-founder Nick Sampson has resigned, tech news website Verge reported on Tuesday, a week after the cash-starved company planned pay cuts and layoffs to reduce operational costs......»»

Chinese electric vehicle developer Faraday Future said on Tuesday its co-founder Nick Sampson has resigned, a week after the cash-starved company planned pay cuts and layoffs to reduce operational costs......»»

Daimler cut its dividend as fourth-quarter operating profit fell 22 percent as trade wars and rising costs for developing electric and self-driving cars hit profits at Mercedes-Benz cars, the company said on Wednesday......»»

Daimler cut its dividend on Wednesday after fourth-quarter operating profit plunged by 22 percent, hit by trade wars, rising costs for developing electric cars and an industry downturn that has dented even the most profitable carmakers......»»

Cutting interest rates could spark a homebuying frenzy that combines with rising housing costs to send home prices to record levels, Bill Pulte said. The median home price could surge by 20% to over $500,000 if the Fed cuts rates.....»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

The Lyriq is Cadillac’s first fully electric car and it points the way forward for a brand long associated with powerful gas engines......»»

A new study done for the Bay Area Council polled local voters about their worries regarding the future of the Bay Area's economy......»»

When Colleen Houston took over as CEO of ArtWorks about a year ago, the Covid-19 pandemic had just emerged and the financial picture was dim. Revenue was down and expenses were up.  Chief among those rising costs was the rent on the not-for-profi.....»»

Navigating the intersection between future business growth and real estate needs remains a primary focus for small to mid-sized business owners. Controlling the occupancy cost can be a valuable and often overlooked priority......»»

Widespread layoffs are underway at Wells Fargo & Co., as the bank seeks to slash costs and build efficiency......»»

Renault is preparing to substantially reduce its vehicle range, withdrawing well-known but ailing models like the Espace minivans, as part of looming cost cutting plans, four sources in the industry and close to the French carmaker said......»»

The company reduced base salaries for a "for a substantial number of its global employees, including each of its executive officers.".....»»

The EU has set out its proposals for future air travel. Passengers will need masks, but Brussels says there's no need to ban the use of middle seats. Julian Satterthwaite reports......»»