News Highlights: Top Company News of the Day

09/22/2020 | 05:16pm
Musk Sees Battery Shortage as Electric-Car Sales Take Off 

Elon Musk will host a long-promised event showcasing advances in battery technology, the fuel in the race between the Silicon Valley car maker and rivals to win electric vehicles sales.

Nike Posts Higher Profit as Sales Fall 

Nike posted a higher profit in the fiscal first quarter on lower expenses but sales slipped as its wholesale business and Nike-owned stores were affected by the coronavirus pandemic.

NBCUniversal's Cable Channels Were a Crown Jewel. Now They're an 'Albatross.' 

New CEO Executive Jeff Shell is centralizing decision-making and slimming down the cable unit in the process.

Nikola Executive Defends Business Model 

The electric-truck firm's finance chief said the startup's partners are staying the course despite the abrupt resignation of company founder Trevor Milton.

Ford to Build Electric Cars in Canada as Part of Labor Deal 

The settlement includes a $1.5 billion investment in two Ford Motor factories-an engine plant in Windsor, Ontario, and a vehicle-assembly factory in Oakville, Ontario.

Ralph Lauren to Cut 15% of Workforce After Coronavirus Lockdowns Reduced Demand 

Ralph Lauren Corp. said it would cut its workforce by roughly 15%, reflecting a sharp drop in revenue tied to coronavirus-related store closings earlier this year and potential challenges ahead.

Carnival Cruise Line Lays Off More Than 100 Ship Officers 

EXCLUSIVE: The Carnival Corp. unit is laying off more than 100 ship officers because the parent company is shedding 18 less-efficient vessels from its fleet across various brands amid the Covid-19 pandemic.

Covid-19 Can Keep AutoZone in the Fast Lane 

With more drivers sticking with older cars and taking on do-it-yourself repair projects, AutoZone is in the right place at the right time.

Amazon Restricts How Rival Device Makers Buy Ads on Its Site 

Some makers of smart speakers, video doorbells and other hardware have hit roadblocks buying key ads in search results. Gadgets made by e-commerce giant get the edge.

Wendy's, Pizza Hut Raise Concerns Over NPC Bankruptcy Sale 

Wendy's Co. and Pizza Hut LLC are raising concerns over their largest franchisee's effort to sell its assets, including the franchise agreements, in bankruptcy court.


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