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Rani Molla

Ford slashes EV spending, kills plans for electric SUV

Ford is changing the roadmap for its electric vehicle strategy to focus more on profitability, downshifting EV spending to 30% of its capex budget from 40%. The move includes shifting some battery production to the US to capitalize on tax credits, pivoting more toward lower-priced and longer range vehicles, and scrapping a three-row electric SUV.

“We loved our three-row crossover,” CEO Jim Farley said. “But there was just no way it would ever meet our criteria of being profitable.”

Previously the company estimated it could lose $5.5 billion on its EV segment this year. In a press release, Ford mentioned a version of the word “profit” 10 times. Farley recently said that the company wouldn’t change its EV strategy based on who wins the upcoming election.

Ford Pulls Back Further From EVs With $1.9 Billion SUV Pivot

Ford Pulls Back Further From EVs With $1.9 Billion SUV Pivot

Previously the company estimated it could lose $5.5 billion on its EV segment this year. In a press release, Ford mentioned a version of the word “profit” 10 times. Farley recently said that the company wouldn’t change its EV strategy based on who wins the upcoming election.

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Bolstered bookseller Barnes & Noble is planning a major expansion and potential IPO

One of the hottest IPOs of the year could be a century-old bookstore that Amazon almost killed.

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Iconic hot dog brand Nathan’s Famous just sold for $450 million

Packaged meat company Smithfield Foods has agreed to acquire the historic Coney Island staple — best known for its annual hot dog eating contest — in an all-cash deal.

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KFC ranked worst out of 76 restaurant chains per new market share analysis

The chicken wars are taking their toll, new Barclays analysis suggests, as competitors close in on the chain that once ruled the roost.

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Nate Becker
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Paramount is doing everything except the one thing that could give its Warner Bros. bid a chance of success

Warner Bros. says “more than 93%” of its shareholders have rejected Paramount. That’s probably not going to change substantially unless Paramount boosts its offer.

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Streamers continued retreating from original shows in 2025

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