Why it matters: After winning record contracts at General Motors, Ford and Stellantis, the UAW has Tesla in its sights — along with 12 other non-unionized automakers with operations in the U.S.
Hertz is offloading some 20,000 electric vehicles (EVs) from its rental fleet, which means now could be a great time to buy a used EV at a good price.
Driving the news: The rental car giant said in a regulatory filing Thursday that it will sell roughly a third of its global EV fleet, citing repair costs and weak demand.
Chris Ailman on Thursday announced plans to retire as chief investment officer for the California Public Teachers' Retirement System (CalSTRS) after a 24-year run.
Why it matters: America's two largest public pensions, CalPERS and CalSTRS, are now on the hunt for new CIOs.
Why it matters: The proliferation of Mexican restaurants — once staples only of the Southwest and parts of the Midwest — highlights the growing influence of Mexican Americans on U.S. culture and the effects of increased migration from Mexico over the last 30 years.
The corporate culture wars representone of the biggest risks of the year,Eurasia Group president Ian Bremmer writes in a newly released report.
Why it matters: In a particularly fraught election year, U.S. businesses and brands are more vulnerable to political attacks. These can directly impact a company's reputation and its ability to do business in certain states — and corporate affairs teams are the first line of defense.
A majority of Americans support the notion of diversity in the workplace, but they don't love how it's branded.
By the numbers: According to a recent survey from The Harris Poll, roughly half of Republican voters view the term "DEI" as divisive, while only 27% of Democrats agree.
A majority of Republicans polled also believe terms like "BIPOC," "LatinX" and "ESG" create more division.
The intrigue: Voters from across the aisle find terms like "cancel culture," "woke" and "underrepresented" to be alienating.
How one views academia is increasingly becoming a red or blue litmus test.
Why it matters: Harvard's reputation started to nose dive following former university president Claudine Gay's reaction to the Israel-Hamas war, her congressional testimony and the public relations crisis that has since ensued.
Zoom in: In a recent Morning Consult poll, the school's net favorability rating reached its peak in June at 36% but has since dropped 15 points across all U.S. adults, regardless of party affiliation.
Microsoft is nipping at the heels of longtime leader Apple, in the never-ending race to be the largest U.S. company.
Why it matters: It's another sign of how the emergence of artificial intelligence is prompting a reshuffling of the giant tech companies that dominate the market and heavily influence the U.S. economy.
ValueAct's investment plan for Disney is centered on strong cash flows from its parks and consumer products, and the expectation that the streaming wars are ending, according to the activist fund.
Why it matters: If Disney's performance matches ValueAct's thesis, it will help solidify support around CEO Bob Iger and the board. If the stock continues to lag, ValueAct's patience will wear thin, as will its support.
Car rental giant Hertz this morning said it would sell 20,000 of its electric vehicles to buy more internal combustion vehicles, citing expensive repairs for its EVs.
Why it matters: The move marks an abrupt reversal by Hertz, which in 2022 announced plans to buy 165,000 EVs from Tesla and Volvo unit Polestar.
U.S. venture capital investing was way down in 2023. Everyone suspected it, but now there's official data via the annual Venture Monitor report from PitchBook and the National Venture Capital Association.
By the numbers: VCs disbursed $170.6 billion to 15,766 U.S. startups last year, compared to $242.2 billion for 17,592 companies in 2022.
Harbor Health, an Austin, Texas-based primary and specialty clinic group, raised $95.5 million in new venture capital funding led by General Catalyst.
Why it matters: That's a lot of dough for a primary care business operating in one state, even if it quadrupled to eight locations last year, which suggests some synergies with General Catalyst's recent announcement that it will acquire a health system (i.e., hospital).
Circle, the largest U.S. issuer of stablecoins, has filed confidential IPO papers with securities regulators.
Why it matters: Stablecoins have been one of the hottest topics for regulators in the digital assets space, and Circle pitches itself as a company ready and willing for regulatory compliance.
The U.S. Chamber of Commerce is making a full-throated defense of free enterprise, launching a counter-offensive against a "constant loop of pessimism" from businesses and politics that is undermining faith in the country's outlook.
Driving the news: CEO Suzanne Clark is expected to insist in a speech on Thursday that the virtues of American capitalism are being drowned out by a news cycle that amplifies "everything [that's] wrong, and bad, and dire about this country."
Former UN ambassador Nikki Haley denounced 2024 rival Gov. Ron DeSantis for his feud with Disney during a heated Republican presidential debate on Wednesday night.
Driving the news: "When they went and criticized him, he got thin-skinned and suddenly started to fight back," said Haley at the CNN debate in Des Moines, Iowa, in reference to the DeSantis administration's response to Disney publicly criticizing Florida's Parental Rights in Education law, which critics refer to as "Don't Say Gay."
