Jim Farley, the CEO of Ford, said the Trump administration's tariffs will hurt the auto industry.Trump's tariffs on Mexico and Canada "would be devastating" for Ford, said Farley.Farley said South Korean, Japanese, and European automakers would benefit from Trump's tariffs.Jim Farley, the CEO of Ford, said President Donald Trump's latest tariffs on Mexico and Canada could deal a serious blow to his company and the auto industry. Farley, who was speaking at a conference organized by Wolfe Research in New Yor ...

Kimbal Musk sold 75,000 Tesla shares worth about $28 million, filings show.The disposals by Elon Musk's brother reduced his stake by almost 5% to 1.46 million shares.Tesla stock is up almost 40% since the election but has slid 13% since the start of January.Elon Musk's brother sold Tesla stock worth about $28 million in a single day, a Securities and Exchange Commission filing revealed on Monday. Kimbal Musk, a Tesla director, cashed in 75,000 shares of the electric vehicle company on February 6. The latest ...

Netflix is exploring licensing video podcasts as it looks to its next phase of growth.YouTube's success with video podcasts has shown they're not just for listening.Podcasts could offer Netflix cheap content and potential ad revenue growth.Netflix has spent the past two decades upending the TV business. Could video podcasts be next? Netflix has been exploring potential deals with podcasters, four industry insiders familiar with Netflix's strategy told Business Insider. The effort comes as YouTube's rise as ...

Core Insights - McDonald's $5 meal deals are successfully increasing customer spending beyond the initial price point, with average checks exceeding $10 [1][7] - The company is expanding its value meal offerings globally, with positive results reported in various international markets [2][3][4] Group 1: US Market Performance - The $5 meal deal includes items such as a McChicken or McDouble, chicken nuggets, a small drink, and fries, and has been made a permanent part of the McValue menu [1] - Other value meal options, like the "Buy one, Add one for $1" deals, are performing well and meeting expectations [2] - Despite a 1.4% decrease in same-store sales in the US, the overall strategy is aimed at attracting cost-conscious consumers [4] Group 2: International Market Performance - In Canada, the McValue menu features a $5.79 meal bundle and a $1 coffee, which has contributed to market share gains [3] - Germany has seen success with the McSmart menu, offering meal bundles at competitive prices, such as €4.99 for a double cheeseburger meal [3][4] - A similar GBP5 meal deal has been introduced in the UK, indicating a broader strategy to enhance value offerings across different regions [4] Group 3: Financial Performance - McDonald's reported a global fourth-quarter revenue of $6.39 billion, with a slight increase of 0.4% in global same-store sales [4] - The company's stock price rose approximately 4.8% following the earnings call, reflecting positive market sentiment towards its value strategy [5]

Some Meta workers impacted by Monday's job cuts were surprised since they had strong track records.Meta's layoffs targeted 5% of low performers. Some higher-rated staff said they were "blindsided."Meta CEO Mark Zuckerberg has been pushing to streamline the company's workforce.Several Meta employees who said they received positive performance ratings in their mid-year reviews last year had their jobs cut Monday, as the company let go of nearly 4,000 workers in its latest round of job reductions. Business Ins ...

Internal Meta memo shows the company is ramping up hiring of engineers as it cuts thousands of jobs.Meta wants to "expedite recruiting" of machine learning engineers in the coming weeks, per the memo.The hiring comes as Meta started notifying employees this week if they have been impacted by its cuts.Meta is ramping up hiring for machine learning engineers while slashing thousands of jobs. Last month, Meta said it would eliminate about 5% of its workforce, which could mean almost 4,000 employees lose their ...

This post originally appeared in the Business Insider Today newsletter.You can sign up for Business Insider's daily newsletter here.Welcome back! President Donald Trump said that he plans to impose 25% tariffs today on imports of steel and aluminum. Gold hit a record high following the news, while some related currencies softened against the dollar. US futures are rising in premarket trading. In today's big story, Meta employees impacted by its performance-based cuts are getting notified today.What's on dec ...

Dunkin' roasted Starbucks in its Super Bowl advertisement.The ad, starring Ben and Casey Affleck, took shots at Starbucks' long wait times and over-customization.The ad ended with the bold slogan, "America runs on Dunkin'."Dunkin' used the biggest ad space of the year to take shots at Starbucks. The Super Bowl advertisement, which featured actor-siblings duo Ben and Casey Affleck and NFL coach Bill Belichick decked out in Dunkin' merch, depicted a competition among coffee brands.The Affleck brothers and Bel ...

Meta plans to cut thousands of jobs to focus on AI investment and efficiency.Mark Zuckerberg targets low performers, part of a broader industry move toward leaner operations.Some employees told Business Insider they are anxious about the changes.Meta is planning to cut thousands of jobs in coming days as the social-media giant takes a tougher stance on under-performing employees and readies its finances for another year of heavy AI investment. The company has said it will eliminate roughly 5% of its workfor ...

Group 1 - Nike is returning as a Super Bowl advertiser for the first time in 27 years, a move that comes amid struggles to revive lagging sales [1][8] - The marketing push is costly, with some advertisers spending over $8 million for 30 seconds of airtime [2] - Nike's revenue decreased by 8% year over year to $12.4 billion for the three months ending November 30, and its shares have dropped approximately 30% over the last 12 months [4] Group 2 - The new CEO, Elliott Hill, has outlined a turnaround plan focusing on reducing discounts and enhancing relationships with wholesalers [3] - Nike is attempting to revitalize iconic sneaker brands like Jordans and Air Force 1s by limiting supply to increase demand [3] - The company is emphasizing big cultural moments, including a new ad timed with the Grammy Awards that celebrates the Jordan Brand [5][6] Group 3 - Nike's marketing department has undergone changes to improve brand storytelling, with several veterans returning or being promoted [4][6] - Hill has stated that Nike needs to prioritize sports in its strategy and invest in bold marketing efforts [7]