Ford Motor Co. is celebrating the Mustang's 60th anniversary on Wednesday when it will unveil a special edition of the classic pony car to commemorate its legacy. In honor of the Mustang, which made its debut at the 1964 New York World's Fair, Ford is holding an event at Charlotte Motor Speedway in North Carolina. Joe Bellino, Mustang Brand Manager, told FOX Business that the company is "planning for just over 2,000 Mustang owners and fans to be in attendance and they'll be able to bring their own personal ...

Submissions to Boeing's tip line for safety and quality concerns surged 500% in the first quarter of this year compared to a year ago. Boeing's manufacturing processes have been under heightened scrutiny for quality and safety issues after a Jan. 5 incident in which a Boeing 737 Max 9 operated by Alaska Airlines experienced a mid-air blowout of its plug door panel after taking off, causing the cabin to depressurize and prompting the flight to return to Oregon's Portland International Airport. A Boeing spoke ...

A Republican lawmaker is urging the Federal Trade Commission to probe the China-based parent company of fast fashion retailer Temu over its alleged ties to the Chinese Communist Party. Rep. Brian Mast, R-Fla., on Tuesday sent a letter to the FTC calling out PDD Holdings Inc. and its subsidiaries, Pinduoduo and Temu, for "harmful business practices here in the United States." The letter urges the FTC to investigate after a pair of class action lawsuits were filed over concerns about the Temu app and data pri ...

Tesla confirmed its laying off more than 10% of its global workforce following weak first quarter deliveries and increasing competition in the electric vehicle (EV) market, according to a filing with the Securities and Exchange Commission. This followed a leaked internal email from CEO Elon Musk saying that the automaker is looking to cut costs and increase productivity after years of rapid growth that have led to duplication in some roles and functions in certain areas of the company, tech publication Elec ...

The U.S. National Highway Traffic Safety Administration (NHTSA) announced Monday that its investigative division has launched a preliminary evaluation after receiving multiple reports of Cadillac Lyriq electric vehicles losing their brake boost assist functions. The agency's notice said the field reports allege Lyriqs from the 2023 model year have had instances of a hard brake pedal, followed by a "Brake System Failure" message at start up or while driving.  FORD RECALLS NEARLY 43,000 VEHICLES OVER FUEL LE ...

Tesla is preparing to lay off more than 10% of its global workforce following weak first quarter deliveries and increasing competition in the electric vehicle (EV) market, according to a report. A leaked internal email from CEO Elon Musk said that the automaker is looking to cut costs and increase productivity after years of rapid growth that have led to duplication in some roles and functions in certain areas of the company, tech publication Electrek reported on Monday.The world's most valuable automaker e ...

Apple has lost its position as the world’s top phonemaker to Samsung in the first quarter of 2024 as its shipments have dropped around 10%, a report says.  From January to March, Samsung captured a 20.8% market share, followed by Apple with 17.3% and China-based Xiaomi with 14.1%, Reuters reported, citing data from research firm IDC. Samsung, which recently released the Galaxy S24 series phones, shipped more than 60 million devices during the first quarter, Reuters added.  The news agency cited the IDC as s ...

Core Viewpoint - California's new $20 minimum wage law is forcing fast food chains to adapt their business models, with franchise owners considering price increases and operational changes to maintain profitability [1][3]. Group 1: Impact on Franchise Operations - Franchise owner Scott Rodrick, who operates 18 McDonald's locations, anticipates an "unprecedented impact" on the franchise business model in California due to the new wage law [3][5]. - Rodrick has already raised menu prices by 5% to 7% in anticipation of the law, but emphasizes that further economic adjustments are necessary for survival [3][4]. Group 2: Strategies for Survival - The focus for franchise owners is on survival, which includes a combination of price adjustments, careful management of capital expenditures, and labor efficiencies [4][5]. - Rodrick expresses a commitment to maintaining his workforce of 800 employees, stating that layoffs are the last option he is considering [5][7]. Group 3: Long-term Considerations - The introduction of the new wage law raises questions about the long-term viability of operating franchises in California, particularly for the next generation of franchise owners [7].

Ford Motor Co. is recalling tens of thousands of small SUVs over concerns cracked fuel injectors could leak, increasing the risk of sparking a fire in engines. A notice posted by the National Highway Traffic Safety Administration (NHTSA) said the recall is for certain 2022-2023 Bronco Sport and 2022 Escape models with 1.5-liter engines, totaling 42,652 vehicles. FORD SPOTLIGHTS A NEW LINEUP OF POPULAR TRUCKSThe NHTSA notice said Ford is addressing the issue by having dealers update the affected vehicles' en ...

Ford Motor Co. is celebrating the ramp up of shipments for its lineup of new model year pickup trucks with a trio of "truck takeover" events Thursday at its manufacturing plants as it looks to build on its status as the leading truck-maker. "This is a really special time for us. I've been with the company almost 30 years, but I can't remember a time where we've done what we're doing right now, which is launching a new F-150 and an all-new Ranger simultaneously," John Emmert, Ford's general truck manager, to ...