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Weekend Business News Roundup February 10, 2024

Weekend Business News Roundup February 10, 2024

Photo: Håkon Mosvold Larsen / NTB / AFP via Getty Images (Getty Images), George Frey (Reuters), USA-RETAIL/SHIPPING REUTERS/Fred Prouser (Reuters), Sorbis (Shutterstock), Bob DeChiara-USA TODAY Sports (Reuters), Image: Staff (Reuters), Brendan McDermid (Reuters), Justin Sullivan (Reuters), Laura Bratton, Photos: Post Consumer Brands (press release), Justin Sullivan (Getty Images)

In need of a rescue.
Photo: Håkon Mosvold Larsen / NTB / AFP via Getty Images (Getty Images)

Poor Tesla. All those recalls, a CEO whose drug use is allegedly so bad his rich friends on the board reportedly want him to head to rehab, increased competition at home and abroad. And as Valentine’s Day approaches, it keeps getting broken up with again and again and again: Investors are ditching its stock en masse, sending it down 24% for the year — a year that’s barely in its second month. – Melvin Backman Read More

Novo Nordisk reported on Jan. 31 that its revenue in 2023 jumped 31% to 232.3 billion Danish kroner ($33.8 billion).
Image: Staff (Reuters)

Gif: Southwest Airlines

Southwest Airlines unveiled a redesigned cabin featuring new Recaro seats, and while they have a clean modern look, they’re as thin as an ironing board. The seat manufacturer claims the shape of the backrest foam is “a callback to the automotive expertise of Recaro.” However, there’s an ongoing trend of introducing thinner seats to maximize cabin space and squeeze more paying passengers onboard. These new Southwest cabins are set to debut in early 2025 on the carrier’s new Boeing 737 Max 8 planes. – Ryan Erik King / Jalopnik Read More

Image: Brendan McDermid (Reuters)

Indianapolis-based pharmaceutical company Eli Lilly sold $176 million of its new weight-loss drug Zepbound in just under a month, according to the company’s fourth-quarter earnings report released Tuesday. Zepbound, a GLP-1 weight loss drug similar to Ozempic and Wegovy (both made by Novo Nordisk), launched in December. – Bruce Gil Read More

Photo: George Frey (Reuters)

Photo: USA-RETAIL/SHIPPING REUTERS/Fred Prouser (Reuters)

For the first time in two decades, US imports from Mexico surpassed those from China, according to data from the US Census Bureau, signaling a shift in global trade due to tensions between the US and China. – Britney Nguyen Read More

A McDonald’s drive-thru.
Image: Justin Sullivan (Reuters)

McDonald’s chief financial officer Ian Borden told investors Monday (Feb. 5) that he’s looking for ways to win back the low-income customers the company lost last year. – Laura Bratton Read More

Photo: Sorbis (Shutterstock)

There’s reason to believe that Ronald McDonald and friends will make a full and official comeback soon. Last week, McDonald’s announced the return of the Hamburglar to promote its new and improved hamburgers, the latest marketing push centered around a classic character from the McDonaldland spokesuniverse. – Angela L. Pagán / The Takeout Read More

Image: Laura Bratton, Photos: Post Consumer Brands (press release), Justin Sullivan (Getty Images)

Rappers Snoop Dogg and Master P may have already made their mark in hip hop, but their real dream was to make cereal. Yes, cereal.

Or at least that’s what the two performers (who are worth $160 million and $200 million, respectively) say in a new lawsuit against Walmart and Post Consumer Brands. The music moguls allege they started their company Broadus Foods in 2022 “to be a legacy for Snoop Dogg and Master P’s family they could leave to help them create a brighter future.” – Laura Bratton Read More

Photo: Bob DeChiara-USA TODAY Sports (Reuters)

The NFL, NBA, and other professional sports leagues were not told in advance of a new sports streaming service by Walt Disney Co., Fox, and Warner Bros. Discovery, even though they will be involved in it, the Wall Street Journal reported. – Britney Nguyen Read More

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