Ford plans Europe cuts to lift profits and efficiency
Ford of Europe will cut salaried staff and trim costs by about 200 million dollars annually to reach a 6 to 8 percent pretax operating margin. CEO Mark Fields and Jim Farley cite cyclic demand and ongoing restructuring, with 60 day headcount actions, plant closures already since 2013, and continued efficiency gains across manufacturing, logistics, and product lineup.
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Wells Fargo Reaches 1.2 Billion Mortgage Settlement
Wells Fargo agrees to a 1.2 billion settlement with the U.S. government over a long running mortgage dispute. The deal ends civil fraud claims tied to under writing of federally insured loans and false certifications. The settlement cuts 2015 profit to about 22.9 billion and 4.12 per share.
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Fiat Chrysler recalls over half a million Dodge Chargers worldwide
Fiat Chrysler Automobiles recalls more than 430000 Dodge Chargers from 2011 to 2016 model years after analysis found the body can deform during jack use, risking instability and slips. Three minor injuries are linked. wheel chocks will be provided free and customers will be notified for pickup.
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Ben & Jerry’s Launches Four Non-Dairy Flavors
Ben & Jerry’s in South Burlington Vermont unveils four nondairy ice creams built on vegan almond milk. The lineup includes Chunky Monkey Chocolate Fudge Brownie and two new flavors Coffee Caramel Fudge and PB and Cookies featuring vanilla base, chocolate sandwich cookies, and peanut butter swirls.
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Toyota ends Scion brand as buyers return to Toyota name
Toyota will rebadge 2017 Scion models as Toyotas including the FRS iA and iM variants, ending Scion as a stand‑alone label. Scion’s appeal waned as buyers aged into Toyota brands and millennials favored Toyota’s broader lineup.
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L.A
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