Here’s what we have for you today:
• Purposeful expense
• Federal Reserve’s view
• Slimming down
General Motor’s useful expenditure
Cost saving: GM CEO Mary Barra noted that through a series of significant partnership deals GM was able to save $400 million.
The collaboration: Mary stated “I think one of the things our industry could do is partner more. We’ve done partnership deals with Ford in the past, we partner on many things with Honda. I think our industry could be even more efficient.”
Material alteration: In correlation to profitability, Mary stated “…rely on continuing to improve battery chemistry and getting cost out of the battery because that’s where the cost opportunity is…”
US Federal Reserve on inflation
Oil on fire: Researchers from the US central bank warned that a historic surge in the percentage of distressed American companies could get worse since high borrowing costs could cause a large number of companies to crumble.
Prescribing situation: As stated recently, the authors of the central bank said about 37% of firms are in trouble.
As expected: US Federal Reserve Chair Jerome Powell and his colleagues have signaled they could raise rates a couple more times in the months ahead in 2023.
Walgreens on subtraction
The drop: Walgreens mentioned it plans to close 150 locations in the United States in 2023.
The statement: According to Walgreens CEO Rosalind Brewer “We have seen changing market trends that have consumers prioritizing value in response to a more uncertain and challenging economic environment.”
End goal: The company wants to trim another $800 million from its balance sheet, bringing its target savings in 2023 to $4.1 billion from its previous goal of $3.5 billion.
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