Elon Musk's Latest 'Twitter Files' Show Internal Angst Over FBI Requests, L3Harris Scoops Up Aerojet, Mesa Air End Regional Flights For American Airlines: Today's Top Stories

Benzinga

Elon Musk Drops Latest Supplement To 'Twitter Files' Showing Internal Angst Over FBI Requests

  • Elon Musk has shared the latest supplement of the so-called "Twitter Files" with his followers on the platform.
  • The Twitter CEO said, "Elvis is in the building," while retweeting the supplement shared by journalist Matt Taibbi on Sunday.
  • Elvis is a reference to U.S. Federal Bureau of Investigation agent Elvis Chan. The official interacted with Twitter's former head of trust and safety, Yoel Roth.

L3Harris Technologies Acquires Aerojet Rocketdyne For $4.7B

  • L3Harris Technologies Inc LHX has agreed to acquire Aerojet Rocketdyne Holdings Inc AJRD for $58 per share in an all-cash transaction valued at $4.7 billion, including debt.
  • The deal marks L3Harris' second acquisition announcement of 2022.

Jim Farley Spells Out No. 1 Priority For Ford — No, It's Not Electric Vehicles

  • Ford Motor Company F CEO Jim Farley reportedly delved into his first priority at the company in a recent meeting with retired engineers.
  • Fixing quality is Farley's top priority, the Ford CEO said in a speech with the 'Ford Retired Engineering Executives' group.
  • "It is the most important initiative in the whole company. And it's going to take several years. We didn't lose it in just one or two years," Farley said, adding, "Until we fix quality, nothing else matters."

US Watchdog Nudges Amazon Over Laxity In Recording Workhouse Injuries

  • The U.S. Department of Labor called out Amazon.Com, Inc during inspections at six warehouse facilities in five states for failing to record work-related injuries and illnesses precisely. 
  • The findings are part of an ongoing investigation. Amazon faced $29,008 in proposed penalties.

A Week After Morgan Stanley Layoffs, Goldman Sachs Axes 4,000 Jobs

  • Goldman Sachs Group Inc GS plans to lay off around 4,000 employees as it struggles to navigate a difficult economic environment, though no final list has been drawn up.
  • As per Semafor, managers have been asked to identify low performers.
  • In a typical year, 2%-5% of Goldman lays off or receives no bonus — "zeroed out" in industry parlance.

 

Reuters

Mesa Air To End Regional Flights For American Airlines, Finalizing New Deal With United

  • The CEO of regional airline Mesa Air Group Inc MESA announced an agreement to operate regional carriers for United Airlines Holdings Inc UAL
  • In a company memo, Mesa Air CEO Jonathan Ornstein said that the Arizona-based carrier is "finalizing a new agreement with United Airlines which would transition all CRJ900s currently flying for American Eagle to United Express."

Intel's German Ambitions Hits Roadblock Halted Plant Plans Pending Subsidies

  • Intel Corp INTC retreated from its initial plans of opening a chip factory in the eastern German city of Magdeburg in the first half of 2023.
  • Intel sought more public subsidies.
  • The plant is pivotal to the German and European Union's plans to boost resilience via domestic manufacturing post-pandemic and Russia's invasion of Ukraine hampered supply chains.

Apple Supplier To Reportedly Face Hefty Taiwan Fine Soon For China Chip Investment Despite Pullout

  • Apple Inc AAPL supplier Hon Hai Precision Manufacturing Company Limited HNHPF, popularly known as Foxconn, will reportedly soon be fined by Taiwanese authorities for an unauthorized investment in a Chinese chip maker.
  • Foxconn, a major iPhone maker, said it would sell its stake in embattled Chinese chip conglomerate Tsinghua Unigroup after disclosing the investment in July.

LG Energy Solution Plans $3.1B Investment In South Korea Battery Facility

  • LG Energy Solution Ltd is planning to invest 4 trillion won ($3.1 billion) from this year through 2026 for a battery facility.
  • The battery facility will produce batteries for electric vehicles and other goods.
  • The production facility, located in Ochang, South Korea, will also have a Research and Development center and is expected to provide 1,800 jobs.

 

Wall Street Journal

In Efforts To Save Costs, Krispy Kreme Plans To Automate Around 18% Of Its Doughnut Production

  • Just a year and a half after its return to the public markets, Krispy Kreme Inc DNUT has reportedly begun testing new technology that would cut back on repetitive labor and expects to automate about 18% of its total doughnut production over the next 18 months.
  • The company expects the investment of so far $6 million to produce $2 million in annual savings. 

TuSimple Plans To Cut Half Its Workforce

  • TuSimple Holdings Inc TSP reportedly plans to slash at least half of its workforce next week.
  • The company scales back its measure to build and test autonomous truck-driving systems.
  • The proposed jobs cut is expected to affect about 700 employees.

Toyota CEO Reserves Doubts Over Solely Zeroing On EV As Industry Remains Largely Tightlipped

  • During a Thailand visit, Toyota Motor Corp TM President Akio Toyoda said he is among the auto industry's silent majority questioning the exclusive pursuit of electric vehicles.
  • Toyoda saw hybrids as a crucial alternative against costlier EVs with inadequate charging infrastructure.
  • Toyoda also talked about developing zero-emission vehicles powered by hydrogen.
  • Pending clarity, Toyoda found it imprudent to stick to just one option.

Ford Settled Several Truck-Rollover Lawsuits Before $1.7B Verdict, Expects To Argue Favoring Super Duty Trucks

  • Ford Motor Company will argue for a new trial in the Georgia truck rollover lawsuit that resulted in a $1.7 billion jury verdict.
  • The case involves the roof strength of older-model Super Duty pickups.
  • Some twenty years back, Ford settled several similar lawsuits alleging that people were killed or seriously injured in heavy-duty truck rollovers in which the roof collapsed.

 

Bloomberg

Germany Union Urges Amazon's Warehouse Employees To Stage Protest Against Pay

  • German labor union Verdi urged Amazon.com Inc AMZN warehouse workers to protest across the country during the holiday season, to press the company for higher pay, and to join collective bargaining agreements.
  • Amazon faced increased tension with workers, including complaints of unfair labor practices, employee activism, and union drives at some facilities.
  • There will be walkouts in a total of ten fulfillment centers of Amazon.

Meta Loses Crucial Metaverse Pioneer Over Creative Disagreement With Mark Zuckerberg

  • John Carmack gave up his position at Meta Platforms Inc's META virtual reality unit over frustration with its slow progress and strategy clash with founder Mark Zuckerberg.
  • The games industry veteran said in his resignation note that he never felt adequately able to influence Meta's VR endeavor in the right direction.
  • Carmack, 52, joined VR developer Oculus in 2013 before Meta acquired it in 2014.
  • Carmack started at Oculus as chief technology officer, where he most recently was an executive consultant for VR at Meta.

Photo: Ljupco Smokovski by Shutterstock and Wikimedia Commons

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