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General Motors Co will double its commitment to spending with Black-owned media to 4% of its ad budget next year with a target of reaching 8% by 2025, the U.S. automaker said on Friday.

GM has come under criticism, including in full-page ads in several national newspapers, from some Black media leaders for not advertising enough in Black-owned media. GM said it will spend 2% of this year's budget in that sector.


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Honeywell International Inc said on Friday sales at its aerospace business would trend at the lower end of its full-year forecast due to a slow recovery in its high-margin commercial aftermarket sales business, sending shares down 3%.

Honeywell, which makes aircraft parts for planes manufactured by Boeing Co and Canada's Bombardier Inc, saw its revenue tumble after the COVID-19 pandemic brought air travel to a standstill.


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American Express Co exceeded quarterly profit estimates on Friday as it released more than $1 billion worth of funds it had set aside to cover potential coronavirus loan losses.

The outlook for card companies is improving as government stimulus and vaccine rollouts fuel an economic recovery, helping the industry recover from a pandemic-driven slump in non-essential consumer spending last year.


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In its biggest acquisition in a decade, Panasonic Corp on Friday said it will buy U.S. supply-chain software company Blue Yonder in a deal worth $7.1 billion, to tap growing demand from companies as the COVID pandemic tests their resilience to disruption.

Panasonic, which bought a 20% stake in Blue Yonder for 86 billion yen ($797 million) last year, will acquire the rest of the stock from shareholders including Blackstone Group Inc and New Mountain Capital, in an agreement, including debt, that values Blue Yonder at $8.5 billion, the company said in a press release.


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Mercedes-Benz car maker Daimler AG on Friday raised its profit outlook for 2021, but said the global semiconductor chip shortage may continue to impact sales in the second quarter.

Daimler said it assumed there would be some recovery in chip availability in the second half of this year but there was limited visibility at present.


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Bain Capital is looking at formulating a bid to acquire Toshiba Corp, two people familiar with the matter said, making it one of several firms said to be interested in taking the Japanese conglomerate private.

The U.S. firm has entered into discussions with Japanese banks including the core units of Mizuho Financial Group Inc and Sumitomo Mitsui Financial Group Inc to secure funding, one of the people said.


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Facebook Inc's Instagram is rolling out a feature to prevent users from viewing possibly abusive messages by filtering offensive words, phrases and emojis on the photo-sharing app.

The company said on Wednesday that along with the filter option for abusive direct messages, it will also make it harder for people blocked by users to circumvent and contact them through new accounts.


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Taiwan electronics manufacturer Foxconn is drastically scaling back a planned $10 billion factory in Wisconsin, confirming its retreat from a project that former U.S. President Donald Trump once called “the eighth wonder of the world.”

Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will reduce its planned investment to $672 million from $10 billion and cut the number of new jobs to 1,454 from 13,000.


AP News | Equities.com |

Chinese food delivery giant Meituan raised nearly $10 billion in a sale of convertible bonds and additional shares and plans to invest those funds in developing and expanding delivery technologies.

The Beijing-based firm, China’s largest food delivery platform, said in a filing to the Hong Kong stock exchange that it sold 187 million additional shares in a top-up placement at 273.80 Hong Kong dollars each, raising about $6.6 billion.


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Netflix Inc said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter, sending shares of the world's largest streaming service down 11% on Tuesday.

Roughly 3.98 million people signed up for Netflix from January through March, below the 6.25 million average projection of analysts surveyed by Refinitiv.