Macy's to Cut About 2,350 Jobs, Close Five Stores 
 

Macy's plans to lay off about 13% of its corporate staff in a bid to trim costs and redirect spending toward improving customers' shopping experience.

 
EU Commission Intends to Block Amazon's iRobot Acquisition 
 

The European Union's competition watchdog is weighing the tech giant's $1.7 billion bid to purchase Roomba maker iRobot.

 
Wendy's CEO Todd Penegor to Exit, PepsiCo Executive Kirk Tanner Named Successor 
 

The fast-food chain said Penegor, who has served as CEO since 2016 and joined the company a decade ago, will leave in February.

 
Spirit Airlines Explores Restructuring Options Following JetBlue Deal Collapse 
 

Spirit is examining options to address its financial challenges after a federal judge blocked the low-cost carrier's deal to be acquired by JetBlue, according to people familiar with the matter.

 
Peltz Calls for Disney to Target 'Netflix-Like' Streaming Margins 
 

The activist investor's Trian Fund Management is also pressing for clear succession planning and studio improvements.

 
The Multibillion-Dollar Bet That Truckers Will Ditch Diesel for Electricity 
 

Cummins, the leading maker of diesel engines in the U.S., and two truck makers, Daimler and Paccar, are teaming up on a $2 billion factory in Mississippi to make batteries for electric commercial trucks.

 
Drugmakers Raise Prices of Ozempic, Mounjaro and Hundreds of Other Drugs 
 

The list prices of 775 brand-name drugs rose during the first half of January.

 
TSMC Thinks 2024 Will Repower Chip Sales 
 

The world's largest contract chip maker expects revenue to grow over 20% this year-a sign the electronics downturn is finally over.

 
Target Names Finance Chief Fiddelke Chief Operating Officer 
 

Target has designated its top finance executive, Michael Fiddelke, to succeed John Mulligan as the retailer's chief operating officer.

 
Birkenstock's First Earnings as a Public Company Disappoint 
 

Adjusted earnings of 13 euro cents a share fell shy of analysts' projections for 15 euro cents a share.

(END) Dow Jones Newswires

January 18, 2024 19:15 ET (00:15 GMT)