A plant in South Carolina laid off people, and management said tariffs were the cause. According to The Herald:
Beleaguered Fairfield County is losing another 126 jobs after TV-maker Element Electronics said Monday it will close its Winnsboro plant in response to tariffs imposed by President Donald Trump.
BMW recalled 324,000 cars. According to MarketWatch:
BMW is recalling about 324,000 diesel vehicles in Europe related to a potential malfunction in the exhaust gas recirculation module, reports Frankfurter Allgemeine Zeitung, citing the car maker. The malfunction can in rare cases cause fires, BMW said in a statement in its website.
Elon Musk caused wild confusion about Tesla Inc.’s (NASDAQ: TSLA) future as a public company. According to The Wall Street Journal:
Tesla Inc. Chief Executive Elon Musk jolted financial markets on Tuesday with a surprise proposal to take the electric-car maker private in what would be the biggest buyout in history.
About three hours into the trading day, Mr. Musk startled investors by writing on Twitter: “Am considering taking Tesla private at $420. Funding secured.”
Walt Disney Co. (NYSE: DIS) will press further into the streaming media business. According to The Wall Street Journal:
Walt Disney Co. Chief Executive Robert Iger gave investors a preview of what he wants his company’s next chapter to be.
After several years of assuaging investors nervous about cord-cutting and competition from streaming giants such as Netflix Inc., Mr. Iger, on a conference call with Wall Street analysts Tuesday, focused on Disney’s high-stakes plan to fight back: the company’s own direct-to-consumer offerings and a pending $71.3 billion acquisition of 21st Century Fox Inc.’s entertainment assets.
Whole Foods will get further into the grocery pickup business. According to The Wall Street Journal:
Whole Foods is introducing pickup points for online grocery orders, the latest change Amazon.com Inc. is introducing to compete against rival food retailers.
Grocery pickup is the first major new service introduced at Whole Foods stores since Amazon in May began slashing prices that Prime members pay there.
Stores with the service will have reserved parking spots for customers who have placed orders online. Whole Foods clerks will bring goods those customers have ordered directly to their cars.
Papa John’s International Inc.’s (NASDAQ: PZZA) revenue dropped in the most recent quarter. According to The Wall Street Journal:
Papa John’s International Inc. on Tuesday posted its third consecutive quarterly sales decline since founder John Schnatter made remarks last fall that the company said turned away the pizza chain’s customers.
Same-store sales in North America fell 6.1% in the second quarter, Papa John’s said Tuesday. Executives attributed the decline to “recent events” and reiterated that they are reviewing the company’s culture. Shares fell more than 10% to $36.83 in after-hours trading.