Ryder System, Inc. engages in the provision of transportation and supply chain management solutions. It operates through the following segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), Dedicated Transportation Solutions (DTS), and Central Support Services (CSS). The FMS segment offers full service leasing and leasing with flexible maintenance options, commercial rental, and contract or transactional maintenance services of trucks, tractors, and trailers. The SCS segment focuses on the provision of integrated logistics solutions, including distribution, management, dedicated transportation, and professional services. The DTS segment includes turnkey transportation solutions. The company was founded by James A. Ryder in 1933 and is headquartered in Miami, FL.
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Swiss government faces challenges in funding 13th AHV pension proposal
The Swiss Federal Council has opted for a VAT increase to finance the 13th AHV pension, rejecting a mixed funding proposal that included higher employee contributions. This decision, influenced by a right-wing majority, faces challenges in Parliament and may lead to further discussions on pension reforms by 2026. A center-left alliance is pushing for a re-evaluation of the mixed financing solution, which could impact future pension funding strategies.
McDonald's invests over 100 million for recovery after E coli outbreak
McDonald's is investing over $100 million to recover from an E. coli outbreak linked to its slivered onions, with $65 million aimed at supporting affected franchisees and $35 million for marketing initiatives. The company has resumed serving Quarter Pounders nationwide and reports no ongoing food safety concerns. The CDC has confirmed 104 cases, 37 hospitalizations, and one death across 14 states related to the outbreak.
home depot bets on pro business with 18.25 billion dollar acquisition
Home Depot's $18.25 billion acquisition of SRS Distribution aims to enhance its pro business, which now accounts for a significant portion of its sales. The deal is expected to boost growth amid a challenging market, as Home Depot seeks to leverage SRS's specialized offerings and logistics network to cater to professional contractors. Despite current economic pressures, the acquisition is seen as a strategic move to expand into a $1 trillion market.
India's economy poised for 7.2 percent growth in 2024 according to Moody's
Moody’s Ratings forecasts a robust 7.2% growth for the Indian economy in 2024, driven by a rebound in household consumption and moderating inflation. The firm projects growth rates of 6.6% in 2025 and 6.5% in 2026, highlighting India's favorable macroeconomic position.
Moody’s Ratings projects India’s economy to grow at 7.2% in 2024, down from 7.7% in 2023, while inflation moderates. The agency highlights strong economic indicators, including expanding manufacturing and services, robust credit growth, and consumer optimism, signaling steady momentum.
ben and jerrys sues unilever over silencing stance on gaza conflict
Ben & Jerry's has filed a lawsuit against parent company Unilever, claiming it has been silenced over its support for Palestinian refugees and threatened with board dismantlement. The ice cream brand alleges Unilever breached a 2022 settlement by blocking its attempts to advocate for peace and human rights, while Unilever disputes these claims and emphasizes its commitment to all victims of the ongoing conflict. The tensions between the two companies have escalated since Ben & Jerry's decision to stop selling in the Israeli-occupied West Bank in 2021.
s and p 500 futures remain flat as market shows signs of weakness
S&P 500 futures are flat as the market heads for a losing week, following a decline in major indexes after Federal Reserve Chairman Jerome Powell indicated no rush to cut interest rates. Applied Materials fell over 5% due to weak revenue guidance, while Domino’s Pizza surged more than 7% after Berkshire Hathaway's investment. Investors are awaiting key economic data on retail sales and industrial production, with Alibaba set to report earnings on Friday.
moody's lowers mexico's credit outlook amid constitutional changes and fiscal challenges
Moody’s Ratings has downgraded Mexico’s credit outlook from stable to negative, citing concerns that recent constitutional changes could harm the economy. The agency maintained Mexico’s rating at Baa2, two notches above junk, while highlighting challenges in fiscal consolidation due to worsening debt affordability and a projected wider deficit in 2024.
berkshire hathaway invests in dominos pizza and pool corp shares
Berkshire Hathaway Inc. has acquired approximately 1.3 million shares in Domino’s Pizza, representing a 3.6% stake valued at around $550 million, as Chairman Warren Buffett reduced some long-held investments. The stock of both Domino’s and Pool Corp. surged in late New York trading following the announcement.
Berkshire Hathaway invests in Domino's Pizza and Pool Corp while selling Ulta
Warren Buffett's Berkshire Hathaway acquired over 1.2 million shares of Domino's Pizza, valued at approximately $550 million, while also taking a small stake in Pool Corp worth $152 million. The investment in Domino's follows disappointing sales growth, with shares rising over 8% post-announcement. Conversely, Berkshire nearly sold off its stake in Ulta, reducing its holdings by 97% after a lackluster performance.
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