Business Competition

The Year in Review: Michael McTague

Michael McTague | |

Looking back, 2021 was another year full of dramatic financial issues with many consequences. We tackled a number of them. Once again, we will take a look at how we did and provide an update.

Keep Your Friends Close, But Your Enemies Closer — Part II

Michael McTague | |

In this second entry in the payback series, we look at actions taken by companies and governments to get back at unfair treatment by others. One of the most dramatic examples is Venezuela not paying back its debts to companies such as Conoco (COP) and to bondholders and preventing outside oil companies from doing business in the nation with the greatest amount of oil reserves worldwide. At first glance, it may appear that Venezuela got away with its efforts to take over...

Keep Your Friends Close, But Your Enemies Closer — Part I

Michael McTague | |

Revenge represents an amazing human activity. In business, kicking opponents when they are down comes with the territory. As Huawei struggles with US government sanctions, Xiaomi steps in to introduce competing products and grab market share. Former Communists learn quickly about the free market economy. No employee at Facebook (FB) asks the giant to go easy on My Space (Private). Remember My Space? No Apple (AAPL) ...

$560 Billion Wiped Off China Stock Markets This Week Amid Regulatory Crackdowns

Reuters | |

China's tech stocks slumped to new lows on Friday and Hong Kong's benchmark index hit an almost 10-month trough, as an unrelenting series of Chinese regulatory crackdowns crushed investors' confidence.

More than $560 billion in market value has been wiped off Hong Kong and mainland China exchanges in a week as funds capitulate out of once-favoured stocks, unsure which sectors regulators will target next.

McDonald's Introduces New Benefits To Attract and Keep Employees in Tight Labor Market

Kimberly Redmond | |

Franchisees of McDonald’s Corporation (NYSE: MCD) across the US plan to roll out several new benefits in a bid to help keep current workers and attract new ones amid the tight labor market.

According to The Wall Street Journal, franchisee-operated restaurants — which account for 95% of McDonald’s nearly 14,000 US locations — will offer backup childcare, higher hourly wages, paid time off and tuition payments.

President Biden To Sign Executive Order Targeting Bank Mergers

Reuters | |

President Joe Biden's planned executive order to promote greater U.S. competition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals, according to a source familiar with the matter.

It will also ask the Consumer Financial Protection Bureau (CFPB) to issue rules giving consumers full control of their financial data to make it easier for customers to switch banks, the source said.

Walmart Removes $35 Minimum Order Requirement for Express Delivery

Kimberly Redmond | |

Walmart announced Monday it will be removing the $35 minimum order requirement to qualify for its two-hour Express delivery service.

The retail giant said the change is effective immediately, but customers will still have to pay a $10 fee on top of the existing delivery charge in order to receive orders within a two-hour window.

Taco Bell Weighs in on Chicken Sandwich Wars With Crispy Taco Version

Kimberly Redmond | |

Taco Bell plans to launch its own version of a chicken sandwich this year, becoming the latest fast-food chain to enter the so-called “chicken sandwich wars.”

On Monday, Yum! Brand’s California-based chain unveiled its Crispy Chicken Sandwich Tacos, which features crispy tortilla chicken and chipotle sauce served in a flatbread. The new item, which costs $2.49 apiece, will begin testing at participating locations in Nashville, Tennessee and Charlotte, North Carolina.

Tesla Cuts Prices of Standard Trim Lines of Model 3 and Model Y Vehicles

Kimberly Redmond | |

Tesla Inc has updated the prices of its two best-selling models, the Model 3 sedan and Model Y sport utility vehicle, in the US.

The electric car maker reduced the base version price of both cars but increase the cost of the high-end versions of the Model 3 and Model Y, Tesla’s website showed.

The price of the Model 3 Standard Range Plus was lowered from $37,990 to $36,990, while the Model Y Standard Range’s price came down to $39,990 from $41,990.

European Union Charges Amazon With Damaging Retail Competition on Its Platform

Reuters | |

The European Union has charged Amazon with damaging retail competition, accusing the U.S. company of using its size, power and data to give it an unfair advantage over smaller merchants that sell on its online platform.

The move on Tuesday by competition chief Margrethe Vestager, the latest European salvo against U.S. tech giants, comes at a time when the COVID-19 pandemic has amplified Amazon’s role in the global economy, with online sales soaring in lockdowns.

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