COMPANY NEWS IN BRIEF
McDonald's targets net zero emissions
McDonald's Corp on Monday set a new target to cut global greenhouse gas emissions to net zero by 2050, from the beef in its burgers to the light bulbs in its restaurants.
The burger chain also said it was working with the non-profit Science Based Targets initiative (SBTi) to revamp its existing climate change targets. It aims to lower absolute emissions by about a third for both its suppliers and its nearly 40 000 company-run and franchised restaurants around the world by 2030.
"We're trying to send a signal to our partners, to our investors, to our suppliers, to other brands in the global community, to policymakers, that we share that vision for 2050," McDonald's Chief Sustainability Officer Jenny McColloch told Reuters in an interview.
United Nations scientists say the world's net emissions must fall to zero by 2050 to limit the rise in global temperatures to no more than 1.5 degrees Celsius versus pre-industrial levels.
Net zero plans require companies to decrease carbon dioxide emissions and offset any remaining emissions using projects that capture the gas. -Nampa/Reuters
Amazon bets on Black Friday deals
Amazon.com Inc on Monday became the latest online retailer hoping to entice consumers to shop early for the holidays, announcing discounts similar to those found on Black Friday.
Amazon joins Target, Pottery Barn, Ulta Beauty and others launching early holiday promotions with hopes that a wider window for shoppers to make purchases will help ease supply chain hiccups that have left some store shelves bare and delayed packages.
The e-commerce company last year launched its annual online deal event Prime Day on October 13, after months-long delays due to pandemic lockdowns.
Amazon's holiday discounts, which range from 15% to 40%, cover the most sought-after gift items including Apple Inc's Beats headphones, Mattel Inc's Barbie dolls and beauty products, the company said. -Nampa/Reuters
GM, Ford to settle legal battle
General Motors Co and Ford Motor Co have agreed to settle a legal battle over the latter's use of the name "BlueCruise" to market its hands-free driving technology.
In a notice filed in court late on Friday, the two automakers said they are in the "process of settling all claims and counterclaims at issue." A judge agreed to dismiss the suit on condition the automakers finalize a settlement within 60 days. No details were released.
A Ford spokesman said the settlement has not been finalized but said the No. 2 US automaker will "continue to use the BlueCruise name, as we do today for F-150 and Mustang Mach-E and next for the 2022 Expedition."
GM said both automakers "have resolved the case and related proceedings amicably. At this time, we have no further comment."
In July, GM and its Cruise robo-taxi subsidiary filed a lawsuit to stop Ford from using the name BlueCruise. GM said in July the automakers had held "protracted discussions" over the matter but failed to resolve it. -Nampa/Reuters
Sun Life to buy DentaQuest
Sun Life Financial said it will acquire US dental benefits provider DentaQuest for US$2.48 billion in its biggest deal in two decades, becoming the latest cashed-up Canadian insurance company pursuing growth outside its home market.
The deal to acquire the United States' second-largest dental benefits provider, with more than 33 million members, will add about US$100 million to its US underlying income in its first full-year after closing, executives at Canada's second-largest life insurer said on an analyst call on Monday. Sun Life announced the deal late on Sunday.
It is the biggest acquisition since Sun Life bought Clarica Life Insurance, from where Chief Executive Kevin Strain joined the company, for C$7.3 billion (US$5.8 billion) in 2002, according to a spokeswoman.
After synergies, expected to be US$60 million, the firm is expected to add 24 Canadian cents to underlying earnings per share and 50 basis points to its return on equity, Canaccord Genuity analyst Scott Chan said, adding the transaction is "expected to support Sun Life's peer-leading ROE metrics."-Nampa/Reuters
Qantas to replace small jets
Qantas Airways is in talks with several platemakers over plans to renew its main narrowbody and regional airliner fleets and is expected to formalise the negotiations with a tender announcement within days, industry sources said.
The Australian carrier is studying the Airbus A220 and Brazilian Embraer's E2 to replace a regional fleet of 20 Boeing 717s and 18 Fokker 100s, they added.
Boeing's 737 MAX 7, the smallest member of its best-selling single-aisle family, is also seen as a contender. In the busiest part of the market, Airbus and Boeing are competing head-to-head as Qantas also seeks to replace Boeing 737-800s, the oldest of which are nearly 20 years old.
The combined moves could lead to staggered purchases of as many as 100 jets including options, the sources said.
In Boston, where airline executives were gathering for an industry meeting, Qantas Chief Executive Alan Joyce declined to comment ahead of a virtual news briefing scheduled for Monday. Platemakers Airbus, Boeing and Embraer also declined to comment. -Nampa/Reuters
McDonald's Corp on Monday set a new target to cut global greenhouse gas emissions to net zero by 2050, from the beef in its burgers to the light bulbs in its restaurants.
The burger chain also said it was working with the non-profit Science Based Targets initiative (SBTi) to revamp its existing climate change targets. It aims to lower absolute emissions by about a third for both its suppliers and its nearly 40 000 company-run and franchised restaurants around the world by 2030.
"We're trying to send a signal to our partners, to our investors, to our suppliers, to other brands in the global community, to policymakers, that we share that vision for 2050," McDonald's Chief Sustainability Officer Jenny McColloch told Reuters in an interview.
United Nations scientists say the world's net emissions must fall to zero by 2050 to limit the rise in global temperatures to no more than 1.5 degrees Celsius versus pre-industrial levels.
Net zero plans require companies to decrease carbon dioxide emissions and offset any remaining emissions using projects that capture the gas. -Nampa/Reuters
Amazon bets on Black Friday deals
Amazon.com Inc on Monday became the latest online retailer hoping to entice consumers to shop early for the holidays, announcing discounts similar to those found on Black Friday.
Amazon joins Target, Pottery Barn, Ulta Beauty and others launching early holiday promotions with hopes that a wider window for shoppers to make purchases will help ease supply chain hiccups that have left some store shelves bare and delayed packages.
The e-commerce company last year launched its annual online deal event Prime Day on October 13, after months-long delays due to pandemic lockdowns.
Amazon's holiday discounts, which range from 15% to 40%, cover the most sought-after gift items including Apple Inc's Beats headphones, Mattel Inc's Barbie dolls and beauty products, the company said. -Nampa/Reuters
GM, Ford to settle legal battle
General Motors Co and Ford Motor Co have agreed to settle a legal battle over the latter's use of the name "BlueCruise" to market its hands-free driving technology.
In a notice filed in court late on Friday, the two automakers said they are in the "process of settling all claims and counterclaims at issue." A judge agreed to dismiss the suit on condition the automakers finalize a settlement within 60 days. No details were released.
A Ford spokesman said the settlement has not been finalized but said the No. 2 US automaker will "continue to use the BlueCruise name, as we do today for F-150 and Mustang Mach-E and next for the 2022 Expedition."
GM said both automakers "have resolved the case and related proceedings amicably. At this time, we have no further comment."
In July, GM and its Cruise robo-taxi subsidiary filed a lawsuit to stop Ford from using the name BlueCruise. GM said in July the automakers had held "protracted discussions" over the matter but failed to resolve it. -Nampa/Reuters
Sun Life to buy DentaQuest
Sun Life Financial said it will acquire US dental benefits provider DentaQuest for US$2.48 billion in its biggest deal in two decades, becoming the latest cashed-up Canadian insurance company pursuing growth outside its home market.
The deal to acquire the United States' second-largest dental benefits provider, with more than 33 million members, will add about US$100 million to its US underlying income in its first full-year after closing, executives at Canada's second-largest life insurer said on an analyst call on Monday. Sun Life announced the deal late on Sunday.
It is the biggest acquisition since Sun Life bought Clarica Life Insurance, from where Chief Executive Kevin Strain joined the company, for C$7.3 billion (US$5.8 billion) in 2002, according to a spokeswoman.
After synergies, expected to be US$60 million, the firm is expected to add 24 Canadian cents to underlying earnings per share and 50 basis points to its return on equity, Canaccord Genuity analyst Scott Chan said, adding the transaction is "expected to support Sun Life's peer-leading ROE metrics."-Nampa/Reuters
Qantas to replace small jets
Qantas Airways is in talks with several platemakers over plans to renew its main narrowbody and regional airliner fleets and is expected to formalise the negotiations with a tender announcement within days, industry sources said.
The Australian carrier is studying the Airbus A220 and Brazilian Embraer's E2 to replace a regional fleet of 20 Boeing 717s and 18 Fokker 100s, they added.
Boeing's 737 MAX 7, the smallest member of its best-selling single-aisle family, is also seen as a contender. In the busiest part of the market, Airbus and Boeing are competing head-to-head as Qantas also seeks to replace Boeing 737-800s, the oldest of which are nearly 20 years old.
The combined moves could lead to staggered purchases of as many as 100 jets including options, the sources said.
In Boston, where airline executives were gathering for an industry meeting, Qantas Chief Executive Alan Joyce declined to comment ahead of a virtual news briefing scheduled for Monday. Platemakers Airbus, Boeing and Embraer also declined to comment. -Nampa/Reuters
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