Automotive News
Toyota is investing billions in gasoline-electric hybrids and fuel-cell vehicles, but record profits are coming from the U.S., which loves big vehicles. There has been a 9% growth in industry-wide light truck sales in the first half of the year. Toyota outperformed the overall U.S. market with the new the Highlander and Tundra pickup.
Burger Business
McDonald's spends between $10 million and $25 million to be a World Cup sponsor every year. Yes, it is one of the best global events for brands, but because of the success of this year's World Cup, for which McDonald's focused on french fries, people were at home, at bars or a Buffalo Wild Wings cheering throughout June. Not at McDonald's. Same-store sales for McDonald's, which saw a 1.5% decline in Q2.
USA Today
J.D. Power and Associates says Millennials, those born between 1977 and 1994, now account for 26% of new-car sales, a larger percentage of U.S. new-vehicle retail sales than Gen Xers, who accounted for 24% of that pie in the first half of the year, per J.D. Power's Power Information Network. Boomers are still the majority, accounting for 38% of new vehicles sold during the first half of the year.
Cincinnati Enquirer
Since returning as Procter & Gamble's chief executive officer in May 2013, A.G. Lafley has kept a low public profile. But on Friday as Lafley he opened the fourth-quarter earnings call with a statement that it's not good enough. "So that we're crystal clear, we delivered our business and financial commitments in 2013-14. But we could have - and should have - done better," he said.
Boston Globe
RadioShack is running out of money. The company operates 4,000 stores, but only has $62 million. The company may be broke early next year. Officials say they need to close roughly one of every five stores-a total 1,100 locations altogether-and the chain doesn't even have the money to do that.
Nation's Restaurant News
The monthly Restaurant Performance Index by the National Restaurant Association, a monthly index on health of and outlook for the U.S. restaurant industry, stood at 101.3 in June, falling from 102.1 in May and the first decline in four months. Still, June marked the 16th consecutive month with a score above 100.
VentureBeat
Microsoft has launched an update to Office for iPad, to make its mobile productivity suite more like the desktop version. Updates aside, it shows Microsoft trumps Apple in its own App Store. In direct competition with Apple’s productivity apps, Microsoft holds the number one spot in that software category in the U.S., and ranks at number 11 among top apps overall, per app tracking service App Annie. Apple’s Pages, by comparison, ranks number seven in productivity and barely ranks within the top 250 apps overall.
Detroit Bureau
Scion will likely abandon its boxy xB model as part of a product line shake-up designed to reinvigorate Toyota Motor Co.’s youth-oriented brand. The xB is one of several models that reportedly will go away, according to various reports, while the Japanese brand will get several new models, including a version of the Auris sold in Europe and other parts of the world under the Toyota badge.
Consumerist
T-Mobile USA’s parent company Deutsch Telekom is getting offers for its T-Mobile service from French communications company Iliad, which has offered $15 billion for the company. The offer is nearly $10 billion less than T-Mobile’s current market value. And the Iliad offer is only half the size of the reported $30 billion deal that Sprint has been trying to hammer out with Deutsche Telekom for months.
Businessweek
The World Cup final was all about the three stripes, with the Germans and the Argentines wearing Adidas jerseys and kicking an Adidas ball. The expensive soccer sponsorships may have forced Adidas to lower profit expectations for the year. Adidas said it will miss its profit forecast by 180 million Euros ($241 million). Net income at Adidas this year will be about €650 million, which would be a 17% drop from 2013.