Japanese automaker Honda will invest 4.2 billion reais ($807.74 million) in its Itirapina plant in Brazil by 2030, an executive said on Friday, adding the company aims to develop a hybrid-flex vehicle in the South American country. Honda's announcement is the latest in a series of fresh investments by automakers such as Volkswagen, General Motors, Stellantis and Toyota in Brazil. According to Brazil's government, investments pledged by automakers in the country for the coming years already total nearly 130 billion reais.
Netflix was a case in point: The company has added more than 31 million subscribers over the past three quarters since it started its crackdown on freeloaders. But now Netflix doesn't want investors to pay attention to its subscriber data anymore. Netflix has been trying to get investors to focus less on subscriber growth for a while now—and not without some justification, writes Heard on the Street columnist Dan Gallagher. It is also—according to Netflix—a better way to measure the performance of its business.
Tesla is slashing its workforce. The electric-vehicle maker plans to cut more than 10% of its staff globally, The Wall Street Journal reported on Monday. Two top executives also said on Monday that they were leaving the company.