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- Party City Faces a Second Bankruptcy | GM Parks Cruise Robotaxi | Ad Spend Breaks the $1 Trillion Barrier
Party City Faces a Second Bankruptcy | GM Parks Cruise Robotaxi | Ad Spend Breaks the $1 Trillion Barrier
Mohammad Solaiman
December 12, 2024
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Good Morning, today is Thursday, Dec 12
Your daily dose to keep you razor-sharp and informed. Here is what's unfolding in the business world today:
Table of Contents
Party City Faces a Second Bankruptcy Balloon
Party City, the household name for celebration supplies, is said to again be on the verge of bankruptcy. The company exited its 2023 restructuring with less debt and fewer stores, but headwinds such as helium shortages and big-box retail competitors remain.
The pandemic's lasting effect on large gatherings did not help matters either. Management, while seeking ways to stabilize the company, also brings high stakes in today's retail landscape with this possible second filing.
GM Parks Cruise Robotaxi Ambitions
It marks the end of an era with General Motors pulling the plug on an ambitious Cruise robotaxi that has been a symbol, in greater ways, of what the transport systems ought to be, citing increases in financial pressure and tightening up intense competition in the autonomous automotive market. Efforts in recent times have shifted to electric vehicles and driver-assistance technology at GM. It is a smart pivot for Wall Street, as that is viewed as strengthening the GM focus on core markets, some analysts say.
Ashtead to Relist on New York Exchange
Ashtead Group, a leading construction equipment rental company, is switching its principal stock listing to New York from London. Most of its revenue comes from the U.S., which, therefore, has become a more logical home for the business.
The move has raised fresh questions about the decline in London's allure as a financial center, but the shift is about aligning business to market realities for Ashtead.
Ad Spend Breaks the $1 Trillion Barrier
In a major milestone, global ad spending will exceed $1 trillion in 2024, according to GroupM, driven by rapid growth from tech giants such as Google and Amazon, as well as rising investments in emerging markets.
The digital-first era is continuing to outpace traditional media, underscoring the need for agility in marketing strategies.
De Beers Doubles Down on Lab-Grown Diamonds ✨
Change is in the air within the diamond industry, as times continue to modernize De Beers starts to look towards a more synthetic production method, in turn continuing its investing within this niche of lab diamonds. It invests in its research arm called Element Six through which cash is earned as it sees lab-made options for stones shine brighter into prominence-claiming the niche as being relatively inexpensive and a far more ecological substitute to a naturally grown diamond.
This strategic pivot better positions De Beers for a wider and more technology-driven market. The.
Stay tuned for more updates tomorrow! Got a question or thought on today’s stories? We’d love to hear from you. Here's to staying informed.
Your Fridayowl Team
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