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Ford will stop selling most sedans in the U.S. to cut an extra $11.5B in costs. The carmaker says that by 2020 nearly 90% of its North American inventory will be pickup trucks, SUVs and commercial vehicles, in line with consumer preferences.
Comcast and 21st Century Fox are fighting over Sky after Comcast made a $31B counter offer for the British pay-TV broadcaster. Fox already owns 39% of Sky and made an offer late last year for the remaining 61%; Sky says it will withdraw its recommendation for Fox’s bid.
Facebook had a strong first quarter despite its privacy scandal. The social media giant saw a 63% jump in profit and a 49% increase in revenue; it also added 70 million monthly users.
“They’re not going to become the bright shiny object that they were… but they’re good enough.” Brian Wieser, Pivotal Research analyst, after Twitter posted its second consecutive quarterly profit.
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