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Mercedes-Benz on Thursday said it will add a new vehicle to its plant in Alabama amid President Donald Trump’s auto tariff.
The German automaker said it will localize production of the “core segment” vehicle at its plant near Tuscaloosa by 2027.
Mercedes-Benz declined to comment on whether the new vehicle in Alabama was a result of Trump’s tariffs.

An employee installs parts on the undercarriage of a Mercedes-Benz GLS-Class SUV at the Mercedes-Benz US International factory in Vance, Alabama on June 8, 2017. 
Andrew Caballero-Reynolds | AFP | Getty Images

Mercedes-Benz on Thursday said it will add a new vehicle to its plant in Alabama amid President Donald Trump’s auto tariffs.
The German automaker said it will localize production of the “core segment” vehicle at its plant near Tuscaloosa by 2027. Officials declined to disclose details of the vehicle, but the plant mostly produces Mercedes-Benz SUVs.

“We are getting even closer to the U.S. customer by localizing a core segment model in Tuscaloosa, strengthening our ties to the North American market where a range of Mercedes-Benz vehicles including the GLE and GLS models have their roots,” Mercedes-Benz North America CEO Jason Hoff said in a release.
A spokesperson for Mercedes-Benz declined to comment on whether the new vehicle in Alabama was a result of Trump’s tariffs, citing a “local-for-local strategy” of producing vehicles where it sells them.
The automaker said the Alabama plant has established itself as “the global export hub for Mercedes-Benz SUVs.” The company said roughly 60% of SUVs assembled at the plant are exported.
The announcement comes amid Trump’s ongoing 25% auto tariffs on imported vehicles, as well as additional levies of 25% on automotive parts that are scheduled to go into effect by Saturday. More

Here is your AI recap of the monthly sales-team meeting held at 14:00 on May 1st 2025. There were ten attendees at the meeting, and 45 questions were asked. A total of 18 action items were detected. Main themes: sales results; sales pipelines; Optimate launch; “The Accountant 2”. More

HOWEVER YOU do it, booking holidays can be a hassle. It used to mean a visit to a travel agent. Online firms at least let you set up trips yourself, in your pajamas. Now they are promising to do the brainwork too, via artificial intelligence. Expedia has trialled Romie, its “AI-powered travel buddy”, Trip.com has brought out TripGenie and Booking.com has introduced the more prosaically named AI Trip Planner. More

The latest episode of “60 Minutes”, broadcast on CBS on April 27th, began with items on medical-research funding, Islamist terrorism and Japan’s population crisis. But its biggest story was delivered in the final 60 seconds. “Our parent company, Paramount, is trying to complete a merger,” the correspondent, Scott Pelley, explained to the show’s 7m or so viewers. “The Trump administration must approve it. Paramount began to supervise our content in new ways.” More

ALL QUIET on the western waterfront. And the eastern one, too. Across littoral America, stevedores are twiddling their thumbs. They have President Donald Trump to thank for this unexpected breather. It is the foreseeable consequence of his unprovoked trade world war. Eastbound shipments from China, his biggest target and source of 40% of America’s seaborne imports, are being cancelled. Some importers are switching to suppliers in places granted reprieve from his “reciprocal” tariffs. Many are just waiting out the storm. On April 29th the boss of the Port of Los Angeles, America’s biggest, predicted that imports at the facility would fall by at least 10% in the second half of 2025. More

CVS Health said it will significantly expand access to the blockbuster weight loss drug Wegovy for patients covered by its pharmacy benefit manager, Caremark.
Under a new partnership between Caremark and Wegovy’s manufacturer, Novo Nordisk, CVS will make the drug available to its members at “a more affordable price.”
Starting July 1, Caremark will prioritize Wegovy on its formularies — or lists of covered drugs — making it the preferred GLP-1 drug for obesity.

The “Wegovy” brand slimming syringe is sold in the Achat pharmacy in Mitte. The “Wegovy” slimming syringe has been available in Germany for a year.
Jens Kalaene | Picture Alliance | Getty Images

CVS Health on Thursday said it will significantly expand access to the blockbuster weight loss drug Wegovy for patients covered by its pharmacy benefit manager, Caremark. 
Starting July 1, Caremark will prioritize Wegovy on its formularies — or lists of covered drugs — making it the preferred GLP-1 drug for obesity. The move is part of a new partnership between Caremark and Wegovy’s manufacturer, Novo Nordisk, according to CVS’ first-quarter earnings release.

Shares of Novo Nordisk rose more than 3% on Thursday after the announcement, while Eli Lilly’s stock fell 5%.
It comes as Novo Nordisk works to boost access to Wegovy now that it is no longer in short supply in the U.S. Partnering with Caremark, one of the nation’s largest pharmacy benefit managers, could help the drugmaker reach even more patients.
Caremark discounts drugs with manufacturers on behalf of insurance plans and creates lists of medications, or formularies, that are covered by insurance and reimburses pharmacies for prescriptions.
Caremark will make the drug available to its members at “a more affordable price.” The PBM negotiated a lower net price for Wegovy over its rival, Eli Lilly’s weight loss drug Zepbound, on its main formularies, offering savings to clients that opt into those plans, a CVS spokesperson told CNBC.
But Caremark’s clients, which are employers and unions, “individually determine how much of that savings on Wegovy gets shared with its members either via lower premiums or lower copays at the pharmacy counter,” the spokesperson said. 

Separately, any patient who does not have insurance coverage for Wegovy or another GLP-1 can still buy Novo Nordisk’s drug out-of-pocket for $499 at any of CVS’ 9,000 pharmacies nationwide, the spokesperson added. 
In its earnings release, CVS said it is the first retail pharmacy partnering with Novo Nordisk’s new direct-to-consumer online pharmacy, NovoCare, to dispense Wegovy to patients with prescriptions. NovoCare offers Wegovy at that lower price point to cash-paying patients, who may struggle to shoulder the drug’s roughly $1,000 list price before insurance and other rebates.
Caremark will also combine Wegovy with additional lifestyle support, such as personalized nutrition plans, as part of the CVS Weight Management program.
The announcement comes as the Danish drugmaker races to capture more patients now that many compounding pharmacies are legally restricted from making cheaper, unapproved versions of Wegovy, with rare exceptions.
Dave Moore, Novo Nordisk’s executive vice president of U.S. operations, said in a separate release that “it is our responsibility to continue to work with others across the US healthcare system to find innovative opportunities to meet the needs of these patients and connect them with authentic, FDA-approved Wegovy … in a convenient and affordable way.” More

McDonald’s U.S. same-store sales shrank 3.6% during the first quarter as the chain faced bad weather and a more cautious consumer.
That drop is the worst in McDonald’s home market since the 8.7% plunge during the second quarter of 2020.
McDonald’s narrowly beat on earnings per share, but fell short on revenue.

The logo of McDonald’s (MCD) is seen in Los Angeles, California.
Lucy Nicholson | Reuters

McDonald’s on Thursday reported mixed quarterly results as its U.S. same-store sales fell for the second straight quarter, posting their largest domestic decline since the onset of the Covid pandemic.
McDonald’s U.S. same-store sales shrank 3.6% as the chain faced bad weather and a more cautious consumer. That drop is the worst in McDonald’s home market since the 8.7% plunge during the second quarter of 2020, when states imposed lockdowns to slow the spread of Covid.

Analysts surveyed by StreetAccount were expecting the company to report domestic same-store sales declines of 1.7% for the first quarter.
“In the U.S., overall [quick-service restaurant] industry traffic from the low-income consumer cohort was down nearly double digits versus the prior year quarter,” CEO Chris Kempczinski said on the company’s conference call. “Unlike a few months ago, QSR traffic from middle-income consumers fell nearly as much, a clear indication that the economic pressure on traffic has broadened.”
Across all of its markets, McDonald’s same-store sales fell 1% during the quarter, hurt by comparisons to last year’s Leap Day, the company said.
Shares of the company roughly 2% in premarket trading.
Here’s what the company reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: $2.67 adjusted vs. $2.66 expected
Revenue: $5.96 billion vs. $6.09 billion expected

The fast-food giant reported first-quarter net income of $1.87 billion, or $2.60 per share, down from $1.93 billion, or $2.66 per share, a year earlier.
Excluding restructuring charges and other items, McDonald’s earned $2.67 per share.
Net sales dropped 3% to $5.96 billion.
Back in February, CFO Ian Borden said he expected the first quarter to be the low point for McDonald’s same-store sales, in part due to a weak start to the year in the U.S. Since then, President Donald Trump has introduced broad tariffs, heightening pricing concerns for some consumers.
For its part, McDonald’s has already said that it plans to lean into value meals and buzzy menu items, like the return of its snack wraps, to bring diners back to its restaurants this year.
Outside the U.S., McDonald’s saw same-store sales fall 1% in its international operated markets, which include Australia and France. The segment includes McDonald’s largest international markets and accounts for roughly half of its revenue. Analysts had projected flat same-store sales in the segment for the quarter.
“In most of our major markets, we’re seeing a similar story in regards to the challenging industry environment and softening consumer sentiment,” Borden said on the company’s earnings call.
The company’s international developmental licensed markets division reported same-store sales growth of 3.5%, narrowly beating analyst estimates of 3.2%. That segment includes Japan, China and Brazil.
McDonald’s on Thursday reiterated its full-year outlook, including plans to open 2,200 locations and to spend between $3 billion and $3.2 billion on capital expenditures, the company said in a regulatory filing. The company is projecting that net restaurant openings will boost its system-wide sales growth by slightly more than 2%.
This story is developing. Please check back for updates.
— CNBC’s Robert Hum contributed to this report. More

Walmart heir Lukas Walton’s Builders Vision tackles environmental challenges through philanthropy and impact investing.
Walton has named Noelle Laing as the new chief investment officer for his family office.
Laing, who previously managed the firm’s $1.7 billion philanthropy arm, is part of a growing cohort of women money managers for the ultra-rich.

Noelle Laing, chief investment officer of Builders Vision.
Courtesy of Builders Vision

A version of this article appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Builders Vision, the family office of billionaire Walmart heir Lukas Walton, has promoted Noelle Laing to chief investment officer.

The Chicago-based firm uses philanthropy and impact investing to address three global challenges: clean energy, food sustainability and ocean health.
Laing started working with Walton 12 years ago when he was a client at Cambridge Associates, where she managed impact investments. She joined Builders Vision in 2019 and has served as CIO of the firm’s philanthropy arm, Builders Initiative, since 2022.
In that capacity, Laing shifted 90% of the $1.7 billion endowment to “mission-aligned investments” that advance social and environmental causes and led a team that invested more than $300 million in early-stage startups and fund managers.
In her new role across the full family office, Laing will also oversee some family trusts and the firm’s asset management arm. A spokesperson told CNBC that Builders Asset Management has a multibillion-dollar taxable portfolio but declined to specify its size.
“Noelle has been instrumental in the success of our investment strategies and is the perfect person for the job,” said Walton in an announcement. “Through increased coordination and shared vision, we can be even more effective at pursuing these goals across our sectors.”

Laing is consolidating the two divisions’ investment teams and will oversee about 20 investors. She plans to make about a half dozen hires, bringing the team’s headcount to nearly 30.
Builders Vision represents a growing class of family offices with assets and headcounts that rival those of institutional investors. Laing told CNBC that this scale allows Builders Vision to tackle its core causes in a wide range of ways spanning nonprofit grants, small bets on startups that are piloting new technology and multimillion-dollar co-investments and allocations to fund managers.
“It’s a spectrum of investments, and it allows us to really get a deep view of the different ways that we can get exposure and move oceans, food and agriculture and energy into the future,” she said. “We can choose which tool in which portfolio to see that vision through.”
Builders Vision recently backed Norway’s Bluefront Equity, a sustainable seafood fund. In November, the firm co-guaranteed $70 million of debt held by the Bahamas, allowing the government to borrow at a lower cost and allocate the savings to marine conservation.

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Laing started her career at Cambridge Associates in 2003, leaving in 2008 to work at the Red Cross and a pension fund. She returned to the investment advisory in 2010.
Laing is part of a small but growing group of women managing investments for the ultra-rich including Erin Harkless Moore of Melinda French Gates’ Pivotal Ventures and Margo Doyle of S-Cubed Capital, the family office of billionaire venture capitalist Mark Stevens. Rebecca Carland, now CIO of the Knight Foundation, served as CIO of Builders Asset Management until late last year.
All four women are also alumna of Cambridge Associates, the top advisor to wealthy families, endowments and foundations with some 300 senior investment staff. David Jallits, another Cambridge Associates veteran, oversees investments for Chicago’s Duchossois family.
“You have so many resources and so many people’s different opinions, which is such a big part of the magic of Cambridge,” Laing said. “It’s a great training ground for a place like Builders Vision where you can focus and then implement kind of the best ideas from from Cambridge.”
Correction: This story has been updated to remove an incorrect detail surrounding Noelle Laing’s work while at Cambridge Associates. More