Business news briefs, March 27: GM picks Michigan plant for new electric vehicle – News – Akron Beacon Journal

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AUTOS

GM to build electric vehicle

at factory outside Detroit

General Motors on Tuesday announced plans to add 400 jobs and build a new electric vehicle at a factory north of Detroit.

The company says it will spend $300 million at its plant in Orion Township, Mich., to manufacture a Chevrolet vehicle based on the battery-powered Bolt.

GM wouldn’t say when the new workers will start or when the new vehicle will go on sale, nor would it say if the workers will be new hires or come from a pool of laid-off workers from the planned closings of four U.S. factories by January.

The moves come after last week’s string of venomous tweets by President Donald Trump condemning GM for shutting its small-car factory in Lordstown, Ohio.

FAST FOOD

McDonald’s buys tech firm

to boost its digital growth

McDonald’s, in its largest acquisition in 20 years, is buying a decision-logic technology company to better personalize menus in its digital push.

The world’s biggest restaurant chain is spending more than $300 million on Dynamic Yield, according to a person familiar with the matter. With the new technology, McDonald’s restaurants can vary their electronic menu boards’ display of items, depending on factors such as the weather — more coffee on cold days and McFlurries on hot days, for example — and the time of day or regional preferences. The menus will also suggest add-on items to customers.

Since taking the helm in 2015, Chief Executive Officer Steve Easterbrook has pushed technology — including self-order kiosks, digital menus boards and delivery — to boost sales and help McDonald’s stand out among rivals. Since McDonald’s seldom carries out acquisitions, the purchase of Dynamic Yield shows the company’s desire to leverage technology to speed growth in the fiercely competitive restaurant industry.

RIDE HAILING

Uber acquires rival Careem

for footprint in the Mideast

Uber announced on Tuesday it has acquired Mideast competitor Careem for $3.1 billion, giving the San Francisco-based firm the commanding edge in a region with a large, young, tech-savvy population.

It comes as Uber’s losses widened last year ahead of plans for an initial public stock offering this spring.

Uber said the purchase consists of $1.7 billion in convertible notes and $1.4 billion in cash.

REAL ESTATE

U.S. home prices increase

at slowest pace in 6 years

U.S. home prices rose at their slowest pace in more than six years in January, as higher mortgage rates last year weighed on sales.

The S&P CoreLogic Case-Shiller 20-city home price index increased 3.6 percent in January from a year earlier. That’s down fom a 4.1 percent pace the previous month.

The slowdown in price appreciation has helped make homes more affordable.

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