Ford cuts back on cars, jobless claims hit 48-year low, and more trending news

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In an effort to cut an extra $11.5 billion in costs, Ford will stop selling most sedans in the U.S., eventually planning to only sell Mustangs and the 2019 Focus Active crossover. American automakers are adapting to consumer preferences for bigger vehicles; by 2020, nearly 90% of Ford’s North American inventory will be pickup trucks, SUVs and commercial vehicles. Ford is also considering selling “money-losing” operations in Europe and South America to help reach a global profit margin of 8% in the next two years. ? Share your thoughts: #FordSedans

Not since 1969 have so few Americans applied for unemployment benefits. Labor Department data show initial jobless claims dropped to 209,000 last week, the lowest since “early in the Nixon Administration.” It’s one of several signals indicating the labor market is reaching “full employment” — and that the Fed is more likely to raise interest rates, says The Wall Street Journal. The U.S. economy has added an average 202,000 jobs per month this year, up from 182,000 in 2017. ? Share your thoughts: #JoblessClaims

Comcast and 21st Century Fox are fighting over Sky after Comcast made a $31 billion offer for the British pay-TV broadcaster. Fox already owns 39% of Sky and made an offer late last year for the remaining 61%; now the British firm says it will withdraw its recommendation for Fox’s bid. Comcast could face “fewer regulatory hurdles” securing Sky, as U.K. regulators evaluate whether a Fox takeover would give the Murdoch family too much influence. Comcast is also weighing whether to intervene on Fox’s plans to sell entertainment assets to Disney for $52.4 billion, The Wall Street Journal reports. ? Share your thoughts: #ComcastSky

Facebook had a strong first quarter despite a privacy scandal considered the “worst crisis in its 14-year history.” The social media giant saw a 63% jump in profit and a 49% increase in revenue; it also added 70 million monthly users. Rival Twitter also had a strong start to 2018, posting its second consecutive quarterly profit. The figures suggest that even as regulators turn “a more skeptical eye” toward social media firms, “core advertising-driven businesses are in good shape,” says The New York Times. ? Share your thoughts: #FacebookEarnings

Subway will close 500 U.S. stores this year as part of a focus on rebranding efforts and growth abroad. Despite closures last year and in 2016, the world’s largest restaurant chain still operates just over 25,000 branches in the U.S. The 50-year-old sandwich giant faces increased competition as rivals new and old — from Starbucks and Panera to McDonald’s and drugstores — boost efforts in the grab-and-go food space. The chain will open 1,000 stores internationally. ? Share your thoughts: #SubwayClose

Idea of the Day: Want to find your dream career? Listen to people who highlight your strengths, says Hootsuite CEO Ryan Holmes. If people have always told you you’d be good at something, they might be pointing out the obvious.

“The people around you often see aspirations and potential (not to mention, flaws) that, for whatever reason, you may be unwilling or unable to see in yourself.”

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— Carmel Melouney & Katie Carroll / Share this using #DailyRundown

From earlier: #SonosIPO