Alex Ossola
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Appearances Over Time
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Thanks, Becky.
Thank you.
In other deals news, growth in the U.S.
pizza industry has stalled, and Yum!
Brands said today that it will sell its Pizza Hut chain to two separate buyers.
It's selling the operations outside mainland China to private equity firm Long Rage Capital for about $1.5 billion.
And Yum!
China Holdings will buy the China business for about $1.2 billion.
The deal allows Yum!
to focus on its better-performing brands, such as Taco Bell and KFC.
And the journal has learned that General Motors is in talks with Lockheed Martin about making parts for its weapons.
They're still talking about which parts GM would make.
GM and Lockheed executives announced their agreement to work together to increase munitions production at a conference today in Detroit.
The vice president of strategy for the GM defense unit, Bruce Brown, explained how the company would approach this.
GM CEO Mary Barra has met with Trump administration officials to discuss a larger military role for the automaker.
The administration says that production needs to be beefed up to replenish stockpiles of missiles and other critical weapons that have fallen because of the wars in Ukraine and Iran.
But there are doubts that American weapons makers are able to meet increased demand.
President Trump has invoked a law from the Cold War era, the Defense Production Act, to increase weapons production.
He wrote a memo this month to Defense Secretary Pete Hegseth saying he should pursue deals with private companies to, quote, provide for the national defense.
Coming up, Marriott is raking it in from its credit cards, and its hotel owners want a piece.