1. AIRLINES SPEND BILLIONS AT THE PARIS AIRSHOW
Ryanair ordered 175 Boeing 737-800 aircraft at the Paris Airshow, pushing orders for new planes over the $100 billion mark on day three of the event. Boeing also gained $30 billion in orders for its new 787-10 on Tuesday. Boeing competitor Airbus signed a contract with Air France-KLM for $7.2 billion for 25 of its new A350 planes, and with Sinagpore Airlines for $8.6 billion for 30 A350-900 planes. [Reuters]
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2. WALMART BEHIND ON E-BUSINESS
Walmart, the world's largest retailer, is scrambling to compete with Amazon for online sales. The ubiquitous supermart is building Amazon-like warehouses for shipping goods, and having retail workers pack and send items from stores as retail trends grow more and more toward e-commerce. Amazon crushes Walmart in online sales: $61 billion to $7.7 billion in 2012, though Walmart says it expects to kick its number up to $10 billion this year. For context, $10 billion would still account for just over 2 percent of Walmart's $469 billion in revenue. [The Wall Street Journal]
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3. NICKELODEON REFUSES TO LIMIT JUNK FOOD ADVERTISING
Nutritional standards are for regulators and food companies to worry about, not a kid's TV network, maintains Nickelodeon, as it faces pleas from four senators to limit advertising for foods like Cocoa Puffs. "As an entertainment company, Nickelodeon's primary mission is to make the highest quality entertainment content in the world for kids," the company wrote. "That is our expertise." In 2012, Disney unveiled strict new rules for food advertising on its child-focused networks. Food advertising has slid 45 percent for Nickelodeon since 2008, in part because of self-regulation from brands. [The New York Times]
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4. CHRYSLER AGREES TO RECALL 2.7 MILLION JEEPS
After denying an initial request, Chrysler has agreed to recall 2.7 million older Jeep Grand Cherokee and Liberty SUVs, avoiding what would have surely been a messy battle with U.S. regulators. Earlier this month, the National Highway Traffic Safety Administration warned that the vehicles' gas tanks could burst and cause a fire in certain types of accidents. The recall includes Jeep Grand Cherokee models dating back to 1993. Chrysler has not commented on how much it will cost. [FOX]
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5. MEN'S WEARHOUSE DUMPS ITS FOUNDER AS CEO
Less than a week after Men's Wearhouse reported a 25 percent gain in first-quarter earnings on a 5 percent sales increase, the retailer has announced it will terminate George Zimmer, the man who founded the company 40 years ago and appears in TV commercials saying, "You're going to like the way you look. I guarantee it." In a statement to CNBC, Zimmer said he'd spoken up in recent months about concerns over the company's direction, and that the board "chosen to silence my concerns through termination as an executive officer." [USA Today]
