Business Briefs: GM & Lyft, Honest Company, WalmartPosted: Updated:
General Motors is breaking up with Lyft. General Motors president stepped down from Lyft's board of directors Wednesday. According to Cheddar, GM invested $500 million in Lyft two years ago with the hope of closer collaboration in the autonomous vehicle space. But, since then, Lyft has expanded its relationship with competitors Ford and Waymo.
Honest Company is raking in the cash. Jessica Alba's eco-friendly beauty line just closed on a $200 million investment. The money will help Honest expand internationally and create new products. Sales of the popular products have slowed after a series of issues with its baby powder, baby wipes, and laundry detergent.
Walmart is toasting new wine offerings. The company recently launched a 'winemaker's selection' with 10 distinctive bottles from California, France and Italy. The move is meant to keep up with competitors and appeal to middle class customers with refined tastes. Walmart says the wine tastes like a $40 bottle of wine but only costs $11.