PUBLIC RADIO

GBH sells WCAI house

Public broadcaster GBH is selling the longtime home of WCAI, its NPR news station serving Cape Cod and the Islands, CEO Susan Goldberg said in a statement. The sale of the station’s headquarters — a 19th-century captain’s house in Woods Hole where WCAI operated for 25 years — comes months after GBH laid off 4 percent of its staff and suspended three programs of television to reduce costs. Jay Allison, founder of the station whose Atlantic Public Media currently works out of the same office, said the decision came as a shock and surprise to the staff and that he was disappointed by the move. GBH said it would look for a new headquarters for WCAI. Goldberg said the station will continue to broadcast uninterrupted. — AIDAN RYAN

mortgage

Rates continue to rise

The average rate on a 30-year mortgage in the US rose for a fifth straight week, returning to its highest level since early August. The rate rose to 6.72 percent from 6.54 percent last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago, when the rate averaged 7.76 percent. — THE ASSOCIATED PRESS

CRUISES

Smooth sailing for Royal Caribbean

Shares in Royal Caribbean Cruises rose to a record high after the cruise operator raised its earnings outlook for the fourth time this year and said it expected strong demand to continue. The world’s most valuable cruise line raised its outlook for adjusted earnings to $11.57 to $11.62 per share this year, according to a statement on Tuesday, above the average analyst projection of $11.51. — BLOOMBERG

BEER

Where have all the beer drinkers gone?

A slump in confidence and demand in China has hurt beer sales at two of the world’s biggest brewers. Anheuser-Busch InBev and Carlsberg both reported a worse-than-expected drop in volumes as cautious Chinese drinkers cut spending. Further declines in consumption in Argentina and a continued weak consumer environment in the US, one of the world’s largest beer markets, didn’t help either. AB InBev, the maker of Stella Artois and Budweiser, said volumes fell 2.4 percent in the third quarter, more than was estimated by a consensus of analysts compiled by Bloomberg. Denmark’s Carlsberg said organic volumes fell 0.2 percent, which it blamed on lower sales in Western Europe and Asia. — BLOOMBERG

EXERCISE EQUIPMENT

Peloton chooses Ford executive as new CEO

Peloton has named Ford Motor Co. chief executive Peter Stern as its next chief executive, tasking him with leading a turnaround of the long-struggling fitness company. Stern — who is currently president of Ford Integrated Services and was previously a vice president at Apple — will join Jan. 1, the company announced Thursday. Peloton also released its latest financial report, saying revenue would be $640 million to $660 million in its fiscal second quarter. Peloton, which thrived during the lockdowns caused by the pandemic, has been caught in a deep crisis for the past three years. — BLOOMBERG

road

Stellantis revenues decrease

MILAN – Troubled automaker Stellantis on Thursday reported a 27 percent drop in net income during the third quarter as delays in new product launches and inventory-reduction measures reduced global new vehicle deliveries by 20 %. The world’s fourth-largest automaker, created by the 2021 merger of PSA Peugeot and Fiat Chrysler Automobiles, reported net income of 33 billion euros (nearly $36 billion) in the three months ended Sept. 30 in down from €45 billion compared to the same period a year earlier. All regions except South America reported double-digit declines in revenue, led by North America, which fell 42 percent to €12.4 billion. — THE ASSOCIATED PRESS

AVIATION

He besieged Boeing to skip the Chinese air show

Boeing will not attend China’s top commercial and defense air show next month, a notable absence for the planemaker in a key export market. The US plane maker will not be one of the exhibitors at the Zhuhai Airshow next month, a spokesman said in an emailed response to questions from Bloomberg. The planemaker previously said it was trying to cut spending amid a crippling strike now in its seventh week that has halted production of the 737 Max. — BLOOMBERG

road

Ford will close the plant that makes electric trucks for the rest of the year

Ford plans to close the Michigan plant that makes its F-150 Lightning pickup, its flagship electric vehicle, by the end of the year as demand for electric vehicles continues to decline. The move is the latest blow to a model that has been a centerpiece of Ford’s electric vehicle strategy and which CEO Jim Farley said will be “a test case for electric vehicle adoption.” The automaker will begin a seven-week shutdown in mid-November at the Dearborn plant, visited by President Biden in 2021, who drove a Lightning and said “this crazy thing is fast.” — BLOOMBERG

Cable TV

Comcast may disable cable networks

Comcast has said it is considering spinning off its cable networks into a new company as it grapples with continued industry-wide subscriber declines. “We’re going to start a study to determine if there’s a good idea in creating a new, well-capitalized company that will reach out to our shareholders — the existing shareholders — of our cable TV networks,” Chairman Mike Cavanagh said on a call with analysts . to discuss earnings. “We’re not talking about Peacock or broadcast networks.” In the third quarter, Comcast lost 365,000 cable TV customers. NBCU’s cable networks include MSNBC, CNBC, E! and Bravo, among others. Comcast reported third-quarter sales and profit that beat analysts’ expectations after the company’s NBC division got a boost from the Summer Olympics, an event that generated $1.4 billion in advertising revenue. — BLOOMBERG

delivery

DoorDash turns first profit since the start of the pandemic

DoorDash beat Wall Street expectations on nearly every key earnings metric, allowing the delivery service to post its first operating profit since the start of the pandemic. The San Francisco-based company generated operating income of $107 million, it said in a statement Wednesday, more than double analysts’ outlook and representing its first quarterly profit since the second quarter of 2020. The firm also beat , total orders in the third quarter. and adjusted revenue as it worked to expand non-restaurant offerings to attract new customers. — BLOOMBERG