The automotive industry in the United States is facing a myriad of challenges that have culminated in a bleak sales forecast for the third quarter of 2023. High interest rates, political uncertainties, and rising vehicle prices are expected to hinder sales, leading to projections of around 3.9 million vehicles sold, representing a roughly 2% decline
Business
In a significant move reflective of its resilience, Southwest Airlines recently revised its revenue outlook for the third quarter, signaling an anticipated increase in unit revenue of up to 3% compared to the previous year’s figures. This optimistic revision stands in stark contrast to prior expectations, which forecast a potential downturn of up to 2%.
In a noteworthy maneuver within the sports investment landscape, businessman Paul Viera has opted to bolster his ownership in the San Antonio Spurs from 5% to 11%. This strategic decision reflects a broader trend among investors as NBA franchises continue to gain value and allure as assets. With valuations skyrocketing, Viera’s acquisition reveals not only
The U.S. Department of Justice (DOJ) recently ignited a significant legal confrontation by suing Visa, one of the largest payment processing networks in the world. This lawsuit comes amid ongoing scrutiny of major corporations and their potential monopolistic behaviors, particularly within the finance sector. The crux of the DOJ’s argument revolves around allegations that Visa
In the ever-competitive landscape of co-branded credit card partnerships, American Airlines is reportedly in negotiations to appoint Citigroup as its sole credit card partner. As the airline considers forsaking its longstanding association with Barclays, which has been in place since the merger with US Airways in 2013, they are exploring ways to maximize their loyalty
In what has proven to be a turbulent time for Boeing, the company is currently grappling with the financial and operational impacts of a strike initiated by its machinists. The workers, armed with a strong desire for wage increases reflective of the rising costs of living, have taken to the picket lines, urging the company
In a surprising turn of events for Boeing’s defense unit, Ted Colbert’s immediate departure has been officially announced by CEO Kelly Ortberg. This marks Ortberg’s first significant leadership change since taking over the reins in August. The decision to part ways with Colbert comes at a pivotal time for the company, as they strive to
The rising cost of insulin in the United States has captured the attention of policymakers and patients alike. Recently, the Federal Trade Commission (FTC) filed a lawsuit against three of the country’s largest Pharmacy Benefit Managers (PBMs)—Optum Rx, Caremark, and Express Scripts—accusing them of tactics that inflate costs for patients while boosting their own profits.
On a significant day for Nike, the sports apparel giant revealed that John Donahoe, its CEO since January 2020, will be stepping down effective October 13. Taking his place will be Elliott Hill, a company veteran who is coming out of retirement to assume the role. This leadership transition comes as Nike grapples with considerable
Darden Restaurants, a notable player in the dining sector, encountered mixed fortunes in its latest financial reporting. In a recent press release, the company revealed earnings for the quarter ending August 25 fell short of analyst expectations, demonstrating a slight decline in sales across key brands, particularly Olive Garden and its fine-dining counterparts. This underperformance