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
Business
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
In a significant move reflecting the explosive growth of women’s sports, the WNBA has revealed the addition of its 15th team in Portland, set to commence operations in 2026. The unnamed franchise will be under the ownership of RAJ Sports, an investment firm dedicated to enhancing sports entities. Lisa Bhathal Merage has been appointed as
In an intriguing turn of events, Apple is reportedly negotiating with JPMorgan Chase to potentially transfer the management of its popular Apple Card program from Goldman Sachs. This development highlights the ongoing evolution within the financial sector, especially as established tech companies delve deeper into financial services. The proposed shift signifies not just a change