Since the merger of Discovery with WarnerMedia in 2022, David Zaslav has faced significant challenges in convincing shareholders of the company’s potential. The shares of Warner Bros. Discovery have plummeted by about 70% since the merger closed, reflecting a lack of investor confidence in Zaslav’s leadership. Financial Struggles Zaslav’s tenure has been marked by drastic
Business
Automaker Stellantis has recently announced plans to indefinitely lay off up to 2,450 U.S. factory workers as it discontinues the production of an older version of its Ram 1500 pickup truck in Michigan. This decision comes as the company shifts focus to its newer models and updates its production lines to align with consumer demands.
Tired of the inconsistent bounce and lack of durability in traditional pickleballs, Life Time’s founder and CEO Bahram Akradi made the bold decision to create a new and improved version of the popular game ball. This move came as a response to the growing popularity of pickleball in America, with Akradi aiming to address the
In a recent securities filing, Delta Air Lines disclosed that last month’s CrowdStrike outage, resulting in mass flight cancellations, cost the company a staggering $550 million. This financial blow included a $380 million revenue hit in the current quarter due to refunding customers for cancelled flights and providing compensation. Additionally, the carrier incurred a $170
JPMorgan Chase CEO Jamie Dimon recently expressed his belief that the chances of a “soft landing” for the U.S. economy are relatively low, stating that there is only a 35% to 40% probability of such an outcome. According to Dimon, the most likely scenario at this point is a recession. When questioned by CNBC’s Leslie
The narrative surrounding Disney’s media business has undergone a significant shift in recent times. While the company has been grappling with streaming losses, declining traditional pay TV business, and box office failures in the past, its latest second-quarter results indicate a positive change. The combined streaming businesses of Disney, including Disney+, Hulu, and ESPN+, have
Disney recently announced that it will be increasing the prices of its popular streaming platforms, including Disney+, Hulu, and ESPN+. Starting in mid-October, most subscription plans will see a price increase of $1 to $2 per month. The most notable increase will be on Hulu’s plans that include live TV, which will now cost $6
Yum Brands recently reported its quarterly financial results, which showed a mixed performance. The company’s earnings per share were $1.35 adjusted, slightly surpassing the analyst’s expectations of $1.33. However, its revenue of $1.76 billion fell short of the anticipated $1.8 billion. The net income for the second quarter was $367 million, or $1.28 per share,
Delta Air Lines CEO Ed Bastian recently took a bold step to acknowledge the challenges faced by the company’s employees in the wake of massive disruptions caused by a botched CrowdStrike software update. These disruptions led to thousands of customers and crew members being stranded, resulting in the cancellation of over 5,000 flights from July
The recent update on the U.S. Food and Drug Administration’s drug shortage database has brought some relief to users of Eli Lilly’s weight loss injection Zepbound and diabetes drug Mounjaro. However, the fact that these drugs faced shortages for some time raises questions about the challenges in the pharmaceutical supply chain. The scarcity of these