In an unexpected turn of events, Delta Air Lines is facing a massive hit to its revenue this summer due to travelers avoiding Paris as a destination. This decision by potential tourists has led to a significant loss of around $100 million for the airline, disrupting what would have been a busy summer for European
Business
The National Football League is contemplating the idea of allowing minority private equity ownership for its 32 teams, with a potential ownership stake of up to 10%. Commissioner Roger Goodell discussed this possibility in an exclusive CNBC interview, emphasizing the need for the league’s policies to align with the evolving sports landscape. Goodell acknowledged the
Pfizer has announced its plans to proceed with the development of a once-daily version of its weight loss pill, danuglipron, following positive results from an ongoing early-stage study. The company has evaluated various formulations of the drug and has identified one that exhibits the most favorable safety profile and efficacy in terms of how the
Sportsbooks and daily fantasy operators are gearing up for a surge in activity during the upcoming Summer Olympics in Paris, scheduled to kick off on July 26. With the legalization of sports betting gaining traction across the United States, the gaming industry is bracing for an influx of wagers, especially on sports such as basketball,
Costco recently announced that it would be raising its membership fees in both the U.S. and Canada. The annual fee for regular memberships will increase from $60 to $65, while the Executive Membership fee will go from $120 to $130 per year. This fee increase is set to take effect on September 1st, impacting around
The Federal Trade Commission is gearing up to file lawsuits against three major U.S. health companies for their roles as intermediaries in negotiating prices for medications like insulin. The agency believes that these companies contribute to inflating costs for patients, according to a report from CNBC. The three companies in the spotlight are UnitedHealth Group’s
With NASA astronauts currently docked at the International Space Station for a longer duration than expected, the agency’s leadership is now considering potential alternatives to using Boeing’s Starliner for the crew’s return to Earth. Even though Boeing’s spacecraft remains the primary option for the return of the crew, officials are open to exploring other possibilities
In an effort to enhance efficiency and cater to the increasing demand for online grocery shopping, Walmart has announced the opening of five automated distribution centers specializing in fresh food across the United States. These new facilities, averaging 700,000 square feet, will revolutionize the way Walmart handles perishable items and aims to streamline its supply
Athletic Brewing Company, a leading nonalcoholic brewer, made headlines with the announcement of an additional $50 million in equity financing led by General Atlantic. This round of financing is expected to be just the beginning, with General Atlantic showing interest in investing even more. The company’s CEO and founder, Bill Shufelt, expressed his excitement about
The summer of 2023 has witnessed a surge in air travel demand, with record numbers of passengers passing through U.S. airport checkpoints. However, this spike in demand has not translated into record profits for U.S. airlines. Despite forecasts of record demand and revenue by some carriers, the industry is facing financial challenges due to higher