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
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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
Tadge Juechter, a legendary figure in the automotive industry, recently retired from General Motors after a distinguished career spanning nearly five decades. His impact on the Chevrolet Corvette, particularly with the unveiling of the new 2025 Corvette ZR1, has solidified his position as the “godfather” of the modern Corvette. This article delves into Juechter’s journey,
The recent Summer Olympics in Paris saw a significant rise in viewership, with a total audience delivery average of 34 million viewers over the span of five days. One of the key factors contributing to this surge in interest has been the presence of Snoop Dogg as part of the coverage. The hip-hop artist, known
In a groundbreaking move, Morgan Stanley has announced that it will be allowing its financial advisors to offer bitcoin ETFs to select clients. This decision sets Morgan Stanley apart from other major Wall Street banks, making it the first to take this step. With approximately 15,000 financial advisors under its belt, Morgan Stanley is opening