President Donald Trump has once again proposed the elimination of taxes on Social Security benefits for seniors. This proposal has caused a stir among policy experts who warn about the negative implications it could have on the Social Security and Medicare trust funds. During a recent interview on “Fox & Friends” and a press conference
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Automaker Stellantis recently announced plans to indefinitely lay off up to 2,450 U.S. factory workers due to the discontinuation of an older version of its Ram 1500 pickup truck in Michigan. The Ram 1500 Classic has been a staple for entry-level buyers and fleet customers, but its production will be coming to an end later
Frustrated with the inconsistencies in bounce and durability of pickleballs on the market, Life Time’s founder and CEO Bahram Akradi decided to create a solution. This decision led to the development of what is being hailed as “the ultimate pickleball” by the upscale fitness and lifestyle company. This move showcases Akradi’s dedication to improving the
An explosion of a hazardous goods container occurred on a cargo ship at China’s Ningbo port, owned by Taiwanese company Yang Ming Marine Transport Corp. Fortunately, there were no reported casualties or injuries as a result of the incident. The explosion took place on the YM Mobility ship, causing a fire which has since been
JPMorgan Chase, the largest U.S. bank by assets, has recently unveiled a generative artificial intelligence assistant known as LLM Suite for tens of thousands of its employees. This move marks the initial phase of a broader plan to integrate this cutting-edge technology across the financial giant. The software, already accessible to over 60,000 employees, is
Wealthy investors and family offices have been reducing their stock holdings, moving towards private markets, due to concerns about an overheated tech sector. In fact, UBS family office survey found that family offices have 35% of their portfolios in private equity compared with just 28% in equities. Another Deloitte survey showed a drop in family
The stock market experienced a variety of fluctuations recently, with notable movements in several key companies. E.l.f. Beauty saw a significant increase in sales, Paramount Global added to its streaming division for the first time, and Sweetgreen exceeded expectations by soaring more than 20% after hours. However, Archer Aviation faced a decline in after-hours trading
E.l.f. Beauty has demonstrated impressive growth with a 50% increase in sales, reaching $324.5 million in its fiscal first quarter. Despite exceeding quarterly estimates, the company’s reported net income for the same period decreased to $47.6 million, down from $53 million a year earlier. This decline in net income coupled with a 10% drop in
Delta Air Lines recently revealed that the CrowdStrike outage and subsequent mass flight cancellations in the previous month had a staggering financial impact amounting to $550 million. This includes a $380 million revenue hit primarily due to refunding customers for cancelled flights and providing compensation in cash and SkyMiles. Additionally, there was a $170 million
In a surprising turn of events, Eli Lilly reported exceptional second-quarter earnings and revenue that exceeded all expectations. This impressive feat was largely attributed to the remarkable sales of their blockbuster diabetes drug, Mounjaro, and the weight loss injection, Zepbound. The company’s stock price surged by over 7% following the announcement of these remarkable results.