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
Business
JPMorgan Chase CEO Jamie Dimon recently expressed his belief that the chances of a “soft landing” for the U.S. economy are relatively low, ranging from 35% to 40%. According to Dimon, the most likely scenario in his view is a recession. Despite being asked if his stance had changed since February on the optimism of
In a surprising twist, Disney’s media business is no longer dragging the company down. For years, investors have been concerned about the impact of streaming losses, a declining traditional pay TV business, and lackluster box office performances on Disney’s overall financial health. This has resulted in Disney’s stock falling by 24% in the past two
Disney recently announced that starting mid-October, the prices for most plans on Disney+, Hulu, and ESPN+ will see an increase of $1 to $2 per month. The most significant price increase comes for the Hulu plans that include live TV, which will see a $6 bump in monthly fees. Disney+ basic and premium plans will
Yum Brands recently reported a mixed quarter, with both Pizza Hut and KFC experiencing declining same-store sales. The CEO, David Gibbs, cited the impacts of the Middle East conflict and a more cost-conscious consumer as factors contributing to these challenges. Despite these headwinds, sales trends in the U.S. have shown improvement compared to the previous
Eli Lilly’s highly popular weight loss injection Zepbound and diabetes drug Mounjaro are now fully available in the U.S., as per the recent update on the U.S. Food and Drug Administration’s drug shortage database. The previous update indicated that certain doses of these treatments were facing shortages. The scarcity of Mounjaro dates back to as
In a recent turn of events, Delta Air Line CEO Ed Bastian found himself in a tough situation, having to deal with the aftermath of a botched CrowdStrike software update that wreaked havoc for the airline. Thousands of customers and crew members were left stranded due to the disruptions caused by the faulty update. Delta
Tadge Juechter’s career at General Motors began with a pivotal research project in 1985 to determine the market potential for a high-performance model of the iconic Corvette. Fast forward nearly four decades, and Juechter has left an indelible mark on the Corvette legacy, culminating in the unveiling of the 2025 Chevrolet Corvette ZR1, the most
The Summer Olympics in Paris have garnered a significant amount of attention in the U.S., with Snoop Dogg playing a prominent role in the coverage. The total audience delivery average for the first five days of the Olympics was 34 million viewers, a substantial increase of 79% from the 2021 Tokyo Olympics. Executives from Comcast’s
In a groundbreaking move, Morgan Stanley has announced that it will be allowing its financial advisors to offer bitcoin ETFs to eligible clients. This decision marks a significant shift in the traditional approach of major Wall Street banks towards digital assets, particularly cryptocurrency. Unlike other major financial institutions such as Goldman Sachs, JPMorgan, Bank of