In a recent announcement, Delta Air Lines revealed that the CrowdStrike outage that occurred last month resulted in significant financial losses for the company. The airline indicated that the total cost of the outage and subsequent flight cancellations amounted to approximately $550 million. This included a $380 million revenue hit in the current quarter due
Business
Jamie Dimon, CEO of JPMorgan Chase, recently stated that he believes the chances of a “soft landing” for the U.S. economy are relatively low, with a probability ranging from 35% to 40%. According to Dimon, a recession is the most likely scenario at this point in time. Despite some fluctuations in the markets, Dimon’s view
Disney’s media business has been a topic of concern and debate among investors for quite some time. The narrative surrounding the company has largely been centered on how streaming losses, declining traditional pay TV business, and box office failures have been overshadowing the success of the theme parks and resorts. This has resulted in a
Disney recently announced that it will be increasing the prices of its streaming services, Disney+, Hulu, and ESPN+. Starting in mid-October, most plans for these platforms will see a price increase of $1 to $2 per month. Additionally, the most expensive plans for Hulu, which include live TV, will see a significant increase of $6
Yum Brands recently reported a mixed quarter, with both Pizza Hut and KFC experiencing declining same-store sales. CEO David Gibbs attributed these declines to the impacts from the Middle East conflict, as well as a more cost-conscious consumer base. These factors have created headwinds for Yum Brands’ sales overall. Despite these challenges, sales trends have
Eli Lilly’s highly popular weight loss injection Zepbound and diabetes drug Mounjaro have faced shortages in the U.S. However, according to the U.S. Food and Drug Administration’s drug shortage database update, all doses of these treatments are now available. This comes as a relief after previous reports indicated that some doses were still in short
The aftermath of a botched software update by CrowdStrike left Delta Air Lines in a state of disarray, leading to massive disruptions that lasted for days. Thousands of customers and crew members were left stranded, with the airline forced to cancel over 5,000 flights in a span of just five days. This level of chaos
Tadge Juechter, a veteran at General Motors with a long-standing history of involvement with the Corvette brand, recently retired after spending nearly 47 years at the Detroit automaker. His journey with the Corvette began in 1985, where he was tasked with researching the market for a new high-performance model of the Corvette, known as the
The Summer Olympics in Paris have taken on a new life with the introduction of Snoop Dogg as a prominent figure in the coverage. The viewership numbers have skyrocketed, with a 79% increase from the previous Tokyo Olympics. NBCUniversal, the broadcaster of the Games in the U.S., has been quick to attribute this success not
Recently, Morgan Stanley made a groundbreaking announcement to its financial advisors regarding the offering of bitcoin exchange-traded funds (ETFs) to select clients. This move sets them apart as the first major Wall Street bank to take this step, marking a significant shift in the financial industry. With approximately 15,000 financial advisors under its wing, Morgan