The Consumer Financial Protection Bureau (CFPB) regulation aimed at reducing late fees on credit cards is currently facing significant opposition from the card industry led by the U.S. Chamber of Commerce. The industry filed a lawsuit against the CFPB in federal court, seeking to prevent the new rule from being implemented. This legal battle has
Business
For the first time in over a decade, the summer movie season kicked off without a Marvel Cinematic Universe film, a shift that has had a noticeable impact on the box office. Usually, Marvel films have been the cornerstone of the summer season, consistently generating massive openings of over $100 million. However, this year, Universal’s
Disney has been gearing up for a significant shift in its business model, particularly focusing on its streaming services. The recent second-quarter results indicate a notable improvement in the financial performance of Disney’s streaming units. From a loss of $659 million a year ago to losing just $18 million this quarter, Disney+ Hulu, and ESPN+
Former Starbucks CEO, Howard Schultz, recently shared his thoughts on the company’s disappointing quarterly report. Even though he no longer has an official role within Starbucks, Schultz believes that the company can bounce back by enhancing its U.S. stores. He emphasized the need for an improved mobile order and pay experience, as well as a
Amgen’s stock saw a significant increase of over 12% after the drugmaker revealed positive initial data on its experimental weight loss injection. This announcement sparked concerns among investors about potential new competition in the rapidly growing weight loss drug market. As a result, shares of the current key players in the obesity drug industry, Novo
Carvana, the online auto retailer, experienced a significant surge of over 30% in their stock price during after-hours trading following the release of their first-quarter results. The company exceeded expectations across various metrics, including earnings per share and revenue. This outstanding performance has reinforced Carvana’s position as a key player in the automotive industry, showcasing
CVS Health recently reported its first-quarter revenue and adjusted earnings, both of which fell short of expectations. This disappointing performance was a result of higher medical costs plaguing the U.S. insurance industry. As a consequence, the company slashed its full-year profit outlook, citing challenges with higher medical costs persisting throughout the year. The adjusted earnings
Johnson & Johnson recently announced plans to pay $6.5 billion over a span of 25 years to settle the majority of lawsuits in the U.S. regarding the alleged link between their talc-based products and ovarian cancer. This settlement, which is subject to the approval of the claimants involved, aims to resolve a significant portion of
NBCUniversal, under the umbrella of Comcast, has made a substantial offer to regain the rights to air National Basketball Association (NBA) games after a 22-year hiatus, as reported by The Wall Street Journal. The offer averages $2.5 billion per year, significantly higher than the current $1.2 billion paid by Warner Bros. Discovery, the current rights
Paramount Global is gearing up for a significant change in leadership as reports surface that Chief Executive Officer Bob Bakish is set to be replaced by a team of existing division heads. The move, reportedly scheduled to be announced on Monday, is poised to have far-reaching implications for the company’s future direction. This impending leadership