In recent times, corporate profits have been taking a hit due to a stealth inflationary cost that is often overlooked — insurance. As companies across various sectors revel in the relief of lower input and freight costs, insurance premiums continue to rise unabated. Travelers, a prominent player in the insurance industry, reported a staggering 14%
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Disney and its investors should brace themselves, as activist investor Nelson Peltz is preparing to shake things up. Peltz’s Trian Fund Management has announced its intention to launch a campaign to add Peltz and former Disney Chief Financial Officer Jay Rasulo to Disney’s board. This move comes as part of Trian’s efforts to improve Disney’s
The holiday season is a crucial time for retailers, as it marks a significant portion of their annual sales. According to the National Retail Federation (NRF), holiday sales in 2023 rose by 3.8% compared to the previous year, reaching a total of $964.4 billion. This increase is a positive outcome considering the challenges faced by
Restaurant Brands International, the parent company of Burger King, has announced its acquisition of Carrols Restaurant Group, the largest Burger King franchisee in the U.S. This strategic move is expected to bring about significant changes for Burger King as it aims to revitalize its business. The deal, valued at approximately $1 billion in cash, will
As passengers, we’ve all experienced the routine of boarding a flight, finding our seats, and tuning out the pre-flight safety demonstration. We assume that we know the procedures in case of an emergency because we’ve seen it all before. However, recent airline incidents have shed light on the importance of paying attention to these demonstrations.
It was a month of trial and error, a month of twists and turns, before the first person was able to solve the enigmatic Rubik’s Cube. This person was none other than Erno Rubik, the visionary creator of this iconic toy, who is now 79 years old. What began as a mathematical teaching tool to
Citigroup has reported significant losses in the fourth quarter, amounting to $1.8 billion. These losses can be attributed to various factors, including overseas risks, the regional banking crisis experienced last year, and CEO Jane Fraser’s corporate restructuring efforts. While the charges have had a detrimental impact on the bank’s earnings, Citigroup stated that it has
CVS Health, one of the leading retail pharmacy chains in the U.S., has announced plans to close select pharmacies inside Target stores. The closures, set to begin in February and conclude by the end of April, come as part of CVS’ efforts to improve profitability in a challenging market. While the company spokesperson did not
SpaceX, under the leadership of Elon Musk, has achieved another significant milestone in the field of satellite communication. The company recently announced that it successfully sent text messages via its Starlink satellites using T-Mobile’s network. This breakthrough test is part of SpaceX’s ongoing efforts to bring its direct-to-device (D2D) cell service to the market in
Boeing CEO Dave Calhoun openly admitted, “our mistake,” following a terrifying incident aboard an Alaska Airlines flight involving a door plug on a Boeing 737 Max 9. The incident escalated to an alarming level when the plug blew out mid-flight, resulting in a gaping hole in the fuselage. This occurrence led to the grounding of