Delta Air Lines disclosed that the CrowdStrike outage, which resulted in mass flight cancellations, caused the company a staggering $550 million in losses. The financial impact includes a $380 million revenue hit in the current quarter due to refunding customers for cancelled flights and providing compensation in the form of cash and SkyMiles. Additionally, the
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JPMorgan Chase CEO Jamie Dimon recently shared his view on the U.S. economy, stating that he believes the chances of a “soft landing” are minimal, with a recession being the more probable scenario. Despite the economy defying expectations so far, Dimon remains cautious about the future, citing various factors such as geopolitics, housing, deficits, spending,
Disney’s media business, which has been under scrutiny for its financial performance in recent years, seems to be turning a corner. Despite facing challenges with streaming losses and declining traditional TV revenue, Disney’s combined streaming services, including Disney+, Hulu, and ESPN+, recorded their first-ever quarterly profit of $47 million. This marks a significant improvement from
Disney has announced that starting mid-October, there will be price increases on most plans for their streaming services including Disney+, Hulu, and ESPN+. The prices will go up by $1 to $2 per month, affecting both basic and premium plans. The most expensive plans on Hulu will see a substantial increase of $6 per month,
Yum Brands’ recent quarter report highlighted a variety of challenges that the company is facing, particularly with declining same-store sales at both Pizza Hut and KFC. CEO David Gibbs pointed out that factors such as the impact of the Middle East conflict and a more cost-conscious consumer have created headwinds for sales. This situation poses
The U.S. Food and Drug Administration recently announced that all doses of Eli Lilly’s popular weight loss injection Zepbound and diabetes drug Mounjaro are now available in the country. This update comes after a period of time where these medications faced shortages. In fact, some doses of Mounjaro have been in short supply since as
Last month, Delta Air Lines found itself in the midst of chaos due to a botched CrowdStrike software update that led to massive disruptions. As a result, thousands of customers and crew members were left stranded, causing the airline to cancel more than 5,000 flights. This incident, which lasted from July 19 to July 24,
Tadge Juechter, known as the “godfather” of the modern Corvette, recently retired from General Motors after nearly 47 years with the company. His career was marked by a relentless pursuit of excellence and innovation, culminating in the introduction of the new 2025 Chevrolet Corvette ZR1, the most powerful and fastest version of the iconic sports
The 2024 Summer Olympics in Paris saw a significant boost in viewership, with a five-day total audience delivery average of 34 million viewers, representing a substantial 79% increase from the previous 2021 Tokyo Olympics. One of the key factors contributing to this surge in viewership was the presence of Snoop Dogg, the iconic hip-hop artist
In a surprising move, Morgan Stanley has announced that it will allow its financial advisors to offer bitcoin ETFs to certain clients. This decision sets them apart from other major Wall Street banks and highlights a shift towards mainstream acceptance of cryptocurrency in the financial world. Morgan Stanley’s 15,000 financial advisors will now be permitted