In a significant development in the world of sports ownership, businessman Paul Viera is expanding his investment in the San Antonio Spurs from 5% to 11%. This decision not only reflects Viera’s confidence in the team’s potential but also highlights broader trends in NBA valuations. As the league continues to grow, teams are increasingly being
Business
The U.S. Justice Department (DOJ) has filed a significant civil antitrust lawsuit against Visa, alleging that the payments giant has established an illegal monopoly in the debit payment sector. As the global leader in payment processing, Visa is accused of creating “exclusionary” agreements that undermine competition and hinder the growth of emerging payment firms. This
In a significant move that could reshape the landscape of credit card partnerships within the airline industry, American Airlines is reportedly negotiating with Citigroup to become its exclusive credit card partner. This potential shift would mean severing ties with Barclays, a relationship that has endured since the airline’s merger with US Airways in 2013. Industry
Boeing has been undeniably grappling with financial turmoil in recent years, exacerbated by an ongoing machinist strike that has entered its second week. As the company struggles to manage its commitments amidst demands for better pay and working conditions, the implications of this strike are increasingly significant. With more than 30,000 machinists walking off their
In light of recent developments at Boeing, the departure of Ted Colbert from the helm of the defense unit signifies a pivotal moment for the aerospace giant. CEO Kelly Ortberg’s announcement, marking Colbert’s exit effective immediately, reflects not just a change in personnel but a strategic response to ongoing challenges within the company. These challenges
In a bold move aimed at addressing consumer welfare in the healthcare sector, the Federal Trade Commission (FTC) has taken legal action against three of the largest pharmacy benefit managers (PBMs) in the United States. This lawsuit underscores a growing concern that the practices of these drug middlemen contribute not only to inflated medication costs
In a significant move within the corporate realm of sportswear, Nike has revealed a leadership transition that could reshape its future. John Donahoe, who has been at the helm as CEO since January 2020, will step down and give way to Elliott Hill, a longtime Nike veteran returning from retirement. This shift comes at a
Darden Restaurants has recently released their quarterly earnings report, highlighting results that fell short of analyst expectations. For the fiscal first quarter ending August 25, the renowned dining group, which operates brands like Olive Garden and LongHorn Steakhouse, revealed earnings per share (EPS) of $1.75, slightly below the anticipated $1.83. Revenue came in at $2.76
The Women’s National Basketball Association (WNBA) is making a significant leap forward by introducing its 15th team in Portland, Oregon. This news underscores the league’s commitment to growth and accessibility within women’s sports. As announced on Wednesday, the new franchise is slated to commence play in 2026, under the ownership of RAJ Sports, a firm
Apple Inc. is reportedly engaged in negotiations with JPMorgan Chase regarding the potential transfer of its flagship credit card program, the Apple Card, from its current partner Goldman Sachs. This strategic pivot arises from Goldman Sachs’ decision to recalibrate its retail banking approach, which has not yielded the expected financial robustness. The ongoing discussions between