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413 summaries

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Court Rules Trump's Global Tariffs Illegal

The U.S. Court of International Trade ruled that President Donald Trump's latest 10% global tariffs , imposed under Section 122 of the Trade Act of 1974, are illegal but only blocked them for three importers: two small businesses and Washington state. The court's 2-1 decision leaves the temporary ta

May 7, 9:48 PM ET Est. Read: 2 Mins

7 articles from 6 publishers

BusinessCorporate

Delta Cuts Snacks on Short Flights

Delta Air Lines announced it will end complimentary snack and beverage service on short-haul flights starting May 19. According to CBS News , this change affects about 9% of Delta's daily flights, specifically those under 350 miles in the economy cabin. Passengers flying first class will still recei

May 7, 12:30 PM ET Est. Read: 1 Mins

3 articles from 3 publishers

BusinessEconomy

UK Construction Firms Face Sharpest Cost Rises in Decades

UK construction firms are experiencing some of the sharpest cost rises in nearly 30 years due to the war in Iran driving up prices for fuel and raw materials. The monthly Purchasing Managers’ Index (PMI) for UK construction activity fell to 39.7 in April, marking the lowest level since November and

May 7, 10:06 AM ET Est. Read: 2 Mins

8 articles from 3 publishers

More Business Summaries

Corporate

Shell Profits Surge to $6.92B on War-Driven Oil Prices

Shell reported first-quarter profits of $6.92 billion , exceeding analyst expectations and marking an increase from $5.58 billion a year earlier . The surge in profits is attributed to elevated oil prices due to the Iran war and disruptions in global energy markets. According to multiple reports, Sh

May 7, 2:45 AM ET·3 min read

7 articles from 6 publishers

Corporate

Samsung Discontinues China Sales of Some Consumer Products

Samsung Electronics announced it will discontinue sales of some consumer electronics products in mainland China due to intense competition. The company stated it will make every effort to minimize any impact on customers resulting from this decision and is reviewing various support measures for busi

May 6, 2:42 PM ET·2 min read

8 articles from 3 publishers

Legal

Apple Settles AI Lawsuit for $250M, Offers Up to $95 Per Device

Apple has agreed to pay up to $95 per device as part of a $250 million settlement resolving claims that it misled customers about the artificial intelligence features of its Siri voice assistant. The class-action lawsuit, filed in federal court in the Northern District of California on behalf of U.S

May 6, 2:42 PM ET·3 min read

6 articles from 6 publishers

Corporate

Trump-Backed Crypto Firm Sues Billionaire Justin Sun for Defamation

World Liberty Financial, a cryptocurrency venture co-founded by Donald Trump Jr., Eric Trump, and others, has filed a defamation lawsuit against crypto billionaire Justin Sun. The company alleges that Sun engaged in a 'public smear campaign' after World Liberty froze his assets due to suspected misc

May 6, 2:42 PM ET·1 min read

3 articles from 3 publishers

Automotive

Rivian Plans More R2 EV Variants

Rivian is actively developing additional variants of its upcoming R2 electric vehicle (EV) , according to CEO RJ Scaringe. The company, known for its high-end R1 SUVs and pickup trucks, plans to start deliveries of the R2 around June. The initial rollout will include a $58,000 model, with cheaper ve

May 6, 12:29 PM ET·1 min read

3 articles from 3 publishers

Finance

FSB Warns of Private Credit Risks to Global Stability

The Financial Stability Board (FSB) has warned about the growing risks posed by the expanding private credit industry to global financial stability, highlighting concerns over rising defaults and a lack of transparency in this sector. According to Reuters , the FSB emphasized that the private credit

May 6, 3:52 AM ET·2 min read

4 articles from 3 publishers

Economy

Markets Surge on U.S.-Iran Deal Hopes

Global financial markets reacted positively to President Donald Trump's announcement of progress in U.S.-Iran negotiations, causing oil prices to fall and stock indices to surge. Brent crude dropped between $97-$102 per barrel from its recent peak of $126, as the president reported 'great progress'

May 6, 3:52 AM ET·2 min read

29 articles from 6 publishers

Economy

Airlines Cut 2M Seats Amid Soaring Jet Fuel Prices

Airlines have cut nearly two million seats from May's schedules, canceling more than 13,000 flights globally as concerns grow over soaring jet fuel prices driven by the Middle East conflict. The total number of available seats fell from 132,619,704 in mid-April to 130,674,864 by late April. Accordin

May 5, 7:40 PM ET·2 min read

5 articles from 5 publishers

Corporate

Nissan to Cut 900 Jobs in Europe as Part of Restructuring

Nissan plans to cut around 900 jobs across Europe , approximately 10% of its European workforce , as part of a global restructuring effort, according to reports from TimesLIVE and BBC. The Japanese automaker will also consolidate production at its Sunderland plant in the UK by merging two lines into

May 5, 5:42 PM ET·2 min read

3 articles from 3 publishers

Economy

Spirit Airlines Collapse Disrupts Travel

Spirit Airlines abruptly ceased operations over the weekend, leaving thousands of passengers stranded and raising concerns about the future of budget air travel. The low-cost carrier accounted for about 75% of all flights at Atlantic City International Airport, where travelers are now scrambling to

May 5, 3:11 PM ET·3 min read

7 articles from 3 publishers

Automotive

Ferrari Q1 Earnings Rise on Premium Models

Ferrari reported a 4% increase in first-quarter core earnings, driven by higher demand for premium models like the F80 supercar and personalizations. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to €722 million ($844 million), slightly exceeding analyst

May 5, 10:52 AM ET·1 min read

3 articles from 3 publishers

Insurance

California Seeks $4M Penalty Against State Farm Over Wildfire Claims

California regulators are seeking millions of dollars in penalties against State Farm , the state's largest home insurer, after an investigation found the company violated state law while handling claims from the devastating 2025 Los Angeles-area wildfires. The investigation, announced Monday by Ins

May 4, 8:19 PM ET·3 min read

5 articles from 4 publishers

Legal

Musk Settles SEC Lawsuit Over Twitter Disclosure for $1.5M

Elon Musk has settled a U.S. Securities and Exchange Commission (SEC) civil lawsuit for $1.5 million , resolving allegations that he delayed disclosing his initial purchases of Twitter stock in 2022, now known as X. The SEC claimed Musk waited beyond the required deadline to reveal his initial 5% st

May 4, 8:19 PM ET·2 min read

9 articles from 5 publishers

Corporate

Amazon Expands Supply Chain Services to Competitors

Amazon announced the launch of Amazon Supply Chain Services , opening its logistics network to other businesses. The service includes freight, distribution, fulfillment, and shipping aspects, allowing companies of all sizes to use Amazon's supply chain infrastructure. The move led to a significant d

May 4, 4:46 PM ET·1 min read

3 articles from 3 publishers

Aviation

Southwest Honors Retiring Spirit Pilot After Airline Collapse

Retiring Spirit Airlines pilot Captain Jon Jackson received an emotional send-off from Southwest Airlines after his final flight was canceled due to Spirit's sudden collapse. According to multiple reports, Jackson had planned to land one last time at Baltimore-Washington International Airport but fo

May 4, 2:55 AM ET·1 min read

3 articles from 3 publishers

Corporate

GameStop Offers $56B for eBay in Hostile Bid

GameStop has made an unsolicited offer to acquire eBay for approximately $56 billion , according to multiple reports. The proposal, announced on Sunday, values eBay at $125 per share in a cash-and-stock deal, representing a premium of about 20% over eBay's Friday closing price. The offer comes from

May 4, 1:14 AM ET·3 min read

14 articles from 9 publishers

Corporate

Greg Abel Assures Continuity at Berkshire Hathaway

Greg Abel officially became CEO of Berkshire Hathaway in January 2026, following Warren Buffett's retirement announcement. The company held its annual shareholder meeting on May 4 in Omaha, Nebraska, where Abel emphasized continuity with Buffett’s legacy under the theme 'The Legacy Continues.' Abel

May 2, 11:41 AM ET·3 min read

14 articles from 4 publishers

Trade

Trump Raises EU Car Tariffs to 25%, Sets July Deadline

US President Donald Trump announced plans to increase tariffs on cars and trucks imported from the European Union (EU) to 25%, citing non-compliance with a trade deal agreed upon last year. He set a July 4 deadline for the EU to comply with the proposed trade deal or face increased tariffs, accordin

May 1, 1:31 PM ET·2 min read

14 articles from 8 publishers

Energy

Exxon, Chevron Q1 Profits Fall Amid Iran War Disruptions

Exxon Mobil and Chevron reported lower first-quarter profits on Friday, as disruptions from the Iran war took a toll on their earnings despite both companies beating Wall Street expectations. The companies attributed the declines to financial hedges that backfired due to supply chain disruptions cau

May 1, 11:37 AM ET·2 min read

5 articles from 4 publishers

Corporate

Apple Beats Earnings Forecasts Amid Leadership Transition

Apple Inc. reported strong second-quarter earnings on Thursday, surpassing Wall Street expectations despite ongoing supply chain constraints. The tech giant announced $111.2 billion in revenue for the quarter ending March 28, exceeding analysts' estimates of $109.66 billion. During a conference call

May 1, 3:24 AM ET·2 min read

5 articles from 4 publishers

Corporate

AstraZeneca Invests £300m in UK After Trade Deal

AstraZeneca has announced plans to invest £300 million in research and development facilities in Cambridge and Macclesfield, marking a significant reversal from its previous decision to pause investments in the UK. According to The Guardian and BBC , this investment includes completing the Rosalind

Apr 30, 10:46 AM ET·2 min read

4 articles from 3 publishers

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