Business

392 summaries

All (392)Corporate (164)Economy (67)Automotive (26)Markets (24)Legal (23)Technology (23)

Airlines Raise Fares Amid Jet Fuel Price Surge

Airlines worldwide are raising fares and adjusting operations in response to a surge in jet fuel prices driven by the ongoing U.S.-Israeli conflict with Iran. Jet fuel prices have doubled from $85–$90 per barrel to $150–$200, significantly impacting operating costs for airlines, where fuel accounts

Mar 10, 3:15 PM ET Est. Read: 3 Mins

6 articles from 5 publishers

BusinessCorporate

Volkswagen Plans 50,000 Job Cuts by 2030

Volkswagen announced plans to cut 50,000 jobs in Germany by 2030 , citing a significant drop in profits due to US tariffs and declining sales in key markets. The job cuts will affect all 10 of the automaker's brands, including Porsche, Audi, Lamborghini, and Bentley. The company reported a 54% de

Mar 10, 3:15 PM ET Est. Read: 2 Mins

3 articles from 3 publishers

BusinessLegal

Sony Faces £2bn UK Lawsuit Over PlayStation Digital Prices

Sony is facing a £2 billion ($2.7 billion) class-action lawsuit in the UK, with millions of PlayStation users alleging that they have been victims of "excessive and unfair" download charges over nearly a decade. The case, brought by consumer campaigner Alex Neill on behalf of an estimated 12.2 mi

Mar 10, 1:19 PM ET Est. Read: 2 Mins

3 articles from 3 publishers

More Business Summaries

Corporate

Uber Expands Women-Only Ride Feature Nationwide

Uber has launched its 'Women Drivers' feature nationwide, allowing both female riders and drivers to be matched with each other. The option is part of the company's efforts to address safety concerns but comes amid legal challenges from male drivers who argue it is discriminatory. The feature all

Mar 9, 4:57 PM ET·4 min read

6 articles from 6 publishers

Media

Scott MacFarlane Exits CBS News

Scott MacFarlane, a prominent justice correspondent for CBS News , announced his departure from the network on Monday. In an email to colleagues, MacFarlane stated that the decision was his own and expressed gratitude for the opportunity to work with talented professionals at CBS. The move comes a

Mar 9, 4:03 PM ET·2 min read

4 articles from 4 publishers

Technology

Nscale Raises $2B at $14.6B Valuation

Nscale, a British AI infrastructure company backed by Nvidia, has raised $2 billion in funding at a valuation of $14.6 billion. This makes it one of Europe's latest decacorns alongside Helsing and Mistral AI. The Series C round was led by Aker ASA and 8090 Industries, with participation from Astra

Mar 9, 12:37 PM ET·2 min read

3 articles from 3 publishers

Corporate

Novo Nordisk Settles with Hims & Hers

Novo Nordisk and U.S. telehealth company Hims & Hers have settled their legal dispute by agreeing to sell Novo's weight-loss drugs Wegovy and Ozempic through Hims' platform. The Danish drugmaker announced the deal on Monday, marking a turnaround from February when it sued Hims over a $49 compounded

Mar 9, 11:19 AM ET·1 min read

5 articles from 5 publishers

EconomyCONFLICTING REPORTS

Stocks Tumble as Oil Prices Surge Amid Iran War

U.S. stocks tumbled on Monday as oil prices surged above $100 a barrel , driven by the ongoing war in Iran and its impact on global oil supplies. The S&P 500 slid 88 points, or 1.3% , to 6,652 in early trading, while the Dow Jones Industrial Average plunged 632 points, or 1.3% , to 46,870 . The Na

Mar 9, 11:19 AM ET·2 min read

3 articles from 3 publishers

Corporate

Live Nation Settles Antitrust Case with DOJ

Live Nation Entertainment has reached a tentative settlement with the U.S. Department of Justice (DOJ) to resolve an antitrust lawsuit that accused the company of monopolizing the live events industry. The agreement, announced on Monday, comes just days after the trial began in federal court in Manh

Mar 9, 11:19 AM ET·5 min read

14 articles from 13 publishers

Economy

Oil Prices Surge Past $100 Amid Iran-Israel Conflict

Crude oil prices have surged past $100 per barrel for the first time since Russia's invasion of Ukraine, driven by escalating conflict between Iran and Israel. This surge has led to a significant increase in gas prices across the U.S., with the national average reaching around $3.45 per gallon. T

Mar 9, 6:09 AM ET·6 min read

57 articles from 21 publishers

Automotive

Ford Recalls Nearly 1.74 Million Vehicles Due to Rearview Camera Display Issues

Ford has issued two recalls affecting nearly 1.74 million vehicles in the U.S., citing problems with rearview camera displays, according to notices published by the National Highway Traffic Safety Administration (NHTSA). The first recall impacts certain 2021-2026 Ford Broncos and 2021-2024 Ford Edge

Mar 7, 5:25 PM ET·2 min read

6 articles from 6 publishers

Retail

Saks Global to Close 15 More Department Stores During Bankruptcy Restructuring

Saks Global Inc., the parent company of luxury retailers Saks Fifth Avenue and Neiman Marcus, announced plans to close an additional 15 department stores as part of its Chapter 11 bankruptcy restructuring. The closures are aimed at focusing on more profitable locations and trimming debt. The comp

Mar 6, 11:21 PM ET·2 min read

3 articles from 3 publishers

Markets

Stocks Plunge as Oil Surges on Iran War Fears

U.S. stocks fell sharply on Thursday as oil prices spiked due to geopolitical tensions in the Middle East, raising concerns about inflation and global economic stability. The Dow Jones Industrial Average briefly dropped more than 1,100 points before finishing with a loss of 784 points (1.6%). The

Mar 6, 7:38 PM ET·3 min read

26 articles from 12 publishers

CorporateMIXED REPORTS

Nvidia Sets $4 Million Target Cash Bonus for CEO Jensen Huang Under Fiscal 2027 Plan

Nvidia has adopted a new variable compensation plan for fiscal 2027 that sets a target cash bonus of $4 million for CEO Jensen Huang, according to a regulatory filing on Friday. The plan, approved by Nvidia's compensation committee on March 2, ties executive cash bonuses to the achievement of specif

Mar 6, 5:45 PM ET·2 min read

4 articles from 3 publishers

MarketsMIXED REPORTS

Private Credit Concerns Rise Among Wall Street Leaders

Wall Street titans are increasingly expressing concern over the state of private credit, with some drawing parallels to the conditions that led up to the 2008 financial crisis. The disquiet is particularly uncomfortable for Larry Fink, CEO of BlackRock, as his firm has aggressively moved into privat

Mar 6, 3:28 PM ET·2 min read

3 articles from 3 publishers

Media

Axel Springer to Acquire Telegraph Media Group for £575 Million

Axel Springer has agreed to acquire Telegraph Media Group (TMG) for £575 million ($766.3 million), ending years of uncertainty over the newspaper's ownership and scuttling a rival bid from Daily Mail and General Trust (DMGT). The German media group, which owns titles including Bild, Die Welt, Politi

Mar 6, 12:48 PM ET·2 min read

7 articles from 6 publishers

Markets

South Korea Stock Market Volatility Amid Iran Conflict

The South Korean stock market experienced significant volatility this week amid escalating tensions in the Iran conflict. According to multiple reports, the benchmark Korea Composite Stock Price Index (KOSPI) tumbled more than 12% on Wednesday, marking its steepest one-day decline since September 20

Mar 5, 10:05 PM ET·2 min read

8 articles from 3 publishers

EconomyMIXED REPORTS

South African Ports Prepare for Potential Surge in Shipping Traffic Amid Middle East Conflict

South African ports are preparing for a potential surge in shipping traffic as conflict in the Middle East escalates and threatens traditional trade routes. On Monday, Iran shut down the Strait of Hormuz, warning it would fire at any vessel passing through the strategic waterway. The Gulf route h

Mar 5, 10:05 PM ET·2 min read

3 articles from 3 publishers

Corporate

Paramount CEO Assures CNN's Editorial Independence Amid Acquisition Concerns

Paramount Skydance CEO David Ellison has assured that CNN’s editorial independence will be maintained following his company’s acquisition of Warner Bros. Discovery, which includes both CNN and CBS News. This pledge comes amid widespread concerns about the future direction of the news networks under

Mar 5, 10:04 PM ET·2 min read

7 articles from 6 publishers

Corporate

Berkshire Hathaway Resumes Share Buybacks as New CEO Abel Reinforces Buffett's Principles

Berkshire Hathaway has resumed share buybacks for the first time since May 2024, marking a significant development as new CEO Greg Abel reinforces Warren Buffett's long-standing principles. The company announced the resumption of repurchases on Wednesday, with Class A shares initially falling but la

Mar 5, 3:48 AM ET·2 min read

6 articles from 4 publishers

Corporate

Block Announces Layoffs of 4,000 Workers Citing AI Efficiency Gains

Block Inc. announced it will lay off 4,000 workers , nearly half its staff, citing advances in artificial intelligence that allow smaller teams to be more productive. The financial technology company, led by CEO Jack Dorsey, said in a letter to shareholders that AI has "changed what it means to buil

Mar 5, 3:48 AM ET·2 min read

6 articles from 6 publishers

Corporate

Elliott Investment Management Takes $1 Billion Stake in Pinterest, Betting on AI Growth

Elliott Investment Management has taken a $1 billion stake in Pinterest, marking a significant vote of confidence in the social media platform's AI-driven growth strategy. The activist investor first invested in Pinterest in 2022. Pinterest announced the financial boost on Tuesday, with CEO Bill

Mar 5, 3:48 AM ET·5 min read

3 articles from 3 publishers

Legal

High-Stakes Antitrust Trial Against Live Nation and Ticketmaster Begins

The high-stakes antitrust trial against Live Nation Entertainment and its subsidiary Ticketmaster began on Tuesday in a New York federal court. The Department of Justice (DOJ), along with attorneys general from 39 states and Washington D.C., alleges that the companies have engaged in anticompetitive

Mar 5, 3:47 AM ET·5 min read

7 articles from 7 publishers

Corporate

United Airlines Updates Policy to Require Headphones for Audio/Video Use

United Airlines has updated its contract of carriage to require all passengers to use headphones when listening to audio or video content on personal electronic devices during flights. The policy change was made on February 27th, according to reports from CBS News , Fox News Digital , and The New Yo

Mar 5, 3:47 AM ET·2 min read

4 articles from 4 publishers

...

Page 16 of 17

Business