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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 Est. Read: 2 Mins

29 articles from 6 publishers

BusinessEconomy

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 Est. Read: 2 Mins

5 articles from 5 publishers

BusinessCorporate

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 Est. Read: 2 Mins

3 articles from 3 publishers

More Business Summaries

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

Automotive

Volkswagen Reports 14% Profit Drop

Volkswagen reported a 14% drop in first-quarter operating profit , falling to €2.5 billion ($2.9 billion) . The automaker cited higher U.S. tariffs, intensifying competition from Chinese car brands, and geopolitical tensions as key challenges. The company's revenue also declined by 2.5% to €75.7 bil

Apr 30, 3:11 AM ET·1 min read

9 articles from 3 publishers

Corporate

Alphabet Beats Estimates on Strong AI-Driven Cloud Growth

Alphabet reported first-quarter revenue of $109.9 billion , exceeding Wall Street estimates of $107.2 billion, according to LSEG data. The growth was driven by a surge in enterprise spending on artificial intelligence, which delivered the best quarter for its cloud unit since the AI boom began. The

Apr 29, 6:26 PM ET·3 min read

7 articles from 3 publishers

Retail

UK Bans Eucerin Ad Over Misleading Age Claim

The UK’s Advertising Standards Authority (ASA) has banned a billboard advertisement for Eucerin Hyaluron-Filler Epigenetic Serum after ruling its claim to make users look up to five years younger was misleading. The poster, displayed at London's Balham Underground station, advertised the £49 product

Apr 29, 12:55 PM ET·2 min read

3 articles from 3 publishers

Corporate

Purdue Pharma Dissolves After Judge Approves Criminal Sentence

OxyContin maker Purdue Pharma has dissolved after a federal judge approved its criminal sentence, resolving thousands of lawsuits linked to the opioid crisis. According to multiple reports, U.S. District Judge Madeline Cox Arleo delivered the sentence on Tuesday in Newark, New Jersey, following hour

Apr 28, 10:14 PM ET·3 min read

8 articles from 7 publishers

Economy

GM Raises 2026 Earnings Outlook on Tariff Refund

General Motors (GM) has raised its 2026 earnings outlook after expecting a $500 million refund from tariffs struck down by the U.S. Supreme Court, according to multiple reports. The Detroit automaker reported strong first-quarter results and adjusted its financial guidance accordingly. The refund st

Apr 28, 1:39 PM ET·2 min read

6 articles from 4 publishers

Technology

Big Tech's $600B AI Bet Faces Investor Scrutiny

Big Tech companies are set to invest approximately $600 billion into artificial intelligence this year, a historic outlay that has raised questions among investors about the return on such substantial capital expenditure. The upcoming quarterly earnings reports from Alphabet, Microsoft, Meta, and Am

Apr 28, 11:36 AM ET·4 min read

13 articles from 4 publishers

Labor

Apple to Close First Unionized US Store

Apple plans to close its first unionized U.S. store in Towson, Maryland, by June, a move that workers allege is retaliation for organizing. According to The Guardian , the International Association of Machinists and Aerospace Workers Coalition of Organized Retail Employees (IAM Core) filed an unfair

Apr 28, 11:36 AM ET·2 min read

3 articles from 3 publishers

Corporate

BP Profit More Than Doubles to $3.2 Billion

BP's first-quarter profit more than doubled year-on-year to $3.2 billion , its highest in two-and-a-half years, the British oil major reported on Tuesday. The surge was driven by exceptional oil trading results amid the Iran war, which helped boost oil prices and European majors' earnings from the e

Apr 28, 3:28 AM ET·2 min read

8 articles from 5 publishers

Corporate

Shell Acquires ARC Resources for $16.4B

Shell has agreed to acquire Canadian shale producer ARC Resources for $16.4 billion, including debt, marking its largest acquisition since buying BG Group a decade ago. The deal includes $13.6 billion in cash and shares and taking on ARC’s $2.8 billion debt. The acquisition will add approximately 37

Apr 27, 1:59 PM ET·3 min read

4 articles from 3 publishers

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Business

Markets Surge on U.S.-Iran Deal Hopes

Airlines Cut 2M Seats Amid Soaring Jet Fuel Prices