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China Confirms Boeing Jet Purchase After Trump-Xi Summit

China has confirmed its intention to purchase 200 Boeing jets following a summit between US President Donald Trump and Chinese President Xi Jinping in Beijing last week. The deal includes supply guarantees for aircraft engine parts, as reported by BBC . According to the Chinese Commerce Ministry, bo

May 20, 3:15 AM ET Est. Read: 3 Mins

4 articles from 4 publishers

BusinessCorporate

Netflix Abandons Warner Bros Deal

Netflix has abandoned its pursuit of Warner Bros. Discovery after refusing to counter Paramount Skydance’s revised offer of $111 billion in February. According to Time , Netflix co-CEO Greg Peters stated that the company walked away from the deal because it didn’t align with their value proposition

May 19, 6:24 AM ET Est. Read: 2 Mins

3 articles from 3 publishers

BusinessCorporate

Standard Chartered to Cut Over 7,500 Jobs by 2030

Standard Chartered plans to cut more than 7,500 jobs by 2030 , according to multiple reports. The London-headquartered bank aims to reduce over 15% of its corporate function roles through automation and AI adoption as part of a strategy to boost profitability and efficiency. The job cuts are primari

May 19, 4:08 AM ET Est. Read: 2 Mins

10 articles from 5 publishers

More Business Summaries

Corporate

DOJ Drops Fraud Charges Against Adani After $10B US Investment Pledge

Indian billionaire Gautam Adani saw criminal fraud charges against him dropped by the U.S. Justice Department after he pledged $10 billion in investments and 15,000 jobs in the United States. The charges, filed in November 2024 during President Joe Biden's administration, accused Adani and his assoc

May 19, 12:25 AM ET·2 min read

9 articles from 7 publishers

Corporate

Lululemon Accuses Founder Wilson of Harming Brand

Lululemon Athletica has publicly accused its founder Chip Wilson of making escalating demands that led to a breakdown in settlement talks, according to regulatory filings. The company delayed filing its definitive proxy statement in hopes of reaching an agreement with Wilson, who founded the brand i

May 18, 1:53 PM ET·2 min read

3 articles from 3 publishers

Corporate

NextEra to Acquire Dominion in $67B Deal

NextEra Energy announced on Monday its acquisition of Dominion Energy in an all-stock deal valued at approximately $67 billion . This merger aims to create the world's largest regulated utility business, driven by rising electricity demand from AI and data center growth. The combined company will se

May 18, 1:53 PM ET·2 min read

10 articles from 6 publishers

Media

BBC's New Chief Warns of Tough Choices Amid Financial Challenges

The BBC's new director general Matt Brittin warned staff of 'tough choices' ahead on his first day, as the broadcaster faces significant financial challenges and operational strikes. According to multiple reports, Brittin succeeds Tim Davie who resigned last year following criticism over a misleadin

May 18, 9:58 AM ET·1 min read

6 articles from 4 publishers

Economy

Ryanair Warns of Flat Fares Amid Fuel Supply Concerns

Ryanair has warned investors that annual profits may be pressured by the effects of the US-Iran war, with economic uncertainty likely to wipe out any growth in fares during its peak summer months. The airline had previously predicted low single-digit growth in fare costs but now expects pricing to r

May 18, 6:05 AM ET·2 min read

3 articles from 3 publishers

Corporate

Starbucks Cuts 300 US Corporate Jobs in Restructuring

Starbucks announced on Friday that it will lay off 300 corporate employees in the U.S. and close regional offices as part of its ongoing restructuring efforts under CEO Brian Niccol. The job cuts primarily affect support functions such as marketing, human resources, and supply chain management. No c

May 15, 11:13 AM ET·1 min read

7 articles from 7 publishers

CorporateCONFLICTING REPORTS

British Gas to Pay £20M After Prepayment Meter Scandal

British Gas owner Centrica has agreed to pay £20 million into a redress fund following an investigation by regulator Ofgem. The probe found that British Gas installed prepayment meters in the homes of vulnerable customers without their consent, potentially leading to supply cut-offs if payments were

May 15, 4:50 AM ET·2 min read

3 articles from 3 publishers

Corporate

DOJ Nears Dropping Adani Fraud Charges

The U.S. Justice Department is reportedly close to dropping criminal fraud charges against Indian billionaire Gautam Adani, according to multiple sources familiar with the matter. Adani and his nephew Sagar Adani have agreed to pay a combined $18 million in penalties to settle a civil fraud lawsuit

May 15, 1:05 AM ET·2 min read

6 articles from 4 publishers

Automotive

Xpeng Eyes Volkswagen Factory as China Expands in Europe

Chinese electric vehicle (EV) manufacturer Xpeng is exploring the acquisition of a factory from Volkswagen in Europe, according to reports from The Guardian , TimesLIVE , and Reuters . This development comes as Chinese automakers increasingly expand their presence in Europe, while traditional Europe

May 15, 1:05 AM ET·2 min read

3 articles from 3 publishers

Automotive

Honda Posts First Annual Loss in 70 Years

Honda has reported its first annual loss in nearly 70 years as a listed company, attributing the setback primarily to failed investments in electric vehicle (EV) markets and changes in US policy. According to multiple reports, the Japanese car giant's operating loss for the year ending March totaled

May 14, 11:48 AM ET·3 min read

5 articles from 5 publishers

Corporate

Cisco Shares Surge 19% on AI Demand and Job Cuts

Cisco Systems' shares surged nearly 19% in premarket trading on Thursday following the company's announcement of approximately 4,000 job cuts and an increased revenue forecast driven by strong demand for AI infrastructure. According to multiple reports, this surge could propel Cisco's stock to a rec

May 14, 7:39 AM ET·2 min read

4 articles from 4 publishers

Aviation

Air India Cuts International Flights Amid Iran War and High Fuel Prices

Air India is significantly reducing its international flights during the peak travel season from June to August due to airspace restrictions caused by the Iran war and record-high jet fuel prices. The airline will cut nearly 140 flights per week, which translates to a 27% reduction in its total inte

May 14, 5:38 AM ET·3 min read

5 articles from 3 publishers

Retail

Coles Found Guilty of Misleading Discounts

An Australian federal court has ruled that supermarket giant Coles misled shoppers by advertising fake discounts through its well-known 'Down Down' promotion. Justice Michael O'Bryan found that 13 out of 14 sample products did not represent genuine savings, as prices were not maintained at the 'was'

May 14, 3:32 AM ET·2 min read

5 articles from 4 publishers

Corporate

Samsung Faces Largest Strike Over Bonus Dispute

Samsung Electronics is on the brink of its largest-ever strike as wage negotiations with its labor union collapsed over bonus payouts and structural issues within its semiconductor divisions. The dispute has been exacerbated by the global AI boom, which has significantly increased demand for memory

May 14, 1:49 AM ET·2 min read

32 articles from 7 publishers

CorporateMIXED REPORTS

Trump Tower Australia Plan Scrapped Over 'Toxic' Brand

The planned Trump International Hotel & Tower in Australia's Gold Coast has been scrapped less than three months after its announcement. According to multiple reports, Altus Property Group CEO David Young cited the 'toxic' image of the Trump brand amid global tensions, particularly the Iran war, as

May 13, 7:33 PM ET·1 min read

5 articles from 5 publishers

Corporate

Calbee Switches to Black-and-White Packaging Due to Ink Shortage

Calbee Inc., a Tokyo-based snack manufacturer known for its potato chips and cereal, will switch to black-and-white packaging for 14 products starting May 25. This change is due to an ink ingredient shortage caused by the war in Iran, which has disrupted the supply of naphtha, an oil-derived product

May 13, 4:47 PM ET·1 min read

3 articles from 3 publishers

Labor

United Flight Attendants Ratify Contract with 31% Pay Hike

United Airlines flight attendants have ratified a new five-year labor contract that includes an average 31% pay increase , boarding pay worth an additional 7% to 8% in compensation on average, and $ 741 million in retroactive pay. The agreement, which was ratified on Tuesday according to CBS News, c

May 13, 2:48 PM ET·2 min read

3 articles from 3 publishers

Economy

US Home Sales Flat in April Amid Affordability Challenges

U.S. existing home sales were essentially flat in April, rising just 0.2% from March to a seasonally adjusted annual rate of 4.02 million units , according to the National Association of Realtors (NAR). The figure fell short of economists' expectations and was unchanged compared to April last year.

May 12, 5:07 PM ET·1 min read

3 articles from 3 publishers

Corporate

eBay Rejects GameStop's $56B Offer

eBay has rejected GameStop 's $56 billion offer to acquire the company, with eBay Chairman Paul Pressler stating that the proposal is 'neither credible nor attractive.' According to multiple reports, eBay's board of directors and its independent advisors thoroughly reviewed GameStop's unsolicited bi

May 12, 2:48 PM ET·1 min read

3 articles from 3 publishers

Corporate

EBay Rejects GameStop's $56B Offer

EBay has rejected GameStop's $56 billion takeover offer, describing it as 'neither credible nor attractive.' The proposal included a mix of cash and stock but was deemed financially uncertain by eBay’s board. GameStop had offered to acquire the online marketplace for $125 per share but fell short in

May 12, 9:10 AM ET·4 min read

6 articles from 5 publishers

Corporate

Starmer to Fully Nationalize British Steel

British Prime Minister Keir Starmer announced plans to fully nationalize British Steel under new legislation this week, emphasizing the strategic importance of steelmaking for economic resilience. The government took operational control from Chinese owners Jingye in April 2025 to prevent closure of

May 11, 8:35 AM ET·2 min read

5 articles from 3 publishers

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