Business

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Spirit Airlines Shuts Down After Bailout Fails

Spirit Airlines officially ceased operations on Saturday, May 4, 2026, after failing to secure a $500 million bailout from the Trump administration. The shutdown leaves over 17,000 employees without jobs and affects thousands of passengers who had booked flights with the airline. The collapse comes

Apr 18, 1:42 AM ET Est. Read: 4 Mins

61 articles from 16 publishers

BusinessCorporate

Judge Blocks Nexstar-Tegna Merger Over Antitrust Concerns

A federal judge has blocked Nexstar Media Group's $6.2 billion takeover of rival Tegna , according to multiple reports. Chief Judge Troy Nunley of the Eastern District Court of California issued a preliminary injunction on Friday, requiring Nexstar to operate the acquired stations separately until a

Apr 18, 12:01 AM ET Est. Read: 3 Mins

6 articles from 6 publishers

BusinessLegal

Carnival Ordered to Pay $300K for Overserving Passenger

A federal jury in Miami ordered Carnival Cruise Line to pay $300,000 to a California woman who was overserved alcohol and subsequently injured on one of its ships. The jury found Carnival 60% liable for negligence after Diana Sanders, a nurse from Sacramento, consumed at least 14 shots of tequila ov

Apr 17, 5:21 PM ET Est. Read: 1 Mins

4 articles from 3 publishers

More Business Summaries

Corporate

Air New Zealand to Offer Economy Bunk Beds

Air New Zealand will introduce triple-tier bunk bed sleep pods for economy-class travelers on its long-haul flights between Auckland and New York starting November 2026. The airline's new Boeing 787-9 Dreamliner aircraft will feature six curtained Skynest pods arranged in a triple-bunk style layout,

Apr 17, 8:14 AM ET·2 min read

5 articles from 5 publishers

Corporate

Hastings to Exit Netflix Board Amid Growth Questions

Netflix co-founder Reed Hastings announced he will not stand for re-election as chairman at the company's annual meeting in June, ending his tenure after nearly three decades. The news came alongside Netflix's first-quarter earnings report, which showed a revenue increase of 16% to $12.3 billion but

Apr 16, 5:21 PM ET·4 min read

8 articles from 7 publishers

Energy

UK Expands Energy Bill Support for Manufacturers

The UK government has expanded its British Industrial Competitiveness Scheme (BICS) to help more manufacturers with their energy bills. The scheme, which will start in April 2027, aims to cut electricity costs by up to 25% for around 10,000 energy-intensive firms in sectors such as steel and pharmac

Apr 16, 3:23 PM ET·2 min read

3 articles from 3 publishers

Economy

PepsiCo's Price Cuts Boost Sales Amid Economic Uncertainty

PepsiCo reported an 8.5% increase in first-quarter sales, reaching $19.4 billion (£14.4 billion), after implementing price cuts on popular snacks like Doritos and Lay's by up to 15%. This strategy helped the company win back customers who had been struggling with rising costs since 2022. According t

Apr 16, 1:06 PM ET·1 min read

4 articles from 3 publishers

Corporate

Snap to Cut 16% Workforce, Cites AI Advancements

Snap Inc., the parent company of Snapchat, announced on Wednesday that it will lay off approximately 16% of its global workforce, affecting about 1,000 employees . The company also plans to forgo filling around 300 open positions , as reported by multiple sources including UPI and Reuters. Evan Spie

Apr 15, 6:44 PM ET·2 min read

4 articles from 4 publishers

Legal

Jury Finds Live Nation a Monopoly

A federal jury in Manhattan has ruled that Live Nation Entertainment and its subsidiary, Ticketmaster, operated an illegal monopoly over concert venues and live event markets. The verdict came after a five-week trial and four days of deliberations. The ruling found that Ticketmaster had overcharged

Apr 15, 6:44 PM ET·1 min read

11 articles from 10 publishers

Economy

S&P 500 Hits Record High Amid Iran War Concerns

The S&P 500 hit a new record high on Wednesday, climbing 56 points , or 0.8% , to close at 7,023 . The Nasdaq Composite Index also ended in record territory, jumping 377 points , or 1.6% , to 24,016 , eclipsing its previous record of 23,958 in October 2025. The rally marks a sharp reversal from la

Apr 15, 4:23 PM ET·1 min read

5 articles from 3 publishers

Corporate

Allbirds Pivots to AI Amid Stock Surge

Allbirds, the eco-friendly shoe company, announced a dramatic shift from footwear to artificial intelligence infrastructure on Wednesday. The San Francisco-based firm secured a $50 million agreement with an institutional investor to fund this pivot and will rebrand as NewBird AI. The company's stock

Apr 15, 2:37 PM ET·2 min read

8 articles from 8 publishers

Corporate

American Airlines Rejects United Merger Talks

American Airlines has rejected merger talks with United Airlines, stating that such a deal would be negative for competition and consumers. The potential merger faced significant regulatory hurdles and opposition from various stakeholders. The meeting between United Airlines CEO Scott Kirby and Pres

Apr 15, 8:47 AM ET·1 min read

10 articles from 4 publishers

Corporate

Court Orders Rinehart to Share Mining Royalties

Australia's Supreme Court ruled on Wednesday that Gina Rinehart's Hancock Prospecting must pay royalties to the heirs of Peter Wright and Don Rhodes from its Hope Downs iron ore mine operations. The decision concludes a lengthy legal battle over mining rights and royalty agreements. The court determ

Apr 15, 1:30 AM ET·2 min read

9 articles from 4 publishers

Corporate

Disney Cuts 1,000 Jobs Across Company

Walt Disney Co. announced it will cut approximately 1,000 jobs across multiple divisions, including marketing, studio and television business, ESPN, products and technology, and corporate functions. The layoffs began this week under new CEO Josh D’Amaro's leadership to streamline operations amid dec

Apr 14, 6:28 PM ET·2 min read

3 articles from 3 publishers

Media

Nonprofit Saves Pittsburgh Post-Gazette

The Pittsburgh Post-Gazette , a newspaper with roots dating back to 1786, has been saved from closure by the Venetoulis Institute for Local Journalism. The nonprofit organization announced Tuesday it had acquired the struggling paper just days before its planned shutdown on May 3. According to The

Apr 14, 3:35 PM ET·2 min read

3 articles from 3 publishers

Technology

Amazon to Acquire Globalstar for $11.57B

Amazon announced on Tuesday that it would acquire Globalstar for $11.57 billion, a move aimed at bolstering its fledgling satellite internet business and challenging SpaceX's dominant Starlink service. The deal gives Amazon access to Globalstar’s network of two dozen satellites, which will support t

Apr 14, 12:49 PM ET·2 min read

7 articles from 5 publishers

Corporate

BP Flags Exceptional Trading Results Amid Iran War Volatility

BP has announced that it expects 'exceptional' earnings from its oil trading desk in the first quarter of its financial year, benefiting from volatile energy markets triggered by the US-Israeli war on Iran. According to multiple reports, the company's refining margins have strengthened, and its oil

Apr 14, 8:09 AM ET·4 min read

5 articles from 3 publishers

Corporate

Evergrande Founder Pleads Guilty to Fraud

Hui Ka Yan, the founder of China Evergrande Group , pleaded guilty to charges including fundraising fraud and bribery after nearly five years in detention. The plea marks a pivotal moment in the fallout from Evergrande's collapse, which has shaken China's property sector and left investors and domes

Apr 14, 6:17 AM ET·1 min read

4 articles from 3 publishers

Economy

Global Markets Surge on US-Iran Peace Hopes

Global stock markets surged on Thursday, with optimism about renewed US-Iran peace talks overshadowing geopolitical concerns. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9%, putting the benchmark on track for a third consecutive day of gains. Japan's Nikkei climbed 2.2% to a fr

Apr 14, 2:42 AM ET·2 min read

21 articles from 7 publishers

Corporate

LVMH Reports Q1 Sales Drop Amid Middle East Conflict

LVMH, the French luxury giant, reported a 1% decline in quarterly sales on Monday, attributing part of the impact to the ongoing war in Iran and its effect on Middle Eastern markets. The conflict led to a negative impact of around 1% on total group sales, with significant drops in mall traffic and t

Apr 13, 12:42 PM ET·2 min read

6 articles from 3 publishers

Corporate

Lafarge Guilty of Financing Terrorism in Syria

French cement maker Lafarge , now owned by Swiss conglomerate Holcim, was found guilty on Monday of financing terrorism and breaching European sanctions to keep its plant in northern Syria operational during the civil war. According to multiple reports, Lafarge paid approximately $6.5 million (€5.59

Apr 13, 10:42 AM ET·2 min read

5 articles from 5 publishers

Economy

USPS Suspends Pension Contributions Amid Financial Crisis

The U.S. Postal Service (USPS) has suspended its contributions to the Federal Employees Retirement System (FERS), a pension plan for its workers, as it faces mounting financial losses that put it at risk of running out of funds. According to CBS News , USPS spokesman David Walton stated, 'The United

Apr 9, 6:11 PM ET·2 min read

4 articles from 3 publishers

Automotive

Tesla Plans Smaller EV to Counter Chinese Rivals

Tesla is reportedly developing a smaller, lower-cost electric vehicle (EV) to address slowing demand and intensify pressure from Chinese rivals like BYD. According to Reuters , the new model aims to tackle market challenges, particularly in China, where it is expected to be produced first. The plan

Apr 9, 1:47 PM ET·2 min read

6 articles from 4 publishers

Legal

Jo Malone Sued for £200K Over Zara Perfume Collaboration

Jo Malone, the British perfumer, has been sued for more than £200,000 by Estée Lauder over the use of her name on fragrances she created for Zara. According to The Guardian , Malone expressed surprise and sadness in an Instagram video defending her right to use her own name. Estée Lauder claims that

Apr 9, 11:41 AM ET·2 min read

3 articles from 3 publishers

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Business

Spirit Airlines Shuts Down After Bailout Fails

Judge Blocks Nexstar-Tegna Merger Over Antitrust Concerns