American Airlines planes are seen at gates at LaGuardia Airport ahead of the Thanksgiving holiday, in New York City, U.S., November 21, 2023. Shannon Stapleton | Reuters Airlines expect record traveler numbers and revenues in 2024 but will continue to be constrained by the high cost of capital and limited capacity, the International Air Transport … Read more
The Hamburg flag flies in front of Hapag-Lloyd containers on the Hapag-Lloyd containership “Berlin Express” at Burchardkai in the Port of Hamburg. Marcus Brandt | Picture Alliance | Getty Images MSC, the world’s largest shipping carrier, said it is no longer traveling through the Suez Canal after its container ship, the MSC PALATIUM III, was … Read more
General Motors’ Cruise on Thursday announced internally that it will lay off 900 employees, or 24% of its workforce, the company confirmed to CNBC. The layoffs, which primarily affected commercial operations and related corporate functions, are the latest turmoil for the robotaxi startup and come one day after Cruise dismissed nine “key leaders” for the … Read more
The U.S. Department of Transportation on Monday said it fined Southwest Airlines $140 million for violating consumer protection laws during last year’s holiday meltdown that stranded millions of customers following severe winter weather. The DOT said the fine is 30 times larger than any fine it has issued for consumer protection violations. It includes a … Read more
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. Steve Fecht for Chevrolet DETROIT — General Motors plans to lay off about 1,300 workers in Michigan starting early next year due to vehicles they produce … Read more
Business is largely back to normal along the global supply chain, including where it all begins for the Care Bear: the factory floor in China. Anward Shen, owner of An’Best Toys in China, which produces the plush toys for U.S. retailer Basic Fun!, said the cost of making a Care Bear is back to where … Read more
Southwest Airlines CEO Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange on Dec. 9, 2021. Brendan McDermid | Reuters With the peak Christmas travel season just days away, Southwest Airlines‘ CEO vowed that the carrier will not have a repeat of last year’s meltdown that stranded thousands of … Read more
Starbucks is facing multiple challenges in major markets both internationally and in the U.S., making shareholders like us wonder if it’s a good idea to sell shares before the company’s next earnings report, which is expected in late January. “Starbucks is what I call a tough own right now,” Jim Cramer said Tuesday during the … Read more
Herman Narula, co-founder and CEO of Improbable, speaks during a session at the Web Summit in Lisbon. Henrique Casinhas | Sopa Images | Lightrocket | Getty Images Metaverse company Improbable has sold one of its key gaming ventures to London-listed video game developer Keywords Studios for £76.5 million ($97.1 million). The company closed the deal … Read more
A Rite Aid store stands in Brooklyn on August 28, 2023 in New York City. Spencer Platt | Getty Images The Federal Trade Commission proposed to bar Rite Aid from using facial recognition software in its drugstores for five years to settle allegations it improperly used the technology to identify shoplifters, the agency said Tuesday. … Read more
