OpenAI has launched two new products: the GPT Store and ChatGPT Team. The GPT Store functions as OpenAI’s version of the App Store, enabling users to list and download personalized chatbots, or GPTs, that they’ve created. The store already has 3 million GPTs built by the community, and a GPT builder revenue program is set… Continue reading OpenAI debuts GPT Store, new business tier after leadership fracas

Shares of Match Group, the company behind Tinder and other online dating platforms, surged by as much as 12% in Tuesday morning trading following reports that Elliott Management, an activist investing firm known for campaigns at companies like Salesforce and Pinterest, had acquired a roughly $1 billion stake in the dating company. The stock later… Continue reading Match shares surge on report activist investor Elliott takes $1 billion stake

United Airlines has reported the discovery of loose bolts on the door plugs of several Boeing 737 Max 9 planes during inspections prompted by a recent incident involving an Alaska Airlines flight using the same aircraft. Alaska Airlines confirmed the presence of “loose hardware” in its initial inspections, asserting that no aircraft would be returned… Continue reading United, Alaska Air find loose hardware on some Boeing 737 Max 9s after grounding

Berkshire Hathaway has settled a billion-dollar lawsuit with the Haslam family over accounting practices related to Pilot Travel Centers. The dispute centered around how Berkshire accounted for the value of Pilot Travel Centers, which would impact the price in a forced buyout of the Haslam family’s remaining stake in the truck-stop giant. The terms of… Continue reading Berkshire Hathaway settles suit with Haslam family over truck-stop company

Shares of Boeing experienced a sharp decline of approximately 9% following the announcement by the Federal Aviation Administration (FAA) instructing airlines to ground numerous Boeing 737 Max 9 aircraft for immediate inspections. The FAA issued the order in response to a door plug blowing out during an Alaska Airlines flight, prompting concerns about the safety… Continue reading Boeing shares tumble 9% after panel blows out midflight, FAA grounds dozens of 737 Maxes

In the past 110 years, Stanley, a renowned drinkware manufacturer known for its iconic green bottles and thermoses, experienced a transformative shift in its fortunes driven by a relatively unnoticed product— the Stanley Quencher. Although the brand had a comfortable $70 million in annual sales, the Quencher, introduced in 2016, initially struggled to gain traction.… Continue reading How a 40-ounce cup turned Stanley into a $750 million a year business

Blank Street Coffee, an emerging coffee chain with 74 locations across New York City, London, Boston, and Washington, is aiming to boost customer loyalty through its subscription program, Blank Street Regulars. Launched this summer, the program has already attracted around 5,000 paying members, with an additional 4,000 on the waiting list. For $8.99 or $17.99… Continue reading Blank Street Coffee relied on low costs to grow — now it’s betting on subscriptions

Danish shipping giant Maersk has announced the extension of its vessel diversion from the Red Sea for the “foreseeable future” due to safety concerns arising from a series of attacks by Houthi militants. The decision is a response to the evolving and highly volatile security situation, with intelligence indicating a significantly elevated security risk. Despite… Continue reading Shipping giant Maersk to divert vessels away from the Red Sea ‘for the foreseeable future’

The U.S. labor market closed out 2023 on a robust note, exceeding expectations as the Labor Department reported that employers added 216,000 positions in December, outpacing the anticipated 170,000. The unemployment rate remained steady at 3.7%, showcasing a strong hiring pace. However, the report also revealed downward revisions for November (173,000 from 173,000) and October… Continue reading U.S. payrolls increased by 216,000 in December, much better than expected

The NCAA and ESPN have entered into a new eight-year media rights deal, marking a significant increase in value, exceeding $115 million annually. This new agreement is approximately three times the worth of the previous 14-year deal, which amounted to about $40 million annually. An additional 25%, totaling $28.75 million annually, will be allocated for… Continue reading NCAA and ESPN ink 8-year, $920 million media rights deal

In 2023, billionaire investor Ken Griffin’s hedge fund strategies, managed under Citadel, delivered impressive double-digit returns, but they fell short of outperforming the S&P 500. Citadel’s multistrategy Wellington fund, after an exceptional 2022 with a 38% gain, posted a 15.3% return in 2023. The tactical trading fund and equities fund achieved gains of 14.8% and… Continue reading Ken Griffin’s hedge fund Citadel posts double-digit returns in 2023, but lags the S&P 500

In December, private sector hiring in the United States exceeded expectations, marking a robust end to the year for the resilient job market, as reported by ADP. Private payrolls experienced a substantial increase of 164,000 jobs during the month, a notable improvement from the downwardly revised 101,000 in November and surpassing the Dow Jones consensus… Continue reading Private payrolls added 164,000 in December, beating expectations, ADP says