Southwest Airlines has forecasted a potential decline in unit revenue for the third quarter of the year due to an oversupplied U.S. market, which has compelled airlines to offer discounted tickets during what is typically the most profitable season. The airline anticipates that unit revenue could decrease by up to 2% compared to the previous… Continue reading Southwest profit falls 46% as airline takes ‘urgent’ steps to increase revenue

The growing consumer demand for rapid package delivery, particularly same-day shipping, is significantly impacting retailers and shippers. A survey by AlixPartners reveals that despite the rising preference for swift delivery, it does not translate into financial benefits for retailers, with 76% of retail executives reporting an increase in delivery costs per package over the past… Continue reading Retailers shift their thinking on costly last-mile delivery as consumer need for speed raises costs

On Wednesday, stocks plummeted as disappointing reports from two major tech companies dampened investor sentiment, pushing the Nasdaq Composite towards its worst day since December 2022. The tech-heavy Nasdaq dropped 2.7%, the S&P 500 slid 1.6%, and the Dow Jones Industrial Average shed 304 points, or 0.8%. Alphabet, Google’s parent company, saw its shares fall… Continue reading Nasdaq drops nearly 3% after Tesla and Alphabet earnings, heads for worst day since late 2022: Live updates

In June, the sales of previously owned homes dropped by 5.4% compared to May, with an annualized rate of 3.89 million units, marking the slowest sales pace since December, according to the National Association of Realtors. Sales were also down 5.4% from June of the previous year. These figures reflect closed sales based on contracts… Continue reading June home sales slump, pointing to a buyer’s market as supply increases

General Motors (GM) announced further delays in its plans for all-electric vehicles (EVs), postponing the retooling of a second U.S. electric truck plant in Michigan by six months to mid-2026. This delay will prevent GM from meeting its earlier goal of having North American production capacity of 1 million EVs by 2025. During the company’s… Continue reading GM slows its EV plans again even as sales grow

Delta Air Lines CEO Ed Bastian issued an apology and offered frequent flyer miles to customers affected by the massive flight cancellations caused by an IT outage on Friday. This outage resulted in over 4,600 canceled flights from Friday through Sunday, with another 550 flights canceled by early Monday, affecting 15% of Delta’s mainline operations.… Continue reading Delta cancels hundreds more flights in struggle to recover from Microsoft outage

Berkshire Hathaway, led by Warren Buffett, reduced its Bank of America holding for the first time in four and a half years following a strong performance by the bank in 2024. The conglomerate sold 33.9 million shares of Bank of America, worth almost $1.5 billion, over three days, with an average selling price of $43.56… Continue reading Warren Buffett’s Berkshire trims Bank of America stake for the first time since 2019 after strong rally

General Motors (GM) will boost production of its Cadillac Escalade V-Series performance model as part of its updates for the 2025 model year. The new SUV will feature a 55-inch diagonal display across the dashboard, which includes a screen exclusively for the passenger. It will also offer an “executive package” for the second row, power… Continue reading GM to increase production of high-performance Cadillac Escalade V8 SUV

Global chip stocks experienced significant declines, with major players such as ASML, Nvidia, and TSMC posting notable losses amid reports of potential tighter export restrictions from the U.S. and escalating geopolitical tensions. ASML’s shares in the Netherlands dropped 11%, and Tokyo Electron’s shares in Japan closed nearly 7.5% lower. Other chip companies like Arm, AMD,… Continue reading Global chip stocks from Nvidia to ASML fall on geopolitics, Trump comments

Goldman Sachs reported stronger-than-expected profits and revenues for the second quarter, driven by robust performance in fixed income and smaller-than-anticipated loan loss provisions. The bank posted earnings of $8.62 per share, surpassing the LSEG estimate of $8.34 per share, and generated revenues of $12.73 billion, exceeding the expected $12.46 billion. This marked a 150% increase… Continue reading Goldman Sachs tops estimates on better-than-expected fixed income trading

Shares of Trump Media surged over 35% on Monday morning, following an attempted assassination of former President Donald Trump, the majority shareholder of the company, over the weekend. Trading was particularly heavy, with over 17 million shares of DJT, the owner of the Truth Social app, changing hands before 10 a.m. ET. The attempted assassination… Continue reading Trump Media shares soar more than 30% after assassination attempt

AT&T disclosed a significant data breach affecting nearly all its cellular network customers, spanning six months of call and text message records. The breach, which AT&T revealed in an SEC filing, occurred when hackers accessed and copied call logs stored on a third-party cloud platform. The compromised data includes records from May 1 to October… Continue reading AT&T says hackers stole records of nearly all cellular customers’ calls and texts