In an industry that has already been struggling with profitability, cash-strapped low-cost and deep discounter airlines are now faced with a new challenge. The impact of engine repairs, combined with a significant decrease in revenue due to an oversupply of flights, has forced airlines like Spirit Airlines, JetBlue Airways, and Frontier Airlines to reevaluate their
Business
The Food and Drug Administration has recently authorized Novavax’s updated protein-based Covid vaccine for emergency use in individuals 12 years old and older. This development opens the door for Novavax’s vaccine to compete with Pfizer and Moderna’s vaccines during the upcoming fall and winter seasons. Targeting Omicron Subvariant JN.1 Novavax’s vaccine is designed to target
General Motors’ decision to merge its all-electric BrightDrop commercial vans into the Chevrolet brand marks a strategic move aimed at boosting sales and brand recognition. By leveraging the strength of the Chevrolet name, GM hopes to enhance accessibility and increase the visibility of these electric vehicles in the market. Expansion of Sales and Service Points
The toy industry faced a significant sales slump in the first half of 2024 due to inflation, which impacted consumer spending habits. However, amid this challenging environment, one company managed to defy the odds and emerge as a market leader – Lego. The Danish toymaker reported a remarkable 13% jump in revenue, reaching 31 billion
With the upcoming National Basketball Association season just around the corner, Dallas Mavericks and New Orleans Pelicans fans are eagerly awaiting news on how they will be able to watch their favorite teams play local games. Both teams are parting ways with their regional sports networks owned by Diamond Sports, according to a recent bankruptcy
Edgar Bronfman Jr.’s recent bid for a controlling stake in Paramount Global has significant implications for the future of the company, particularly in relation to Shari Redstone’s potential involvement. If successful, Bronfman’s offer could keep Redstone close to Paramount despite her current role as non-executive chairman. The special committee at Paramount Global is set to
Cava, the Mediterranean restaurant chain, recently reported strong traffic, leading to better-than-expected quarterly earnings and revenue. The company raised its full-year outlook, prompting a 7% rise in its stock in extended trading. With the stock value more than doubling this year, Cava’s market cap now stands at around $11.6 billion. In the quarter that ended
Boeing faced a significant setback when NASA announced that the Starliner capsule would be returning from the International Space Station without the astronauts it delivered in early June. This decision marked a dramatic shift from their original plans, as the capsule was intended to be the primary choice for returning the crew. The test flight,
The Biden administration’s decision to resume offering free at-home Covid-19 tests to American households in late September comes at a crucial time as the virus continues to gain a stronger foothold in the U.S. this summer. Through COVIDtests.gov, Americans will have the opportunity to request four free tests, providing them with a vital tool in
The future of Paramount Global is hanging in the balance as the special committee has decided to extend the “go shop” period of its merger agreement with Skydance by 15 days. This extension comes as Edgar Bronfman Jr. presents a competing offer for Shari Redstone’s National Amusements, the controlling shareholder of Paramount. Initially offering $4.3