The retail industry in the United States is undergoing a seismic shift characterized by a wave of store closures unlike any seen in recent years. In 2024, retailers shuttered a staggering 7,325 locations, marking the highest closure rate since the onset of the COVID-19 pandemic, when nearly 10,000 stores went dark in 2020. The situation
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Boeing’s recent announcement regarding its anticipated financial losses highlights the turbulence the aerospace giant continues to face. The company projects a staggering loss of approximately $4 billion for the fourth quarter of 2023. This dismal outlook compounds the difficulties Boeing has grappled with as the year unfolded, including a serious midair incident early in January
In a significant pivot aimed at catering to a growing global digital audience, CNN is set to lay off several hundred employees. This strategic move by Warner Bros. Discovery reflects a broader trend within the media landscape, where traditional broadcasting is increasingly overshadowed by digital consumption. The transition is not merely a reaction to economic
Netflix recently announced significant price hikes for its subscription plans in the U.S., which marks another step in a broader trend affecting the streaming industry. Effective from the start of the new billing cycle, the standard ad-free plan will rise from $15.49 to $17.99 per month. Meanwhile, the ad-supported plan—designed to capture a more budget-conscious
In a bold move aiming to revolutionize professional basketball, a coalition of high-profile investors is in discussions to establish an international basketball league that could rival the NBA. This venture, if successful, could reshape the landscape of basketball as we know it. The ambition to raise approximately $5 billion signals the serious intent behind this
Recently, the Federal Trade Commission (FTC) has made headlines for initiating a lawsuit against PepsiCo, a key player in the food and beverage industry, for alleged price discrimination practices. The claim suggests that PepsiCo has provided one unnamed retailer, widely understood to be Walmart based on insider reports, with preferential pricing that is not extended
On Friday, the Federal Aviation Administration (FAA) announced that SpaceX’s ambitious Starship rocket program would remain grounded due to an ongoing investigation into the catastrophic midflight failure that occurred during its most recent test flight. This unfortunate incident not only led to the destruction of the rocket shortly after launch but also forced commercial airlines,
As we delve into the landscape of autonomous vehicles in 2023, Amazon’s Zoox stands at a crucial juncture, poised to make significant strides in the commercialization of its robotaxi service. The company’s co-founder and Chief Technology Officer, Jesse Levinson, has expressed optimism about expanding operations and launching public rides sooner than expected. Despite facing industry-wide
The recent lawsuit filed by the Federal Trade Commission (FTC) against Deere & Company has unveiled a contentious battle over repair rights in the agricultural industry. With claims of monopolistic practices and restricted access to essential repair tools, this case could reshape the landscape of equipment repair for farmers, who depend on timely service to
In the realm of space exploration, the race to return humans and payloads to the Moon has intensified in recent years, signaling the dawn of a new era. At the forefront of this endeavor is Texas-based Firefly Aerospace, a company aiming to carve out its niche in lunar transportation. The company has embarked on a