In a decisive turn of events, luxury companies Capri Holdings and Tapestry have mutually agreed to terminate their proposed merger, following significant opposition from the Federal Trade Commission (FTC). This $8.5 billion acquisition, which was initially announced in August 2023, was touted as a transformative alliance that would unite two of America’s foremost luxury conglomerates
Business
On Wednesday, Liberty Media revealed a significant shift in its corporate strategy by announcing the spin-off of non-Formula One assets into a new publicly traded entity named Liberty Live. This bold step marks a pivotal moment for the company, as it aims to streamline its focus while positioning itself for future growth. Alongside this restructuring,
Boeing has faced considerable challenges due to a recent strike involving over 32,000 machinists, which lasted more than seven weeks, bringing the company’s manufacturing operations to a standstill. The machinists, who returned to work on Tuesday, had previously rejected an initial pay proposal, opting instead for a new contract that included a substantial 38% pay
In the arena of streaming services, Netflix has successfully navigated a transformative journey since the introduction of its ad-supported tier. As of the latest reports, this offering has accumulated an impressive 70 million global monthly active users within just two years of its launch. The strategic decision to introduce a cheaper, ad-supported subscription was a
In a year characterized by unpredictability and fierce competition, General Motors (GM) has emerged as a surprising standout within the automotive sector, consistently exceeding Wall Street’s expectations. With its stock price skyrocketing by 54.7% in anticipation of the latest earnings report, GM outshines not only its legacy rivals but also dominant forces in electric vehicles,
The Philadelphia Phillies have recently made headlines by securing approximately $500 million in fresh capital from an array of investors. This transaction highlights not only the financial strength of the team but also the growing valuation of Major League Baseball franchises in general. With this infusion, the total capital raised for the organization is nearing
The highly anticipated release of Universal’s film adaptation of the beloved Broadway musical “Wicked” on November 22, 2023, has begun to generate considerable excitement, adding a fresh twist to the Hollywood landscape just as the iconic “Barbie” film did earlier this year. While “Barbie” infused vibrant pinks into pop culture, “Wicked” is introducing a captivating
The world of sports broadcasting, particularly in the realm of regional sports networks, is currently facing a tumultuous phase, exemplified by the ongoing situation surrounding Diamond Sports Group. As the largest regional sports network owner in the United States, Diamond has found itself ensnared in a maze of financial challenges, leading to bankruptcy proceedings and
On Thursday, Moderna Inc. reported third-quarter earnings that defy widespread market expectations, unveiling a net income of $13 million, or 3 cents per share. This marks a significant improvement from the staggering loss of $3.63 billion, equating to a loss of $9.53 per share, recorded during the same period last year. Wall Street analysts had
E.l.f. Beauty recently made headlines in the cosmetics industry when it announced a remarkable 40% increase in sales for the second fiscal quarter, reaching $301 million. This surge in revenue far exceeded the expectations of market analysts, igniting a near 10% hike in the company’s stock during after-hours trading. Furthermore, the company revised its full-year