Warner Bros. Discovery Chief Executive Officer David Zaslav finds himself in a precarious situation as he battles to regain investor confidence in the wake of the 2022 merger between Discovery and WarnerMedia. Despite significant cost-cutting measures and restructuring, Warner Bros. Discovery shares have plummeted by 70% since the merger closed, leaving shareholders skeptical about the
Business
Stellantis, the automaker behind the Ram 1500 pickup truck, is planning to indefinitely lay off up to 2,450 factory workers in the U.S. The decision comes as the company discontinues production of the older version of the Ram 1500, known as the “Classic” model. This move is expected to have significant implications for both the
Sick and tired of the inconsistency in bounce and durability of traditional pickleballs, Bahram Akradi, the founder and CEO of Life Time, decided to take matters into his own hands. As a result, the upscale fitness and lifestyle company recently unveiled what they proudly refer to as “the ultimate pickleball.” This bold move signifies Life
In a recent statement, Delta Air Lines revealed that the CrowdStrike outage in the previous month led to significant financial losses amounting to approximately $550 million. This massive hit included a $380 million drop in revenue for the current quarter, primarily due to the need to refund customers for cancelled flights and provide compensation in
Disney’s media business, once considered a weight on the company’s overall performance, has recently shown signs of a significant turnaround. In the past, streaming losses, declining traditional pay TV business, and box office failures have negatively impacted Disney’s stock performance. However, the company’s second-quarter results indicate a shift in this narrative. The combined streaming businesses,
JPMorgan Chase CEO Jamie Dimon recently expressed his belief that the chances of the U.S. economy having a “soft landing” are relatively low, standing at around 35% to 40%. According to Dimon, a recession is the most likely scenario at this point in time. His view remains consistent with his earlier stance in February when
Disney is making moves to increase prices on its streaming platforms such as Disney+, Hulu, and ESPN+. The price hikes are set to take effect in mid-October, with most plans seeing an increase of $1 to $2 per month. For instance, the basic and premium plans for Disney+ will now be priced at $9.99 and
Yum Brands recently reported a quarter with mixed results, with both Pizza Hut and KFC experiencing declines in same-store sales. The impact of the Middle East conflict and a more cost-conscious consumer base were cited as reasons for these declines. Despite these challenges, Yum CEO David Gibbs noted that sales trends in the U.S. have
In a recent incident that shook Delta Air Lines to its core, the airline giant found itself in the midst of chaos due to a botched CrowdStrike software update. This disruption led to the cancellation of more than 5,000 flights over a span of five days, leaving thousands of customers and crew stranded. The fallout
Eli Lilly’s weight loss injection Zepbound and diabetes drug Mounjaro are now fully available in the U.S., as stated in an update on the U.S. Food and Drug Administration’s drug shortage database. This update marks a significant development in the availability of these popular medications. Previously, there were shortages reported for some doses of these