NASA and Boeing have announced an extension of the first crewed flight of the Starliner capsule, named “Calypso,” at the International Space Station. This extension is aimed at conducting further testing on the spacecraft’s thruster technology at White Sands, New Mexico. The crew flight test carried out by Boeing represents a significant milestone as it
Business
Nike CEO John Donahoe’s leadership at the world’s largest sportswear company is being called into question after a string of disappointing news. The company reported a bleak outlook for the current quarter, with sales expected to decline by a staggering 10%, far worse than what was previously projected. This comes after their slowest annual sales
The cost of prescription medications in the United States has been on a steady rise, increasing by a staggering 37% since 2014. This surge in prices far exceeds the rate of inflation, ultimately burdening consumers with higher out-of-pocket expenses. According to data from GoodRx, the average American now spends $16.26 out of pocket for each
Chinese automakers are projected to expand rapidly outside of China, aiming to achieve 33% of the global automotive market share by 2030. According to a recent report by AlixPartners, this growth is expected to come predominantly from markets outside of China, with sales increasing from 3 million to 9 million vehicles by the end of
The Biden administration recently announced that it will be imposing inflation penalties on 64 prescription drugs for the third quarter of this year. This move aims to lower costs for certain older Americans who are enrolled in Medicare. President Joe Biden has been vocal about his commitment to lowering drug prices in the U.S., and
Morgan Stanley is making significant strides in the realm of artificial intelligence with the introduction of a groundbreaking assistant called Debrief. This innovative tool is set to streamline the workflow of the bank’s financial advisors by taking over repetitive tasks, saving valuable time and enhancing productivity. By leveraging the power of AI, Morgan Stanley aims
FedEx witnessed a significant increase in its shares by over 15% in after-hours trading following the release of its fiscal fourth-quarter results. The company exceeded analyst expectations in both earnings and revenue, with earnings per share coming in at $5.41 adjusted compared to an expected $5.35, and revenue reaching $22.11 billion against an estimated $22.07
The current outlook for U.S. auto sales in the first half of the year indicates a 2.9% increase compared to the previous year. However, there are growing concerns that this momentum may not be sustained throughout the year. Factors such as growing vehicle inventory levels, increasing incentives, and uncertainty surrounding the economy, interest rates, and
Target’s recent decision to team up with Shopify is a strategic move aimed at enhancing its online marketplace with new and trendy brands. This partnership has the potential to revitalize Target’s digital sales and attract a wider range of customers. By tapping into Shopify’s network of smaller and up-and-coming brands, Target is looking to differentiate
Forever 21, a well-known fast-fashion retailer with over 380 stores in the U.S., is facing financial challenges that have prompted it to seek a reduction in rent from its landlords. The company has asked some landlords to slash its rent by up to 50%, indicating the severe impact of declining sales and stiff competition in