The owners of the cargo ship Dali, which crashed into the Francis Scott Key Bridge in Baltimore last year, are suing the ship's builder, Hyundai Heavy Industries. The lawsuit alleges a defective switchboard caused a power outage, leading to the crash that killed six and caused over $100 million...
BP announced its largest oil and gas discovery in 25 years, a significant find in Brazil's Santos basin. The 500-meter area of oil and gas at the Bumerangue block marks a major success for BP's exploration team and could significantly boost crude oil production. This discovery comes as BP...
American Eagle Outfitters' ad campaign featuring Sydney Sweeney has sparked controversy. President Trump praised the ad, boosting its popularity and American Eagle's stock. However, a veteran creative director alleges the campaign copied his 2009 Hudson Jeans ad featuring Georgia May Jagger. The similarities involve a 'genes'/'jeans' pun...
Skydance's acquisition of Paramount Global is nearing completion, with David Ellison announcing a new C-suite. Jeff Shell will be president, Andy Gordon COO. George Cheeks remains as chair of TV media, Cindy Holland leads streaming, and Dana Goldberg and Josh Greenstein co-chair the studio. The new leadership...
Skydance Media's merger with Paramount Global, closing August 7th, has announced its new executive team. David Ellison will be CEO, Jeff Shell President, and Andy Gordon Chief Strategy Officer and COO. The company will be structured into Studios, Direct-to-Consumer (DTC), and TV Media segments. Key executives include George Cheeks...
US markets are anticipating a selloff following weaker-than-expected jobs data, revealing a slowing economy. Futures for the Dow, S&P 500, and Nasdaq are down. The 10-year Treasury yield is flat, while gold rose and oil prices fell. Economists warn of a potential recession, contradicting previous optimism about the...
Delta Air Lines has confirmed it will not use artificial intelligence to personalize ticket prices after facing criticism from US lawmakers and public concern. Following concerns that AI would be used to set individual prices based on personal data, Delta clarified in a letter that it does not and...
Global markets experienced a downturn last week, with the S&P 500, Dow Jones, and Nasdaq falling due to weak jobs data, new US tariffs, and mixed corporate earnings. The July jobs report showed significantly fewer jobs added than expected, leading to the firing of the Bureau of Labor Statistics...
A high-end sleepwear brand, Roller Rabbit, opened a store in Nantucket, violating the island's ban on franchises. Despite a cease-and-desist order, the store rebranded as "The General Store by RR", adding other brands to avoid the ban. Nantucket officials claim the ban still applies, as enforcement relies on...
Berkshire Hathaway reported a second-quarter profit of $12.37 billion, significantly down from the previous year due to a $3.76 billion writedown on its Kraft Heinz stake. Operating earnings were down slightly to $11.16 billion. Despite this, results exceeded analyst expectations. The company holds substantial cash reserves but...
