Firm Management

US Tech Giants Suffer $1 Trillion Wipeout Following Massive Market Decline

US Tech Giants Suffer $1 Trillion Wipeout Following Massive Market Decline

Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.


CrowdStrike Claims Delta Air Lines Refused Their Help, Resulting to Extended IT Outage and $500M Loss

CrowdStrike denies responsibility for Delta Air Lines' extended IT outage, arguing that the airline mismanaged the situation and contributed to a misleading narrative about the incident.

Boeing Names Robert Ortberg As New CEO Following Plea Deal and $1.4 Billion Loss

Aerospace industry veteran, Robert "Kelly" Orberg is Boeing's new CEO, effective August 8, 2024, replacing David Calhoun after a $1.4 billion loss in the second quarter and ongoing regulatory issues.

PayPal Outperforms Expectations with 9% Revenue Increase, Thanks to 'Branded Checkout'

PayPal raised its 2024 profit forecast for the second time this year due to strong performance in its branded checkout business, resulting in a 9% rise in shares, despite increased competition from tech giants.


Latest News

Toyota Chairman Warns of Potential Board Exit as Shareholder Support Dips Due to Scandals
Following safety certification scandals, Toyota Chairman Akio Toyoda warns that he may lose his board position if declining shareholder support, currently at its lowest ever, continues.
Walmart Eyes $200 Million Investment in Autonomous Forklifts
Walmart is considering a $200 million investment in autonomous forklifts, joining their 'FoxBots,' to enhance warehouse efficiency and reduce labor costs.
Nissan Slashes Production of Rogue Crossover at Kyushu Plant Due to US Sales Decline
Nissan has cut production at its main Japanese plant by a third due to weak U.S. demand and struggles to compete with the demand for hybrid car models.
NBA Partners with Amazon, Disney, and NBCUniversal in $77 Billion Media Deal
The NBA has chosen Amazon as its new media partner for an 11-year, $77 billion deal, rejecting Warner Bros. Discovery's attempt to match the offer and limiting their rights to a streaming-only arrangement.
Southwest Plans Seat Assignments, Extra Legroom to Boost Revenue After 46% Profit Drop
Southwest Airlines' profit fell 46% in Q2 despite record revenue, prompting the airline to boost revenue by eliminating open seating, adding seat assignments and extra-legroom options, and introducing overnight flights.
Nestle Cuts Sales Forecast as Shoppers Reject Price Hikes
Nestle has lowered its sales forecast for the year to 3% growth, down from 4%, as consumers reject price hikes on its products, leading to a 5% drop in its shares.
Tesla to Use Humanoid Robots for In-House Operations Starting Next Year
Elon Musk announced that Tesla will begin using humanoid robots within the company as extra help next year, with plans for commercial production by 2026.
Mukesh Ambani's Reliance Industries Reports 5.4% Profit Decline, its Fifth Consecutive Quarter Drop
Reliance Industries Ltd. reported a 5.4% profit decline for the quarter ending June 30, falling short of expectations due to ongoing issues in its oil-to-chemicals sector, despite a 12% revenue increase.
Boeing Plans Major Overhaul to Rebuild Trust Following 737 Max Crashes That Cost Them $30 Billion
Boeing, facing severe financial and reputational damage from the 737 Max crashes, is implementing a comprehensive recovery plan involving better safety measures, workforce training, and buying back its troubled fuselage supplier.
Aurea Group Agrees to Acquire The Body Shop Out of Bankruptcy for Undisclosed Amount
The Aurea Group and several investors are expected to acquire The Body Shop after it announced its bankruptcy earlier this year.
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