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.
Firm Management
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.
Procter & Gamble's Stock Drops as Revenue Misses Expectations
Procter & Gamble's earnings beat expectations, but its revenue fell short, leading to a 4.6% drop in stock price despite a historical 1% increase in volume.
Air New Zealand Withdraws 2030 Emissions Initiative Due to Fuel Costs and Delays
Air New Zealand has dropped its 2030 climate goal due to challenges with fuel-efficient aircraft delivery and alternative fuel costs, making it the first major airline to revise near-term environmental targets.
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.
Latest News
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 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.
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.
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, 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.
The Aurea Group and several investors are expected to acquire The Body Shop after it announced its bankruptcy earlier this year.
HSBC announced that Georges Elhedery, its chief financial officer, will become the firm’s next CEO effective Sept. 2.
Elon Musk made his intention to move the headquarters of his companies SpaceX and X, formerly Twitter, from California to Texas after California Governor Gavin Newsom signed a transgender rights law.
Morgan Stanley reported that profits performed better than expected across the board in the second quarter of 2024 despite investors shifting to higher-yielding assets.
