Walmart is considering a $200 million investment in autonomous forklifts, joining their 'FoxBots,' to enhance warehouse efficiency and reduce labor costs.
Firm Management
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.
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.
Latest News
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.
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 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.
