Boeing will burn through cash this year and deliveries of new planes won’t improve in the second quarter from the first, as the manufacturer deals with a host of production challenges…
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Business
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Tesla CEO Elon Musk said that he doesn’t support President Biden’s recent announcement of a tariff on Chinese-made electric vehicles. “Neither Tesla nor I asked for these tariffs,” Musk said in response to a question…
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Business
It wasn’t the endless shrimp that doomed Red Lobster. How private equity pinched the seafood chain.
by adminAngry that your favorite Red Lobster closed down? Wall Street wizardry had a lot to do with it. Red Lobster was America’s largest casual dining operation, serving 64 million customers…
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Business
Oil prices hit three-month lows, head for weekly loss as summer driving season kicks off
by adminCrude oil futures fell to three-month lows on Friday and are heading to a weekly loss as the summer driving season gets underway with the Memorial Day holiday. U.S. crude…
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Business
Will schools finally pay student-athletes? What a historic settlement means for the NCAA and players
by adminCould college athletes really start getting paid directly by their schools, ending decades of acrimony over the issue? The NCAA, along with the five largest college athletic conferences, announced Thursday…
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Business
Palm Beach housekeepers are making $150,000 a year due to massive demand from the wealthy
by adminA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions,…
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Business
Dow falls 600 points in worst day of 2024 as Nvidia’s blockbuster earnings fail to lift broader market
by adminStocks fell Thursday, with the Dow Jones Industrial Average registering its worst day of 2024, as a post-earnings rally in Nvidia failed to lift the broader market. The 30-stock Dow slid 605.78 points,…
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Business
‘It is time to break up Live Nation’: DOJ sues Ticketmaster parent over alleged monopoly
by adminThe Justice Department filed a lawsuit Thursday seeking to break up Live Nation, the parent company of Ticketmaster, alleging it has hurt consumers and violated antitrust laws by exercising outsize…
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More than half of Americans think that the United States is in an economic recession, although gross domestic product has been increasing for the past several years. According to a new Guardian/Harris poll, 56% of respondents said…
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The 1986 Air Carrier Access Act requires airlines to provide a wheelchair to passengers with disabilities at the airport. The problem: Many travelers are faking it, Frontier Airlines CEO Barry Biffle says.…