Business

Southwest Airlines saw a sharp decline in its shares this week, dropping by approximately 4% in premarket trading after cutting its revenue forecast for the second quarter. The airline cited changing booking patterns as the main reason for the downgrade. Revenue per available seat mile, a key metric for airlines, is expected to decrease by
Target’s decision to partner with Shopify to add new and trendier brands to its website marks a strategic move by the Minneapolis-based discounter. By opening up its third-party marketplace, Target Plus, to companies working with Shopify, Target aims to leverage the e-commerce platform’s base of smaller or up-and-coming brands. The collaboration between Target and Shopify
The housing market is currently experiencing a significant downturn, with sales of previously owned homes hitting a 30-year low. In May, sales remained essentially flat, decreasing by 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units. These numbers, reported by the National Association of Realtors (NAR), indicate a 2.8% decline from
Gilead Sciences, a biopharmaceutical company, recently announced groundbreaking results from a late-stage trial of its experimental twice-yearly HIV prevention medicine, lenacapavir. The trial showcased a remarkable 100% effectiveness in preventing HIV transmission among approximately 2,000 women who received the injectable shot. This development has the potential to revolutionize HIV prevention strategies and expand Gilead’s presence
The recent Chapter 11 bankruptcy filing by Fisker, a once-promising all-electric vehicle startup, adds to a growing list of failed companies in the electric vehicle (EV) industry. Lackluster consumer demand, significant cash burn, operational challenges, and product issues have plagued Fisker, leading to its downfall. The collapse of Fisker follows other SPAC-backed companies such as
Senator Elizabeth Warren has recently accused Federal Reserve Chair Jerome Powell of bowing to pressure from the financial industry. She claims that Powell is advocating for changes to regulations that would decrease the capital large banks are required to hold. Warren’s concern is rooted in the fact that these regulations, known as Basel III, were
Eli Lilly has seen a surge in demand for its weight loss and diabetes treatments in recent times, which has led to a significant increase in its revenue. The outgoing Chief Financial Officer, Anat Ashkenazi, highlighted the company’s success in managing the windfall from its diabetes injection Mounjaro and obesity drug Zepbound. This success has