Boeing Eyes $15 Billion Financing To Cushion Ongoing Crises
While the proposed $15 billion in financing may not fully address the company's current challenges, Boeing is also reportedly exploring a structured finance transaction that could generate around $5 billion, possibly through securitizing a portion of a subsidiary's revenues.
GM, Foxconn To Move Production To Mexico
The companies will reportedly swap out imports for local production.
Coca-Cola 'Zero-Sugar' Lemonade Found To Contain Full Sugar
The FDA's recall notice cited that the cans of regular Minute Maid Lemonade were incorrectly packed into cartons labeled Minute Maid Zero Sugar Lemonade.
Elon Musk Has Poured $75 Million Into His Pro-Trump Super PAC
In July, Musk poured in $14.95 million to the super PAC. In August, he added $30 million and another $30 million in September.
Paramount Co-CEOs To Receive Bonus Payouts Even If They No Longer Lead Company
An SEC filing revealed that the three co-CEOs -- Chris McCarthy, George Cheeks, and Brian Robbins -- will be able to resign and receive severance payments if their new responsibilities are "substantially inconsistent" with their roles as co-CEO's or if there is a material reduction in the positions or duties.
Biden Administration Weighs Capping Nvidia AI Chip Exports To Some Countries: Report
This new strategy would establish a cap on export licenses for some countries for national security reasons, particularly focusing on Persian Gulf countries.
California Governor Signs Legislation Aimed At Preventing Spikes In Gas Prices
Opponents say the new law may actually lead to higher prices.
Blue Cross Blue Shield To Pay $2.8 Billion To Settle US Healthcare Antitrust Lawsuit
In addition to the financial settlement, the agreement includes significant operational changes aimed at enhancing transparency and improving the efficiency of BCBS's claims processing system.
Deadline To File Claim For Oracle Settlement Fast Approaching
The deadline to file a claim for the settlement payout if Oracle in violation of privacy class action suit is on Thursday.
Man With Gun Arrested Near Trump Campaign Rally In California; Trump Not In Danger
The suspect, 49-year-old Vem Miller, denied any claims of attempting to harm the Republican presidential candidate. He called himself "100% a Trump supporter."
Delta Suspends Hot Meal Service On Detroit Flights Amid Food Safety Concerns
"Delta and its catering partner immediately shut down hot food production and subsequently suspended all activity from the facility. Hot food and other onboard provisioning will be managed from other facilities," the airline said in a statement.
AMD Launches New AI Chip Challenging Nvidia
AMD said that the chip, called the Instinct MI325X, is set to go into production before the end of 2024. The chip aims to provide developers and cloud service providers with a strong alternative to Nvidia's offerings.
Hurricane Milton To Push 2024 Insured Losses Beyond $100 Billion: Fitch
Fitch said that they estimate that the insured losses will be ranging from $30 to $50 billion. This will be the largest insured loss after Category 4 Hurricane Ian in 2022.
Boeing Strikes Back At Union With Unfair Labor Practice Charge
The strike of about 33,000 union members from the U.S. West Coast factory of the company has already entered its 5th week.
AppleTV+ To Become Available On Amazon Prime Video In US
AppleTV will be available on Amazon later this month as an add-on subscription.
Marriott Agrees To Pay $52 Million Penalty, Boost Security After Data Breaches
The Federal Trade Commission (FTC), attorneys general from 49 states, and the District of Columbia, confirmed having reached separate settlement agreements with the hotel giant on Wednesday.
Stellantis CEO Plans Management Rejig After Profit Warning: Bloomberg Reports
Stellantis CEO plans to make management changes amid financial battles of the company, Bloomberg reported.
Rio Tinto To Become One Of World's Top Lithium Producer With $6.7B Arcadium Buy
Rio Tinto will be acquiring Arcadium in an all-cash $6.7 billion deal that would cement it as one of the world's top lithium producers.
OpenAI Accuses Elon Musk Of Harassment Following New Lawsuit
OpenAI accused Elon Musk for harassing the company following the lawsuit filed by Tesla's owner.
PepsiCo Slashes 2024 Revenue View On Slower Snack Sales In America, Tepid International Markets
Previously, the company had anticipated a 4% growth, but it now expects a low-single-digit increase in organic revenue for 2024. However, PepsiCo has maintained its forecast for core constant currency earnings per share, projecting at least an 8% increase.
Apple May Enter Smart Ring Arena By 2026 In Health-Tech Push: Report
"Given how deeply and personally invested Tim Cook is in health, I think that a ring is a very complimentary extension to Apple," said CCS Insight Chief Analyst Ben Wood.
House Committee Investigates FCC's Denial Of Starlink's $885 Million Subsidy
U.S. House committee is investigating the decision of the FCC denying $885.5 million funding for Starlink.
Judge Gives FTC Green Light In Antitrust Lawsuit Against Amazon; Rejects Some State Claims
The ruling of the court is a setback for Amazon, since it has been trying its best to toss the case out of court and avoid a full-blown trial. The court scheduled the trial for the case for October 2026.
SpaceX's Falcon 9 Set To Return To Flight Monday After FAA Clearance
The U.S. FAA gave SpaceX's Falcon 9 the green light to return to flight on Monday.
Activist Starboard Takes $1 Billion Stake In Pfizer, Seeks Former Execs' Support: Reports
Starboard has reached out to former Pfizer CEO Ian Read and ex-finance chief Frank D'Amelio, and both have expressed interest in supporting the activist investor's turnaround efforts, reports said.
Boeing, Union To Resume Wage Talks After Two Weeks Of Stalemate
Boeing and the union were summoned by the federal mediator to go back to the negotiation table.
Toyota Delays Production Of EVs In US On Slower Sales: Reports
Toyota will be delaying the production of its EVs in the U.S. amid design issues and slow EV sales.
Tesla Discontinues Most Affordable Model 3 Standard Range In US
Now, Tesla's Model 3 Long Range Rear-Wheel Drive is the most affordable, with a price of $42,490.
OpenAI Secures $6.6 Billion In New Funding At $157 Billion Valuation
OpenAI did not name the investors, but reports said that the funding round was led by New York-based venture capital firm Thrive Capital, including the company's biggest backer Microsoft and new participants, chipmaker Nvidia and SoftBank, among others.
CVS Health To Eliminate Almost 3,000 Jobs To Cut Costs
The cuts will affect about 1% of its workforce.