John Slattery, the chief commercial officer of GE Aerospace, has announced his decision to step down from the jet engine maker in June. Despite his departure from this role, Slattery will remain an adviser to the company. This transition comes as part of CEO Larry Culp's restructuring efforts within the organization. Slattery, an Irish-born industry
Wall Street
The e-commerce giant Alibaba Group's shares surged in Hong Kong following Chinese media reports that Jack Ma endorsed the firm's current leadership in an internal memo. This endorsement from Jack Ma, one of the co-founders of Alibaba, helped boost investor confidence and led to a 5.4% rally in the company's shares to HK$74.25 – its
The global airline industry is currently experiencing a summer squeeze, with travel demand projected to exceed pre-pandemic levels. However, this surge in demand is juxtaposed with a significant drop in aircraft deliveries, largely due to production issues at Boeing and Airbus. Airlines are facing the challenge of operating older, less fuel-efficient aircraft while spending billions
In a recent turn of events, Tesla has reached a settlement in a lawsuit regarding a fatal 2018 car crash that resulted in the death of an Apple engineer. The incident, which occurred near San Francisco, involved a Model X operating on Tesla's Autopilot feature. This settlement, which comes after a five-year legal battle, was
X Corp, previously known as Twitter, has recently faced legal challenges in Brazil that have caused the company to block certain popular accounts. Despite the importance of transparency in social media platforms, X Corp has been prohibited from giving details of the court orders that necessitated these blocks. This lack of transparency not only goes
In a recent ruling by the 5th U.S. Circuit of Appeals, a Texas judge's decision to transfer an industry-backed lawsuit challenging an agency rule on credit card late fees to Washington, D.C., has shone a spotlight on the issue of “judge shopping” in the United States. This ruling has sparked a broader debate over the
Samsung Electronics has reported a substantial increase in its first-quarter operating profit, estimating a more than 10-fold rise compared to the same period last year. The rebounding semiconductor prices have played a significant role in lifting earnings for the South Korean tech giant. The company estimated an operating profit of 6.6 trillion won ($4.89 billion)
Paramount Global's board members have made a crucial decision to engage in exclusive merger discussions with Skydance Media, instead of considering a $26 billion bid from Apollo Global Management. This move signifies a significant shift in the direction of the media empire built by the late Sumner Redstone, potentially ending Shari Redstone's control over the
The global stock markets experienced a significant rebound after the release of data indicating a slowdown in the growth of the U.S. services industry in March. This slowdown suggested that inflation may be subsiding, leading many to believe that interest rate cuts by the Federal Reserve could be on the horizon. However, the robust economic
The workers at Mercedes Benz's assembly plant in Alabama are gearing up to join the United Auto Workers union. This move is expected to create a significant impact on the labor dynamics of the automotive industry in the United States. The efforts to unionize the plant have reached a critical point, with workers planning to
Paychex, a payroll and human resources software provider, is set to release its earnings report tomorrow. Last quarter, the company reported revenues of $1.26 billion, falling short of analyst predictions by 0.7%. This disappointing performance raises questions about the company's ability to meet market expectations. Analysts are currently anticipating a 5.5% year-on-year increase in revenue
China's Xiaomi has experienced overwhelming demand for its first-ever electric vehicle, the SU7 sedan. Potential buyers have been advised that they may face waits of four to seven months for delivery. The company began taking orders recently and received an impressive 88,898 pre-orders in the first 24 hours. It has been reported that deliveries for
Uber Technologies Inc. is a company that has captured the attention of Wall Street analysts with its global presence in Mobility and Delivery services. The company is currently focused on expanding its non-UberX products and gaining market share across various new verticals. Uber's platform offers users a variety of services, including ride-hailing, food delivery, and
A recent ruling by a federal judge in Texas has halted the enforcement of new regulations introduced during the Biden administration. These regulations aimed to revamp the way lenders provide loans and services to low- and moderate-income individuals. Judge Matthew Kacsmaryk, an appointee of former President Donald Trump, issued a preliminary injunction in favor of