Recently, a Delaware judge made a significant ruling regarding the over 70,000 lawsuits filed against the former makers of the heartburn drug Zantac. The judge, Vivian Medinilla of the Delaware Superior Court, allowed expert witnesses to testify in court that Zantac may be linked to cancer. This decision was seen as a setback for the
industry
The post-holiday box office weekend saw a significant decline in earnings compared to the previous year, with all titles grossing an estimated $68.6M, a staggering 66% drop from the previous year’s total of $205.1M. This poor performance can be attributed to various factors, including lackluster movie releases and overall audience disinterest in the available options.
Adam Moelis, co-founder of Yotta, had noble intentions when he started the fintech startup in 2019. He aimed to provide Americans with a unique way to save money and build financial stability. However, what unfolded was far from his vision. A dispute between Yotta’s banking partners, Synapse and Evolve Bank & Trust, led to the
The past week has been a tumultuous one for the software and enterprise tech industry. With Salesforce executives revealing that deals are getting delayed, Dell experiencing shrinking margins, and Okta facing macroeconomic challenges, it was clear that the sector was in for a rough ride. Veeva’s CEO also highlighted the competition posed by generative artificial
Morgan Stanley’s analysts recently increased their price targets on Toyota and Honda, with Honda specifically highlighted as their top choice among Japanese automakers due to improved profitability prospects and sustained shareholder returns. This strategic move is based on the idea that Honda’s profitability is expected to shine brighter in the coming days with a broader
Rashawn Russell, a former investment banker at Deutsche Bank, was sentenced to 41 months in prison after admitting to a Ponzi-like fraud that involved promising investors guaranteed returns from cryptocurrency trading. The scheme, which ran from November 2020 to August 2022, targeted friends, former college classmates, and colleagues at Deutsche Bank. Russell claimed that he
In April, signed sales contracts on existing homes experienced a significant drop of 7.7% compared to March, marking the slowest pace since April 2020. This decline, reported by the National Association of Realtors, came as a surprise to many industry experts who anticipated flat sales compared to the previous month. The decrease in pending sales,
Columbia Pictures’ Bad Boys: Ride or Die is set to hit theaters in China on June 22, marking the second installment of the Bad Boys franchise to be released in mainland China. The previous film, Bad Boys for Life, debuted in China in August 2020 amidst the Covid-19 pandemic, grossing a mere $3.2M. Despite this
Despite the challenging times faced by the global box office, there is still some positive news to celebrate. One such film that has reached a significant milestone is 20th Century Studios/Disney’s Kingdom of the Planet of the Apes. The movie has managed to surpass the $300 million mark worldwide. With $178.1 million coming from international
The recent transition to faster trade settlements for securities in the U.S. has been met with processing bumps, according to market participants. The move from a two-day settlement cycle (T+2) to a one-day settlement cycle (T+1) was adopted to comply with a rule change by the U.S. Securities and Exchange Commission. This shift in the
Cathie Wood’s ARK Invest has recently made headlines with its decision to invest in Elon Musk’s startup xAI as part of its deepening focus on artificial intelligence. This move showcases the fund’s commitment to staying at the forefront of technological innovation and supporting ambitious ventures in the AI space. By taking a stake in xAI,
Pinduoduo (PDD) has emerged as a dominant player in China’s e-commerce landscape, beating out competitors such as Alibaba and JD.com. The company’s value-for-money positioning and the growth of its Temu marketplace have propelled it to the top spot in terms of market capitalization. With stellar first-quarter results and a surge in share value, PDD is
American Airlines recently announced a significant cut to its sales outlook, indicating a challenging road ahead for the company. The airline giant now expects unit revenues to plummet by as much as 6% in the second quarter compared to the previous year, a stark contrast from the initial forecast of a decline of no more
Robinhood’s decision to initiate a $1 billion share repurchase program is certainly a bold move. The market’s positive reaction with a 4.5% increase in after-hours trading indicates that investors are optimistic about the company’s future. However, the extended timeline of two to three years for the execution of the program starting in the third quarter