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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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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Oil prices hit three-month lows, head for weekly loss as summer driving season kicks off
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Crude 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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It wasn’t the endless shrimp that doomed Red Lobster. How private equity pinched the seafood chain.
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Angry 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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Will schools finally pay student-athletes? What a historic settlement means for the NCAA and players
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Could 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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‘It is time to break up Live Nation’: DOJ sues Ticketmaster parent over alleged monopoly
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The 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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Frontier CEO urges crackdown on ‘rampant abuse’ of airport wheelchair service
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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.…
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Palm Beach housekeepers are making $150,000 a year due to massive demand from the wealthy
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A 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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Dow falls 600 points in worst day of 2024 as Nvidia’s blockbuster earnings fail to lift broader market
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Stocks 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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Target, McDonald’s and others are offering value as they lose ground with bargain hunters
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Target’s weak quarterly earnings underscored why it cut prices on thousands of household staples: it’s struggling to win over bargain hunters. The discounter is not alone. Target’s first-quarter results on Wednesday not only…