In a recent court ruling, a federal judge has prohibited the merger between JetBlue Airways and Spirit Airlines on the grounds of antitrust concerns. This decision has raised significant controversy, prompting both airlines to appeal the ruling. The merger, which was valued at $3.8 billion, was anticipated to have a substantial impact on the aviation
Business
Disney and its investors are bracing themselves for the arrival of activist investor Nelson Peltz. Peltz’s Trian Fund Management is preparing to make its mark on social media platform X (formerly known as Twitter) and the website RestoreTheMagic.com. These avenues will be used to drum up support for Peltz’s mission to join Disney’s board, alongside
In 2023, Bring a Trailer, the renowned online auction site for collectible cars, defied the odds and achieved record-breaking sales amidst a downturn in classic car prices. Despite a 2% increase in sales to over $1.4 billion from $1.35 billion in 2022, the average price of cars sold on the platform dropped to $54,000 in
Restaurant Brands International has recently announced its intention to acquire Carrols Restaurant Group, the largest Burger King franchisee in the U.S., in a deal worth approximately $1 billion in cash. This acquisition represents a significant shift in strategy for Burger King, which has primarily relied on franchising its restaurants for the past decade. Under the
The recent JPMorgan Healthcare Conference held in San Francisco shed light on the growing market for antibody-drug conjugates (ADCs) within the biotech and pharmaceutical industry. ADCs are a group of cancer drugs that deliver targeted therapy to cancer cells while minimizing damage to healthy cells. The appeal of ADCs lies in their selectivity, as standard
When Erno Rubik first crafted the Rubik’s Cube, he never anticipated the impact it would have on the world. Originally conceived as a mathematical tool to aid in understanding three-dimensional movement, the cube quickly transformed into a challenging puzzle. Rubik, initially daunted by his creation’s complexity, found solace in the realization that others would encounter
JPMorgan Chase, the largest U.S. bank by assets, recently reported a decline in fourth-quarter profit. This disappointing news came as a result of the bank paying a hefty $2.9 billion fee tied to the government seizures of failed regional banks in the past year. While the bank’s earnings per share stood at $3.04, it fell
The governors of New York and California have recently unveiled their plans to crack down on retail crime, in response to growing concerns from voters and communities. Governor Kathy Hochul of New York and Governor Gavin Newsom of California, both representing Democratic strongholds, have made retail theft a top priority for the year 2024. This
SpaceX has achieved another milestone in the race to connect unmodified phones directly to satellites. The company announced on Wednesday that it successfully sent text messages via its Starlink satellites using T-Mobile’s network. This breakthrough test validates SpaceX’s direct-to-device (D2D) capabilities and paves the way for the company to bring its cell service to market
The real estate market has been experiencing a significant surge in home prices, a trend that continues to accelerate each month. According to a recent report by CoreLogic, a leading analytics firm, national home prices witnessed a substantial 5.2% increase in November compared to the same period the previous year. This surge in prices represents