This term, the Supreme Court has faced a firestorm of scrutiny on multiple fronts due to the slow pace at which rulings have been issued. As of May 1, the court has disposed of just 15 cases, which is lower than at any time in the last 100 years. However, the court hears oral arguments
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Charlie Munger, the 99-year-old investor and vice chairman of Berkshire Hathaway, has expressed concerns over the US commercial property market. In an interview with the Financial Times, Munger stated that US banks are filled with “bad loans” that will become vulnerable as property prices fall and “bad times come”. Munger acknowledged that the current situation
Twitter’s former CEO Jack Dorsey has taken to social media to openly criticize Elon Musk’s leadership of the company. Dorsey stated that “it all went south” and that Musk “should have walked away” from the acquisition. Dorsey made these comments in response to users of Bluesky, a new social media platform that is being touted
SpaceX CEO, Elon Musk, has announced plans for the company to spend around $2 billion on its Starship rocket development this year. Despite this large investment, Musk said that SpaceX does not anticipate needing to raise funding to further bolster the Starship program and its other ventures, as they are not currently in need of
As more companies move their workloads out of their own data centers, the cloud-computing market continues to grow. However, executives from the leading cloud vendors, including Amazon, Microsoft, and Google, have said that clients are looking for ways to trim costs. This has resulted in slowing revenue growth for these cloud divisions. AWS, the leader
Dallas-based airline, Southwest Airlines, has reported a loss of $159 million for the first quarter of the year. The loss was due to the financial impact of the airline’s holiday meltdown that occurred in December 2022. The airline had to cancel over 16,000 flights in the final days of December due to staffing software issues
New details have emerged about the environmental impact of the SpaceX Starship Super Heavy launch on 20 April. The US Fish and Wildlife Service (FWS) has confirmed that a fire broke out on a 3.5-acre site south of the launch pad in Boca Chica State Park following the launch. The agency did not find any
Despite the recent decline in General Motors’ stock by more than 2% during Wednesday’s trading session, Bank of America has kept its buy rating on the company, as it remains a leader in the auto industry. The automaker recently announced an earnings and revenue beat for the first quarter, adding to the positive outlook for
Biogen CEO Christopher Viehbacher commented during the company’s first quarter earnings call that they are not worried about competing with Eli Lilly in the market for Alzheimer’s drugs. Both companies are working toward bringing their respective drugs to the market, with Biogen and Japanese drugmaker Eisai developing leqembi, and Eli Lilly developing donanemab and remternetug.
The banking crisis that started two months ago is showing signs of being a slow bleed that could act as a catalyst for a recession later this year. Banks are reporting the impact of a run on deposits on their operations, and the picture is mixed. Larger institutions like JPMorgan Chase and Bank of America