Stellantis union strikes cost $3.2 billion in revenue
United Auto Workers members rally outside Stellantis’ Ram 1500 plant in Sterling Heights, Michigan, after the union called a strike at the plant on Oct. 23, 2023. Michael Wayland / CNBC DETROIT — Labor strikes by the United Auto Workers union cost Stellantis about $3.2 billion, or 3 billion euros, in lost revenue through October, […]
NBA, NHL game broadcasts coming soon to immersive domes
Cosm’s shared reality dome concept for viewing live sports broadcasts. Courtesy: Cosm Venues Warner Bros. Discovery and Cosm, a privately held company that specializes in immersive technology, are about to make “shared reality” a reality for sports fans. Cosm plans to open two venues — a 65,000 square foot building in Los Angeles and a […]
WeWork plans to file for bankruptcy, WSJ reports; stock plunges
Shares of WeWork Inc. plummeted after hours on Tuesday after a report that the once-hot co-working-space provider plans to file for bankruptcy protection as early as next week. The news, reported by the Wall Street Journal on Tuesday, comes after the convulsions to office work and the commercial real estate market following the pandemic, and […]
Bud Light tries comeback with sports, concerts
Anheuser-Busch InBev said it will concentrate its marketing on sporting and music events as it tries to reverse falling sales of its flagship beer Bud Light in the face of conservative backlash in the U.S. The brewing giant revealed part of its plan to revitalize the brand Tuesday after it reported third-quarter earnings that beat […]
International equities are beating U.S. stocks in ‘rare’ outperformance. Should you lighten up on non-U.S. equities?
U.S. stocks are lagging international equities over the past year, an unusual occurrence within a longer-term stretch where the S&P 500 index has trounced the rest of the world, according to DataTrek Research. “It is rare to see international stocks beat the S&P over a 1 year holding period,” wrote Nicholas Colas, co-founder of DataTrek, […]
JetBlue forecasts ongoing losses, Spirit antitrust trial begins
The JetBlue drop-off area at New York’s LaGuardia Airport on Oct. 31, 2023. Leslie Josephs/CNBC JetBlue Airways stock tumbled to a nearly 12-year low Tuesday as the company forecast a loss for the fourth quarter and heads to court to defend its acquisition of budget carrier Spirit Airlines, a purchase it argues is crucial to […]
The White House says it wants to help retirement savers avoid billions of dollars in ‘junk fees’
President Biden’s newest retirement savings proposal announced Tuesday is a nod to the late fiduciary rule, touted as requiring financial advisers to always act in their clients’ best interests. The proposal, expected to be officially unveiled Tuesday, will focus on “junk fees,” including the payment financial advisers get for recommending one investment product over another, […]
Pfizer (PFE) Q3 earnings report 2023
CFOTO | Future Publishing | Getty Images Pfizer on Tuesday reported a narrower-than-expected adjusted loss for the third quarter as the drugmaker recorded charges largely related to struggles for its Covid antiviral treatment Paxlovid and the Covid vaccine. Pfizer said it recorded a $5.6 billion charge for inventory write-offs in the third quarter due to […]
Infiniti plans update of an aging lineup; previews four new models
Close followers of the automotive world have voiced a common complaint over the last few years: the Infiniti lineup has grown stale. But the company has a plan for that. Nissan’s luxury marque used last week’s Japan Mobility Show (formerly the Tokyo Auto Show) to show off a brand renaissance of four new models, one […]
‘Five Nights at Freddy’s’ dominates Halloween box office
A scene from the film “Five Nights at Freddy’s.” Universal Pictures If anything was going to topple Taylor Swift at the box office, it had to be a killer animatronic bear, right? “Five Nights at Freddy’s,” the new Universal-Blumhouse horror offering set in an abandoned Chuck E. Cheese-type kids’ pizza parlor, scored an estimated $78 […]
