Breaking News: Business
GM and Lockheed are taking their lunar rover project to the commercial space market
MILFORD, Mich. — General Motors and Lockheed Martin said Thursday they plan to produce an array of moon-roving vehicles for commercial space missions and services powered by the automaker’s electric vehicle battery technology. The companies said they plan to test the batteries in space later this year, with the goal of having their first vehicle […]
Read More
Stitch Fix shares sink another 12% as company announces layoffs, offers weak guidance
Stitch Fix said Thursday that it is laying off 15% of salaried positions within its workforce, mostly in corporate roles and styling leadership positions, in a bid to trim expenses amid red hot inflation and waning consumer demand for certain items. CNBC was first to report on the layoffs, which the company confirmed Thursday afternoon […]
Read More
Southwest Airlines is closing reservations centers as customer service agents go fully remote
A traveler walks past a Southwest Airlines airplane as it taxies from a gate at Baltimore Washington International Thurgood Marshall Airport on October 11, 2021 in Baltimore, Maryland. Kevin Dietsch | Getty Images Southwest Airlines’ customer service agents will soon work ‘100%’ remotely as the carrier moves to close its reservations centers. “Southwest Airlines just […]
Read More
This SPAC is merging with an already-public company as sponsors get creative before time runs out
Traders on the floor of the NYSE, June 8, 2022. Source: NYSE SPACs are known to be a roundabout investment vehicle to take private companies public. Not this one. Bull Horn Holdings is merging with biotech Coeptis Therapeutics, a public company traded over the counter. The SPAC sponsors told CNBC they went for a public company partly […]
Read More
Tom Cruise vs. dinosaurs: The summer box office heats up with the debut of ‘Jurassic World: Dominion’
Tom Cruise attends the UK premiere and Royal Film Performance of ‘Top Gun: Maverick’ in Leicester Square on May 19, 2022 in London, England (L) and still of Jurassic World: Dominon (R) Getty Images | Universal Studios Dinosaurs are destined to steal the box office crown from Tom Cruise this weekend, but it’s not clear […]
Read More
Why remaining private is a competitive advantage for PE firm Bain Capital with $160 billion
(Click here to subscribe to the Delivering Alpha newsletter.) Bain Capital, with $160 billion in assets, is one of the largest private, private equity firms. Despite many of its peers going public, like TPG earlier this year, Bain has no immediate plans to join them. John Connaughton is Bain Capital’s global head of Private Equity and co-managing […]
Read More
Disney fires TV content chief Peter Rice in abrupt shakeup
Peter Rice, then-chairman and chief executive officer of Fox Networks Group Inc., speaks at the Milken Institute Global Conference in Beverly Hills, California, May 3, 2017. David Paul Morris | Bloomberg | Getty Images Disney has abruptly fired Peter Rice, its most senior television content executive, multiple sources told CNBC Thursday. Rice didn’t know the […]
Read More
FDA decision on Novavax’s Covid shots could be delayed to review changes in manufacturing
A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. Patrick Van Katwijk | Getty Images The Food and Drug Administration needs to review changes to Novavax’s manufacturing process before it can authorize the biotech […]
Read More
Dungeons & Dragons-maker Hasbro wins board battle against activist investor Alta Fox
A Dungeons & Dragons classic dragon hand painted by Alan Cooley, 27, of Huntington Station, New York, at Main Street Game Cafe in Huntington on November 26, 2019. Newsday LLC | Newsday | Getty Images Hasbro has fended off a board challenge from an activist investor that wanted to shake up its board and spin off […]
Read More
Spirit Airlines postpones shareholder meeting to continue deal talks with Frontier and JetBlue
A JetBlue Airlines plane takes off near Spirit Airlines planes at the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines is postponing its shareholder meeting, previously scheduled for Friday, until June 30 so it can continue deal talks with Frontier Airlines and JetBlue Airways, […]
Read More