Markets
Southwest profit falls 46% as airline takes ‘urgent’ steps to increase revenue
Southwest Airlines airplanes are serviced at their gates at Fort Lauderdale-Hollywood International Airport on May 18, 2024, in Fort Lauderdale, Florida. Gary Hershorn | Corbis News | Getty Images Southwest Airlines on Thursday forecast a potential drop in unit revenue for the third quarter as an oversupplied U.S. market has forced airlines to discount tickets […]
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S&P 500 futures slip after worst day for benchmark since 2022: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) on July 24, 2024 in New York City. Spencer Platt | Getty Images Stock futures were mixed Thursday as investors looked ahead to the release of key data and tried to recover after a tough session for Wall Street. S&P 500 futures and […]
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American shares drop 7% on weak profit forecast after backfired sales plan, industry oversupply
An American Airlines Boeing 737 MAX 8 aircraft approaches San Diego International Airport for a landing from Phoenix on June 28, 2024 in San Diego, California. Kevin Carter | Getty Images American Airlines shares shed more than 7% in premarket trading Thursday after the carrier slashed its profit forecast for the year after a backfired […]
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Keurig Dr Pepper earnings meet estimates as higher prices fuel U.S. soda sales
In this photo illustration, cans of Dr Pepper soda are displayed on June 03, 2024 in San Anselmo, California. Justin Sullivan | Getty Images Keurig Dr Pepper reported quarterly earnings and revenue that met analysts’ expectations on Thursday as higher prices fueled its U.S. soda sales. Shares of the company rose 2% in premarket trading. Here’s what the […]
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Shares of Gucci-owner Kering hit seven-year low after weak forecast, revenue drop on low China sales
A bag on display at a Gucci luxury boutique in London, UK, on Friday, July 19, 2024. Hollie Adams | Bloomberg | Getty Images Shares in Gucci-owner Kering fell on Thursday, after the luxury group announced a sharp decline in revenue in the first half of the year and issued a weak forecast for the […]
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China to use ultra-long bonds for consumer, trade-in policy support as worries about retail sales slump grow
Key Points China on Thursday announced its most targeted measures yet for boosting consumption, which has remained lackluster since the pandemic. Authorities announced they would allocate 300 billion yuan ($41.5 billion) in ultra-long special government bonds to expand an existing trade-in and equipment upgrade policy. The policy at least doubles the subsidies for new energy […]
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Southwest to get rid of open seating, offer extra legroom in biggest shift in its history
A Southwest commercial airliner takes off from Las Vegas on Feb. 8, 2024. Mike Blake | Reuters Southwest Airlines is ending open seating and will offer extra legroom seats on its airplanes as mounting pressure on the carrier to increase revenue prompts the biggest changes to its business model in its 53 years of flying. […]
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Revolut clinches UK banking license, ending three-year wait
Revolut cards is seen in this illustration photo taken in Krakow, Poland on March 29, 2024. Jakub Porzycki | Nurphoto | Getty Images British fintech startup Revolut on Thursday that it had received a preliminary banking license with restrictions from the U.K.’s Prudential Regulation Authority, bringing to an end a three-year wait. The London-headquartered firm […]
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Britain will soon lay out new plans to regulate ‘buy now, pay later’ firms like Klarna after delays
Buy now, pay later firms like Klarna and Block’s Afterpay could be about to face tougher rules in the U.K. Nikolas Kokovlis | Nurphoto | Getty Images Britain’s new Labour government will soon set out updated plans to regulate the “buy now, pay later” industry, a government spokesperson told CNBC. A Treasury department spokesperson said […]
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Chinese EV startups are spending more on research than Tesla is
Nio’s second factory in the city of Hefei has around 2,000 human workers and 756 robots. CNBC | Evelyn Cheng BEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla, according to CNBC analysis of the four automakers’ first-quarter earnings. It’s a strategy for survival in […]
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