Fisker, a well-known all-electric vehicle startup, recently made headlines by filing for Chapter 11 bankruptcy protection. This move was primarily driven by lackluster consumer demand, significant cash burn, and operational and product issues. The company’s charismatic founder and CEO, Henrik Fisker, had previously expressed concerns about its ability to continue as a viable business, leading
Business
Senator Elizabeth Warren is not one to shy away from calling out powerful figures in the financial industry. Recently, she accused Federal Reserve Chair Jerome Powell of advocating for changes that would benefit large American banks at the expense of the general public. In a letter dated June 17, Warren expressed her disappointment at reports
The demand for weight loss and diabetes treatments has been soaring, leading to a significant increase in revenue for Eli Lilly. The success of their diabetes injection Mounjaro and obesity drug Zepbound has been instrumental in propelling the company to new heights. This surge in demand has been a positive development for the pharmaceutical giant,
Over the weekend, Disney and Pixar celebrated the massive success of “Inside Out 2,” which pulled in an astounding $155 million at the domestic box office. This incredible opening marked the second-highest debut for an animated film and the first since Warner Bros.’ “Barbie” to surpass $100 million in ticket sales during its premiere. The
Boeing’s Starliner capsule “Calypso” is set to stay at the International Space Station (ISS) for an extended period, announced by NASA on Friday. Originally planned for a nine-day mission, the developmental nature of the mission known as Boeing’s crew flight test is being showcased as various tests are being conducted on Starliner while docked with
Sony Pictures made headlines recently with the announcement of its acquisition of Alamo Drafthouse, the seventh-largest movie theater chain in North America. This move marks the first time a major studio has purchased a theater chain since the Department of Justice’s antitrust division terminated certain restrictions in 2020. The Paramount Consent Decrees, enacted in 1948,
In a surprising turn of events, Major League Eating has decided to part ways with the 16-time champion Joey “Jaws” Chestnut ahead of this year’s Nathan’s Famous Fourth of July hot dog eating contest. This decision came after Chestnut made the choice to represent a rival brand that sells plant-based hot dogs, rather than continue
In a shocking turn of events, National Amusements has decided to cease talks with Skydance regarding a proposed merger with Paramount Global. CNBC’s David Faber was the first to report this development on Tuesday. This decision comes after National Amusements, owned by Shari Redstone, who is the controlling shareholder of Paramount, had previously agreed to
The recent investigation into United Auto Workers President Shawn Fain by a federal court-appointed watchdog has raised serious concerns about potential corruption within the union. The monitor, Neil Barofsky, has accused Fain and other union leaders of obstructing the investigation and interfering with access to information. These allegations come as the union is engaged in
The Covid-19 pandemic has revealed both vulnerabilities and resilience in the American economy. One area that has been significantly impacted is child care, as day cares closed, schools switched to remote learning, and parents struggled to balance work and childcare responsibilities. Despite the return of employment in the child care sector to pre-pandemic levels, there