Boeing recently announced that it has temporarily halted flight tests of its 777X aircraft after discovering damage to a custom part located between the engine and the airplane structure. The damage was detected during routine maintenance, leading to the grounding of the three remaining 777-9 airplanes in the test fleet. As a result of the
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Luxury tycoon Bernard Arnault, founder and CEO of LVMH, one of the largest luxury goods conglomerates in the world, is making waves in the tech industry with his recent investments in artificial intelligence companies. Despite his immense wealth and success in the luxury market, Arnault has set his sights on the future of AI technology
Estee Lauder, a prominent player in the prestige beauty market, recently announced its fiscal 2025 guidance, which left investors and analysts disappointed. The company’s organic net sales are expected to decline by 1% to potentially increase by 2%, a far cry from the anticipated 6% to 7% growth consensus. Similarly, the profit outlook is also
Starbucks, the once beloved coffee giant, has been struggling in recent times due to operational issues, mobile order complications, and changing consumer behaviors. With the upcoming appointment of Brian Niccol as the new CEO, the company faces a pivotal moment in its turnaround strategy. Operational Challenges The operational challenges faced by Starbucks have been a
One of the top stock picks favored by Wall Street analysts in July was project management software provider Monday.com (MNDY). The company impressed investors with its strong second-quarter results and raised full-year outlook, thanks to the high demand from large customers. This led TD Cowen analyst Derrick Wood to boost his firm’s price target for
In July, the inflation rate in the United States continued to decrease, with the consumer price index (CPI) rising by 2.9% from a year ago. This marks a significant drop from the 3% inflation rate in June and is the lowest reading since March 2021. The CPI tracks the rate at which prices are changing
Gilead Sciences recently exposed a counterfeit drug operation involving its HIV medications that had been tampered with and illegally resold before reaching unsuspecting patients. This illicit scheme, allegedly orchestrated from two New York City pharmacies, was reportedly masterminded by Peter Khaim, a twice-convicted medical fraudster. The court documents unveiled this month revealed that Khaim was
For the past 15 years, the federal minimum wage has remained stagnant at $7.25 per hour, marking a significant milestone in the struggle of working families to make ends meet. While various states have taken the initiative to enact higher minimum hourly pay rates, there are still 20 states where wages remain no higher than