The recent legal actions initiated by the U.S. Justice Department against Visa highlight significant issues within the American payment processing industry. As the largest entity in this sector, Visa is accused of operating an illegal monopoly through exclusionary practices that stifle competition and inflate costs for consumers and merchants alike. The ramifications of this lawsuit
Business
In a strategic shift, American Airlines is reportedly negotiating with Citigroup to become its tailor-made credit card partner, potentially severing ties with Barclays, which has served as a financial ally since the 2013 merger with US Airways. This transition signals a significant moment for both American Airlines and its loyalty program, as the airline seeks
In the Pacific Northwest, Boeing finds itself ensnared in a striking crisis that threatens its financial stability and production capabilities. As workers press for increased pay amid rising living costs, the ongoing machinist strike illustrates a significant labor dispute with far-reaching implications. This article delves into the details of the situation, exploring the motivations behind
In a significant move reflective of Boeing’s ongoing challenges, the company announced that Ted Colbert, head of its defense unit, is departing effective immediately. CEO Kelly Ortberg, who recently stepped into his role in August, revealed this leadership change as part of a broader effort to rejuvenate the company. The urgency of this decision underscores
In a dramatic shift in the landscape of U.S. healthcare, the Federal Trade Commission (FTC) has initiated a lawsuit against three leading pharmacy benefit managers (PBMs)—Optum Rx, Caremark, and Express Scripts. These entities, integral to managing prescription drug benefits for insurers, are accused of exploiting their market position to secure hefty profits at the expense
In a surprising move, Nike has announced that John Donahoe, who has been at the helm since January 2020, will retire from his role as CEO, a decision regarded as both timely and necessary by industry pundits. Elliott Hill, a seasoned Nike veteran, will come out of retirement to fill the void, assuming leadership the
Darden Restaurants released its quarterly earnings report on Thursday, revealing results that did not meet Wall Street analysts’ expectations. The company, known for its popular dining chains such as Olive Garden and LongHorn Steakhouse, reported a slight dip in both earnings and revenue. According to CEO Rick Cardenas, the company experienced weakened sales, particularly in
The Women’s National Basketball Association (WNBA) is on a trajectory of considerable growth, recently announcing the addition of its 15th franchise in Portland, Oregon. This surge in expansion, now including three new teams with the Portland franchise slated to begin play in 2026, underscores the league’s ambitions and the escalating popularity of women’s sports. At