More than eight out of every 10 respondents to a Morgan Stanley survey believe Tesla CEO Elon Musk’s controversial political activities are hurting his business. In total, 85% of the 245 participants polled by the firm believe Musk’s foray into politics has either had a “negative” or “extremely negative” impact on business fundamentals. The majority of respondents also expect Tesla deliveries to fall ...
Spirit Airlines is out of bankruptcy, hitting its target to emerge in the first quarter, after a crippling few years. CEO Ted Christie says the carrier is leaner and ready to take on competitors, including rival Southwest Airlines. Earlier this week, Southwest shocked customers by announcing it will start charging for checked bags for the first time in its half-century of flying, a huge strategy ...
Donatella Versace announced Thursday that she is stepping down as chief creative officer of Versace, ending her nearly 30-year-long stint at the Italian luxury fashion empire’s helm. Versace, 69, took on the role to lead the luxury fashion house after her brother and its founder, Gianni Versace, was fatally gunned down outside his Miami Beach mansion in 1997. ‘It has been ...
The Federal Trade Commission asked a judge in Seattle to delay the start of its trial accusing Amazon of duping consumers into signing up for its Prime program, citing resource constraints. Attorneys for the FTC made the request during a status hearing on Wednesday before Judge John Chun in the U.S. District Court for the Western District of Washington. Chun had set ...
Three separate outages appeared to hit Elon Musk’s X social media site Monday as he claimed it was suffering a ‘massive cyberattack.’ Downdetector.com first registered thousands of reports of trouble accessing or using the site around 5:30 a.m. ET. It took about an hour before those issues subsided. Then, around 9:30 a.m., the issues appeared to flare up again, with ...
Tesla’s selloff on Wall Street intensified on Monday, with shares of the electric vehicle maker plunging 15%, their worst day on the market since September 2020. On Friday, Tesla wrapped up a seventh straight week of losses, its longest losing streak since debuting on the Nasdaq in 2010. The stock has fallen every week since CEO Elon Musk went to Washington, D.C., to take on ...
Dick’s Sporting Goods on Tuesday said it’s expecting 2025 profits to be far lower than Wall Street anticipated, making it the latest retailer to forecast a rocky year ahead as consumers contend with tariffs, inflation and fears around a potential recession. In an interview with CNBC, Executive Chairman Ed Stack said the company’s exposure to China, Mexico and Canada for sourcing ...
It’s happening: Southwest Airlines will start charging passengers to check bags for the first time. It’s a stunning reversal that shows the low-cost pioneer is willing to part with a customer perk executives have said set it apart from rivals in more than half a century of flying in hopes of increasing revenue. Southwest’s changes come after months of pressure from activist Elliott Investment Management. The ...
The Trump Organization sued Capital One in Florida on Friday for allegedly “unjustifiably” closing more than 300 of the company’s bank accounts on the heels of the Jan. 6, 2021, riot at the U.S. Capitol by a mob of President Donald Trump’s supporters. The lawsuit said that the Trump Organization and related entities “have reason to believe that Capital One’s unilateral decision came about as a result of ...
For years, American financial companies have fought the Consumer Financial Protection Bureau — the chief U.S. consumer finance watchdog — in the courts and media, portraying the agency as illegitimate and as unfairly targeting industry players. Now, with the CFPB on life support after the Trump administration issued a stop-work order and shuttered its headquarters, the agency finds itself with an unlikely ally: the ...