Delta Air Lines on Thursday said last month’s CrowdStrike outage and subsequent mass flight cancellations cost it some $550 million and reiterated that it is pursuing legal claims against the company as well as Microsoft. The financial impact includes a $380 million revenue hit in the current quarter “primarily driven by refunding customers for cancelled flights and providing customer compensation in the form of cash and ...
LONDON — E-commerce giant Amazon’s multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator. The Competition and Markets Authority said Thursday that it has begun a “Phase 1” investigation into Amazon’s investment and partnership with Anthropic to assess whether the deal has resulted in a relevant merger situation that may harm competition in the ...
Aerospace veteran Robert “Kelly” Ortberg becomes Boeing’s new CEO on Thursday with a singular mission: restoring the reputation of a U.S. manufacturing icon. That enormous goal will involve thousands of daily decisions that will determine whether Boeing can earn back the trust of regulators, airlines and the public; end persistent production defects; deliver aircraft on time and consistently to customers large and small; ...
After years of starts and stops at the box office, Disney appears to have hit a groove in 2024. Its latest Pixar film, “Inside Out 2,” is now the highest-grossing animated film of all time, topping $1.5 billion at the global box office. Its first R-rated Marvel Cinematic Universe flick — “Deadpool & Wolverine” —broke opening weekend records for an R-rated film and is set ...
Here’s a surprise: Disney’s media business isn’t weighing down the company anymore. The primary Disney investor narrative since 2022 has been how streaming losses, combined with a declining traditional pay TV business and a string of box office failures, have been anchoring surging sales and profits at the company’s theme parks and resorts. The result has been a company whose shares have fallen ...
In ruling Monday that Google has held a monopoly in internet search, U.S. judge Amit Mehta invoked the company at the center of the most famous tech antitrust case in U.S. history: Microsoft. A federal judge determined in 1999 that Microsoft had illegally used the market power of its Windows operating system to box out rival browsers, namely Netscape Navigator. A settlement in 2001 forced ...
Members of the main U.S. transportation regulator grilled Boeing executives Wednesday over the company’s workplace safety culture and allegations of retaliation linked to two employees who were sidelined over a January mishap involving a Boeing 737 Max 9 in which a door plug detached mid-flight. Jennifer Homendy, chair of the National Transportation Safety Board, or NTSB, directed a series of ...
A particular type of retail fraud soars during the summer season. “Wardrobing,” in which a shopper buys an expensive item, wears it with the tags on, and then returns the product for a refund, picks up as shoppers bolster their closets for summer vacations, according to returns management software company Optoro. “During the summer and cruise season, from July to ...
Stocks slipped into the red as markets closed Wednesday, losing gains from earlier in the day as Wall Street failed to recoup losses from Monday’s massive sell-off. The Dow Jones Industrial Average fell 163 points, or 0.4%. The S&P 500 declined 0.5%, while the Nasdaq Composite dropped 0.7%. Earlier in Wednesday’s trading session, the Dow rallied more than 300 points. The broad S&P 500 and the ...
The days of sneaking into Costco with someone else’s card are coming to an end. The retailer is cracking down on membership card sharing with a new policy where all cards will be scanned at store entrances. Costco said in a recent statement on its website: “Over the coming months, membership scanning devices will be used at the entrance door ...