Investors are shifting from Tesla to Eli Lilly as the latter’s diabetes and weight loss drugs rake in huge profits. Tesla’s market value dropped by $210 billion (27%) in the first five weeks of 2024, while Eli Lilly’s rose by $140 billion (23%). Eli Lilly’s shares surged 5% on strongContinue Reading
Brunswick, the world’s largest recreational boat maker, showcased its latest innovations at CES, including the “Marina of the Future” featuring boats from brands like Boston Whaler and Sea Ray. CEO David Foulkes unveiled two new electric outboard motors, part of the Avator line, designed for smaller to slightly larger boats.Continue Reading
Citigroup CEO Jane Fraser plans to cut 20,000 jobs by 2026, saving $2.5 billion. Another 40,000 positions may be shed during the IPO of its Mexican unit, Banamex. This restructuring aims to make Citigroup more efficient and focused on serving multinational corporations. The bank’s workforce would reduce by 25%, leavingContinue Reading
The world’s largest retailer is committed to providing quality and convenience, boasting a location within 10 miles of 90% of the U.S. population, contributing to its impressive $611 billion revenue in fiscal 2023. However, shifting economic landscapes have affected even the retail giant. With rising interest rates post-pandemic and changingContinue Reading
On Tuesday, the Fifth Circuit Court of Appeals granted a temporary victory to Texas by blocking the Biden administration from removing razor wire barriers placed at the border by Texas authorities. The court ruled that, during the appeal, the government is prohibited from damaging or interfering with Texas’s concertina wireContinue Reading
Ukraine’s President Volodymyr Zelenskiy announced plans for a potential mobilization of 450,000-500,000 additional Ukrainians into the armed forces, intensifying the country’s conflict with Russia. Zelenskiy emphasized that the decision is sensitive and will be discussed with the military and government before consideration by parliament. The move aims to replace fightersContinue Reading
Texas Governor Greg Abbott traveled to the Rio Grande Valley to sign three bills aimed at reinforcing efforts to deter illegal immigration at the Texas-Mexico border. Senate Bill 3 allocates $1.54 billion for the continuation of border barrier construction and authorizes up to $40 million for state troopers to patrolContinue Reading
Apple is set to halt U.S. sales of its Apple Watch 9 and Ultra 2 following a U.S. International Trade Commission ruling in an intellectual property lawsuit. The ruling, which found Apple’s blood oxygen sensors infringed on patents held by Masimo, gives Apple two months to negotiate a licensing agreementContinue Reading
