The ongoing car finance commission scandal in the UK has raised concerns among investors and business leaders about the country’s regulatory approach, with many stating that the uncertainty is making it “difficult to operate.” Estimates suggest that lenders involved in the scandal could face compensation costs as high as £30 billion. However, even companies not … Read more
In 2024, the wealth of the world’s billionaires increased by $2 trillion (£1.64 trillion), a surge three times faster than in 2023, translating to an astounding $5.7 billion a day. This latest inequality report highlights a significant shift: the world is now on track to have five trillionaires within a decade, a marked change from … Read more
This year is set to be a pivotal one for Amazon’s autonomous vehicle division, Zoox, as the company accelerates efforts to expand operations and commercialize its robotaxi service. Zoox plans to begin offering rides to the public “quite soon,” broaden its operational regions, and significantly grow its self-driving vehicle fleet beyond the few dozen currently … Read more
The Federal Aviation Administration (FAA) announced on Friday that SpaceX’s Starship rocket will remain grounded until the company and the agency complete an investigation into the midflight failure of the most recent test flight. The incident forced airlines to divert flights and delayed several others. In a statement, the FAA confirmed that there have been … Read more
The Federal Trade Commission (FTC) announced on Friday that it has filed a lawsuit against PepsiCo, accusing the food and beverage giant of engaging in illegal price discrimination. The agency alleges that PepsiCo offered preferential pricing to an unnamed retailer at the expense of its competitors. The FTC’s lawsuit claims that PepsiCo violated the Robinson-Patman … Read more
Sales of all-electric and hybrid vehicles reached a significant milestone last year, accounting for 20% of all new car and truck sales in the U.S. This achievement marks a turning point for “green” vehicles, even though the adoption rate has progressed more slowly than many had initially predicted. According to auto data firm Motor Intelligence, … Read more
According to a report released Thursday by AARP, most Medicare patients who reach the newly implemented $2,000 cap on out-of-pocket prescription drug spending could experience significant savings, even with changes in premiums. The cap, which took effect at the beginning of this year, is expected to provide substantial relief to older adults enrolled in Medicare … Read more
Spirit Airlines is cutting approximately 200 jobs across its organization as the financially troubled budget carrier works to reduce expenses following its Chapter 11 bankruptcy filing in November. “These decisions were not made lightly, as we know they impact professional and personal lives,” wrote CEO Ted Christie. “As you all know, we’re facing significant challenges … Read more
The Federal Trade Commission (FTC) has filed a lawsuit against agricultural equipment manufacturer Deere & Company, alleging that the company holds a monopoly over repair services, resulting in higher costs and delays for farmers, the agency announced on Wednesday. According to the lawsuit, Deere has restricted customers’ ability to repair their equipment, such as tractors … Read more
Blue Origin launched its massive New Glenn rocket for the first time on Thursday, marking a pivotal milestone for Jeff Bezos’ space exploration company. In the early hours in Florida, New Glenn roared to life, ascending off the launch pad and reaching space, ultimately achieving orbit as part of its long-awaited debut mission. While the … Read more