JPMorgan Chase reported record-breaking quarterly and annual earnings and revenue on Wednesday, cementing its position as the largest and most profitable bank in U.S. history. The bank revealed a 50% surge in profit, reaching $14 billion for the fourth quarter. This growth was driven by a 7% reduction in noninterest expenses compared to the previous … Read more
Goldman Sachs reported fourth-quarter earnings on Wednesday that exceeded expectations, driven by robust trading revenue and strong performance across key divisions. The bank announced that profit nearly doubled compared to the previous year, reaching $4.11 billion, or $11.95 per share, as revenue growth coincided with a reduction in expenses. Total revenue rose 23% to $13.87 … Read more
Texas-based rocket and spacecraft manufacturer Firefly Aerospace is making its way to the Moon. Firefly’s “Blue Ghost” cargo lander launched early Wednesday morning aboard SpaceX’s Falcon 9 rocket from Florida, beginning its 45-day journey to the lunar surface. This marks Firefly’s inaugural moon mission as the company seeks to establish itself in the growing NASA-led … Read more
The Consumer Financial Protection Bureau (CFPB) announced on Tuesday that it is suing Capital One for allegedly misleading consumers about the interest rates on their savings accounts and “cheating” them out of more than $2 billion in earned interest. In a statement, the CFPB accused Capital One of deceiving customers who held its “360 Savings” … Read more
Disney, Fox, and Warner Bros. Discovery have officially decided to abandon their planned sports streaming service, Venu, the companies announced in a joint statement on Friday. “After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” the statement read. “In an ever-changing marketplace, we determined … Read more
Airlines have expanded travel waivers for Los Angeles-area airports as wildfires continue to ravage the region. Major carriers, including American Airlines, United Airlines, Southwest Airlines, and JetBlue Airways, have waived flight change fees for travelers scheduled to fly to Los Angeles. The city is grappling with widespread challenges such as power outages, water shortages, and … Read more
Harris Blitzer Sports & Entertainment (HBSE) announced on Monday a joint venture with Comcast Spectacor to construct a new arena in South Philadelphia that will serve as the home for the NBA’s 76ers and the NHL’s Flyers. This decision marks a significant shift from earlier plans to build an arena in Philadelphia’s Center City district. … Read more
Walgreens announced fiscal first-quarter earnings and revenue on Friday that exceeded expectations, attributing the results to ongoing cost-cutting measures and store closures as it navigates a challenging period. For the three months ending November 30, Walgreens reported the following compared to Wall Street expectations based on an LSEG analyst survey: Despite outperforming estimates, Walgreens reaffirmed … Read more
Delta Air Lines provided an optimistic first-quarter outlook on Friday, exceeding analyst expectations as the carrier predicted strong travel demand to kick off the year. CEO Ed Bastian stated that 2025 is shaping up to be the airline’s best financial year to date. Delta projects more than $4 billion in free cash flow for 2025, … Read more
Ford Motor’s operations in China generated approximately $600 million in earnings last year, a notable achievement given the challenging market environment, CEO Jim Farley announced Thursday evening. “I’m happy to say that Ford makes money in China, and I’m very proud of that, because not many [automakers] can say that,” Farley stated after revealing a … Read more