Southwest Airlines third-quarter profit fell from a year ago but topped Wall Street estimates while the carrier works to drum up revenue and fend off activist investor Elliott Investment Management. The Dallas-based carrier on Thursday forecast unit revenue for the fourth quarter up 3.5% to 5.5% on a 4% drop in capacity compared with a…
Bob Jordan, CEO of Southwest Airlines, listens to questions from media during Southwest Airlines Investor day at Southwest Airlines Headquarters on September 26, 2024 in Dallas, Texas. Sam Hodde | The Washington Post | Getty Images Southwest Airlines and activist investor Elliott Investment Management announced Thursday they’ve struck a settlement deal that staves off a…
TKO Group, the company that owns WWE and UFC, is expanding into sports-adjacent properties by acquiring three businesses for $3.25 billion from its controlling owner, Endeavor Group. The businesses are Professional Bull Riders, On Location, and IMG, the companies announced Thursday. The deal is all stock, and Endeavor’s ownership in TKO will increase from 53% to…
Who says Britain is broken? Not me. Not here anyway. This is where I try to celebrate what’s good about the country I call home. In this spirit, I offer up a widely available sort-of-free-at-the-point-of-use service that never lets me down. There can’t be a more efficient such service anywhere on earth. I’m sure it’s…
Disposable vapes will be banned from sale in England next summer, the government has confirmed. From June 2025 it will be illegal to sell single-use vapes, in a move designed to combat environmental damage and their widespread use by children. The legislation had been laid out in parliament, the Department for Environment, Food and Rural…
Introduction: BoE’s Bailey says UK inflation cooling faster than expected Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. The governor of the Bank of England has declared that UK inflation is cooling more rapidly than expected, as policymakers gather in Washington DC to discuss the state…
Ahead of the budget next week, the Guardian’s John Harris is in Birmingham, where the city council in effect declared itself bankrupt in 2023. He spends time with people struggling with the severe spending cuts and asks what will happen if the chancellor Rachel Reeves does not offer more financial support Support the Guardian today:…
Former Abercrombie & Fitch Chairman and CEO Mike Jeffries addresses stockholders during the company’s annual meeting at its headquarters in New Albany, Ohio, on May 22, 2003. Will Shilling | Via Reuters Abercrombie & Fitch washed its hands of its former CEO Mike Jeffries after he was arrested on federal sex trafficking charges, saying in…
David Einhorn speaking at the 2024 Sohn Conference in New York City on April 3, 2024. Adam Jeffery | CNBC Shares of Peloton spiked more than 11% on Wednesday after Greenlight Capital’s David Einhorn said shares of the company are significantly undervalued, CNBC has learned. Einhorn made the pitch to investors while he was riding…
A customer walks out of a McDonald’s restaurant in Omaha, Nebraska, on Oct. 23, 2024. Mario Tama | Getty Images The Centers for Disease Control and Prevention told McDonald’s late last week about a potential link to an E. coli outbreak, company spokespeople said Wednesday. At that time, the number of connected cases was smaller…
