In a recent ruling, the St. Louis-based 8th U.S. Circuit Court of Appeals extended an order blocking President Joe Biden’s administration from further implementing a student debt relief plan aimed at reducing monthly payments for millions of borrowers and expediting loan forgiveness for some. The court granted an injunction requested by seven Republican-led states, arguing
As the week came to a close, the S&P 500 showed resilience, ending on a positive note despite a tumultuous start. The market had been rattled by fears of a recession and concerns surrounding the unwinding of a global yen-funded carry trade. The technology sector emerged as a saving grace on Friday, providing the index
Automaker Stellantis recently announced its plans to indefinitely lay off up to 2,450 U.S. factory workers as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan. The decision comes as the company shifts its focus towards newer models and streamlining operations. The discontinuation of the Ram 1500 “Classic” vehicle
The recent cancellation of three Taylor Swift concerts in Austria due to a foiled attack has left insurers facing millions of dollars in claims. The cancellation not only impacted the concert attendees, also known as “Swifties,” but it also put a financial strain on insurance providers. Despite several providers sharing the hit, the magnitude of
In a surprising move, Venezuelan President Nicolas Maduro issued a 10-day ban on the social networking platform X, citing violations of the country’s laws. The ban came after a heated exchange with tech mogul Elon Musk, who accused Maduro of election fraud. Maduro vs. Musk The feud between Maduro and Musk escalated when Musk called
Taiwan Semiconductor saw a 1% rise in its stock before the market opening due to strong July revenue, showing a nearly 45% increase from the previous year. This positive growth indicates the company’s ability to capitalize on the growing demand for chips in various industries. The Trade Desk witnessed a 4% increase in its shares
This weekend at the box office promises to be a special one, with a surprising contender entering the race. Colleen Hoover’s novel adaptation, “It Ends With Us,” is gearing up to challenge the dominance of Disney/Marvel Studios’ “Deadpool” and “Wolverine” in its third weekend. The industry is abuzz with the unexpected success of this femme-driven
E.l.f. Beauty saw a significant increase of 50% in sales in its fiscal first quarter, following a 76% jump in the year-ago period. Despite this impressive growth, the company cautioned about higher costs related to containers and transportation in the future. This led to a mixed reaction from investors, with shares rising during the regular
Delta Air Lines recently revealed that the CrowdStrike outage and subsequent mass flight cancellations in the previous month cost the company a significant $550 million. The financial impact included a $380 million revenue hit in the current quarter, primarily due to refunding customers for cancelled flights and providing compensation in cash and SkyMiles. Additionally, there
In the wake of Eli Lilly’s impressive second-quarter earnings report, the company’s stock price surged by a significant 8%. This surge was largely attributed to the company’s revenue and earnings blowing past expectations, as well as the increase in its full-year revenue outlook by $3 billion. The sales of the blockbuster diabetes drug Mounjaro and