Business

The landscape of airline loyalty programs is undergoing a significant transformation, highlighted by American Airlines’ negotiations to establish Citigroup as its exclusive credit card partner. Previously aligned with Barclays since the 2013 acquisition of US Airways, American Airlines is now seeking to consolidate its financial partnerships in a bid to maximize the profitability of its
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In a surprising move, Ted Colbert, the head of Boeing’s defense unit, has departed from the company, as announced by CEO Kelly Ortberg. This abrupt change marks Ortberg’s first significant leadership alteration since he assumed his role in early August. Effective immediately, Colbert’s exit underscores the ongoing challenges faced by Boeing and highlights the urgency
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In a bold move to tackle the rising costs associated with insulin—a life-saving medication for millions of Americans with diabetes—the Federal Trade Commission (FTC) has initiated a lawsuit against three major Pharmacy Benefit Managers (PBMs): Optum Rx, Caremark, and Express Scripts. These companies play a crucial role in the intricate web of drug pricing and
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Darden Restaurants faced a challenging first quarter as it reported earnings and revenues that fell below expectations. The company, known for popular chains such as Olive Garden and LongHorn Steakhouse, experienced sales declines primarily stemming from weakened customer engagement at its flagship brands. For the quarter ending August 25, Darden’s earnings per share reached $1.75,
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Recent developments suggest that technology titan Apple is pursuing a significant shift in its credit card program, moving discussions to JPMorgan Chase. This potential transition marks a critical juncture for the Apple Card, which has been under the management of Goldman Sachs. As these discussions unfold, the implications could significantly reshape not only Apple’s financial
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The recent proposal from the Federal Deposit Insurance Corporation (FDIC) regarding stringent record-keeping requirements for banks collaborating with financial technology (fintech) companies has ignited a crucial conversation about consumer protection in the evolving landscape of digital finance. This initiative emerges in the wake of the Synapse collapse, which left thousands of Americans unable to access
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In a significant development for the automotive industry, the United Auto Workers (UAW) union has lodged federal unfair labor practice charges against Stellantis. This move highlights the ongoing tension between labor unions and major automotive manufacturers, particularly in the wake of recent production cuts and layoffs. The UAW’s grievances stem from an alleged breach of
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