NASA and Boeing have recently announced an extension to the first crewed flight of the Starliner capsule, named “Calypso”, at the International Space Station. The decision to prolong the stay of the spacecraft was made to conduct additional testing on the ground. This prolonged stay comes as Boeing’s crew flight test marks the first time
Business
The automotive industry is witnessing a significant shift as Chinese automakers set their sights on expanding their global market share. A recent report by AlixPartners projects that Chinese automakers aim to achieve 33% of the global automotive market share by 2030, a considerable leap from the forecasted 21% market share this year. This rapid expansion
Southwest Airlines saw a significant drop in its shares during premarket trading as it slashed its second-quarter revenue forecast due to changing booking patterns. The airline now anticipates a decline of 4% to 4.5% in revenue per available seat mile for the second quarter, a drastic change from its previous estimate of a 1.5% to
The first half of 2024 has shown a 2.9% increase in U.S. auto sales compared to the previous year. However, there are looming concerns that this momentum may not be sustained in the last six months of the year. Factors such as growing vehicle inventory levels, increasing incentives, and uncertainties surrounding the economy, interest rates,
Target, a Minneapolis-based discounter, is aiming to rejuvenate its online marketplace by collaborating with Shopify. This partnership will enable businesses that utilize Shopify’s platform to apply to become part of Target Plus, Target’s third-party marketplace. By incorporating up-and-coming brands that utilize Shopify, Target is looking to revamp its website with new and trendy products. While
Sales of existing homes in the United States have hit a 30-year low, with little movement in May. The National Association of Realtors reported a 0.7% drop in sales from April, totaling an annualized rate of 4.11 million units. This trend indicates a 2.8% decrease compared to May of the previous year. The sluggish sales
Gilead Sciences recently announced that its experimental twice-yearly medicine to prevent HIV has shown promising results in a late-stage trial. The medication, known as lenacapavir, was found to be 100% effective in preventing HIV transmission among the participants in the study. This breakthrough has the potential to revolutionize pre-exposure prophylaxis (PrEP) and expand Gilead’s foothold
In recent times, the box office has been missing a key component – family films. Despite a few successful releases like “Super Mario Bros.,” many family-friendly movies have either chosen to debut on streaming platforms due to the pandemic or release dates have been so scattered that any ticket sales momentum quickly fizzled out. However,
Sen. Elizabeth Warren, a Democratic senator from Massachusetts, recently accused Federal Reserve Chair Jerome Powell of caterin to the financial industry’s interests by considering alterations to a set of regulations designed to enhance the capital requirements for large American banks. Warren expressed her disappointment in Powell in a letter dated June 17, in which she
The recent news of Fisker filing for Chapter 11 bankruptcy protection has sent shockwaves through the electric vehicle (EV) industry. This event is not an isolated incident, as several other EV startups have faced similar challenges and ultimately collapsed. Fisker’s downfall is a cautionary tale that highlights the pitfalls of the industry and serves as