In a surprising move, Brazilian private equity firm 3G Capital recently divested its 16.1% stake in Kraft Heinz, signaling the end of an era. This decision came nearly nine years after orchestrating the merger between Kraft Foods and Heinz alongside Warren Buffett. The gradual decrease in 3G’s control over Kraft Heinz became evident as its
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Spirit Airlines recently announced that it will be deferring deliveries of new Airbus planes in an effort to boost liquidity. This decision comes as the airline plans to furlough approximately 260 pilots. CEO Ted Christie emphasized the necessity of these steps in ensuring a strong and profitable future for Spirit. The deferral of Airbus planes
The solar eclipse on Monday had an unexpected impact on some of the country’s smaller airports, causing disruptions that are not typically seen on a regular basis. While delays and cancellations are often a result of bad weather and heavy traffic at major airports, the high demand for prime eclipse viewing locations led to some
As Gatorade approaches its 60th year in the market, it continues to evolve and adapt to the changing landscape of the sports drink industry. Since its inception in 1965, Gatorade has been a dominant force in the sports drink market, accounting for a significant portion of sales. However, with the emergence of new competitors and
Boeing’s outgoing CEO Dave Calhoun experienced a significant decrease in his take-home pay, dropping to $5 million last year from $7 million in 2022. This decrease came as Calhoun declined a bonus due to the prolonged safety crisis surrounding the company’s best-selling jetliner, the 737 Max. While his total compensation increased by 45% to $32.8
The Walt Disney Company recently announced its upcoming theatrical lineup which includes highly anticipated films such as a new “Toy Story” installment and another “Tron” movie by the end of 2026. This announcement comes at a time when the company’s theatrical business has been facing challenges due to the impact of pandemic shutdowns and labor
Artificial intelligence has been revolutionizing various industries for years, with weather forecasting being one of the key areas that has benefited greatly from AI technology. Recent advancements in generative AI have opened up new possibilities for even more accurate weather predictions, prompting companies like Spire Global to explore new partnerships with AI giants like Nvidia.
Ford Motor’s decision to delay production of a new all-electric large SUV and pickup truck signifies a significant shift in its EV production plans. The company is now focusing on offering hybrid options across its entire North American lineup by 2030, indicating a change in strategy in response to slower than expected adoption of electric
Disney shareholders celebrated a major victory this week as they reelected the media conglomerate’s full board. The preliminary results delivered a stinging defeat to activist Nelson Peltz and former Marvel CEO Ike Perlmutter, who had been pushing for changes within the company. The board’s decisions, including bringing back CEO Bob Iger and efforts to reinvigorate
In a surprising turn of events, Bloomberg News reported that Disney’s largest shareholder, index fund manager Vanguard, plans to support management over Nelson Peltz’s Trian Partners in an upcoming board vote. This decision comes as a blow to Peltz’s ambitions to join Disney’s board, considering that Vanguard holds a significant 7.8% of Disney shares. The