The long-standing competition between the nation’s leading premium credit cards is about to intensify once more. JPMorgan Chase announced last week that a refreshed version of its Sapphire Reserve card — the travel and dining rewards card that gained viral popularity when it launched in 2016 — is on the way. In a direct response,…
Boeing Skips Paris Air Show After Dreamliner Crash as Industry Faces Mounting Challenges
Kelly Ortberg’s first Paris Air Show as CEO of Boeing was expected to carry a notably optimistic tone. Since Ortberg took the reins in August, Boeing has made meaningful progress, including boosting output of its top-selling 737 Max aircraft, stepping up deliveries of new planes — a key revenue driver — and signaling a rebound…
JBS Makes Strong U.S. Market Debut Amid Controversy and Long-Awaited Listing
Shares of Brazilian meatpacking giant JBS rose on Friday as the company made its debut on the U.S. public markets. The stock opened at $13.65 per share, giving the company a valuation of roughly $30 billion, which surpasses the market cap of its U.S. rival, Tyson Foods, currently valued at about $19.82 billion. By the…
Retail Executives Grow Confident in Tariff Stability Amid Shifting Trade Landscape
Retail executives are growing increasingly confident in what’s being dubbed the “TACO trade.” After weeks of evolving trade policies, early negotiations, and ongoing court challenges, a new survey from consulting firm AlixPartners reveals a shift in sentiment among retail leaders. The June 1 poll, which included executives from consumer brands, retail chains, and related industries,…
Starbucks New AI Assistant to Boost Café Efficiency and Support Baristas
Starbucks is preparing to introduce a generative artificial intelligence assistant, developed in collaboration with Microsoft through Azure’s OpenAI platform, to 35 store locations this month. The rollout is part of the company’s broader strategy to simplify baristas’ tasks and accelerate service times within its cafes. The technology was unveiled to more than 14,000 store managers…
GM to Invest $4 Billion in U.S. Plants, Shifts Production from Mexico Amid Recalibration
General Motors announced Tuesday that it plans to invest $4 billion into three U.S. assembly plants, part of a broader move that includes relocating or expanding production of two vehicles currently built in Mexico. This announcement comes amid stalled trade negotiations between the Trump administration and Mexican officials. Earlier in the year, President Donald Trump…
China’s EV Price War Sparks Industry Turmoil and Fears of an ‘Evergrande-like’ Collapse
At a used car market in Beijing, salesman Ma Hui expressed concern that China’s electric vehicle (EV) industry is caught in a destructive race to the bottom. He pointed out that EV manufacturers, led by BYD—the country’s market leader—have been locked in an intense price war that has not only squeezed the margins of automakers…
Fund Managers Sound Alarm as Trump Tax Bill Threatens Foreign Investment in U.S. Markets
American fund managers are lobbying Congress over a provision in President Donald Trump’s tax bill that could discourage foreign investment in U.S. stock markets. The “One Big Beautiful Bill Act,” passed by the House and under Senate review, includes Section 899 — a measure designed to penalize foreign-owned firms from countries that impose what the…
Gary Black Dumps Tesla Over Musk Concerns, Shifts Focus to Undervalued Tech Leaders
Gary Black, managing partner at The Future Fund and a former Wall Street executive, recently sold his remaining Tesla shares, steering clients away before a selloff triggered by Elon Musk’s public spat with Donald Trump. Black had initially embraced Tesla in 2021, making it a central holding in his ETF. However, he started reducing exposure…
Zuckerberg Forms Elite Team to Revamp Meta’s Struggling AGI Effort Amid Rival Pressure
Mark Zuckerberg, CEO of Meta Platforms, is reportedly assembling a specialized team aimed at developing artificial general intelligence (AGI) technology that can equal or surpass human cognitive abilities. According to Bloomberg News, this initiative aligns with Meta’s growing ambition to dominate the AI space, positioning itself alongside rivals like OpenAI. This move highlights the increasing…