Tesla drastically cut the prices of its vehicles in China by more than 10 percent on Friday, marking the second time the electric vehicle (EV) maker has done so in less than three months. While announcing prices for its Model S sedans and Model X sports utility vehicles, Tesla revealed that its Model 3 and Model Y…
Tesla Cuts Prices of Model 3, Model Y Vehicles in China for Second Time in Three Months
Global Stocks Tepid Before US Jobs Test; Dollar Stands Tall
January 6, 2023
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LONDON, TOKYO—Global equities were set to end the first week of 2023 on a tepid note and the dollar stood tall as fears of higher U.S. interest rates hit market sentiment. The MSCI World equity index traded steadily on Friday, on course for its fifth consecutive weekly drop despite a brief rally earlier in the…
Walgreens Sales Drop Amid Falling Demand for COVID-19 Vaccines, Testing Kits
Drugstore chain Walgreens Boots Alliance saw its sales drop 1.5 percent in the most recent quarter amid a decline in demand for COVID-19 vaccines and testing kits. In its fiscal year 2023 first quarter results published on Jan. 5, the company—one of the largest U.S. pharmacies—said it administered 8.4 million COVID-19 vaccinations in the quarter, down…
Delta Air Lines to Offer Free Wi-Fi on Most Flights Next Month
Passengers flying on Delta Air Lines will soon be able to connect to a free Wi-Fi service on most flights, beginning in February, the company said on Jan. 5. CEO Ed Bastian announced the move at the CES technology trade show, noting that the decision to provide the free service was prompted by the COVID-19 pandemic,…
Bed Bath & Beyond Shares Tumble as Company Says ‘Substantial Doubt’ It Can Continue
Shares of Bed Bath & Beyond dropped drastically on Jan. 5 after the company warned it is considering bankruptcy amid mounting debt and waning finances, noting that there is “substantial doubt” that the retailer will be able to continue. The company issued the warning in its estimated financial results for the three months ending Nov. 26,…
Opioid Legal Charge Pushes Walgreens to $3.7 Billion Fiscal First Quarter Loss
A huge opioid settlement dragged Walgreens to a $3.7 billion loss for the first quarter, but the drugstore chain still beat Wall Street forecasts. The company also reaffirmed its earnings forecast for the new year. Walgreens said Thursday that it recorded a $5.2 billion, after-tax charge in the quarter that ended Nov. 30 for opioid-related…
FAA Names Experts to Review Boeing Safety Culture After Fatal Crashes
WASHINGTON—The Federal Aviation Administration (FAA) said Thursday it had named 24 experts to review Boeing’s safety management processes and how they influence Boeing’s safety culture after two fatal 737 MAX crashes killed 346 people. The panel, which was required by Congress under a 2020 law to reform how the FAA certifies new airplanes, includes MIT…
Walgreens to Pause Mergers & Acquisitions Deals, Focus on Healthcare Pivot
Walgreens Boots Alliance said on Thursday it will not strike new deals in the short term after a spate of acquisitions in recent years, as it focuses on ramping up sales at its newer healthcare business. The company, one of the largest U.S. pharmacies, has been looking to gain a bigger foothold in the healthcare…
Adam Kinzinger Joins CNN as Senior Political Commentator
Former Rep. Adam Kinzinger (R-Ill.) will be joining CNN as a senior political commentator, the legacy media giant announced on Jan. 4. The move comes after the formal end of the 117th Congress, in which Kinzinger served. Early in the Congress, Kinzinger announced that he would not be seeking reelection. “Former Rep. Adam Kinzinger (R-IL)…
DOJ to Seize $465 Million of Robinhood Shares Linked to FTX Founder Bankman-Fried
Department of Justice prosecutors plan to seize $465 million of Robinhood shares tied to FTX founder and former CEO Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange. In May, Bankman-Fried purchased a 7.6 percent stake in Robinhood, worth about $648 million at the time, according to a Securities…
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