Tag: cuts

2024-12-06

JetBlue cuts more unprofitable routes, tweaks Europe flights

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Business

Silhouette of passenger in front of the JetBlue Airbus A321neo aircraft spotted on the apron tarmac docked at the passenger jet bridge from the terminal of Amsterdam Schiphol International Airport AMS EHAM in the Netherlands.  Nicholas Economou | Nurphoto | Getty Images JetBlue Airways told staff Wednesday that it is axing more unprofitable flights, redeploying aircraft outfitted with its…

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2024-10-15

Elliott asks for December special meeting at Southwest, cuts board slate

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Business

Travelers check in at a Southwest counter at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Tuesday, July 23, 2024. Elijah Nouvelage | Bloomberg | Getty Images Elliott Investment Management has requested a special meeting at Southwest Airlines, formalizing the launch of a long-signaled proxy fight for control of the carrier’s board. The activist is seeking a…

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2024-10-11

7-Eleven’s parent company cuts full-year earnings forecast

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A customer is seen inside a 7-Eleven convenience store along a street in central Tokyo on September 9, 2024.   Richard A. Brooks | Afp | Getty Images Japanese convenience retailer Seven & i Holdings slashed its earnings forecasts and pressed ahead with restructuring plans that include spinning off non-core businesses into a standalone subsidiary. The company slashed its profit…

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2024-10-06

No more half-point rate cuts

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Business

Well, that was unexpected. The U.S. economy added a whopping 254,000 jobs in September, nearly 100,000 more than economists expected. The unemployment rate, which was expected to hold steady at 4.2%, slipped to 4.1%. Wages also rose more than expected month over month. Stock futures rallied following the news. Dow Jones Industrial Average futures popped 255 points, or 0.6%….

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2024-10-01

Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’

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Business

Federal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller. The central bank chief asserted during a speech in Nashville, Tennessee, that he and his colleagues will seek to balance bringing…

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2024-09-13

$1 billion in cost cuts, 10 product launches planned

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Business

Moderna headquarters, exterior view, Cambridge, Massachusetts, USA.  Plexi Images | GHI | UCG | Universal Images Group | Getty Images Moderna on Thursday said it plans to cut around $1.1 billion in expenses by 2027 and win approvals for several new products as it charts a path forward after the rapid decline of its Covid business.  The biotech company said…

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2024-08-18

Tax cuts, housing incentives, more price caps

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Business

U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at an event at the Hendrick Center for Automotive Excellence in Raleigh, North Carolina, U.S., August 16, 2024.  Jonathan Drake | Reuters Vice President Kamala Harris on Friday delivered an economic policy pitch aimed to appeal to middle-class voters by focusing on lowering the costs of food, housing, health…

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