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Top Business News Stories of the Day 1st March 2024


Here are some of the top business news highlights from today:

  1. FTC Sues to Block Kroger-Albertsons Merger: The Federal Trade Commission is seeking to prevent the largest supermarket merger in history, citing concerns about competition and potential price increases.
  2. Lowe’s Earnings Report: Despite surpassing earnings estimates, Lowe’s anticipates a decline in revenue for the current year.
  3. Intuitive Machines’ Moon Mission: Intuitive Machines’ spacecraft, Odysseus, has successfully transmitted images from the moon, marking a significant achievement for the company.
  4. Altice USA Acquisition: Shares of Altice USA jumped by 36% following reports of Charter contemplating an acquisition.
  5. United Airlines Bag Fee Increase: United Airlines has raised its checked bag fee by $5, following a similar move by American Airlines.
  6. Warner Bros. Discovery Misses Estimates: Warner Bros. Discovery fell short of estimates and cautioned about cash flow challenges in 2024.
  7. Carvana Stock Surge: Carvana’s stock experienced a surge after reporting its first annual profit and receiving analyst upgrades.
  8. Beyond Meat’s New Burger: Beyond Meat has launched a healthier version of its burger in a bid to attract more customers.
  9. Boeing’s Leadership Change: Boeing has replaced the head of its troubled 737 Max program amid ongoing challenges.
  10. Novavax Vaccine Dispute: Novavax is poised to resolve a dispute over a canceled Covid vaccine purchase agreement.
  11. Moderna’s Quarterly Profit: Moderna unexpectedly posted a profit despite a decline in Covid vaccine sales.
  12. Rivian and Lucid Stock Plunge: Shares of Rivian and Lucid declined after weak earnings reports in the electric vehicle sector.
  13. Existing Home Sales Rise: While existing home sales saw an uptick, higher mortgage rates are now negatively impacting the market.
  14. Capital One’s Acquisition Plans: Capital One’s proposed acquisition of Discover is under scrutiny, with no breakup fee if regulators block the deal.
  15. Tax Evasion Concerns: The IRS chief highlighted that tax evasion by the wealthiest Americans amounts to over $150 billion annually.
  16. New Sickle Cell Therapies: Advances in sickle cell gene therapies are considered groundbreaking, although affordability remains a challenge.
  17. Thrasio Bankruptcy Filing: Leading Amazon aggregator Thrasio recently filed for bankruptcy.
  18. FAA Deadline for Boeing: The FAA has given Boeing 90 days to develop a quality control plan amidst ongoing concerns.
  19. Starbucks Union Wages Increase: Starbucks has announced wage hikes for union workers as it improves its relationship with Workers United.
  20. House Republicans Subpoena Attorney General: House Republicans have issued a subpoena for classified documents related to President Biden’s administration.

These highlights encompass mergers, earnings reports, industry developments, and regulatory actions spanning various sectors like aviation, retail, technology, and healthcare.

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