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Flying could become more expensive for some passengers if Spirit Airlines falls into bankruptcy protection. The company's stock tanked Wednesday after The Wall Street Journal reported Spirit was preparing to file for Chapter 11 within weeks following the breakdown of merger talks with Frontier Airlines. Frontier Airlines is based in Denver. "The domestic US air travel market does need some rationalization, and it is likely to start with Spirit Airlines," McNally said. AdvertisementThe airline's bankruptcy could be a warning that the era of budget airlines' power is coming to a close.
Persons: Guy, Raymond James, David Neeleman, Denver . Don Mammoser, Peter McNally, McNally Organizations: Airlines, Street Journal, Frontier, Spirit Airlines, Street, Frontier Airlines, American Airlines, JetBlue, Big Locations: Charlotte , North Carolina, Los Angeles, Denver .
Spirit Airlines is preparing to file for bankruptcy protection, The Wall Street Journal reported. AdvertisementFlying is likely to become more expensive for some passengers if Spirit Airlines falls into bankruptcy protection. The Journal reported in October that Spirit was weighing up bankruptcy. Frontier Airlines is based in Denver. "The domestic US air travel market does need some rationalization, and it is likely to start with Spirit Airlines," McNally said.
Persons: , Guy, Raymond James, Savanthi Syth, David Neeleman, Denver . Don Mammoser, Peter McNally, McNally Organizations: Airlines, Street Journal, Frontier, Service, Spirit Airlines, Street, Frontier Airlines, The, American Airlines, JetBlue, Equity, Big Locations: Charlotte, Los Angeles, Denver .
Cisco reports fourth straight quarter of declining revenue
  + stars: | 2024-11-13 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Cisco CEO Chuck Robbins speaks at The Wall Street Journal's Future of Everything Festival in New York on May 21, 2024. Cisco reported a fourth straight quarter of declining revenue even as results topped analysts' estimates. Net income fell to $2.71 billion, or 68 cents per share, from $3.64 billion, or 89 cents per share, in the same quarter a year ago. During the quarter, Cisco acquired security startups DeepFactor and Robust Intelligence. Analysts expected adjusted earnings for the year of $3.58 per share on $55.89 billion in revenue.
Persons: Chuck Robbins, Robbins, Scott Herren, Herren Organizations: Cisco, Everything, StreetAccount, Dell, White, Intelligence, Cisco Systems, Applied Materials, Disney Locations: New York
Judith Kent, Jamie Dimon's wife, hit the campaign trail for Kamala Harris on Sunday. Kent went door to door to speak to voters in Lansing, Michigan. AdvertisementJudith Kent, the wife of JPMorgan CEO Jamie Dimon, was out in Michigan canvassing voters for Vice President and Democratic presidential candidate Kamala Harris on Sunday. "I have a lot of respect for Jamie Dimon," Trump told the outlet. In addition to Kent, the Harris campaign has won the support of multiple powerful women in business and entertainment alike.
Persons: Judith Kent, Jamie Dimon's, Kamala Harris, Kent, Dimon hasn't, , Jamie Dimon, Dimon, Harris, Maggie Haberman, Walz, Andrew Restuccia, I'm, I've, Donald Trump, Trump, BI's Grace Eliza Goodwin, Taylor Swift, Melinda French Gates, Laurene Powell, Gates Organizations: Service, Democratic, New York Times, Democratic Party, Kent, Harris, Business, JPMorgan, Bloomberg, Bloomberg Businessweek, Truth, Democratic National Committee Locations: Lansing , Michigan, Michigan, Lansing, Maggie Haberman . Michigan, Kent
Amazon said revenue in its cloud unit increased 19% in third quarter, just missing analyst estimates. AWS leads the cloud infrastructure market over Google and Microsoft and is an important source of profit for Amazon. On Tuesday Alphabet said revenue from Google Cloud, which includes cloud applications as well as infrastructure, totaled $11.35 billion, up 35%. Microsoft said Wednesday that revenue from Azure and other cloud services grew 33%. Google Cloud reported an operating margin of 17%.
Persons: Matt Garman, Oracle, Garman, Databricks, Naveen Rao Organizations: Amazon Web Services, Tech, Amazon, Revenue, Google, Microsoft, AWS, CNBC, TechCrunch Locations: Laguna Beach , California
Is this because Twitter users want this? AdvertisementIs X, the service many of us still call Twitter, more likely to show users political posts from Republicans, or right-leaning accounts? But they both hover around two possibilities, which aren't mutually exclusive:AdvertisementTheory 1: Twitter is showing users what users want to see. And it's entirely plausible that some left-leaning users have left the platform during Musk's ownership, in part because he reinstated accounts from right-leaning users, including Trump himself. This is a notion that some current and former Twitter users believe, though there's no direct proof that it's the case.
Persons: Elon Musk, , Musk, Donald Trump's, I've, Twitter, Twitter they're, Kamala Harris, Harris, Trump, Platformer's Zoë Schiffer, he's, Ron DeSantis Organizations: Republican, The Washington Post, Street, Twitter, Trump, Service Locations: The, Florida
The Wall Street Journal reported that Elon Musk and Vladimir Putin have shared secret calls since 2022. A former DoD analyst said that a relationship like this could pose national security concerns. Because of his work with the federal government via SpaceX, Musk holds a security clearance that gives him access to some classified information. "The security clearance adjudication process looks at several factors, and undue foreign influence is just one of those factors," Stransky, now a partner at Thompson Hine law firm, said. The existence of an ongoing Musk-Putin relationship would be further complicated by the billionaire tech leader's recent foray into US politics.
Persons: Elon Musk, Vladimir Putin, , Bill Nelson, Musk, Putin, Nelson, Semafor, Adam Smith, aren't, Sen, Jeanne Shaheen, Smith, Shaheen, Dmitry Peskov, Steven Stransky, Thompson, Stansky, Robert English, Xi, Trump, he's, Tesla Organizations: Street Journal, Washington, Service, Democratic, SpaceX, Business, NASA, Department of Defense, House Armed Services Committee, Politico, Defense Department, New, New Hampshire Democrat, Senate Foreign Relations, Senate Armed Services Committee, DoD, National Reconnaissance Office, astronautics, Pentagon, Department of Homeland Security, National Security Council, Central, University of Southern, Trump Locations: New Hampshire, University of Southern California, Taiwan
Vladimir Putin asked Elon Musk to withhold Starlink from Taiwan as a favor to China, per The Wall Street Journal. Musk has been in regular contact with Putin since 2022, the Journal reported, citing officials. AdvertisementRussian leader Vladimir Putin once asked Elon Musk to withhold Starlink access from Taiwan as a favor to China's Xi Jinping, The Wall Street Journal reported. AdvertisementThe Journal reported that in late 2023, Musk received his first request from the Kremlin to refrain from activating Starlink over Taiwan. Musk, SpaceX, the Pentagon, and NASA also did not respond to similar comment requests.
Persons: Vladimir Putin, Elon Musk, Musk, Putin, , Xi, Defense Department —, Ian Bremmer, Per Bremmer, Dmitry Peskov, Peskov, Musk's, Donald Trump, Karoline Leavitt, there's, it's President Trump, Leavitt, Trump Organizations: Street, Service, Street Journal, SpaceX, Pentagon, NASA, The New York Times, Defense Department, Business, New York Times, Eurasia Group, Kremlin, Putin, Trump, it's, Republican Locations: Starlink, Taiwan, China, Moscow, Beijing, Europe, Russia, Russian, Washington, Ukraine, Crimea
Houthi rebels used Russian satellite tracking data to hit ships in the Red Sea, The Wall Street Journal reported. AdvertisementHouthi rebels in Yemen used satellite data provided by Russia to target and attack commercial ships in the Red Sea, The Wall Street Journal reported. One of the Journal's sources said that the satellite data was transferred to the Houthis via members of the Iranian Revolutionary Guard Corps embedded with the rebels in Yemen. AdvertisementThe Houthis have for months harassed commercial ships in the Red Sea with drones and missiles, for what they say is retaliation against Israel for its bombardment of Gaza. AdvertisementMeanwhile, the US military has rotated multiple aircraft carrier groups to fend off Houthi attacks in the Red Sea, last week striking several targets in Yemen with B-2 Spirit stealth bombers.
Persons: , Dmitry Peskov Organizations: Street Journal, Iran's Revolutionary Guard Corps, Service, Iranian Revolutionary Guard Corps, Reuters, Russian Foreign Ministry, Kremlin, Business, US Navy, Health, Israel, Drewry Locations: Red, Yemen, Russia, Israel, Iran, Moscow, Gaza
Emma Tucker became The Wall Street Journal's first-ever female editor-in-chief in 2023. So we're doing things to make our audiences engaged, rather than thinking about "this is how we do things." What's not useful to Wall Street Journal readers? I mean, the amount of time that people spend reading The Wall Street Journal has gone up. And the one thing I can say with absolute certainty is there is a place for Evan at The Wall Street Journal.
Persons: Emma Tucker, Joe Biden's, Evan Gershkovich, , Murdoch, Joe Biden, Weeks, Biden, Tucker, Joe, It's, Mike Johnson, Kevin McCarthy, I've, there's, You've, We've, We're, we've, you've, Evan Organizations: Service, Sunday Times, Washington, Wall Street, Street Locations: Joe Biden's, England, Russia
Perplexity CEO Aravind Srinivas addressed the lawsuits the company is facing from news publishers. At a WSJ conference appearance, Srinivas said Perplexity was previously in conversations with Dow Jones. "Let's talk about the elephant in the room," Aravind Srinivas, cofounder and CEO of Perplexity, opened his interview at Wall Street Journal's Tech Live conference. People are directly going to [The] New York Times, The Wall Street Journal," Srinivas said. So, for example, a user can ask Perplexity about a shoe company that has just gone public on Wall Street.
Persons: Aravind Srinivas, Srinivas, Perplexity, Dow Jones, , Rupert Murdoch's Dow Jones, Mark Penn, Deepa Seetharaman, Anthropic, Claude, It's, OpenAI Organizations: Service, Tech, New York Post, Journalism, New York Times, Street, Microsoft Locations: New York
Reddit CEO Steve Huffman said the company is working to find its place in the AI "arms race." The platform has become a power player in the race to train AI models. Huffman hinted at large companies that are taking advantage of Reddit's content. AdvertisementReddit CEO Steve Huffman said the platform's content is among the world's best training data for artificial intelligence — and an increasingly valuable commodity as the company aims to find its place in the AI "arms race." "We've invested a lot in the last couple of years in locking that down, but it is an arms race."
Persons: Steve Huffman, Huffman, , he's, Reddit, We've Organizations: Service, Tech, Google, Microsoft
Amazon Web Services CEO Matt Garman defended the company's return-to-office mandate for January. AdvertisementAmazon Web Services CEO Matt Garman reiterated on Monday night why the recently announced return-to-office mandate is right for the company. Amazon CEO Andy Jassy announced last month that most corporate employees would be required to return to the office five days a week starting in January. When BI reached out about Garman's comments last week, an Amazon spokesperson declined to comment but pointed to Jassy's RTO announcement in September. BI's Ashley Stewart viewed internal messages after the policy was announced, showing that some Amazon employees were unhappy with the change.
Persons: Matt Garman, Garman, , Andy Jassy, BI's Ashley Stewart Organizations: Amazon Web, Service, Web, Amazon, Business, BI
Netflix continues to seek out true-crime shows despite the legal risks. 3 on Netflix's most popular TV shows viewed of all time, as of September 29, with more than 1 billion hours viewed. AdvertisementNetflix faces lawsuits over true-crime showsWhile true-crime shows often have the potential to become low-budget hits, they can also involve legal risks and associated costs. Advertisement"I don't think it's going to stop them," said a second agent of the legal issues around some crime shows. Data from Parrot Analytics suggested viewer demand for true-crime documentaries — as opposed to scripted shows — on Netflix is far outweighed by supply.
Persons: , Lyle, Erik Menendez, Anna, Anna Sorokin, Anna Delvey, Peacock, Guy Bisson, Ampere, " Bisson, Dahmer, Ryan Murphy, Murphy, Laci Peterson, Richard Gadd, Anna Sorokin's, Rachel Williams, Shonda Rhimes, hasn't, Ed Gein Organizations: Netflix, Service, Ampere, Netflix's, New York, Analytics
People observe the scenery near Chinese national flags displayed for National Day celebrations on October 3, 2024 in Chongqing, China. National Day Golden Week is a holiday in China commemorates the founding of the People's Republic of China in 1949. U.S. broadband providers had their networks breached in a cyberattack tied to the Chinese government that targeted wiretap requests, the Wall Street Journal reported on Saturday. The cyber breach, carried out by the Chinese hacking group known as Salt Typhoon, poses serious national security risks, the WSJ reported. Read The Wall Street Journal's article here.
Organizations: Wall Street, WSJ Locations: Chongqing, China, People's Republic of China, Western, U.S
Spirit Airlines is considering filing for bankruptcy protection, The Wall Street Journal reported. Its struggles are indicative of the wider issues faced by budget airlines as labor and fuel costs rise. AdvertisementIn another sign of the problems faced by budget airlines, The Wall Street Journal reported that Spirit Airlines is considering filing for bankruptcy protection. The introduction of premium-seating options and axing routes is spelling the end of budget airlines as we've known them. Its pre-tax income fell 63% in the second quarter of 2024 compared with the same period last year.
Persons: , Ted Christie's, Neil Glynn, Glynn, Mario Tama, Elliott Organizations: Airlines, Street Journal, Service, Spirit Airlines, JetBlue, Control, Southwest Airlines, Getty, Frontier Airlines, Elliott Management
OpenAI's $6.6 billion funding raise attracted some big names across the industry. The $6.6 billion round gave OpenAI a $157 billion post-money valuation and minted it into one of the most valuable startups in the world. MicrosoftMicrosoft invested a little under $1 billion into OpenAI's latest funding round, according to The Wall Street Journal report. FidelityFidelity also participated in OpenAI's latest funding round. AdvertisementAltimeter Capital ManagementAltimeter Capital Management also contributed to OpenAI's latest funding round, according to reports.
Persons: , Sam Altman, OpenAI, Here's, Anderson Cooper, Josh Kushner, Instagram, Kushner, Altman, josh, SoftBank, Masayoshi Son, Son, Marco Bello, Wood, Morningstar, Bing, Jensen Huang, Sam Yeh, Elon Musk's, Brad Gerstner, Gerstner, Vinod Khosla, Vaughn Ridley, Khosla, MGX Organizations: Service, Allen & Company Sun Valley Conference, Getty, Capital, Business, VC, Wall Street, Reuters, Vision Fund, Venture, ARK Invest, ARK Venture Fund, SpaceX, Microsoft Microsoft, Wall, Rival Apple, Microsoft, Nvidia Nvidia, Nvidia, Tiger Global Management, Fidelity Fidelity, Elon, Elon Musk's xAI, Fidelity, Capital Management, . Khosla, Getty Khosla Ventures, Sun Microsystems, United Arab, Bloomberg Locations: OpenAI, Silicon Valley, OpenAI ., Tokyo, Saudi, ARK, AFP, IPOs, America, United Arab Emirates
A new WSJ report sheds light on the internal tensions at OpenAI amid CTO Mira Murati's exit. The report said execs worried the company could collapse when cofounder Ilya Sutskever left in May. AdvertisementQuestions are swirling about what exactly has been going on at OpenAI amid a string of high-profile executive departures including former CTO Mira Murati. AdvertisementIt also reveals that executives worried about a potential collapse after OpenAI cofounder Ilya Sutskever left in May, and their attempts to woo the AI researcher back before reconsidering the offer. However, the Journal's reporting offers some fresh details about Murati's involvement as CTO amid the crunch to ready and ship new products.
Persons: Mira Murati's, execs, Ilya Sutskever, , Mira Murati, Sam Altman, Murati's, Sutskever, Altman, hadn't, Jan Leike, Greg Brockman, Brockman, Murati, Sarah Friar Organizations: Service, Wall, Business, CNBC
A new WSJ report sheds light on the internal tensions at OpenAI amid CTO Mira Murati's exit. The report said execs worried the company could collapse when cofounder Ilya Sutskever left in May. AdvertisementQuestions are swirling about what exactly has been going on at OpenAI amid a string of high-profile executive departures including former CTO Mira Murati. AdvertisementIt also reveals that executives worried about a potential collapse after OpenAI cofounder Ilya Sutskever left in May, and their attempts to woo the AI researcher back before reconsidering the offer. However, the Journal's reporting offers some fresh details about Murati's involvement as CTO amid the crunch to ready and ship new products.
Persons: Mira Murati's, execs, Ilya Sutskever, , Mira Murati, Sam Altman, Murati's, Sutskever, Altman, hadn't, Jan Leike, Greg Brockman, Brockman, Murati, Sarah Friar Organizations: Service, Wall, Business, CNBC
OpenAI CTO Mira Murati announces she's leaving the company
  + stars: | 2024-09-25 | by ( Hayden Field | ) www.cnbc.com   time to read: +3 min
Mira Murati, chief technology officer of OpenAI, during an interview on "The Circuit with Emily Chang" in San Francisco on April 4, 2023. OpenAI Chief Technology Officer Mira Murati said Wednesday that she is leaving the company after six and a half years. Murati also wrote that she is "stepping away because I want to create the time and space to do my own exploration. Murati became a well-known name when OpenAI's board abruptly ousted CEO Sam Altman last November and Murati was named interim CEO. Days later, Altman was back at the company and Murati moved back to her former role as CTO.
Persons: Mira Murati, Emily Chang, There's, Ilya Sutskever, Jan Leike, John Schulman, Anthropic, Murati, OpenAI, Sam Altman, OpenAI's, Altman, Sutskever, Helen Toner, Tasha McCauley Organizations: OpenAI, Reuters, Microsoft, Tiger Global, Nvidia, Apple, Tech, Street Locations: San Francisco, OpenAI
Read previewOpenAI CEO Sam Altman is working on a new AI device startup with former Apple design chief Jony Ive and Laurene Powell Jobs, the widow of the late Apple founder Steve Jobs. Marc Newson, who cofounded LoveFrom with Ive, told The Times that they were still figuring out the product and its release date. Advertisement"I'm interested in this topic, I think it is possible," Altman told The Journal's tech columnist Joanna Stern at the event. Notably, Altman told Stern in October 2023 that he didn't think AI devices would eclipse smartphones. Related storiesFormer Apple employees Imran Chaudhri and Bethany Bongiorno cofounded their own AI startup, Humane in 2019 and launched their first product, the Ai Pin in November.
Persons: , Sam Altman, Jony, Laurene Powell Jobs, Steve Jobs, Brian Chesky, Altman, Airbnb, Emerson, Powell Jobs, Marc Newson, Joanna Stern, Stern, Imran Chaudhri, Bethany Bongiorno, Zoz Organizations: Service, Apple, The, The New York Times, The Times, Business, Apple Watch, Times, Bloomberg, Humane, Emerson, Business Insider Locations: OpenAI
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email50bps cut leaves room to 'apply the brakes' if necessary, says The Wall Street Journal's Greg IpGreg Ip, The Wall Street Journal’s chief economics commentator and deputy economics editor, joins ‘The Exchange’ to discuss how he would approach rate cuts, the state of the economy, and more.
Persons: Greg Ip Greg Ip
A SpaceX spokesperson did not respond to a request for comment sent during the weekend. AdvertisementIn an interview on Monday at the All-In Summit, Musk mocked the FAA for the time it has taken the agency to approve SpaceX launches. An FAA spokesperson did not respond to a request for comment sent during the weekend. Unfortunately for the FAA, Musk isn't doling out any points for trying. Murray defended his office against claims from SpaceX and Musk that the agency was needlessly delaying the launch of Starship.
Persons: , Elon, Musk, Steven Kulm, Daniel Murray, Murray, There's, Trump, Christian Grose, I'm, they're Organizations: Service, Federal Aviation Administration, SpaceX, Business, FAA, Elon, Biden Administration, New York Times, Transportation Office, Global Aerospace Summit, Bloomberg, Summit, Twitter, University of Southern Locations: DC, University of Southern California
Judge James Robart told Business Insider a bank that managed his wife's individual retirement account purchased Boeing stock in April 2023. He said as soon as he learned about it, he had the stocks sold; his financial disclosures said the shares were sold on two dates in May and June. Based on the prices that Boeing shares traded at on the days her IRA bought and sold the shares, at least one of the two sales was a money-loser, while the second could have been profitable. He and his family disposed of their Boeing shares more than a year before that decision. The amount of Boeing stock traded isn't much compared with Robart's total wealth.
Persons: , Judge James Robart, Robart, it's, Clarence Thomas, Sonia Sotomayor's, Zunum, Bill Hodes, Gabe Roth, Roth, Charles Schwab, hasn't Organizations: Service, Boeing, Business, BI, Supreme, Street Journal Locations: Seattle
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe Wall Street Journal reporter Evan Gershkovich, former US Marine Paul Whelan, and Radio Free Europe/Radio Liberty journalist Alsu Kumasheva touched down at Joint Base Andrews on Thursday night. The trio were greeted by President Joe Biden and Vice President Kamala Harris after being freed from detention in Russia as part of a massive multi-country prisoner swap, the largest exchange in post-Soviet history. Former US Marine Paul Whelan was the first to disembark, where he was greeted by President Joe Biden and Vice President Kamala Harris. Evan Gershkovich hugging his mother Ella Milman after speaking to President Joe Biden and Vice President Kamala Harris.
Persons: , Evan Gershkovich, Paul Whelan, Alsu Kumasheva, Joint Base Andrews, Joe Biden, Kamala Harris, Whelan, Whelan's, David, Whelan wasn't, Britney Griner, Paul, Former US Marine Paul Whelan, Andrew Harnik, Gershkovich, Ella Milman, Kurmasheva, Pavel Butorin, Bibi, Miriam, Kevin Mohatt Organizations: Service, Street, Radio Free, Radio Liberty, Joint Base, Business, Marine, CBS, Former US Marine, Getty, Reuters, Brooke Army Medical Center Locations: Radio Free Europe, Russia, American, San Antonio , Texas
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