A customer enters a Nike store along the Magnificent Mile shopping district in Chicago on Dec. 21, 2022.Scott Olson | Getty ImagesNike on Thursday unveiled plans to cut costs by about $2 billion over the next three years as it lowered its sales outlook.The stock fell about 10% after hours....
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Generative AI has landed on Wall Street. Here’s how it can help propel ‘massive’ revenue growth
Yuichiro Chino | Moment | Getty ImagesLike it or not, generative artificial intelligence has arrived on Wall Street — and experts expect it to transform the way firms do business.To be clear, artificial intelligence, like natural language processing and machine learning, has been used by wealth management and asset management...
James Gorman talks Disney succession, proxy fight as he gears up to join board
Morgan Stanley CEO James Gorman said Thursday that he's gearing up to join a succession planning committee at Disney, which will advise the board on choosing CEO Bob Iger's successor.Gorman is set to step down as Morgan Stanley CEO Jan. 1. He will join Disney's board in February.Disney announced last...
Forget the in-flight food — these are best and worst airlines when flying goes wrong
Modern aircraft, comfortable seats and unflappably pleasant flight attendants.These are factors many rankings consider in determining the world's best airlines.But they overlook a crucial element, according to the passenger rights company AirHelp — how airlines treat customers when problems occur."We believe that an airline should be assessed not just by...
The weight loss drug boom isn’t over yet — here’s what to expect in the year ahead
George Frey | Bloomberg | Getty ImagesWeight loss drugs exploded into the public eye this year, and 2024 will bring more change to the evolving market. The drugs skyrocketed in popularity in 2023 as they helped patients shed significant weight, despite hefty price tags, mixed insurance coverage and a handful of...