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High oil prices are hurting Emirates

Profits at Emirates have slumped to their lowest level in a decade as oil prices rise. The Dubai-based carrier spent $8.4 billion on fuel during the year to the end of March, a 25% increase from the previous year. It’s the biggest fuel bill in the company’s history. Fuel now accounts for 32% of the…MORE

PepsiCo offers to settle with Indian farmers it sued over potatoes for Lays chips

PepsiCo has offered to stop pursuing four small farmers in India it accuses of illegally growing a variety of potatoes registered for exclusive use in its Lays chips. The company’s Indian subsidiary filed lawsuits against the farmers earlier this month. They were heard by a court in the Indian state of Gujarat on Friday, when…MORE

Cooper Hefner’s new media venture is ‘Fifty Shades’ meets BuzzFeed

The late Hugh Hefner’s youngest son is getting ready to strike out on his own with the launch of his own media company. The 27-year-old Cooper Hefner recently announced that he’s taking on the world of digital media with Hefner Media Corporation — which will include a website called HefPost — capitalizing on a family…MORE

Southwest Airlines plans for a summer without the 737 Max

Southwest Airlines is prepping for a summer travel season without its Boeing 737 Max planes. The airline said Thursday that it was extending changes to its flight schedule to account for the grounded aircraft’s absence. Southwest last month modified its timetable up to June 7, but will now further tweak it through August 5. The…MORE

This Swedish company made oat milk cool in the US. Now it’s eyeing China

If you drink fancy coffee, chances are you’ve heard of Oatly. The Swedish oat milk brand’s popularity has exploded across the United States in recent years, as more and more people look for alternatives to traditional dairy products. US demand for the company’s products has far outstripped supply, prompting people to sell cartons of Oatly…MORE

Marvel spinoffs: Loki, Falcon and Scarlet Witch are coming to Disney+

Marvel Studios has created a blockbuster brand that’s made $18.5 billion at the global box office. Now Marvel’s universe of heroes is heading to Disney+. At Disney’s investor day on Thursday, Marvel Studios president Kevin Feige teased four new shows with characters from the Marvel Cinematic Universe that fans will only be able to see…MORE

Fred’s is closing nearly 30% of its stores

Discount chain Fred’s is looking for a new strategy. It’s first step is closing a lot of stores. The Memphis-based retailer will close 159 of its 557 stores, it said in a statement Thursday. The stores, which are spread across states including Texas, Arkansas, Alabama, Georgia, Louisiana, Mississippi, Kentucky, and Tennessee, were chosen because they…MORE

Boeing CEO says new software update has been tested by most 737 Max customers

A majority of customers who ordered 737 Max planes have now had a chance to test a fix for software that has been linked to two deadly crashes, Boeing CEO Dennis Muilenburg said. About two-thirds of the more than 50 customers from various airlines have been able to test the software patch using a flight…MORE

Wall Street taught oil drillers restraint. That could lift oil prices

The cries of “drill, baby, drill” in the American oil patch appear to have been silenced by frustrated shareholders on Wall Street. The days of all-in production by independent oil drillers seem to be over, for now at least. Unlike ExxonMobil and other supermajors that were late to the shale oil party, these smaller independents…MORE

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