Apple's 'IntelliPhones,' a $90-million crash, tracking the Ozempic shortage: Business news roundup

Apple helped popularize smartphones. Now it’s going to push the world into the next era of telecommunications, this one characterized by a new type of device: AI-powered “IntelliPhones,” said senior Bank of America analyst Wamsi Mohan.

Read More

The Department of Defense is probably looking at Lockheed Martin’s refund policy after a brand-new F-35 fighter jet crashed on Tuesday afternoon. The recently built aircraft was being transferred from an assembly plant in Fort Worth, Texas to Edwards Air Force Base in California. The F-35B slammed into a hillside near Albuquerque International Sunport in New Mexico. 

Read More

As Novo Nordisk and Eli Lilly struggle to keep up with soaring demand for their popular diabetes and weight loss drugs, healthcare companies are introducing supply trackers to help patients navigate ongoing shortages.

Read More

While chipmaker Nvidia sees its stock rally to new highs this year, one of the four stocks it publicly owns is also feeling the rush.

SoundHound AI, an artificial intelligence-powered voice and conversation platform, has seen its shares rise almost on pace with the chipmaker this year. Nvidia’s shares were trading up 135% year-to-date Wednesday morning, while SoundHound’s shares were up 125% year-to-date. After the previous market close, both companies’ shares were up 136% year-to-date.

Read More

A deadly “turbulence event” aboard a Singapore Airlines flight last week was preceded by rapid changes in gravitational forces observed by the plane’s flight data recorder, the Singapore Ministry of Transport said in a report Wednesday. The incident, which happened on an older-model Boeing 777-300, injured 104 passengers and left one dead.

Read More

Even big box retailers are feeling the pinch of pesky inflation — and it’s pushing them into a pitched competition for bargain-hunting consumers.

Inflation has declined from its 2022 peak but remains elevated, delaying the Federal Reserve’s plans to cut interest rates. And the high cost of borrowing is adding to concerns that consumers still have about what, by almost all measures, is otherwise a strong economy.

Read More

American Airlines is trying to dig itself out of a hole, says its CEO Robert Isom.

As part of that action, the company fired chief commercial officer Vasu Raja this week. Bloomberg reports that the primary reason was a Bain report that confirmed what many in the industry had been whispering about: He had been alienating business-class travelers.

Read More

Cars just aren’t worth repairing anymore. One in every five cars seen by an insurance adjuster is estimated to cost too much to be repaired and returned to drivable condition. There are a ton of factors to look at here, but with high-tech lighting and sensors at the extremities of every car these days, increased use of exotic materials, and more expensive airbags than ever, it’s not hard to see where a lot of that money is going. This recent report from Bloomberg
breaks down how the modern car market is great for Copart, but not so good for consumers.

Read More

Mortgage rates ticked up again last week, putting a damper on refinancing and purchase applications

Back in April, the two parties said they had made “significant progress”