Business and economics news covering markets, companies, trade, labor, macro trends, and financial developments worldwide.
PricewaterhouseCoopers issued a going concern warning for GoPro, citing doubts about its survival. The company ended 2025 with $49.7 million cash after a $93.5 million loss and expects to violate debt covenants with Wells Fargo and Farallon Capital, risking immediate repayment demands.
General Motors fell to No. 23 on the 2026 Fortune 500, losing its status as the highest-ranked female-led company. Elevance Health, led by CEO Gail Boudreaux, now holds that title at No. 18. A record 56 women lead Fortune 500 companies this year.
Saudi Arabia's non-oil private sector grew at the fastest rate in three months in May 2026, driven by stronger output and new orders, showing resilience amid the Iran war. The economy shrank 1.5% in Q1 due to declining oil activity, but non-oil sectors remain robust.
India's industrial output grew 4.9% in April 2026, up from 3.2% in March, according to the new IIP series with base year 2022-23. Manufacturing output rose 6.2%, while mining contracted 5.1%. The new series revised upward growth for recent years.
Several European junk-rated companies, including Burger King operator Restaurant Brands Europe and optometric care provider nexeye, are seeking to reduce margins on euro-denominated term loans by 25 to 50 basis points. Fertility firm Ivirma also aims to reprice its borrowings and add an extra €50 million term loan, capitalizing on favorable credit conditions.
This commentary analyzes the ongoing succession drama at Market Basket, focusing on the promotion of Michael Kettenbach Jr. to director of operations. It argues that this move signals the board's intention to groom Kettenbach as the next leader, amid the ongoing conflict between the board and former CEO Arthur T. Demoulas.