Izzy Schwab, the founder and chairman emeritus of D&H Distributing, has died at 90. Industry partners credit the ‘people-customer-first’ culture he built as the key to the company’s resilience and massive growth.
Peloton has laid off 11% of its global workforce in a bid to reduce costs. The cuts, confirmed by the company, are part of CEO Peter Stern’s ongoing efforts to steer the company back to growth.
In a significant de-escalation, China has sharply reduced its proposed tariffs on EU dairy products. The move comes as it concludes an anti-subsidy probe seen as direct retaliation for European tariffs on Chinese electric vehicles.
Solv Energy Inc. has filed for an IPO to raise over half a billion dollars. The firm, specializing in solar and battery storage, is riding a wave of demand from tech companies needing power for AI. Its backlog is a massive $6.7 billion.
European banks are sending mixed signals. Deutsche Bank met its 2025 goals and got a 1 billion euro buyback okay, but some analysts call its 2026 outlook “disappointing.” Meanwhile, 3i Group’s fate is tied to discount chain Action, which faces a tougher European market.
Liftoff Mobile, a mobile app marketing company, has announced its plans to go public. The IPO could raise up to $762 million and value the company at nearly $5.2 billion.
Apple just posted a massive $143.8 billion quarter, with iPhone revenue soaring 23%. The story, however, isn’t just about demand. Every analyst is now zeroed in on the same constraint holding Apple back.
Stellantis is the latest automaker to mandate a full return to office. The policy, which starts for directors in February and all US staff in March, marks a major reversal from last year’s hybrid guidance.
Elon Musk’s SpaceX is reportedly in talks for a potential merger with either Tesla or his AI startup, xAI, before a planned initial public offering. The IPO is targeting mid-June, coinciding with a celestial event near Musk’s birthday. This move could let Musk beat Sam Altman’s OpenAI to Wall Street
Michael Burry, the investor famous for “The Big Short,” posted on X that Elon Musk is a “desperately incentivized futurist.” He argues that the combined value of Tesla, SpaceX, and xAI is less than $1.6 trillion, despite their lofty market valuations.
