Despite achieving record revenues of £661.8 million, Manchester United reported losses of £113.2 million in its latest financial report. The club attributes the losses to increased spending on players, but assures compliance with financial rules. The club is undertaking restructuring efforts following a significant investment from Jim Ratcliffe.
Peloton Interactive Inc’s shares jumped nearly 10% in pre-market trading after the company reported a slight sales increase and reduced losses in its fourth-quarter earnings report. The company’s restructuring plan, which included workforce reductions, is starting to show positive results. However, the company’s outlook for the first quarter of FY25 remains cautious due to uncertainties surrounding subscriber growth.
Boeing has named former Rockwell Collins chief Robert “Kelly” Ortberg as its new CEO, effective August 8th. This comes as the aviation giant reported a significant second-quarter loss due to ongoing operational challenges. Ortberg’s appointment marks a shift for Boeing as it attempts to recover from safety and quality control issues that have plagued the company.
The referee who oversaw the recent FC Barcelona match has a curious statistic. Despite presiding over 9 games, the team has only emerged victorious twice, resulting in a record of 2 wins, 2 draws, and 5 losses. This negative record sets him apart from the other 16 referees in the First Division.
