JetBlue Airways Corp. $JBLU has unveiled a revised cost-reduction strategy in response to underwhelming travel demand that continues to weigh on the airline’s recovery trajectory. CEO Joanna Geraghty acknowledged that the lower-than-expected bookings are likely to delay the company’s return to profitability, prompting a recalibration of JetBlue’s operational and capital expenditure plans.
U.S. manufacturing output showed minimal growth in May, signaling continued fragility in the industrial sector despite solid gains in motor vehicle and aircraft production. According to the latest report from the Federal Reserve, factory output rose by just 0.1% month-over-month, missing market expectations, as trade-related uncertainties and elevated input costs weighed on broader manufacturing performance.
Shares of Indian retail chain Vishal Mega Mart fell as much as 7.9% during early trading on Tuesday, June 17, following a large-scale block transaction involving nearly 20% of the company's equity. The deal, valued at approximately ₹10,488 crore, was executed at a steep discount to the previous closing price, pressuring the stock and signaling a significant shift in ownership structure. According to CNBC-TV18, around 91 crore shares, or 19.82% of the total equity, changed hands at ₹115 per share—considerably lower than the previous day’s closing price of ₹124.90. This valuation discount, coupled with the scale of the transaction, sparked investor uncertainty and a broad re-evaluation of near-term price targets.
Jio BlackRock Asset Management Pvt Ltd, a 50:50 collaboration between Jio Financial Services Ltd $JIOFIN.NS and U.S.-based BlackRock Inc. $BLK, has launched the Aladdin platform in India. This move follows the company’s recent approval from SEBI to operate as an asset manager. The rollout signifies a strategic alignment of local digital reach and global portfolio technology.
U.S.-based pharmaceutical major Eli Lilly and Co. $LLY has entered into a definitive agreement to acquire Verve Therapeutics Inc. $VERV, a clinical-stage biotech innovator focused on gene-editing therapies aimed at reducing low-density lipoprotein cholesterol (LDL-C), often labeled as “bad” cholesterol. The deal, valued at up to $1.3 billion, will see $1 billion paid upfront, with an additional $300 million contingent on clinical milestones. The acquisition underscores Eli Lilly’s intent to broaden its presence in the fast-growing cardiometabolic therapeutics sector, complementing its existing pipeline in diabetes, obesity, and cardiovascular health.
Global hedge funds have significantly increased their exposure to Asian equity markets, marking the sharpest rise in regional trading volumes in over five years, according to a recent note from Goldman Sachs $GS. Between June 6 and June 12, long positions across Japan, Hong Kong, Taiwan, and India surged to the highest levels since September 2024, highlighting a renewed appetite for risk despite macroeconomic uncertainty.
On the sidelines of the G7 Summit in Canada, U.S. President Donald Trump and UK Prime Minister Keir Starmer signed a limited trade agreement aimed at reducing specific tariffs between the two economies. The deal, which comes as both nations work toward a broader bilateral trade pact, notably removes U.S. import duties on British aerospace products and reaffirms existing tariff quotas on UK-made automobiles.
The Trump Organization, helmed by Donald Trump Jr. and Eric Trump, is expanding its commercial portfolio with the launch of a branded smartphone. The device, known as the T1, will be marketed as a “sleek, gold smartphone” and is priced at $499 USD. According to the announcement, it will be “proudly designed and built in the United States”, a positioning that reflects both political symbolism and a strategic attempt to differentiate it from market-dominating devices like Apple’s iPhone 16 Pro Max $AAPL, which retails for $1,199 USD and is primarily manufactured in China.
Global oil demand is set to continue growing until the end of this decade, driven by resilient consumption in the United States and a slower-than-expected shift to electric vehicles (EVs), according to the International Energy Agency (IEA). The agency reaffirmed that worldwide demand is projected to peak by 2029, although China, the world’s top oil importer, will likely reach its demand ceiling by 2027 due to faster EV adoption.
The Bank of Japan (BOJ) maintained its benchmark interest rate unchanged on Tuesday and announced a slower pace for reducing its massive balance sheet in 2025. This decision underscores the central bank’s cautious approach in unwinding its ultra-loose monetary policy, which has remained in place for over a decade.
The competition between American Express $AXP and JPMorgan Chase & Co. $JPM is intensifying as both institutions prepare significant updates to their flagship premium credit cards. JPMorgan announced it will revamp the Sapphire Reserve, a product that redefined the travel-rewards segment when it launched in 2016. In response, Amex confirmed that its Platinum consumer and business cards will undergo “substantial” changes later this year. This renewed escalation signals a broader strategic repositioning in the ultra-premium card segment, where brand prestige, experiential benefits, and high-yield customers define the competitive edge.
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