Amazon is aggressively moving to compete with SpaceX in satellite connectivity through its $11.6B acquisition of Globalstar. The deal is primarily about acquiring scarce and valuable spectrum, along with ground infrastructure and a major customer in Apple, to build out its own low-earth orbit (LEO) network.
The potential for a United-American Airlines merger signals a desire for consolidation amid pressures like high fuel costs. However, such a deal faces significant regulatory hurdles and opposition, despite a White House that may be open to "big deals."
Lucid Group's struggles with high-volume production and profitability, necessitating a new CEO and a $750M cash infusion, exemplify the challenges facing smaller EV players. The company is now pivoting from a premium-only focus to include a more mass-market vehicle, while the broader autonomous vehicle market remains in its infancy.
Q1 earnings for large US banks were largely positive, driven by market volatility. Citigroup's strong results and increased profitability targets signal a successful turnaround under new leadership, while Wells Fargo is leveraging the removal of its asset cap to pursue aggressive loan growth.
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