Air taxi company Joby surges upward as it begins piloted test flights in Dubai

Last year, Joby Aviation signed an agreement granting it six years as the exclusive air taxi operator in Dubai, beginning at the start of its commercial operations.

Those operations, which Joby has planned to begin in 2026, are now closer to beginning. On Monday, the California-based company announced that it’s started performing piloted test flights in Dubai. It’s reportedly delivered its first production aircraft to the city.

Last November, Joby said it had begun construction on its first Dubai vertiport, essentially a small airport dedicated to electric vertical takeoff and landing aircraft.

Investors, bullish on the futuristic “flying car” tech, were clearly optimistic on Monday: Joby shares spiked more than 17%.

In the US, Joby and rival Archer Aviation are seen as benefactors from a recent executive order by President Trump aimed at speeding up air taxi adoption.

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Flying taxi Midnight on display at GITEX Global

Archer Aviation strikes deal to supply electric propulsion system to Anduril, bolstering its path to revenue

Archer Aviation announced its new agreement with Anduril after the market closed on Monday.

US CEO departures are at their highest level in decades

Walmart’s Doug McMillon is the latest to step down, as CEO turnover rises across Corporate America.

Max Knoblauch16h

Ford partners with Amazon to sell its used vehicles online

Beginning today, many Amazon shoppers can add a pre-owned Ford to cart.

The partnership, announced by the two companies on Monday, will begin in Los Angeles, Dallas, and Seattle, with plans to expand.

According to Ford, every vehicle sold through Amazon will have been “inspected, reconditioned, and comes with a Ford warranty, Ford Rewards points, and in some cases, a money-back guarantee.”

Shares of used car retailers Carvana and CarMax dipped in early trading on the news. Similar patterns occurred when Amazon Autos announced a partnership with Hyundai late last year, and another with rental giant Hertz in August.

You can now buy pre-owned Ford vehicles on Amazon

According to Ford, every vehicle sold through Amazon will have been “inspected, reconditioned, and comes with a Ford warranty, Ford Rewards points, and in some cases, a money-back guarantee.”

Claire Yubin Oh

cruisy

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The cruise industry is booming thanks to younger consumers looking to “seacation”

Operators are still managing to lure Gen Z and millennials with shorter, cheaper, and more action-packed trips.

Rani Molla11/14/25

Walmart falls after CEO of more than a decade steps down

Walmart’s stock fell as low as 3% this morning in premarket trading on news that its longtime CEO, Doug McMillon, who helped the company beef up its e-commerce segment against Amazon, will be stepping down.

While Walmart’s sales came in above expectations last quarter, it missed on quarterly earnings. It’s also facing an increasingly dominant Amazon, which is pushing further into Walmart’s territory with same-day grocery delivery in more than 1,000 cities and towns in the US, with plans to expand to 2,300 by the end of the year.

And unlike Walmart, Amazon, in addition to e-commerce and physical stores, has a number of other, much higher-income revenue streams — most notably its fast-growing cloud business, AWS. Earlier this year, Amazon nudged ahead of Walmart in overall revenue, and is expected to continue to build on that lead when Walmart reports Q3 earnings next week.

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