business

Millie Giles1/8/25

Delta dumps Lyft for Uber

When it comes to choosing a ride-hailing partner, Delta Air Lines has decided to go XL.

Yesterday the airline announced that ride-sharing and food-delivery giant Uber will join its SkyMiles loyalty program this spring, thus ending the eight-year partnership that the company has had with smaller rival app Lyft, which is set to expire on April 7.

The new deal will give Delta SkyMiles members with linked Uber accounts one mile for UberX rides, two miles for premium rides, and three miles for prescheduled trips for every dollar spent on airport rides in the app — as well as giving Uber Eats customers extra miles for food-delivery orders, and improving pickup and drop-off at Delta airport hubs.

While Uber’s CEO cited the “record number of travelers taking to the skies” in its press release, the loyalty program switch-up looks like it will also expand Delta’s horizons. At the end of the third quarter, Lyft had ~24 million active riders; Uber, meanwhile, reported 161 million monthly active users over the same period, posting more than 2.8 billion rides.

This really is a case of Delta breaking up with David to go out with Goliath. As of Jan. 7, Uber’s market cap was $139 billion, more than 23x the valuation of Lyft.

Delta links its loyalty program to Uber, ending partnership with Lyft

Delta Uber Lyft CNBC Getty

The new deal will give Delta SkyMiles members with linked Uber accounts one mile for UberX rides, two miles for premium rides, and three miles for prescheduled trips for every dollar spent on airport rides in the app — as well as giving Uber Eats customers extra miles for food-delivery orders, and improving pickup and drop-off at Delta airport hubs.

While Uber’s CEO cited the “record number of travelers taking to the skies” in its press release, the loyalty program switch-up looks like it will also expand Delta’s horizons. At the end of the third quarter, Lyft had ~24 million active riders; Uber, meanwhile, reported 161 million monthly active users over the same period, posting more than 2.8 billion rides.

This really is a case of Delta breaking up with David to go out with Goliath. As of Jan. 7, Uber’s market cap was $139 billion, more than 23x the valuation of Lyft.

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Max Knoblauch12/4/25

Netflix is down amid reports it’s leading the Warner Bros. bidding war as Paramount cries foul

Netflix’s charm offensive appears to be working.

Netflix is reportedly emerging as the leader in the bidding war for Warner Bros. Discovery after second-round bids this week, edging out entertainment juggernaut rivals Comcast and Paramount Skydance.

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

Paramount questions Warner Bros. Discovery on 'fairness and adequacy' of sale process: Read the full letter

Paramount questions Warner Bros. Discovery on 'fairness and adequacy' of sale process: Read the full letter

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

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After three decades of pretty constant growth, the consultancy boom just hit an AI-shaped wall

Accenture has a new deal with OpenAI — did ChatGPT’s launch top-tick consulting employment?

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business

Max Knoblauch12/3/25

Delta says the government shutdown will cost it $200 million in Q4

The 43-day government shutdown that ended last month will result in a $200 million ding for Delta Air Lines, the airline said in a filing on Wednesday.

That’s about $100,000 per shutdown-related canceled flight. (Delta previously said it canceled more than 2,000 flights due to FAA flight reductions.) When the company reports its fourth-quarter earnings, the shutdown will lop off about $0.25 per share.

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

Delta Air Sees $200 Million Hit from Shutdown Fallout

Delta Air Sees $200 Million Hit from Shutdown Fallout

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

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