Business
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Max Knoblauch

US airlines in a recession: Southwest CEO

Southwest Airlines CEO Bob Jordan doesn’t particularly care about technical economic definitions. According to him, the US airline industry is in a recession.

The airline said it expects its revenue per seat mile to fall by up to 4% in the second quarter.

“I don’t care if you call it a recession or not — in this industry that’s a recession,” Jordan said in an interview.

Southwest, which reported its earnings after the bell Wednesday and held its earnings call Thursday afternoon, pulled its guidance for full-year 2025 or 2026 adjusted earnings. The company flew 37 million passengers in the quarter, 9.2% fewer than the same period last year.

Rivals Delta Air Lines and American Airlines also pulled their 2025 guidance, while United Airlines opted to offer dual forecasts instead: one for a normal year and one for a recession.

Southwest CEO Says US Airline Industry Is Already in a Recession

Southwest CEO Says US Airline Industry Is Already in a Recession

“I don’t care if you call it a recession or not — in this industry that’s a recession,” Jordan said in an interview.

Southwest, which reported its earnings after the bell Wednesday and held its earnings call Thursday afternoon, pulled its guidance for full-year 2025 or 2026 adjusted earnings. The company flew 37 million passengers in the quarter, 9.2% fewer than the same period last year.

Rivals Delta Air Lines and American Airlines also pulled their 2025 guidance, while United Airlines opted to offer dual forecasts instead: one for a normal year and one for a recession.

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business
Max Knoblauch

Xbox CEO overhauls leadership team with Microsoft AI execs amid sales declines

Microsoft is continuing to shake up Xbox, with gaming chief Asha Sharma (who took over the division suddenly in February) announcing an executive overhaul.

According to an internal memo seen by CNBC, Sharma is bringing four leaders from her former CoreAI group into the Xbox fold, as they have “consumer and technical expertise [Xbox does] not yet have.”

“Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals,” Sharma said in the memo.

Aside from the CoreAI team, David Schloss, a former Instacart growth exec, will take over the subscription and cloud business.

Following Microsoft’s earnings report last week, in which Xbox console sales fell 33% from last year, Sharma said the division had work to do. The company forecast more sales declines for Game Pass and consoles in the current quarter.

Microsoft Xbox CEO overhauls leadership amid sinking sales: 'We need to evolve how we work'

Microsoft Xbox CEO overhauls leadership amid sinking sales: 'We need to evolve how we work'

“Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals,” Sharma said in the memo.

Aside from the CoreAI team, David Schloss, a former Instacart growth exec, will take over the subscription and cloud business.

Following Microsoft’s earnings report last week, in which Xbox console sales fell 33% from last year, Sharma said the division had work to do. The company forecast more sales declines for Game Pass and consoles in the current quarter.

business
Max Knoblauch

Ford’s April EV sales climb from March but make up less than 2% of its total sales this year

Ford sold 22% more EVs in April than in March, but the category makes up just 1.7% of the automaker’s total 2026 sales through April. At the same point last year, EVs were about 4% of sales.

The company released its April sales figures Monday morning, with EVs climbing sequentially but still down nearly 25% from last year. Its more popular hybrids were down 5% from March and about 33% from last year.

Overall, Ford posted a 14.4% drop in sales in April from last year. SUVs were down more than 16%, trucks fell more than 14%, and cars (the company doesn’t sell many) climbed 18%.

When it reported its Q1 earnings last week, Ford boosted its full-year guidance for adjusted earnings before interest and taxes to between $8.5 billion and $10.5 billion.

business
Rani Molla

Amazon opens up its supply chain to everyone

Today Amazon unveiled Supply Chain Services, a new business that turns the vast warehousing and logistics network behind its e-commerce empire into a product for other companies — an AWS-style move applied to the physical world.

As Amazon put it: “Any business can now move, store, and deliver everything from raw materials to finished products using the same supply chain that supports Amazon and its independent selling partners.”

That could make Amazon a behind-the-scenes operator for an even wider swath of commerce, expanding its reach beyond its marketplace and helping it capture more of the $1.3 trillion third-party logistics market.

Shares of traditional shipping companies UPS and FedEx fell after the announcement.

Amazon listed Procter & Gamble, 3M, and American Eagle among the logistics service’s first customers.

Introducing Amazon Supply Chain Services: Amazon’s logistics network, now open to every business

Introducing Amazon Supply Chain Services: Amazon’s logistics network, now open to every business

That could make Amazon a behind-the-scenes operator for an even wider swath of commerce, expanding its reach beyond its marketplace and helping it capture more of the $1.3 trillion third-party logistics market.

Shares of traditional shipping companies UPS and FedEx fell after the announcement.

Amazon listed Procter & Gamble, 3M, and American Eagle among the logistics service’s first customers.

Ford Announces Plans For New Electric-Vehicle Battery Plant

Ford’s leaving the door open for a Chinese automaker collaboration, says RBC

US lawmakers have raced to introduce legislation to lock in restrictions on cheaper Chinese vehicles and parts ahead of the Trump-Xi meeting in May.

Max Knoblauch4/30/26
Max Knoblauch
4/30/26
Xbox has “work to do” as console sales drop 33% in Q3

Microsoft said gaming revenue fell by $380 million in the quarter.

Xbox booth

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