Business

A logo outside a Societe Generale SA office building in central Paris, France, on Monday, Feb. 5, 2024.  Bloomberg | Bloomberg | Getty Images A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a “scapegoat” and failing to take its share of responsibility for

Wayfair’s sales slid during its first quarter, but the online furniture retailer reduced its losses after cutting 13% of its workforce at the start of the year, the company announced Thursday.  Wayfair beat Wall Street’s expectations on the top and bottom lines and saw active customers grow nearly 3% compared with the year-ago period.  Here’s

U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., on March 20, 2024. Elizabeth Frantz | Reuters This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in March. Text removed

Peloton announced Thursday that CEO Barry McCarthy will be stepping down and the company will lay off 15% of its staff because it “simply had no other way to bring its spending in line with its revenue.” McCarthy, a former Spotify and Netflix executive, will become a strategic advisor to Peloton through the end of

WASHINGTON – The Federal Reserve on Wednesday held its ground on interest rates, again deciding not to cut as it continues a battle with inflation that has grown more difficult lately. In a widely expected move, the U.S. central bank kept its benchmark short-term borrowing rate in a targeted range between 5.25%-5.50%. The federal funds rate has

It’s finally here: the long-predicted consumer pullback. Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said it has adopted a “street-fighting mentality” to compete for value-minded diners. For months, economists have

The logo of the cryptocurrency Bitcoin (BTC) can be seen on a coin standing in front of a Bitcoin chart. Silas Stein | Picture Alliance | Getty Images Bitcoin slid to its lowest level since in more than two months to kick off May, as investors kept an eye on the Federal Reserve’s upcoming interest

A Starbucks coffee shop in Amsterdam. Nicolas Economou | Nurphoto | Getty Images Starbucks on Tuesday reported weaker-than-expected quarterly earnings and revenue, fueled by a surprise decline in same-store sales. The coffee chain also slashed its forecast for its fiscal 2024 earnings and revenue, predicting that its cafes would keep underperforming for several quarters. Shares

An Amazon worker walks past his Amazon Prime delivery truck in Washington, DC, on February 19, 2022. Stefani Reynolds | Afp | Getty Images Check out the companies making headlines in extended trading. Amazon — Shares gained nearly 2% after the company beat on both top and bottom lines. Amazon posted earnings of 98 cents

Walmart on Tuesday said it will close all of its health-care clinics across the country, a stunning reversal of its plans to bring its low-priced reputation to the dentist and doctor’s office along with the grocery aisle.  The big-box retailer said it would also shutter its telehealth provider, which it acquired for an undisclosed amount

The HSBC Holding logo is being displayed on a smartphone with HSBC visible in the background in this photo illustration taken in Brussels, Belgium, on February 20, 2024.  Jonathan Raa | Nurphoto | Getty Images HSBC beat market expectations in its first quarter earnings report on Tuesday, and announced the surprise departure of Group Chief

Bob Bakish, president and chief executive officer of Viacom, attends the fourth day of the annual Allen & Company Sun Valley Conference, July 11, 2023 in Sun Valley, Idaho.  David A. Grogan | CNBC Paramount Global CEO Bob Bakish is stepping down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish climbed

BEIJING — Local Chinese authorities have removed restrictions on Tesla cars after the company’s China-made vehicles passed the country’s data security requirements, the automaker said Sunday. The breakthrough came as Tesla CEO Elon Musk arrived in Beijing for an unexpected meeting with Chinese Premier Li Qiang, amid the first major auto show in the city

Starbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate. The two sides’ return to the bargaining table follows their February announcement that they found a “constructive path forward” during mediation discussions related to litigation over the union’s use of Starbucks’ branding. It marked a major pivot for

Nio Founder and CEO William Li poses outside of the New York Stock Exchange to celebrate his company’s IPO. Photo: NYSE BEIJING — Chinese electric car start-ups Nio and Xpeng are turning to a lower-priced segment of the market with plans to release newly branded cars this year. Nio’s first such mass market car will

A Starbucks worker boards the Starbucks union bus after Starbucks workers stood on the picket line with striking SAG-AFTRA and Writers Guild of America (WGA) members in solidarity outside Netflix studios on July 28, 2023 in Los Angeles, California.  Mario Tama | Getty Images Starbucks and Workers United, representing roughly 400 of its cafes, said

ARK Invest’s chief futurist lists five groups that should give tech investors an edge. According to Brett Winton, robotics, artificial intelligence, multi-omics sequencing, public blockchain and energy storage are key areas because they’re all entering the marketplace at the same time. “We believe that this is a unique time in technological economic history,” he told

Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023.  JanValls | Nurphoto | Getty Images American Airlines on Friday said Boeing’s 787 Dreamliner delivery delays are forcing it to cut some long-haul flights in the second half of the year and into early 2025, the latest