Business

As Ulta Beauty says it expects a slowdown in retail’s most resilient category, an upstart says it is bucking the trend.  Oddity Tech, the newly public Israeli cosmetics platform that uses artificial intelligence to develop products, posted first-quarter results that blew past expectations and raised its full-year guidance.  Here is how the beauty retailer behind

Billionaire investor Stanley Druckenmiller revealed Tuesday that he has slashed his big bet in chipmaker Nvidia earlier this year, saying the swift artificial intelligence boom could be overdone in the short run. “We did cut that and a lot of other positions in late March. I just need a break. We’ve had a hell of a

The “Partners” statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida, photographed Saturday, June 3, 2023. Joe Burbank | Tribune News Service | Getty Images Disney reports its fiscal second-quarter earnings before the bell Tuesday, and analysts will be paying attention

Citigroup CEO Jane Fraser said Monday that consumer behavior has diverged as inflation for goods and services makes life harder for many Americans. Fraser, who leads one of the largest U.S. credit card issuers, said she is seeing a “K-shaped consumer.” That means the affluent continue to spend, while lower-income Americans have become more cautious

High-end fitness chain Equinox is launching one of the most expensive gym memberships in the world — a $40,000-per-year program aimed at improving overall health and longevity. Equinox is teaming up with lab-test startup Function Health to launch “Optimize by Equinox,” a personalized health program that includes everything from personal training and nutrition plans to

OMAHA, Neb. — Warren Buffett said that Berkshire Hathaway is looking into an investment in Canada. “We do not feel uncomfortable in any shape or form putting our money into Canada,” he told an arena full of investors Saturday. “In fact, we’re actually looking at one thing now.” The billionaire investor has placed bets in

Shari Redstone, chair of Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Tuesday, July 11, 2023. David A. Grogan | CNBC Skydance Media is prepared to walk away from its offer for Paramount Global unless it receives a firm commitment from controlling shareholder Shari Redstone, following the

OMAHA, Nebraska — Warren Buffett said Saturday his designated successor Greg Abel will have the final say on Berkshire Hathaway’s investing decisions when the Oracle of Omaha is no longer at the helm. “I would leave the capital allocation to Greg and he understands businesses extremely well,” Buffett told an arena full of shareholders at

Star Wars Lego models are seen at the Bricks & Figs museum in Krakow, Poland, on April 15, 2023. Anadolu | Anadolu | Getty Images If you are a Star Wars fan, Jens Kronvold Frederiksen may have crafted your childhood. A design director at the Denmark-based Lego company, he has spent the past 25 years creating

OMAHA, Neb. — Warren Buffett revealed that he dumped Berkshire Hathaway’s entire Paramount stake at a loss. “I was 100% responsible for the Paramount decision,” Buffett said at Berkshire’s annual shareholder meeting. “It was 100% my decision, and we’ve sold it all and we lost quite a bit of money.” Berkshire owned 63.3 million shares

Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. David A. Grogan | CNBC Berkshire Hathaway, led by legendary investor Warren Buffett, has been making a confidential wager on the financial industry since the third quarter of last year. The identity of the stock — or stocks — that

Squishmallows in the images of Warren Buffett and Charlie Munger display at the Berkshire Hathaway Annual Shareholder Meeting at Omaha, Nebraska, on May 3, 2024. Sarah Min | CNBC OMAHA, Neb. — Warren Buffett’s annual shopping event, the pregame to Berkshire Hathaway‘s annual meeting, is wowing shareholders flocking here this weekend. With over 20,000 square

The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain low, economists and the Federal Reserve are touting the importance of immigrant workers for overall future economic growth. Immigrant workers made up 18.6% of the workforce

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