Business

U.S. Treasury Secretary Janet Yellen, center, waits with others to receive Chinese President Xi Jinping at the San Francisco International Airport on Nov. 14, 2023, ahead of Xi’s meeting with U.S. President Joe Biden. Bloomberg | Bloomberg | Getty Images BEIJING — U.S. Treasury Secretary Janet Yellen was scheduled to arrive in China on Thursday

Levi Strauss, which has long relied on wholesalers like Macy’s and Kohl’s to drive its business, is now doing nearly half of its sales through its own website and stores, the company said Wednesday when reporting fiscal first quarter earnings.  In the three months ended Feb. 25, direct-to-consumer sales made up a record 48% of

Roughly half of adults are stressed about personal finance, a new survey spanning various advanced economies found. D3sign | Moment | Getty Images At least half of adults in a range of major economies report being stressed about their personal finances, and say inflation is one of the main reasons. A significant number also say

Bob Iger, CEO of The Walt Disney Company, speaks during the grand opening ceremony of Shanghai Disney Resort’s Zootopia-themed attraction at Shanghai Disney Resort on December 19, 2023 in Shanghai, China. Visual China Group | Getty Images Disney’s largest shareholder, index fund manager Vanguard, plans to support management over Nelson Peltz’s Trian Partners in Wednesday’s

Cleveland Federal Reserve President Loretta Mester said Tuesday she still expects interest rate cuts this year, but ruled out the next policy meeting in May. Mester also indicated that the long-run path is higher than policymakers had previously thought. Her fellow policymaker, San Francisco Fed President Mary Daly, also said Tuesday she expects cuts this

Harrison Ford returns as Indiana Jones in “Indiana Jones and the Dial of Destiny.” Disney Disney has struggled to return to the lofty box office records of 2019 — and that may have helped open the door for its recent troubles with activist Nelson Peltz. Just four years ago, the studio had seven billion-dollar films,

A Xiaomi SU7 electric sedan is seen displayed at a regional HQ of Xiaomi in Nanjing in east China’s Jiangsu province.  Future Publishing | Future Publishing | Getty Images BEIJING — Shares of Chinese smartphone maker Xiaomi surged 15% when the Hong Kong market opened Tuesday, the first trading day since the company launched its

Dana Walden, co-chair of Disney Entertainment Rich Polk | Getty Images In 1994, a captain of the media and entertainment industry saw something in Dana Walden that made him think she was capable of a bigger role. Thirty years later, that may happen again. That first time, the executive was Peter Chernin, then president of

The Federal Reserve may have new incentives in the second quarter to cut rates deeper this year. Canaccord Genuity’s Tony Dwyer thinks a deteriorating jobs market and easing inflation will ultimately push the Fed to act. “I’m not saying that they have to go back to zero, but they have to be more aggressive,” the

A BJ’s Wholesale Club is shown in Falls Church, Virginia, May 23, 2023. Win Mcnamee | Getty Images BJ’s Wholesale Club said Wednesday that it will open four clubs in the Southeast and one in the Midwest this year, as it tries to expand and attract members in other parts of the country in a

China’s President Xi Jinping speaks at the “Senior Chinese Leader Event” held by the National Committee on US-China Relations and the US-China Business Council on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 15, 2023.  Carlos Barria | Reuters BEIJING — U.S. business leaders met with Chinese President

Seven of the nation’s largest gaming companies are joining forces to create a trade group to promote responsible gaming, and for the first time ever, will share information about problem gamblers. The seven operators — FanDuel, DraftKings, BetMGM, Penn Entertainment, Fanatics Betting & Gaming, Hard Rock Digital and bet365 — will form the Responsible Online

Hedge fund manager Mark Yusko is predicting bitcoin will more than double this year to $150,000. “Get off zero,” the Morgan Creek Capital Management CEO and chief investment officer told CNBC’s “Fast Money” this week. Yusko thinks investors should have at least 1% to 3% allocated to bitcoin in their portfolios. “Bitcoin is the king.

Hyundai CEO Jae Hoon Chang (left) and José Muñoz, Hyundai president and global chief operating officer, attend the 2024 New York International Auto Show Michael Wayland | CNBC NEW YORK – Hyundai Motor is reevaluating its plans to exclusively produce all-electric vehicles at a new plant under construction in Georgia, an executive told CNBC on

Jakub Porzycki | Nurphoto | Getty Images Amazon is making its largest outside investment in its three-decade history as it looks to gain an edge in the artificial intelligence race.  The tech giant said it will spend another $2.75 billion backing Anthropic, a San Francisco-based startup that’s widely viewed as a front-runner in generative artificial

Home Depot on Thursday said it is acquiring SRS Distribution in an $18.25 billion deal, the latest and largest sign of its ambitions to drive sales by winning more business from contractors, roofers and other home professionals. The home improvement retailer expects the acquisition to close this fiscal year, which ends in late January. It

Huawei brought one of the largest displays to Mobile World Congress in Barcelona in February 2024. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings. The company also attributed the profit gains to revenue growth of