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Economy

Trump’s tariff threats send U.S. companies scrambling for lobbyists and loopholes

November 14, 2024

In the days since President-elect Donald Trump won the presidential race, Nicole Bivens Collinson’s phone has barely stopped ringing. Collinson, who helps lead the international trade and government relations division at the lobbying firm Sandler, Travis & Rosenberg, said she is fielding “dozens and dozens and dozens” of calls from anxious U.S. companies looking to protect themselves from […]

Economy

‘Trump trade’ returns for second week as bitcoin, Tesla, stocks surge

November 13, 2024

Cryptocurrencies and stocks, including Tesla, rallied Monday, picking up where they left off last week in the wake of the President-elect Donald Trump’s victory. The price of bitcoin hit an all-time high of more than $88,000, a rally that started shortly after Trump was declared the winner of the election. That’s up from $68,000 — […]

Economy

Mattel pulls thousands of ‘Wicked’ dolls off shelves after printing adult website on packaging

November 13, 2024

Thousands of Mattel’s “Wicked”-branded fashion dolls are flying off shelves, but not because of consumer demand. The toy company has been forced to pull its line of character dolls after a package misprint. Instead of listing the website for Universal’s “Wicked” movie, boxes featured a link to a pornographic website for a group called Wicked Pictures. “Mattel was made […]

Economy

Netflix ad-supported tier has 70 million monthly users two years after launch

November 13, 2024

Netflix’s cheaper, ad-supported tier has reached 70 million global monthly active users two years after it was launched. The company said Tuesday more than 50% of its new sign-ups are for ad-supported plans in countries that offer the option. Netflix said it continues “to see positive momentum and growth across all areas of the business,” adding it […]

Economy

Elon Musk is $70 billion richer since Trump victory due to Tesla stock surge

November 13, 2024

Elon Musk spent $44 billion to buy Twitter, now known as X, and at least $130 million to help get Donald Trump elected president. It’s a combination that’s paid off handsomely. Since Trump’s victory last week, Musk is about $70 billion richer on paper. Most of Musk’s wealth is wrapped up in his holdings of Tesla, and in the four trading days […]

Economy

Wall Street expects Trump presidency will unlock deal-making

November 9, 2024

Wall Street dealmakers and corporate leaders expect the flood gates to open on merger and acquisition activity after President-elect Donald Trump takes office in January. And he’ll likely have congressional help. Trump defeated Democratic candidate Vice President Kamala Harris, and Republicans claimed a majority of the Senate in elections this week. That red wave is expected to spell […]

Economy

Warner Bros. Discovery adds 7.2 million Max subscribers, the streamer’s largest single-quarter jump

November 9, 2024

Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for the streaming platform since its inception. Max now had 110.5 million subscribers as of Sept. 30. Warner Bros. Discovery’s flagship streaming service has been growing its subscriber base at a fast […]

Economy

Tesla, Bitcoin and Truth Social boom in election aftermath

November 8, 2024

The value of assets tied to Donald Trump — and those likely to benefit under his administration — surged in the wake of his decisive electoral victory on Tuesday. Leading the way was Trump Media and Technology Group, the company that owns the Truth Social media platform. Its stock closed up 6% in Wednesday trading. […]

Economy

Nvidia passes Apple as world’s most valuable company

November 8, 2024

Nvidia passed Apple in market cap on Tuesday becoming, for a second time, the most valuable publicly traded company in the world. Nvidia rose nearly 3% to close with a market cap of $3.43 trillion, ahead of Apple at $3.4 trillion. Nvidia shares have almost tripled in 2024, as investors show continued confidence in the company’s ability to […]

Economy

Amazon gets FAA approval for new delivery drone as it begins tests in Arizona

November 7, 2024

Amazon said Tuesday it received regulatory approval to begin flying a smaller, quieter version of its delivery drone, the latest step in its long-running efforts to get the futuristic program off the ground. The company unveiled the new drone, called the MK30, in November 2022. It said then that the MK30, in addition to the other changes, would […]

Economy

Home Depot co-founder Bernie Marcus dies

November 7, 2024

Bernie Marcus, the co-founder of Home Depot who became a billionaire philanthropist and GOP donor, has died at the age of 95. ‘The entire Home Depot family is deeply saddened by the death of our co-founder Bernie Marcus,’ the company said. ‘We owe an immeasurable debt of gratitude to Bernie. He was a master merchant […]

Economy

Yum Brands earnings miss estimates as KFC, Pizza Hut report same-store sales declines

November 7, 2024

Yum Brands on Tuesday reported quarterly earnings and revenue that missed Wall Street’s expectation as same-store sales at KFC and Pizza Hut slid more than expected. “The complex consumer environment that exists in many markets around the globe has contributed to pronounced regional sales variations, which has caused our system-sales growth to fall short of our long-term algorithm […]

Economy

Boeing strike ends after machinists approve new labor contract with 38% wage increases

November 6, 2024

Boeing machinists approved a new labor deal Monday, ending a more than seven-week strike that halted most of the aircraft production at the company that was already struggling with mounting losses. Machinists voted 59% in favor of the new contract, which includes 38% wage increases over four years and other improvements. The approval is a relief for […]

Economy

TGI Fridays operator files for Chapter 11 bankruptcy amid financial woes

November 5, 2024

TGI Fridays, an American casual dining chain, said on Saturday that it has filed for Chapter 11 bankruptcy protection after grappling with prolonged financial challenges and a collapsed deal with UK-based Hostmore. In a filing with the U.S. bankruptcy court for the Northern District of Texas, the company listed both assets and liabilities in the […]

Economy

Marc Benioff is in talks to sell Time to Antenna Group

November 3, 2024

The Greek media company Antenna Group is in talks to acquire Time from Salesforce co-founder Marc Benioff, according to people familiar with the matter. No deal is assured and the talks are still early, said the people, who asked not to be named because the discussions are private. “There is no agreement to sell Time,” […]

Browse category by Economy

Trump’s tariff threats send U.S. companies scrambling for lobbyists and loopholes

‘Trump trade’ returns for second week as bitcoin, Tesla, stocks surge

Mattel pulls thousands of ‘Wicked’ dolls off shelves after printing adult website on packaging

Netflix ad-supported tier has 70 million monthly users two years after launch

Elon Musk is $70 billion richer since Trump victory due to Tesla stock surge

Wall Street expects Trump presidency will unlock deal-making

Warner Bros. Discovery adds 7.2 million Max subscribers, the streamer’s largest single-quarter jump

Tesla, Bitcoin and Truth Social boom in election aftermath

Nvidia passes Apple as world’s most valuable company

Amazon gets FAA approval for new delivery drone as it begins tests in Arizona

Home Depot co-founder Bernie Marcus dies

Yum Brands earnings miss estimates as KFC, Pizza Hut report same-store sales declines

Boeing strike ends after machinists approve new labor contract with 38% wage increases

TGI Fridays operator files for Chapter 11 bankruptcy amid financial woes

Marc Benioff is in talks to sell Time to Antenna Group

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