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Economy

Dick’s Sporting Goods to buy struggling Foot Locker for $2.4 billion

May 16, 2025

Dick’s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders struggle with uncertainty over President Donald Trump’s tariffs. Dick’s said Thursday that it expects to run Foot Locker as a standalone unit and keep the […]

Economy

Netflix says its ad tier now has 94 million monthly active users

May 16, 2025

Netflix said Wednesday its cheaper, ad-supported tier now has 94 million monthly active users — an increase of more than 20 million since its last public tally in November. The company and its peers have been increasingly leaning on advertising to boost the profitability of their streaming products. Netflix first introduced the ad-supported plan in November 2022. Netflix’s ad-supported plan […]

Economy

‘Shark Tank’ alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots

May 16, 2025

Bombas founder David Heath is stepping down from his role as CEO as the socks and apparel company looks to expand beyond its direct-to-consumer roots. Bombas President Jason LaRose, a former Under Armour and Equinox executive, will take over as the company’s next CEO effective Thursday. Heath said he realized it was necessary for a retail veteran […]

Economy

Reddit co-founder Alexis Ohanian takes minority stake in Chelsea FC women’s team

May 16, 2025

Reddit co-founder Alexis Ohanian has purchased a minority stake in Chelsea FC Women, giving him an ownership stake in two of the most-valuable teams in women’s sports. The founder of venture capital firm Seven Seven Six and husband of tennis legend Serena Williams paid 20 million pounds for a 10% stake in the English soccer team, […]

Economy

American Eagle shares plunge 17% after it withdraws guidance, writes off $75 million in inventory

May 15, 2025

American Eagle on Tuesday said it is writing off $75 million in spring and summer merchandise and withdrawing its full-year guidance as it contends with slow sales, steep discounting and an uncertain economy. The apparel retailer said it expects revenue in the first quarter, which ended in early May, to be around $1.1 billion, a decline […]

Economy

5 new Uber features you should know — including a way to avoid surge pricing

May 15, 2025

Uber is giving commuters new ways to travel and cut costs on frequent rides. The ride-hailing company on Wednesday announced a route share feature on its platform, prepaid ride passes and special deals week for Uber One members at its annual Go-Get showcase. Uber’s new features come as the company accelerates its leadership position in the […]

Economy

YouTube will stream NFL Week 1 game in Brazil for free

May 15, 2025

YouTube will stream the National Football League’s Week 1 game on Sept. 5 for free, the first time the dominant streaming platform has ever broadcast a live NFL game in its entirety. The game, which Front Office Sports first reported will be between the Kansas City Chiefs and the Los Angeles Chargers, will take place in Sao Paulo, […]

Economy

McDonald’s announces plan to hire 375,000 employees this summer

May 14, 2025

McDonald’s announced a plan to hire 375,000 employees across the U.S. this summer. The plan, announced on Monday, is one of the fast-food chain’s largest hiring pushes in years, according to a news release. It goes hand in hand with McDonald’s goal to open 900 new restaurants in the U.S. by 2027 and its plan […]

Economy

Father and son fraudsters sentenced in case of $100 million New Jersey deli

May 14, 2025

CAMDEN, N.J. — The father and son duo behind a stock fraud scheme involving the infamous $100 million New Jersey deli were sentenced to several months in prison Tuesday. Peter Coker Jr. was sentenced to 40 months. With credit for time served, he owes about 12 months locked up. But he could be released sooner […]

Economy

UnitedHealth CEO suddenly steps down for ‘personal reasons’

May 14, 2025

UnitedHealth Group announced a new chief executive Tuesday, a sudden and surprising change following the fatal shooting in December of its UnitedHealthcare subsidiary’s leader. Andrew Witty stepped down from leading UnitedHealth for unspecified “personal reasons,” the company said. Stephen J. Hemsley, who served as chief executive from 2006 to 2017, will return to the role and remain board […]

Economy

Microsoft to cut 3% of its workforce

May 14, 2025

Microsoft on Tuesday said that it’s laying off 3% of employees across all levels, teams and geographies. “We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace,” a Microsoft spokesperson said in a statement to CNBC. The company reported better-than-expected results, with $25.8 billion in quarterly net income, and […]

Economy

Fintech company Chime files for Nasdaq IPO

May 14, 2025

Financial technology company Chime on Tuesday filed paperwork to go public on the Nasdaq. The company intends to file under the ticker symbol “CHYM.” “Chime is a technology company, not a bank,” the company said in its prospectus, noting it’s not a member of the U.S. Federal Deposit Insurance Corp. Still, the company cited Bank of […]

Economy

Fox streaming service to be called Fox One, launch before NFL season

May 13, 2025

Fox Corp. will launch its direct-to-consumer streaming service, to be called Fox One, ahead of the National Football League season later this year. Fox CEO Lachlan Murdoch unveiled the name and timing of the company’s upcoming streamer during a quarterly earnings call Monday. The exact launch date and pricing will be announced in the coming months. […]

Economy

Walgreens doubles down on prescription-filling robots to cut costs, free up pharmacists amid turnaround

May 13, 2025

As struggling drugstore chains work to regain their footing, Walgreens is doubling down on automation. The company is expanding the number of retail stores served by its micro-fulfillment centers, which use robots to fill thousands of prescriptions for patients who take medications to manage or treat diabetes, high blood pressure and other conditions. Walgreens aims to free up time for […]

Economy

Fortnite applies to launch on Apple’s App Store after Epic Games court win

May 12, 2025

Epic Games said on Friday that it submitted Fortnite to Apple’s App Store, the month after a judge ruled in favor of the game maker in a contempt ruling. Fortnite was booted from iPhones and Apple’s App Store in 2020, after Epic Games updated its software to link out to the company’s website and avoid Apple’s commissions. The move drew Apple’s […]

Browse category by Economy

Dick’s Sporting Goods to buy struggling Foot Locker for $2.4 billion

Netflix says its ad tier now has 94 million monthly active users

‘Shark Tank’ alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots

Reddit co-founder Alexis Ohanian takes minority stake in Chelsea FC women’s team

American Eagle shares plunge 17% after it withdraws guidance, writes off $75 million in inventory

5 new Uber features you should know — including a way to avoid surge pricing

YouTube will stream NFL Week 1 game in Brazil for free

McDonald’s announces plan to hire 375,000 employees this summer

Father and son fraudsters sentenced in case of $100 million New Jersey deli

UnitedHealth CEO suddenly steps down for ‘personal reasons’

Microsoft to cut 3% of its workforce

Fintech company Chime files for Nasdaq IPO

Fox streaming service to be called Fox One, launch before NFL season

Walgreens doubles down on prescription-filling robots to cut costs, free up pharmacists amid turnaround

Fortnite applies to launch on Apple’s App Store after Epic Games court win

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