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Economy

Southern California Edison acknowledges videos suggest link between equipment and Eaton fire

February 8, 2025

Southern California Edison acknowledged Thursday that videos have suggested a possible link between the utility’s equipment and the devastating Eaton Fire in Los Angeles. But the company has not identified evidence to confirm this, according to a filing with the California Public Utilities Commission. The Eaton Fire, which is now contained, burned about 14,000 acres, destroyed thousands […]

Economy

New Orleans prepares for Super Bowl 59, its biggest weekend of the year

February 8, 2025

New Orleans is preparing for an estimated 125,000 visitors and a presidential visit during the weekend of Super Bowl 59, as the reigning champion Kansas City Chiefs take on the Philadelphia Eagles at the Caesars Superdome. Local businesses are ready, and hotel demand is surging. Tripadvisor said demand for hotel rooms in New Orleans surged 637% […]

Economy

Even at $8M per Super Bowl commercial, ad executives say it’s still bang for your buck

February 8, 2025

Advertisers shelled out up to $8 million for a spot during Super Bowl 59. Ad industry executives still consider the price tag worth it, and argue it’s even a bang for their buck. The NFL’s championship game between the Philadelphia Eagles and Kansas City Chiefs will air this year on Fox Corp.’s broadcast network, as well as on Fox’s free […]

Economy

GM cuts 50% of Cruise staff after ending robotaxi business

February 6, 2025

General Motors is laying off roughly half of the employees who remain at its discontinued Cruise robotaxi business. The plans come two months after GM said it would no longer fund Cruise after spending more than $10 billion since acquiring the self-driving car business in 2016. “Today, Cruise shared the difficult decision to part ways with approximately 50% of […]

Economy

USPS resumes shipments from China in abrupt about-face

February 6, 2025

The U.S. Postal Service has agreed to resume accepting shipments from China, less than 12 hours after announcing it would stop doing so. ‘Effective February 5, 2025, the Postal Service will continue accepting all international inbound mail and packages from China and Hong Kong Posts,’ it said in an updated statement Wednesday morning. ‘The USPS […]

Economy

Disney tops quarterly profit estimates, but starts to lose Disney+ streaming subscribers

February 6, 2025

Disney posted fiscal first-quarter earnings Wednesday that beat on the top and bottom lines, but revealed the beginnings of expected streaming subscriber losses at Disney+. The company’s streaming business reported another quarter of profitability despite a 1% decline in subscribers for Disney+, the company’s flagship service. While domestic subscriptions for the platform increased around 1%, international […]

Economy

Boeing’s Starliner losses top $2 billion after spacecraft program reports worst year yet

February 6, 2025

Boeing has lost more than $2 billion and counting on its Starliner spacecraft after a rough year in which the capsule’s first astronaut flight turned into a headache for NASA. The Starliner program reported charges of $523 million for 2024 — its largest single-year loss to date — Boeing reported in a filing on Monday. The company […]

Economy

Mattel says Barbies and Hot Wheels could soon get more expensive under Trump’s tariffs

February 6, 2025

Mattel could soon raise the prices of toys such as Barbie and Hot Wheels in response to new tariffs imposed by President Donald Trump, executives said Tuesday. The toy giant, which manufactures about 40% of its toys in China and less than 10% in Mexico, told analysts it will look to move around its supply chain to mitigate the effect […]

Economy

Disney tops quarterly profit estimates but starts to lose Disney+ streaming subscribers

February 6, 2025

Economy

Millennials reimagine retirement: ‘The end game might not be … sitting on my Adirondack chair’

February 5, 2025

By many measures, millennials are doing considerably well financially. Still, fewer younger adults are thinking about retiring in the traditional sense one day. “Retirement is becoming more deprioritized,” said Michael Liersch, head of advice and planning at Wells Fargo. “Ten or 15 years ago that was always the number one goal,” he said. Now, “actually living one’s life in […]

Economy

Trump moves to develop sovereign wealth fund to ‘create value for American citizens’

February 5, 2025

President Donald Trump said Monday he would create a sovereign wealth fund, a pool of assets like those that exist in other countries that can help pay out regular funds to ordinary citizens. However, full details on how the fund would work were not immediately available. Trump made the announcement in an Oval Office ceremony. […]

Economy

Fox reveals plans to launch subscription streaming service this year

February 5, 2025

Fox Corp. is finally getting into the direct-to-consumer streaming game. The company known for its news and sports TV content said Tuesday it’s aiming to launch a subscription streaming service by the end of the year. The streaming service is not meant to upend Fox’s place in the traditional bundle, CEO Lachlan Murdoch said on […]

Economy

Ontario to remove U.S. alcohol from shelves after Trump’s tariffs announcement

February 4, 2025

Ontario will pull all American alcohol from its government-run liquor shelves beginning Tuesday in response to U.S. President Donald Trump’s 25% tariffs on Canadian imports. Outlets of the Liquor Control Board of Ontario will also take U.S. products out of its catalog so other retailers can’t order or restock those items, according to a Sunday statement by Premier Doug […]

Economy

Costco and Teamsters reach tentative contract agreement, avoid strike

February 3, 2025

Costco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a strike, the union said Saturday. Teamsters spokesman Matthew McQuaid confirmed the agreement, which will have to be approved by members. Details of the agreement weren’t immediately available. The Associated Press left a message seeking comment with Costco. The Teamsters […]

Economy

WNBA files trademark application to bring back ‘Detroit Shock’ as city submits expansion bid

February 2, 2025

As cities across the country vie for the next Women’s National Basketball Association team, the league quietly filed a trademark application this week for the name “Detroit Shock.” The filing, dated Thursday, notes the intended use is for a basketball team, merchandise, jerseys and in-arena signage that could appear on TV or radio broadcasts. It […]

Browse category by Economy

Southern California Edison acknowledges videos suggest link between equipment and Eaton fire

New Orleans prepares for Super Bowl 59, its biggest weekend of the year

Even at $8M per Super Bowl commercial, ad executives say it’s still bang for your buck

GM cuts 50% of Cruise staff after ending robotaxi business

USPS resumes shipments from China in abrupt about-face

Disney tops quarterly profit estimates, but starts to lose Disney+ streaming subscribers

Boeing’s Starliner losses top $2 billion after spacecraft program reports worst year yet

Mattel says Barbies and Hot Wheels could soon get more expensive under Trump’s tariffs

Disney tops quarterly profit estimates but starts to lose Disney+ streaming subscribers

Millennials reimagine retirement: ‘The end game might not be … sitting on my Adirondack chair’

Trump moves to develop sovereign wealth fund to ‘create value for American citizens’

Fox reveals plans to launch subscription streaming service this year

Ontario to remove U.S. alcohol from shelves after Trump’s tariffs announcement

Costco and Teamsters reach tentative contract agreement, avoid strike

WNBA files trademark application to bring back ‘Detroit Shock’ as city submits expansion bid

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