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Economy

Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch.

February 1, 2025

Sports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker “TWNP,” making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public. The IPO market has been tepid for several years, particularly for consumer companies. Soaring inflation, higher interest […]

Economy

UPS shares tank 15% after weak guidance, plan to slash Amazon deliveries by more than half

February 1, 2025

Shares of United Parcel Service plunged more than 15% Thursday after the company issued weak revenue guidance for the year and said it planned to cut deliveries for Amazon, its largest customer, by more than half. The shipping giant said in its fourth-quarter earnings report that it “reached an agreement in principle with its largest customer to lower its volume […]

Economy

Super Bowl ads beckon up to $8 million apiece for Fox

January 31, 2025

Fox Corp. is scoring big this Super Bowl. The broadcaster has sold out of ad spots for Super Bowl 59 on Feb. 9, and more than 10 of those commercials sold for $8 million apiece, according to a person familiar with the matter. Fox reported during its November earnings call with investors that it sold out of ad […]

Economy

Starbucks announces several changes, including plans to cut some menu items

January 31, 2025

Starbucks announced several changes, including its plan to cut some items from the food and drink menu. ‘We’ve taken steps to refocus the business, our mission and our marketing to better align with our identity as a coffee company,’ Starbucks chairman and CEO Brian Niccol said Tuesday. ‘We’re relying less on discounts to drive customer […]

Economy

White House freeze on federal aid won’t affect student loans, Education Department says

January 30, 2025

The Department of Education said Tuesday that the pause on federal grants and loans will not affect student loans or financial aid for college. The freeze, which could affect billions of dollars in aid, noted an exception for Social Security and Medicare. The pause “does not include assistance provided directly to individuals,” according to the White House memo […]

Economy

Over 3 million on Social Security may wait more than a year for higher payments

January 30, 2025

More than 3.2 million people will see increased Social Security benefits, under a new law. However, individuals who are affected may have to wait more than a year before they see the extra money that’s due to them from the Social Security Fairness Act, the Social Security Administration said in an update on its website. “Though SSA is helping […]

Economy

Restaurants are rebounding — but Starbucks and McDonald’s still have work to do

January 30, 2025

Starbucks is expected to report its quarterly earnings on Tuesday, kicking off several weeks of reports from restaurant companies as investors anticipate improving demand for dining out. A handful of restaurants released preliminary results earlier in January ahead of presentations at the annual ICR Conference in Orlando. For many, like Red Robin and Noodles & Company, their early report showed sales […]

Economy

Frontier Airlines proposes merging with fellow budget carrier Spirit — again

January 30, 2025

Frontier Airlines said Wednesday it has again proposed merging with struggling rival Spirit Airlines, which is in bankruptcy. Frontier and Spirit first announced a deal to merge in 2022, but a JetBlue Airways offer derailed that plan. JetBlue’s proposed acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November. Frontier said in a release that it has […]

Economy

Tesla investors want Elon Musk to answer questions about ‘salute,’ role in Trump White House

January 30, 2025

Tesla’s fourth-quarter earnings report lands just over a week after President Donald Trump began his second term in the White House, with Elon Musk right by his side. Now that the Tesla CEO is firmly planted in Washington, D.C., in a high-profile advisory role, shareholders in the electric vehicle maker have some questions. On the forum Tesla uses to solicit investor inquiries in […]

Economy

Amazon taps Whole Foods CEO to oversee grocery business

January 29, 2025

Amazon has tapped Whole Foods CEO Jason Buechel to oversee its sprawling grocery business, the company announced Monday. Doug Herrington, the company’s worldwide retail chief, wrote in a memo to employees posted to Amazon’s site that Buechel will “take on an expanded responsibility leading Worldwide Grocery Stores” while continuing to lead Whole Foods. Amazon acquired the upscale grocer for $13.7 […]

Economy

Starbucks shakes up its leadership again, adding two former Taco Bell executives

January 29, 2025

Starbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles. “As we focus on our ‘Back to Starbucks’ plan, we need a new operating model for our retail team, with clear ownership and accountability […]

Economy

DeepSeek hit with large-scale cyberattack, says it’s limiting registrations

January 28, 2025

DeepSeek on Monday said it would temporarily limit user registrations “due to large-scale malicious attacks” on its services, though existing users will be able to log in as usual. The Chinese artificial intelligence startup has generated a lot of buzz in recent weeks as a fast-growing rival to OpenAI’s ChatGPT, Google’s Gemini and other leading AI tools. […]

Economy

Nvidia loses nearly $600 billion in market value after Chinese AI startup bursts onto scene

January 28, 2025

Shares of chipmaker Nvidia plunged Monday, for its worst day since the global market sell-off in March 2020 triggered by the coronavirus pandemic. The plunge came amid a global tech stock sell-off over fears about America’s leadership in the AI sector. Those fears were largely sparked by advances claimed by a Chinese artificial intelligence startup. […]

Economy

Adidas to cut up to 500 jobs after posting better-than-expected holiday profits

January 27, 2025

Adidas plans to cut as many as 500 jobs in a bid to simplify its business, a person familiar with the matter confirmed to CNBC on Thursday. The layoffs will affect employees at Adidas’ headquarters in Herzogenaurach, Germany, and represent nearly 9% of the 5,800 staffers it employs at the location. The company has not determined […]

Economy

Government workers dismayed by Trump’s return-to-office mandate

January 27, 2025

When the Trump administration announced a return-to-office mandate this week, it stated Americans “deserve the highest-quality service from people who love our country.” Federal employees like Frank Paulsen say that comment suggests they aren’t hardworking or loyal. Paulsen, 50, is the vice president of the Local 1641 chapter of the National Federation of Federal Employees, […]

Browse category by Economy

Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch.

UPS shares tank 15% after weak guidance, plan to slash Amazon deliveries by more than half

Super Bowl ads beckon up to $8 million apiece for Fox

Starbucks announces several changes, including plans to cut some menu items

White House freeze on federal aid won’t affect student loans, Education Department says

Over 3 million on Social Security may wait more than a year for higher payments

Restaurants are rebounding — but Starbucks and McDonald’s still have work to do

Frontier Airlines proposes merging with fellow budget carrier Spirit — again

Tesla investors want Elon Musk to answer questions about ‘salute,’ role in Trump White House

Amazon taps Whole Foods CEO to oversee grocery business

Starbucks shakes up its leadership again, adding two former Taco Bell executives

DeepSeek hit with large-scale cyberattack, says it’s limiting registrations

Nvidia loses nearly $600 billion in market value after Chinese AI startup bursts onto scene

Adidas to cut up to 500 jobs after posting better-than-expected holiday profits

Government workers dismayed by Trump’s return-to-office mandate

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