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Economy

American Express CFO says spending picked up at year-end, thanks to millennials and Gen Z

January 26, 2025

American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC. Spending on AmEx cards jumped 8% year over year in the fourth quarter after slowing from a 7% growth rate early in the year to 6% during the second and third quarters, according to the firm’s earnings presentation. While […]

Economy

Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

January 26, 2025

Universal is hoping the excitement around “Wicked” can hang around — for good. The movie studio faces a unique challenge: promote and release two build-on films just one year apart. Part one of the “Wicked” cinematic project dazzled at the box office, collecting more than $700 million in global ticket sales through Sunday. Not only did […]

Economy

Store closures hit highest level since pandemic — see who’s shutting down the most locations

January 25, 2025

Store closures in the U.S. last year hit the highest level since the pandemic — and even more locations are expected to shutter this year, as shoppers’ dollars increasingly go to a few industry winners, according to an analysis by Coresight Research. Major retailers, including Party City and Macy’s, closed 7,325 stores in 2024, according to the retail […]

Economy

UnitedHealthcare taps company veteran Tim Noel as new CEO following Brian Thompson killing

January 25, 2025

UnitedHealthcare on Thursday tapped company veteran Tim Noel as its new CEO following the targeted killing of its former top executive, Brian Thompson, in Manhattan in December. Noel was the head of Medicare and retirement at UnitedHealthcare, the largest private health insurer in the U.S. It is the insurance arm of UnitedHealth Group, the nation’s biggest health-care conglomerate […]

Economy

Elon Musk and Sam Altman spar over Trump’s Stargate AI investment announcement

January 25, 2025

A war of words between Elon Musk and Sam Altman escalated on social media Thursday, as two of the most powerful men in tech sparred over their rival artificial intelligence initiatives. The latest exchange began after OpenAI, where Altman is CEO, was revealed as a key player in Stargate, the AI infrastructure project President Donald Trump […]

Economy

Target rolls back DEI initiatives, the latest big company to retreat

January 25, 2025

Target on Friday said it’s rolling back diversity, equity and inclusion programs — including some that aim to make its workforce and merchandise better reflect its customers. In a memo sent to its employees, the Minneapolis-based retailer said it will end its three-year DEI goals, stop reports to external diversity-focused groups like the Human Rights Campaign’s […]

Economy

Retail crime ‘queenpin’ to pay millions in restitution to retailers for theft ring

January 24, 2025

The California mom who pleaded guilty to running an organized retail crime ring that stole millions of dollars in beauty products from Ulta Beauty and Sephora to resell on Amazon will now have to pay those retailers back as part of her sentence. Michelle Mack, who began her five-year prison sentence on Jan. 9 following her arrest outside of San Diego […]

Economy

OpenAI introduces Operator to automate tasks like vacation planning, restaurant reservations

January 24, 2025

OpenAI is taking its ChatGPT chatbot to the next level, adding a feature to automate tasks like planning vacations, filling out forms, making restaurant reservations and ordering groceries. The tool, announced on Thursday, is called Operator. OpenAI describes it as “an agent that can go to the web to perform tasks for you” and added […]

Economy

Goldman Sachs rolls out an AI assistant for its employees as artificial intelligence sweeps Wall Street

January 23, 2025

Goldman Sachs is rolling out a generative AI assistant to its bankers, traders and asset managers, the first stage in the evolution of a program that will eventually take on the traits of a seasoned Goldman employee, according to Chief Information Officer Marco Argenti. The bank has released a program called GS AI assistant to about 10,000 […]

Economy

Netflix shares soar as company reports surging revenue, tops 300 million subscribers

January 23, 2025

Shares of Netflix soared more than 13% Tuesday after the company posted fourth-quarter results that beat on the top and bottom lines. The company surpassed 300 million paid memberships during the quarter, adding a record 19 million subscribers. Netflix said the growth was driven by its content slate, improved product and typical fourth-quarter seasonality. The company also […]

Economy

With Trump digital coins, billions of dollars — and crypto’s credibility — are at stake

January 23, 2025

The creation of billions of dollars of digital wealth for the Trump Organization started with a social media post Friday. At 9:44 p.m. ET, the then-president-elect announced the creation of a new digital token: $TRUMP. “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” Donald Trump’s X account […]

Economy

JPMorgan Chase CEO Jamie Dimon on Trump tariffs: ‘Get over it’

January 23, 2025

JPMorgan Chase CEO Jamie Dimon said Wednesday that the looming tariffs that President Donald Trump is expected to slap on U.S. trading partners could be viewed positively. Despite fears that the duties could spark a global trade war and reignite inflation domestically, the head of the largest U.S. bank by assets said they could protect American interests and bring trading […]

Economy

Trump not expected to carry through on Day 1 tariff threats

January 22, 2025

President Donald Trump isn’t expected to carry through on his threat to impose sweeping tariffs on the first day of his presidency, a move that economists have warned could lead to higher prices for Americans and hurt U.S. businesses. Instead, Trump will direct federal agencies to examine different areas of trade policy and recommend actions, […]

Economy

Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

January 22, 2025

Bank of America CEO Brian Moynihan said Tuesday that the U.S. banking industry will embrace cryptocurrencies for payments if regulators allow it. The head of the second largest U.S. bank by assets was asked by CNBC’s Andrew Ross Sorkin about how the industry’s approach to crypto could change given President Donald Trump’s enthusiasm for digital currencies. “If the rules come in […]

Economy

‘Moana 2’ tops $1 billion, extending Disney’s box office domination

January 22, 2025

The Walt Disney Company’s box office domination continued over the holiday weekend. “Moana 2” topped $1 billion during the Martin Luther King Jr. Day weekend, becoming the studio’s third 2024 release to reach the coveted benchmark after Marvel Studios’ “Deadpool and Wolverine” and Pixar’s “Inside Out 2.” No other Hollywood studio had a film cross $1 […]

Browse category by Economy

American Express CFO says spending picked up at year-end, thanks to millennials and Gen Z

Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

Store closures hit highest level since pandemic — see who’s shutting down the most locations

UnitedHealthcare taps company veteran Tim Noel as new CEO following Brian Thompson killing

Elon Musk and Sam Altman spar over Trump’s Stargate AI investment announcement

Target rolls back DEI initiatives, the latest big company to retreat

Retail crime ‘queenpin’ to pay millions in restitution to retailers for theft ring

OpenAI introduces Operator to automate tasks like vacation planning, restaurant reservations

Goldman Sachs rolls out an AI assistant for its employees as artificial intelligence sweeps Wall Street

Netflix shares soar as company reports surging revenue, tops 300 million subscribers

With Trump digital coins, billions of dollars — and crypto’s credibility — are at stake

JPMorgan Chase CEO Jamie Dimon on Trump tariffs: ‘Get over it’

Trump not expected to carry through on Day 1 tariff threats

Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

‘Moana 2’ tops $1 billion, extending Disney’s box office domination

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