Business
‘Sesame Street’ will be revamped as Max streaming deal set to expire
Sesame Street characters Bert and Ernie during the presentation of the NDR and Deutsche Post commemorative stamp of 'Sesamstrasse' on March 2, 2020 in Hamburg, Germany.Tristar Media | Getty Images Entertainment | Getty Images"Sesame Street" will soon have a new format...
Shein acquires Missguided from Britain’s Frasers Group
Clothes displayed at the Shein headquarters in Singapore on June 19, 2023.Ore Huiying | Bloomberg | Getty ImagesShein has bought British fast fashion brand Missguided from the Frasers Group as the company looks to expand its market share and global reach ahead of a...
GM, UAW reach tentative agreement to end labor strike
Members of the United Auto Workers, or UAW, Local 230 and their supporters walk the picket line in front of the Chrysler Corporate Parts Division in Ontario, California, on Sept. 26, 2023.Patrick T. Fallon | AFP | Getty ImagesDETROIT — The United Auto Workers and...
‘Five Nights at Freddy’s’ dominates Halloween box office
A scene from the film "Five Nights at Freddy's"Universal PicturesIf anything was going to topple Taylor Swift at the box office, it had to be a killer animatronic bear, right?"Five Nights at Freddy's," the new Universal-Blumhouse horror offering set in an abandoned...
Canadian auto union initiates national strike at Stellantis
Lana Payne celebrates on stage as Unifor, Canada's largest private-sector union, announce Payne as their new president to replace outgoing leader Jerry Dias in Toronto, Ontario, Canada, Aug. 10, 2022.Cole Burston | ReutersDETROIT — After reaching a tentative agreement...
Stellantis, union negotiators agree to terms of a deal
DETROIT —The United Auto Workers union and Stellantis have agreed to a tentative deal following roughly six weeks of targeted U.S. labor strikes, the union announced on Saturday.The agreement, which must still be approved by local union leaders and ratified by...
UAW-Ford deal includes $8.1B in investment, $5,000 ratification bonus
Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023.Matthew Hatcher | AFP | Getty ImagesDETROIT – Local United Auto Workers union leaders approved a tentative agreement Sunday with Ford Motor that...
McDonald’s (MCD) Q3 2023 earnings
A McDonald's restaurant is seen in Belmont, California, on April 3, 2023.Tayfun Coskun | Anadolu Agency | Getty ImagesMcDonald's is expected to report its third-quarter earnings before the bell Monday.Here's what Wall Street analysts surveyed by LSEG, formerly known...
Pharmacy staff from Walgreens, chains like CVS to walk out again
A sign advertises COVID-19 (coronavirus) vaccine shots at a Walgreens Pharmacy in Somerville, Massachusetts, August 14, 2023.Brian Snyder | ReutersSome pharmacy staff from Walgreens and other drugstore chains are planning to walk out next week in the latest pushback...
Coke and Pepsi earnings comparison as KO and PEP stocks fall
Coca-Cola Co. and Pepsi Co. soda machines stand in a shopping center parking lot in Jasper, Indiana.Luke Sharrett | Bloomberg | Getty ImagesCoca-Cola and PepsiCo's rivalry spans decades, but Coke usually comes out on top.This quarter was no different.The beverage...
Disney pulls Jonathan Majors movie amid assault case
Jonathan Majors, and his girlfriend, Meagan Good, flanked by his lawyer Priya Chaudhry (R), arrive to Manhattan Criminal court for his pre trial hearing on August 03, 2023 in New York City.Alexi Rosenfeld | Getty ImagesDisney on Friday said it was pulling troubled...
Abercrombie, ex-CEO sued over sex abuse, trafficking
Abercrombie and Fitch is in the midst of a major comeback, but the retailer is still being haunted by the alleged sins of former chief executive Mike Jeffries. The company was sued Friday for turning a blind eye to Jeffries' alleged misconduct, court records show....
Spirit suspends new pilot training after tough quarter, engine issue
A Spirit Airlines airplane taxis for takeoff at Denver International Airport in Denver on Feb. 7, 2022.Michael Ciaglo | Bloomberg | Getty ImagesSpirit Airlines will suspend training for new pilots next month "until further notice," according to a company memo, as it...
GM, UAW may be near labor deal after negotiating session
Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan September 29, 2023.Rebecca Cook | ReutersDETROIT — Contract negotiations between the United Auto Workers and General Motors are reconvening midday...
Ford F shares fall after Q3 earnings on EV costs, UAW
Ford Motor Company's electric F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Michigan on September 8, 2022. Jeff Kowalsky | AFP | Getty ImagesShares of Ford Motor traded sharply lower Friday after the company reported...
Jamie Dimon to sell 1 million shares of JPMorgan
Jamie Dimon, CEO of JPMorgan Chase speaking with CNBC's Leslie Picker in Bozeman, MT on Aug. 2nd, 2023.CNBCJPMorgan Chase CEO Jamie Dimon will begin to sell 1 million shares of the bank he runs next year, the company said Friday in a filing.The plan sparked concern...
What their work days look like
Signs offering COVID-19 vaccinations are seen outside of a CVS pharmacy in Washington, DC.Mandel Ngan | AFP | Getty ImagesMany pharmacy employees at some of the largest U.S. drugstore chains say they're reaching a breaking point. On top of verifying, filling and...
Supermarket bank branches closing at higher rates
Customers at a Safeway store in San Francisco.Getty ImagesAmerican banks have been shuttering branches located within supermarket chains at a rate seven times faster than other locations amid the industry's profit squeeze and customers' migration to digital...
How Innovation Refunds cashed in on the Employee Retention Credit
The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic.The government program, seemingly flush with cash, led to the emergence of an industry of its own, which focused on helping...
Shein to sell co-branded Forever 21 clothes online
Shoppers walks past advertisements on the opening day of fast fashion e-commerce giant Shein, which is hosting a brick-and-mortar pop up inside Forever 21 at the Ontario Mills Mall in Ontario Thursday, Oct. 19, 2023. Allen J. Schaben | Los Angeles Times | Getty...
Marlboro maker Altria (MO) earnings Q3 2023
Packs of Marlboro cigarettes are displayed at a smoke shop on April 28, 2023 in San Francisco, California. Justin Sullivan | Getty ImagesAltria Group, the parent company of Philip Morris USA and the nation's largest tobacco company, reported third-quarter results...
Ford will postpone about $12 billion in EV investment
Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker's Ford Rouge Electric Vehicle Center (REVC).Michael Wayland | CNBCFord Motor said Thursday that many customers in North America are no longer willing to pay a premium for an...
Retailers lobby Congress to pass Combating Organized Retail Crime Act
Representatives from more than 30 retailers joined a major industry lobbying group on Capitol Hill on Thursday, as they ramped up pressure to pass a law that backers say will curb retail theft.The National Retail Federation escalated its campaign to rally support for...
Chipotle Mexican Grill (CMG) Q3 2023 earnings
Food is served at a Chipotle restaurant on in Chicago, Illinois.Scott Olson | Getty ImagesChipotle Mexican Grill is expected to report its third-quarter earnings after the bell Thursday.Here's what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv,...
UPS Q3 earnings: Revenue outlook cut
A UPS driver pulls a cart with packages while making deliveries on June 12, 2023 in San Francisco, California. Justin Sullivan | Getty ImagesShares of the United Parcel Service slipped nearly 5% Thursday after the company reported a bigger-than-expected revenue...
Jonathan Majors’ assault case heads to trial
US actor Jonathan Majors leaves Manhattan Criminal Court on August 03, 2023.Fatih Aktas | Anadolu Agency | Getty ImagesMarvel Cinematic Universe actor Jonathan Majors will stand trial on assault charges next month after a New York judge Wednesday denied his motion to...
Ford Motor (F) earnings Q3 2023
2024 Ford F-150 RaptorFordDETROIT — Ford Motor is set to report its third-quarter earnings after the bell Thursday.Here's what Wall Street is expecting, according to average estimates compiled by LSEG, formerly known as Refinitiv.Adjusted earnings per share: 45...
Hasbro and Mattel stocks drop on poor holiday sales guidance
Game maker HasbroJustin Sullivan | Getty ImagesShares of Hasbro and Mattel sank on Thursday, as both toymakers suggested sales will slow in the fourth quarter.Hasbro's stock dropped more than 10% on Thursday, and Mattel slid more than 7%.The companies face challenges...
Life Time stock plummets as company spends more on premium fitness
A Life Time Group Holdings sign at the New York Stock Exchange on Oct. 7, 2021.Source: NYSELife Time Group shares plummeted 15% Wednesday after the company's third-quarter results revealed higher spending to boost the premium member experience.The cost of running its...
Rocket Lab to resume Electron launches after September failure
An Electron rocket launches the Baby Come Back mission from New Zealand on July 17, 2023.Rocket LabRocket Lab expects to resume launches of its Electron vehicle before the end of the year, the company announced Wednesday.The company is in the final stages of closing...
Comcast’s lack of broadband growth bothers investors
Comcast Xfinity cable television installation truck parked on a street in front of a suburban home, San Ramon, California, May 17, 2018. (Photo by Smith Collection/Gado/Getty Images)Smith Collection/Gado | Archive Photos | Getty ImagesComcast has tried to move...
Bristol Myers Squibb (BMY) Q3 earnings report 2023
Bristol Myers Squibb on Thursday reported quarterly adjusted earnings that topped expectations and posted revenue in line with estimates, even as sales of the company's popular blood cancer drug Revlimid plummeted due to generic competition. Bristol Myers, one of the...
Merck (MRK) Q3 earnings report 2023
Merck headquarters in Rahway, New Jersey, on Tuesday, April 18, 2023.Christopher Occhicone | Bloomberg | Getty ImagesMerck on Thursday reported third-quarter revenue and adjusted earnings that topped expectations on strong sales of its blockbuster cancer drug...
High credit card interest rates carry risks
A person walks past a Christmas lighting display in a window at Bulbs NYC lighting store near Union Square in New York City, Dec. 20, 2022.Alexi Rosenfeld | Getty ImagesShoppers are springing for holiday gifts and decorations, but bustling mall traffic, full shopping...
Pfizer combination Covid, flu vaccine shows positive trial data
CFOTO | Future Publishing | Getty ImagesPfizer on Thursday said its combination vaccine candidates targeting Covid and the flu will move to a final-stage trial in the coming months after showing positive initial results in an early to mid-stage study.That moves the...
Southwest Airlines (LUV) earnings Q3 2023
A Southwest Airlines passenger jet lands at Chicago Midway International Airport in Chicago, Illinois, on December 28, 2022.Kamil Krzaczynski | AFP | Getty ImagesSouthwest Airlines said Thursday it plans to slow its capacity growth next year, citing moderating travel...
Comcast CMSA Q3 earnings
A general view of the "SUPER NINTENDO WORLD" entrance at Universal Studios Hollywood on February 16, 2023 in Universal City, California.Rodin Eckenroth | Getty Images Entertainment | Getty ImagesComcast topped both revenue and profit estimates in the third quarter as...
Endeavor could go private as it explores strategic alternatives
Endeavor Group Holdings, the talent agency and sports company run by Ari Emanuel, said Wednesday it would explore strategic alternatives, which could mean a possible sale or potentially going private again after two and a half years on public markets.Indeed, soon...
Alzheimer’s drug Leqembi shows promise as injection
Eisai on Wednesday said an injectable version of the Alzheimer's drug Leqembi showed promising initial results in a clinical trial, potentially paving the way for a new and more convenient option for administering the antibody treatment. However, the injection did not...
Morgan Stanley says Ted Pick to succeed James Gorman as CEO
James Gorman, Morgan Stanley CEO, July 18, 2023.CNBCMorgan Stanley said Wednesday that Ted Pick will succeed James Gorman as CEO at the start of 2024.Pick, a Morgan Stanley veteran who rose through the ranks to lead the bank's Wall Street operations, will also join...
Mattel MAT Q3 earnings: Barbie sales surge
Guests shop during a visit to the Malibu Barbie Cafe pop-up in New York City on May 17, 2023.Brendan McDermid | ReutersCall it a Barbie boost.Mattel on Wednesday said Barbie sales jumped 16% in the third quarter, riding the wave of the blockbuster movie. The "Barbie"...
Ford, UAW reach tentative deal to end labor strikes
United Auto Workers President Shawn Fain (right) and UAW Secretary-Treasurer Margaret Mock (left) lead a march outside Stellantis' Ram 1500 plant in Sterling Heights, Michigan after the union called a strike at the plant on Oct. 23, 2023.Michael Wayland / CNBCDETROIT...
How it’s expanding global reach
Nikola Jokic, #15 of the Denver Nuggets, shoots the ball against Bones Hyland, #5, and Norman Powell, #24, of the Los Angeles Clippers during the second half of a preseason game at Crypto.com Arena in Los Angeles on October 19, 2023.Kevork Djansezian | Getty ImagesAs...
IMAX earnings Q3 2023: Oppenheimer drives profit
Christopher Nolan's 'Oppenheimer' movie billboard is seen in Katowice, Poland on July 20, 2023.Beata Zawrzel | Nurphoto | Getty ImagesIMAX on Wednesday posted third quarter earnings showing its second highest-grossing quarter ever at the global box office, led by...
GM, Honda scrap plans to co-develop ‘affordable’ sub-$30,000 EVs
The 2024 Honda Prologue is one of two EVs being made by General Motors for the Japanese automaker, utilizing its Ultium battery technologies.HondaDETROIT – General Motors and Honda Motor have canceled plans to jointly develop affordable electric vehicles as they face...
GSK RSV vaccine shows potential to protect adults 50 to 59
A vaccine from GlaxoSmithKline showed the potential to protect adults ages 50 to 59 from respiratory syncytial virus in a late-stage clinical trial, the company said Wednesday.The initial trial results suggest that GSK's shot, known as Arexvy, could help protect a...
JetBlue to offer Dublin, Edinburgh flights starting next year
JetBlue Airways aircraft are pictured at departure gates at John F. Kennedy International Airport in New York.Fred Prouser | ReutersJetBlue Airways plans to begin flights to Dublin and Edinburgh from the U.S. as part of the carrier's trans-Atlantic expansion.Tickets...
Boeing (BA) earnings Q3 2023
Boeing's new 737 MAX-9 is pictured under construction at their production facility in Renton, Washington, U.S., Feb. 13, 2017.Jason Redmond/ReutersBoeing said Wednesday it will deliver fewer 737 Max aircraft than it expected this year as it works through production...
Spotify (SPOT) earnings Q3 2023
Spotify shares closed 10% higher on Tuesday after the company reported a surprise profit for the third quarter — its first quarterly profit in a year and a half — as price increases and cost-cutting measures took hold.The company's stock has more than doubled so far...
Anheuser-Busch and UFC strike partnership amid Bud Light slump
Bud Light, made by Anheuser-Busch, sits on a store shelf in Miami on July 27, 2023.Joe Raedle | Getty ImagesAnheuser-Busch InBev's Bud Light will again become the official beer sponsor for the Ultimate Fighting Championship with a six-year marketing partnership, the...
Inaugural Vulcan rocket launch slated for Christmas Eve
United Launch Alliance plans to launch the inaugural flight of its Vulcan rocket on Christmas Eve, CEO Tory Bruno told CNBC's Morgan Brennan on Tuesday.Bruno, speaking at the CNBC Technology Executive Council Summit, said the target window for Vulcan's first launch...
Nikola NKLA Trevor Milton damages
Nikola's founder and former CEO, Trevor Milton, was found guilty on three counts of fraud in October of 2022.Massimo Pinca | ReutersShares of electric truck maker Nikola traded higher Tuesday afternoon after the company said in a regulatory filing that its disgraced...
Knicks sign jersey patch deal with owner James Dolan’s Sphere Entertainment
Sphere patch on a Knicks jersey.Source: MSG Sports | Sphere EntertainmentThe New York Knicks are keeping it in the family for their next jersey patch sponsor.Madison Square Garden Sports announced Tuesday that Sphere Entertainment will become the NBA team's official...
Why General Motors is reviving Chevrolet Bolt EV
General Motors CEO Mary Barra unveiled the Chevrolet Bolt electric vehicle during the 2016 Consumer Electronics Show in Las Vegas. Production of the current Bolt is set to end in December, but GM has said a revamped version is on the way.Patrick T. Fallon | Bloomberg...
UAW expands strike to crucial GM SUV plant in Texas
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan, on Sept. 29, 2023.Rebecca Cook | ReutersDETROIT – The United Auto Workers expanded its strikes against General Motors to a highly profitable full-size...
Frontier Airlines overhauls frequent flyer program
Frontier Airlines planes are parked at gates in Denver International Airport (DEN) in Denver, Colorado, on August 5, 2023.Daniel Slim | Afp | Getty ImagesEven for budget carriers, earning elite status is now all about how much you spend.Frontier Airlines on Tuesday...
McDonald’s tried to buy Panera Bread, 5 other reveals
Ron Shaich, founder and then-CEO of Panera Bread, in December 2017.Scott Mlyn | CNBCPanera Bread founder Ron Shaich uses his new book, "Know What Matters," to impart lessons learned from his decades in the restaurant business — and reveals some juicy details in the...
Panera Bread founder Ron Shaich new book criticizes IPOs
Panera Bread founder Ron Shaich led a public company for more than two decades, but that doesn't mean he's a fan of initial public offerings or Wall Street.More than six years after selling the chain for $7.5 billion, Shaich is looking back on his nearly four decades...
Coca-Cola (KO) Q3 2023 earnings
A Coca-Cola truck in New York City.Alexi Rosenfeld | Getty ImagesCoca-Cola is expected to report its third-quarter earnings before the bell Tuesday.Here's what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, are expecting:Earnings per share: 69...
General Motors (GM) earnings Q3 2023
The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021.Rebecca Cook | ReutersDETROIT — General Motors is set to report its third-quarter earnings before the bell Tuesday.Here's what Wall Street is expecting, according to...
Alaska Airlines flight diverts after ‘security threat’
Travelers wait to check-in at the Alaska Airlines counter at San Francisco International Airport (SFO) in San Francisco, California.David Paul Morris | Bloomberg | Getty ImagesAn Alaska Airlines flight operated by a subsidiary diverted to Portland International...
UAW expands strike to Stellantis pickup truck plant in Michigan
United Auto Workers President Shawn Fain greets workers at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023.Rebecca Cook | ReutersDETROIT – The United Auto Workers union is...
Netflix takes slow approach to video games
It's been nearly two years since Netflix first announced its foray into gaming. Yet, as Netflix has more than tripled its game library from 24 to 77 games in the last year, subscribers have largely shrugged their shoulders.This is all a part of the plan, though,...
Taylor Swift Eras Tour concert film second week box office
US singer Taylor Swift arrives for the "Taylor Swift: The Eras Tour" concert movie world premiere at AMC The Grove in Los Angeles, California on October 11, 2023. Valerie Macon | Afp | Getty ImagesTaylor Swift continues to beat records at the box office.The pop star's...
Paramount, Shari Redstone might have missed deal window
Shari Redstone, president of National Amusements and controlling shareholder of Paramount Global, walks to a morning session at the Allen & Company Sun Valley Conference in Sun Valley, Idaho, July 12, 2023.David A. Grogan | CNBCShari Redstone may have missed her...
GM and Ford report Q3 earnings as Wall Street and UAW watch
Jim Farley, CEO, Ford, left, and Mary Barra, CEO, General MotorsReuters; General MotorsDETROIT — Ready for a tightrope walk?General Motors and Ford Motor report third-quarter earnings and future guidance this week amid ongoing strikes and contract negotiations with...
Airport lounges are booming, and everyone wants in
Travelers are flocking to airport lounges in search of complimentary food, drinks and perhaps most importantly, a chance to relax away from the hordes of travelers at the gate. The problem: plenty of other travelers are too.Armed with high-end rewards credit cards and...
Housing market is painful, ugly, anxious with 8% high rate
Today's housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and it's scaring off buyers and sellers alike.Prices were already high, driven by supercharged demand during the height of the Covid-19...
Union’s Fain says ‘more to be won’ despite record offers
Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan September 29, 2023.Rebecca Cook | ReutersDETROIT – The United Auto Workers union believes there is "more to be won" in ongoing contract...
CVS to pull certain cold medicines from store shelves
Cold and flu medicine including NyQuil sit on a store shelf in Miami on Sept. 12, 2023.Joe Raedle | Getty ImagesCVS is removing some of the most common cough and cold medicines from its store shelves and will no longer sell them, a company spokesperson told CNBC on...
Las Vegas Sands (LVS) reports Q3 earnings and strong Asia growth
A woman rides her bicycle with the Marina Bay Sands hotel and high rise buildings in the background in Singapore on September 4, 2023.Roslan Rahman | AFP | Getty ImagesLas Vegas Sands' recovery from the pandemic is gaining steam, and Asia is a big reason why.The...
Disney highlights theme park revenue growth
Visitors can avoid lines at Disney World if they buy into the system.Joseph Prezioso | Anadolu Agency | Getty ImagesDisney's restructuring has triggered some changes in how the company shares its financial details, shedding light on just how strong its theme park...
Billionaires are driving South Florida home prices to new records
From Palm Beach to Miami Beach, luxury home prices in Florida's richest enclaves are reaching new records as billionaires and millionaires continue to buy up property.The average sale price of a home in Palm Beach topped $20 million in the third quarter, making it far...
TGL golf league announces ownership team led by Marc Lasry, Steph Curry
Andre Iguodala #9, Stephen Curry #30 and Klay Thompson #11 of the Golden State Warriors high five each other during the game against the Boston Celtics on March 8, 2017 at ORACLE Arena in Oakland, California.Noah Graham | National Basketball Association | Getty...
Philip Morris (PM) earnings Q3 2023
Philip Morris International Inc. Marlboro brand cigarettes are arranged for a photograph in Shelbyville, Kentucky, U.S., on Friday, Oct. 2, 2015.Luke Sharrett | Bloomberg | Getty ImagesPhilip Morris International on Thursday reported quarterly earnings that topped...
Sanofi to offer insulin for $35 to Americans through GoodRx
Sanofi Lantus brand insulin pens are arranged for a photograph in the Brooklyn borough of New York, U.S., on Friday, April 5, 2019.Alex Flynn | Bloomberg | Getty ImagesAmericans, regardless of their insurance status, can now access Sanofi's most widely prescribed...
Big banks cut thousands of jobs, more layoffs coming
Pedestrians walk along Wall Street near the New York Stock Exchange in New York.Michael Nagle | Bloomberg | Getty ImagesThe largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come.Even as the economy has...
September home sales drop to lowest level since the foreclosure crisis
A townhouse for sale in the Upper East Side neighborhood of NYC. Adam Jeffery | CNBCSales of previously owned homes dropped 2% in September from August to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association of Realtors....
Delta walks back some changes to Sky Club access, loyalty program
Delta's new SkyClub at John F. Kennedy International Airport in New York.Leslie Josephs/CNBCDelta Air Lines on Wednesday walked back some of the broad restrictions it placed on access to its popular airport lounges and trimmed thresholds to earn elite status after...
Costco CEO Craig Jelinek to step down. COO Ron Vachris will take over
A Costco Wholesale warehouse sign is seen outside a store in Silver Spring, Maryland, on Aug. 5, 2023.Mandel Ngan | Afp | Getty ImagesCostco's longtime CEO Craig Jelinek is stepping down from the company after the warehouse club's spree of pandemic- and...
Kohl’s holiday look offers glimpse into turnaround plan
At Kohl's stores, Chief Merchant Nick Jones said shoppers will see a mix of elevated items and sharp price points. For example, the company has signs that call attention to low prices of some sweaters, but is also has added European-made glassware to its home...
American Airlines (AAL) earnings Q3 2023
Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. JanValls | Nurphoto | Getty ImagesAmerican Airlines posted a third-quarter loss on Thursday and trimmed its profit forecast for the year,...
Fast fashion brand must clear hurdles before going public
Illustration by Elham AtaeiazarIt's no secret that Shein has ambitions to go public, but the fast-fashion juggernaut will have to overcome a slew of hurdles before it can win over Wall Street.The digitally native retailer skyrocketed to prominence during the Covid-19...
Netflix returns to growth mode
Greg Peters, Co-CEO of Netflix, speaks at a keynote on the future of entertainment at Mobile World Congress 2023.Joan Cros | Nurphoto | Getty ImagesNetflix is correcting the Great Netflix Correction.There once was a time, long ago in April 2022, when Netflix reported...
SpaceX, Blue Origin, Virgin Galactic call for FAA improvements
A SpaceX Falcon Heavy rocket with the Psyche spacecraft launches from NASA's Kennedy Space Center in Cape Canaveral, Florida, on October 13, 2023.Chandan Khanna | AFP | Getty ImagesWith the pace of rocket launches accelerating, and competition from China rising,...
Disney gives investors a look at ESPN financials
SportsCenter at ESPN Headquarters.The Washington Post | The Washington Post | Getty ImagesThe reorganization of Disney's business is giving investors a glimpse at ESPN's financials for the first time.The inside look – which shows ESPN's revenue has been decreasing in...
Netflix leans more into sports programming
Rafael Henrique | Lightrocket | Getty ImagesWhether it's streaming or traditional TV, sports keep audiences coming back to their screens — and Netflix is working on getting more into the game.Following some quarters of stagnation, Netflix is back to adding more...
Pfizer to price Covid drug Paxlovid at $1,390 per course
Paxlovid, Pfizer's antiviral medication to treat the coronavirus disease, is displayed in this picture taken on Oct. 7, 2022.Wolfgang Rattay | ReutersPfizer will price a five-day course of its Covid antiviral drug Paxlovid at $1,390 when the company starts to...
Rite Aid lost more than $1 billion before bankruptcy filing
A Rite Aid store in Kingston, New York, US, on Monday, May 15, 2023. Rite Aid Corp. is scheduled to release earnings figures on June 23. Angus Mordant | Bloomberg | Getty ImagesRite Aid lost more than $1 billion in the months before it filed for bankruptcy, the failed...
Netflix (NFLX) earnings Q3 2023
Thomas Trutschel | Photothek | Getty ImagesLOS ANGELES — Netflix is due to report third-quarter earnings after the closing bell Wednesday.The streaming company is still navigating its transformation from focusing on subscriber growth to focusing on profit, using price...
Trump Truth Social promotes Biden campaign account
U.S. President Joe Biden delivers remarks on the September jobs report at the White House on October 06, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesNot a joke, folks.Former President Donald Trump's social media company is promoting President Joe Biden's...
United Airlines to debut new boarding order
Passengers check in for United Airlines flights at O'Hare International Airport on December 13, 2022 in Chicago, Illinois.Scott Olson | Getty ImagesUnited Airlines will change its boarding order next week by letting economy-class passengers who have selected window...
30-year fixed mortgage rate just hit 8% for the first time since 2000
JB Reed | Bloomberg | Getty ImagesThe average rate on the popular 30-year fixed mortgage rate hit 8% Wednesday morning, according to Mortgage News Daily. That is the highest level since mid-2000.The milestone came as bond yields soar to levels not seen since 2007....
Architects report big drop in business
Construction workers erect a building in downtown Miami, Florida, on June 14, 2023. Jim Watson | AFP | Getty ImagesArchitecture firms reported a sharp drop in business in September, indicating that the commercial real estate market could see even more pain in the next...
Winnebago revenue shows weak discretionary spending
A Winnebago Industries Inc. travel trailer stands at Motor Sportsland RV dealership in Salt Lake City, Utah, U.S., on Monday, April 6, 2020.George Frey | Bloomberg | Getty ImagesWinnebago closed out its fiscal year with a solid fourth quarter earnings beat. Adjusted...
Mortgage demand falls to the lowest level since 1995 as interest rates near 8%
Signage is seen at The Collection at Morristown, a housing development by Lennar Corporation, in Morristown, New Jersey, November 13, 2021.Andrew Kelly | ReutersMortgage rates last week rose for the sixth straight week, causing demand for home loans to drop to the...
Walmart beefs up online marketplace in Amazon challenge
Walmart hosted its first seller summit for its third-party marketplace this summer. At the invitation-only event, CEO Doug McMillon made his pitch on why small businesses and brands should work with the retail giant.WalmartIt was summer in Las Vegas — the temperature...
Morgan Stanley (MS) earnings 3Q 2023
James Gorman, Morgan Stanley CEO, July 18, 2023.CNBCMorgan Stanley is set to report third-quarter earnings before the opening bell on Wednesday. Here's what Wall Street expects:Earnings: $1.28 a share, according to LSEG, formerly known as Refinitiv Revenue: $13.23...
Procter & Gamble (PG) Q1 2024 earnings
Tide laundry detergent is shown on display in Compton, California.Mike Blake | ReutersProcter & Gamble is expected to report its fiscal first-quarter earnings before the bell Wednesday.Here's what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv,...
United Airlines (UAL) 3Q 2023 earnings
A Boeing 787-10 Dreamliner, from United Airlines, taking off from Barcelona airport in Barcelona on March 28, 2023.JanValls | Nurphoto | Getty ImagesUnited Airlines said more expensive jet fuel and a halt to the carrier's Tel Aviv flights during the Israel-Hamas war...
Casino workers go on strike in Detroit
MGM Resorts International's MGM Grand Detroit hotel stands in Detroit, Michigan, Oct. 30, 2013.Bryan Mitchell | Bloomberg | Getty ImagesAuto workers aren't the only ones on strike in Detroit. Thousands of casino workers, seeking higher wages and better working...
Vans owner VF Corp shares jump after activist investor builds stake
A shopper passes in front of a North Face store at the Easton Town Center mall in Columbus, Ohio, on Jan. 7, 2021.Luke Sharrett | Bloomberg | Getty ImagesActivist investment firm Engaged Capital has taken a stake in VF Corporation, owner of Vans and The North Face...
GM to delay EV truck production at Michigan plant
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan.Steve Fecht for ChevroletDETROIT – General Motors said Tuesday it is delaying production...
Starboard CEO pushes News Corp to spin off real estate assets
Activist investment firm Starboard Value is pushing for change at News Corp. – in particular to see its real estate business separated from the rest of the company.Starboard CEO Jeffrey Smith told CNBC's David Faber on Tuesday that the firm is building a position in...
Tupperware replaces CEO, shares surge
Tupperware products are offered for sale at a retail store on April 10, 2023 in Chicago, Illinois.Scott Olson | Getty ImagesTupperware on Tuesday appointed Laurie Ann Goldman as its new CEO and shook up its board as the iconic brand tries to overcome its recent...
Homebuilder sentiment drops to 10-month low, as mortgage rates soar
A contractor works on a new home under construction in Tucson, Arizona, on Tuesday, Feb. 22, 2022.Rebecca Noble | Bloomberg | Getty ImagesBuilder confidence in the market for single-family homes dropped to the lowest level since January, as builders contend with a...
Lucid LCID Q3 2023 EV deliveries production
A Lucid showroom in New York City on Aug 19th, 2023.Adam Jeffery | CNBCLuxury electric vehicle maker Lucid Group said Tuesday that it delivered 1,457 of its Air sedans to customers in the third quarter, a number that is unlikely to reassure investors worried about...
StubHub sees 60% jump in ticket sales for NBA season
Anthony Davis, #3 of the Los Angeles Lakers, drives to the basket during the game against the Milwaukee Bucks at Crypto.com Arena in Los Angeles on Oct. 15, 2023.Adam Pantozzi | National Basketball Association | Getty ImagesWith the National Basketball Association...
Bank of America (BAC) earnings 3Q 2023
Brian Moynihan, CEO of Bank of AmericaHeidi Gutman | CNBCBank of America topped estimates for third-quarter profit on Tuesday on stronger-than-expected interest income.Here's what the company reported:Earnings per share: 90 cents vs. expected 82 cent estimate from...
Johnson & Johnson (JNJ) Q3 earnings report 2023
An entry sign to the Johnson & Johnson campus shows their logo in Irvine, California on August 28, 2019.Mark Ralston | AFP | Getty ImagesJohnson & Johnson on Tuesday reported adjusted earnings and revenue that topped Wall Street's expectations, driven by a...
Goldman Sachs (GS) earnings 3Q 2023
David Solomon, chief executive officer of Goldman Sachs Group Inc., at the Goldman Sachs Financial Services Conference in New York, Dec. 6, 2022.Michael Nagle | Bloomberg | Getty ImagesGoldman Sachs is scheduled to report third-quarter earnings before the opening bell...
Taylor Swift Eras Tour box office: Second best October open
Taylor Swift performs onstage during at Ford Field on June 9, 2023 in Detroit, Michigan.Scott Legato | TAS23 | GettyTaylor Swift and AMC have collected the receipts and results are in: the Eras Tour concert film is the second-highest domestic opener of October...
Absolut Vodka, Sprite canned cocktail coming next year
Absolut Vodka and Sprite.Coca-Cola is teaming up with Pernod Ricard to launch a new ready-to-drink and premixed cocktail beginning 2024, the companies announced Monday.The new cocktail will contain a mix of Absolut Vodka and Sprite, the companies said. The drink will...
Hollywood’s AI issues are far from settled after WGA deal
Members of the Writers Guild of America (WGA) East hold signs as they walk for the second day on the picket-line outside of Netflix's New York office on May 03, 2023 in New York City.Spencer Platt | Getty ImagesThe Writers Guild of America's labor deal with Hollywood...
Space investing Q3 report: Following government contracts
SpaceX's Crew Dragon capsule, named Freedom, is seen docked with the International Space Station in May 2023 during the Axiom Ax-2 mission.NASAInvestment in the space sector, especially from venture capital, is consistently flowing into companies that are pursuing and...
Bill Ford calls on union to make a deal
Bill Ford, Executive Chairman of Ford Motor Company, announces at a press conference that Ford will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in...
Taylor Swift Eras Tour concert film opening weekend box office
Taylor Swift performs onstage for the opening night of "Taylor Swift | The Eras Tour" at State Farm Stadium.Kevin Mazur | Getty Images Entertainment | Getty ImagesBox office analysts became Swifties in the lead-up to Taylor Swift's Eras Tour concert film release,...
Rite Aid files for bankruptcy amid slowing sales, opioid litigation
A Rite Aid store stands in Brooklyn on August 28, 2023 in New York City.Spencer Platt | Getty ImagesRite Aid filed for Chapter 11 bankruptcy protection in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt.The company said it...
How Snickers maker Mars prepares for Halloween and trick-or-treat
Snickers and Mars candy bars, produced by Mars Inc., sit on display.Bloomberg | Bloomberg | Getty ImagesFor 11 months of the year, Tim LeBel is Mars Wrigley's president of sales. But for the month of October, he dons a new title: chief Halloween officer.For decades,...
Pregnant Latinas face greater maternal health concerns
Zaza Cristina Robles worked as a pregnancy coach in her native Peru, so when she arrived in the U.S. at 16 weeks pregnant, the first thing she did after settling in with her in-laws was to seek medical care."When they showed us the bill, it was so expensive, my...
What to make of the latest escalation at Ford
United Auto Workers members strike the General Motors Lansing Delta Assembly Plant on September 29, 2023 in Lansing, Michigan. Bill Pugliano | Getty ImagesDETROIT – A shift in strategy by the United Auto Workers union this week has some analysts wondering if the...
Walgreens pharmacy staff could stage nationwide walkout
A woman walks near a Walgreens pharmacy on March 09, 2023 in New York City. Leonardo Munoz | Corbis News | Getty ImagesPharmacy staff from Walgreens are laying the groundwork for a nationwide walkout and multiple rallies at the end of October to protest unsatisfactory...
Taylor Swift Eras Tour box office Thursday preview ticket sales
Popcorn buckets are pictured during the "Taylor Swift: The Eras Tour" concert movie world premiere at AMC The Grove in Los Angeles, California on October 11, 2023.Valerie Macon | AFP | Getty ImagesTaylor Swift fans had just eight hours to buy tickets for last-minute...
New RSV shots for infants, Abrysvo and Beyfortus, face hurdles in U.S.
A doctor vaccinates an infant against respiratory syncytial virus (RSV) in a treatment room of her paediatric practice.Swen Pförtner | Picture Alliance | Getty ImagesTwo new immunizations promise to protect babies from respiratory syncytial virus – if people can find...
Novo Nordisk hikes outlook on soaring demand for Wegovy, Ozempic
An Ozempic injection pen is seen on a kitchen table in Riga, Latvia, on Aug. 6, 2023.Jaap Arriens | Nurphoto | Getty ImagesNovo Nordisk on Friday raised its outlook for its full-year sales and operating profit due to soaring demand for its blockbuster weight loss drug...
Wells Fargo WFC Q3 2023 earnings
A Wells Fargo customer uses the ATM at a branch in San Bruno, California, on Aug. 8, 2023.Justin Sullivan | Getty ImagesWells Fargo on Friday surpassed Wall Street expectations for third-quarter earnings and revenue as the benefit from higher interest rates offset...
Watch SpaceX Falcon Heavy launch NASA Psyche asteroid mission
[The livestream is slated to begin at 9:30 a.m. ET. Please refresh the page if you do not see the video player above.]SpaceX's powerful Falcon Heavy rocket is set to launch on Friday morning, flying a NASA mission bound for a distant asteroid.Targeting the asteroid...
Citigroup (C) Q3 earnings report
Citigroup reported its third-quarter results on Friday morning, with solid growth in both institutional clients and personal banking fueling higher-than-expected revenue.Here's what the company announced compared with what Wall Street was expecting, based on a survey...
Taylor Swift Eras Tour concert film could reach $150 million opening
U.S. singer-songwriter Taylor Swift performs during her The Eras Tour concert at SoFi Stadium in Inglewood, California, on Aug. 7, 2023.Michael Tran | Afp | Getty ImagesThe weekend box office (Taylor's Version).Taylor Swift has sold out stadiums worldwide and now...
JPMorgan Chase (JPM) earnings 3Q 2023
Jamie Dimon, chairman and CEO of JPMorgan Chase, at the U.S. Capitol for a lunch meeting with the New Democrat Coalition in Washington, D.C., June 6, 2023.Nathan Howard | Bloomberg | Getty ImagesJPMorgan Chase is scheduled to report third-quarter earnings before the...
Comcast, Disney hire Morgan Stanley, JPMorgan to value Hulu
Bob Iger, CEO, Disney, and Brian Roberts of ComcastGetty ImagesComcast and Disney have hired investment banks to value Hulu, the next step in what's been a nearly five-year process to put the streaming service under one owner.Comcast, which owns one-third of Hulu, has...
Bank earnings kick off after another period of rising rates, bad loans
Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. Marco Bello | ReutersAmerican banks are closing out another quarter in...
David Beckham says he supports Manchester United sale
Inter Miami co-owner and President David Beckham backs a takeover of his original club Manchester United."At the moment, there's no stability," the longtime former midfielder for the Premier League club told CNBC's "Squawk on the Street" in an interview aired...
Dollar General stock jumps after it brings back former CEO
The exterior of a Dollar General convenience store is seen in Austin, Texas, on March 16, 2023.Brandon Bell | Getty ImagesDollar General's former CEO Todd Vasos is coming out of retirement to helm the company, which aims to rebound from slowing growth and allegations...
Automaker ‘at the limit’ of what it can offer
Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023.Matthew Hatcher | AFP | Getty ImagesDETROIT – Ford Motor is "at the limit" of what it can offer the United Auto Workers union in terms of economic...
Maersk signs with SpaceX to add Starlink internet to over 330 ships
Maersk is one of the world's biggest container shippers.Andia | UIG via Getty ImagesDanish logistics giant Maersk is adding SpaceX's Starlink to more than 330 container ships, the companies announced Thursday.Maersk said the installation of the Starlink internet...
Incoming Walgreens CEO doesn’t mention pharmacy walkouts
Tim Wentworth, former CEO of Express Scripts.David A. Grogan | CNBCIncoming Walgreens CEO Tim Wentworth on Thursday briefly praised the company's pharmacy staff, but made no mention of the three-day protest walkouts they held this week over poor working conditions.The...
Hollywood, auto strikes dent Delta business travel
A Delta Airlines passenger jet approaches to land at LAX during the outbreak of the coronavirus disease (COVID-19) in Los Angeles, California, U.S., April 7, 2021.Mike Blake | ReutersRecent strikes by Hollywood talent and United Auto Workers union members are a "drag"...
SAG-AFTRA strike continues as talks break down
Members of the Writers Guild of America and the Screen Actors Guild walk a picket line on Day 1 outside NBC Universal in New York City on July 14, 2023. Timothy A. Clary | AFP | Getty ImagesForget about a Hollywood ending for actors and studios — for now.After just...
Joe Biden to meet with Target CEO Brian Cornell and business leaders
Brian Cornell, CEO, TargetScott Mlyn | CNBCTarget CEO Brian Cornell will meet with President Joe Biden on Thursday afternoon as the retailer — and the White House — try to figure out U.S. consumers.Cornell is one of about a half dozen business leaders across...
AMC CEO Adam Aron discloses online blackmail attempt last year
Adam Aron, Chairman of the Board and CEO, AMC Entertainment, listens during the Milken Institute Global Conference on October 18, 2021 in Beverly Hills, California.Patrick T. Fallon | AFP | Getty ImagesAMC CEO Adam Aron confirmed on Thursday he was the victim of a...
Viasat won’t replace damaged Americas satellite, improves financial targets
A long-exposure photo shows a trail left by SpaceX's Falcon Heavy rocket while launching the ViaSat-3 Americas satellite from Florida on April 30, 2023.ViasatViasat shares rose on Thursday after the company said it expects to meet financial growth targets earlier than...
UAW launches key strike against Ford’s Kentucky truck plant
United Auto Workers President Shawn Fain, middle, visits striking UAW Local 551 workers outside a Ford assembly center on South Burley Avenue on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty ImagesDETROIT — The United Auto Workers...
Walgreens (WBA) earnings Q4 2023
A man walks near a Walgreens pharmacy on March 09, 2023 in New York City. Leonardo Munoz | Corbis News | Getty ImagesWalgreens on Thursday offered soft profit guidance and reported fiscal fourth quarter earnings that fell short of expectations, as demand for Covid...
Delta Air Lines (DAL) Q3 2023 earnings
An Airbus A330-323 aircraft, operated by Delta Air Lines.Benoit Tessier | ReutersDelta Air Lines' profit rose nearly 60% in the third quarter as strong travel demand continued through the summer, particularly for international trips, though the carrier forecast...
Chipotle plans price increases after pausing hikes this year
Customers order from a Chipotle restaurant at the King of Prussia Mall in King of Prussia, Pennsylvania.Mark Makela | ReutersChipotle Mexican Grill is planning to raise prices again."For the first time in over a year, we will be taking a modest price increase to...
Goldman Sachs warns of hit to third-quarter earnings on deal to offload GreenSky
David Solomon, chief executive officer of Goldman Sachs Group Inc., during a Bloomberg Television at the Goldman Sachs Financial Services Conference in New York, US, on Tuesday, Dec. 6, 2022. Michael Nagle | Bloomberg | Getty ImagesGoldman Sachs said Wednesday that it...
(BIRK) starts trading on the NYSE
A Birkenstock banner hangs outside the New York Stock Exchange (NYSE) in New York on October 11, 2023, as Birkenstock launches an Initial Public Offering (IPO). Angela Weiss | Afp | Getty ImagesShares of Birkenstock slid about 10% in their debut on the New York Stock...
Zions, Comerica at risk of being booted from S&P 500
A customer enters Comerica Inc. Bank headquarters in Dallas, Texas.Cooper Neill | Bloomberg | Getty ImagesThe stock selloff that hit regional banks this year has exposed lenders including Zions and Comerica to the risk of being delisted from the Standard & Poor's...
Period care brands August, Rael and others unite to fight ‘tampon tax’
Starting Wednesday, consumers paying state sales tax on menstrual products will be able to get those costs on some period care purchases reimbursed.The Tampon Tax Back Coalition — an initiative of period care brands August, Cora, LOLA, The Honey Pot, Rael, Here We...
ChargePoint raising $232 million, shares fall
A ChargePoint electric vehicle charging station at Walnut Creek City Hall parking lot, Walnut Creek, California, April 18, 2023.Smith Collection/gado | Archive Photos | Getty ImagesShares of EV charging network operator ChargePoint Holdings were trading lower on...
Disney World and Disneyland raise prices for most tickets
People walk toward an entrance to Disneyland on April 24, 2023 in Anaheim, California.Mario Tama | Getty ImagesIt's about to get a bit more expensive to experience the magic of Walt Disney World and Disneyland.Ticket prices nearly across the board are increasing,...
Stellantis, Samsung SDI to build EV battery plant in Indiana
PONTIAC, MI - AUGUST 17: The Dodge Charger Daytona SRT Concept all-electric muscle car is shown at its world reveal during Dodge's Speed Week at M1 Concourse on August 17, 2022 in Pontiac, Michigan. A production electric vehicle from Dodge, a Stellantis N.V. brand, is...
Adjustable-rate mortgage demand spiked last week. Here’s why.
A house for sale in Arlington, Virginia, in July of 2023.Saul Loeb | AFP | Getty ImagesThe average rate on the 30-year fixed mortgage rose to the highest level since 2000 last week, but rates on adjustable-rate mortgages fell. That caused a run on these so-called...
Walgreens names veteran health-care executive Tim Wentworth as next CEO
Tim Wentworth, former CEO of Express Scripts.Getty ImagesWalgreens Boots Alliance has chosen veteran health care executive Tim Wentworth as the company's new chief executive.Wentworth is the former CEO of the nation's largest pharmacy benefits management company,...
Birkenstock prices IPO at $46 per share
Birkenstock models stand in a retail store of the shoe manufacturer. The company plans to go public in New York. Sebastian Christoph Gollnow | Picture Alliance | Getty ImagesBirkenstock, the longtime German shoe brand known for its comfy and durable styles, priced its...
GM, Canadian autoworkers union Unifor reach deal to end strike
Unifor worker Rob Nimigon holds a flag at a picket line outside an entrance to the GM's Oshawa assembly complex, where the company’s profitable Chevrolet Silverado trucks are built, after 4,300 unionized workers went on strike at three General Motors plants, including...
Taylor Swift Eras Tour film: What to expect
Taylor Swift performs onstage for the opening night of "Taylor Swift | The Eras Tour" at State Farm Stadium on March 17, 2023 in Swift City, ERAzona (Glendale, Arizona). The city of Glendale, Arizona was ceremonially renamed to Swift City for March 17-18 in honor of...
Number of people with $100 million has doubled since 2003
Mbbirdy | E+ | Getty ImagesThe population of the super wealthy, or those worth $100 million or more, doubled over the past 20 years as asset prices soared around the world, according to a new report. There are now 28,420 so-called centi-millionaires worldwide, up 12%...
Nike, American Eagle, Lululemon among favorite brands for teens: Survey
A customer shops at the Nike store on December 21, 2021 in Miami Beach, Florida.Joe Raedle | Getty ImagesTeens are a notoriously fickle bunch — but the group is also often on the leading edge of many trends the rest of us eventually adopt.In many ways, the cohort's...
Supreme Court won’t hear challenge to FDA rejection of flavored vapes
A woman smokes an E-Cigarette at Digital Ciggz in San Rafael, California.Justin Sullivan | Getty ImagesThe Supreme Court on Tuesday declined to hear arguments in a case challenging the Food and Drug Administration's authority to reject approvals of flavored electronic...
‘Shark Tank’ star Daymond John hosts Black Entrepreneurs Day
Daymond John attends the 2023 Vanity Fair Oscar Party Hosted By Radhika Jones at Wallis Annenberg Center for the Performing Arts in Beverly Hills, California, on March 12, 2023.Leon Bennett | Filmmagic | Getty Images"Shark Tank" star Daymond John is looking to give...
PepsiCo (PEP) Q3 2023 earnings
Pepsi products at a convenience store in Crockett, California, US, on Friday, June 16, 2023.David Paul Morris | Bloomberg | Getty ImagesPepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts' expectations and raised its outlook for its full-year...
Canadian Unifor autoworkers union strikes General Motors
Lana Payne speaks to delegates after being elected as president of UNIFOR, Canada's largest private sector union, at the Metro Toronto Convention Centre on Aug. 10, 2022.Richard Lautens | Toronto Star | Getty ImagesDETROIT — Labor strikes are now an international...
Hispanic inclusion in corporate America lagged in 2022, new survey
Hispanic inclusion in corporate America lagged last year, particularly in three key areas — C-suite representation, talent development and supplier procurement — according to the Hispanic Association on Corporate Responsibility's 2023 Corporate Inclusion Index.While...
Hollywood writers ratify new contract with studios
Writers Guild of America East members walk a picket line at the Paramount+ Summit outside the Paramount Building in Times Square in New York City on May 17, 2023Alexi Rosenfeld | Getty Images Entertainment | Getty ImagesThe Writers Guild of America has officially...
Believer’ faces competition from Taylor Swift Eras film
Scene from the upcoming film: The Exorcist: Believer.Universal Studios"The Exorcist: Believer" possessed the box office during its opening weekend, but industry experts wonder if it will continue to turn heads in the weeks to come.The Universal and Blumhouse...
Cruise prices rise as operators meet surging travel demand
Carnival's Breeze cruise ship leaves the Port of Miami.Christina Mendenhall | Bloomberg | Getty ImagesAs vacationers emerge into a post-pandemic travel world, cruises have made a spectacular comeback – and ticket prices are surging.Cruise operators like Carnival and...
UAW members to strike Mack Trucks after voting down tentative deal
UAW members attend a rally in support of the labor union strike at the UAW Local 551 hall on the South Side on October 7, 2023 in Chicago, Illinois. Jim Vondruska | Getty ImagesDETROIT – About 3,900 United Auto Workers members with Mack Trucks will go on strike Monday...
Airlines cancel flights, tours scramble
People wait in departing section at Ben Gurion Airport, Israel's only international airport, after many flights from abroad are cancelled due to the attacks launched by Palestinian factions in Tel Aviv, Israel on October 8, 2023.Turgut Alp Boyraz | Anadolu Agency |...
Nelson Peltz increases Disney stake, reignites potential proxy battle
Nelson Peltz speaking at the 2019 Delivering Alpha conference in New York on Sept. 19, 2019.Adam Jeffery | CNBCA proxy battle between Nelson Peltz and Disney is brewing for the second time this year.Peltz's activist firm, Trian Fund Management, has increased its stake...
U.S. investors seek edge in European soccer
Liverpool's Curtis Jones celebrates scoring their side's second goal of the game during the Premier League match at the King Power Stadium, Leicester. Picture date: Monday May 15, 2023.Tim Goode | Pa Images | Getty ImagesFor U.S. investors looking to score an...
Mexican tequila and beers Don Julio, Modelo boom in the U.S.
Packages of Modelo Especial beer are displayed for sale in a grocery store on June 14, 2023 in Los Angeles, California. Mario Tama | Getty ImagesPeople in the U.S. are drinking less alcohol than they used to, but when they do indulge, they're more likely than ever to...
Novavax Covid vaccine can still catch up to Pfizer, Moderna shots
A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands.Patrick Van Katwijk | Getty ImagesAmericans can finally get their hands on Novavax's...
UAW, Mack Trucks workers to vote on deal
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan, on Sept. 29, 2023.Rebecca Cook | ReutersDETROIT — United Auto Workers members with Volvo Group-owned Mack Trucks will vote this weekend on a tentative...
Where big investors are hiding amid choppy markets
A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010.Daniel Acker | Bloomberg | Getty ImagesInvestors have piled into short-term U.S. government bonds in a bid to wait out the upheaval caused...
UAW will not expand strikes this week at GM, Ford, Stellantis
Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan September 29, 2023.Rebecca Cook | ReutersDETROIT – The United Auto Workers will not expand strikes against the Detroit automakers this week amid...
Amazon set to launch Project Kuiper satellite internet prototypes
United Launch Alliance Atlas V rocket carrying the first two demonstration satellites for Amazon's Project Kuiper broadband internet constellation stands ready for launch on pad 41 at Cape Canaveral Space Force Station on October 5, 2023 in Cape Canaveral, Florida,...
Clorox, MGM Resorts deal with cyberattack fallout
cyano66 | iStock | Getty ImagesIt has been a very eventful couple of weeks for cyberattack-related news.It all kind of started Wednesday of last week when Johnson Controls revealed it had been hit by a cyberattack. The company warned it "experienced disruptions in...
NBA can shift balance of power in media with rights deal
Jimmy Butler #22 of the Miami Heat dribbles against Jamal Murray #27 of the Denver Nuggets during the fourth quarter in Game Five of the 2023 NBA Finals at Ball Arena on June 12, 2023 in Denver, Colorado.Justin Edmonds | Getty Images Sport | Getty ImagesThe National...
Streaming companies chase Spanish-language sports rights
Roberto Firmino of Liverpool shoots whilst under pressure from Eder Militao of Real Madrid during the UEFA Champions League Quarter Final Second Leg match between Liverpool FC and Real Madrid at Anfield on April 14, 2021 in Liverpool, England.Shaun Botterill | Getty...
Hyundai and Kia adopt Tesla’s electric vehicle charging
TESLA logo on a charging station on May 26, 2023.Harry Langer | Defodi Images | Getty ImagesHyundai Motor and Kia announced Thursday they will soon adopt Tesla's electric vehicle charging system, beginning in the fourth quarter of 2024 in the United States.Hyundai and...
Arizona Coyotes local games move to broadcast from cable
Barrett Hayton #29 of the Arizona Coyotes skates against the Dallas Stars at the American Airlines Center on December 6, 2021 in Dallas, Texas.Glenn James | National Hockey League | Getty ImagesThe Arizona Coyotes are skating to a new TV home for local games –...
Taylor Swift Eras Tour film surpasses $100 million in ticket sales
Taylor Swift: The Eros Tour movie promotional imageTaylor Swift's Eras Tour concert film is already a $100 million blockbuster — and it hasn't even hit theaters yet.AMC announced Thursday that global advance ticket sales for the pop singer's movie surpassed the...
Reusable rocket startup Stoke Space raises $100 million
The company's prototype vehicle "Hopper2" flies during a low-altitude launch and landing demonstration on Sept. 17, 2023 in Moses Lake, Washington.Stoke SpaceWashington-based startup Stoke Space raised $100 million in new funds, the company announced Thursday, as it...
Levi Strauss (LEVI) earnings Q3 2023
Levi's 501 blue jeans on display.Sean Gallup | Getty ImagesLevi Strauss on Thursday cut its full-year sales forecast, as it missed Wall Street's quarterly revenue expectations and was dragged down by weaker shopping trends at department stores and big-box retailers...
Why borrowing costs for nearly everything are surging
Federal Reserve Board Chair Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting at the Federal Reserve in Washington, D.C., on July 26, 2023.SAUL LOEB | GettyViolent moves in the bond market this week have hammered investors...
GM’s stock falls amid strikes, potential air bag recall
United Auto Workers members strike the General Motors Lansing Delta Assembly Plant on September 29, 2023 in Lansing, Michigan. Bill Pugliano | Getty ImagesDETROIT – General Motors' stock price fell below $30 a share Thursday for the first time in more than three years...
Weight loss drugs Wegovy, Ozempic may be linked to stomach paralysis
Still life of Wegovy an injectable prescription weight loss medicine that has helped people with obesity. It should be used with a weight loss plan and physical activity. Michael Siluk | UCG | Getty ImagesBlockbuster weight loss and diabetes drugs like Wegovy and...
Constellation Brands (STZ) earnings Q2 2024
Constellation Brands on Thursday reported earnings and revenue that topped analysts' expectations for its fiscal second quarter of 2024.The Mexican beer powerhouse, owner of the Modelo Especial and Corona Extra brands, reported double-digit sales growth in its beer...
Clorox shares slide after company says cyberattack hit sales
Clorox disinfecting wipes are seen displayed for sale at a Walmart Supercenter in Austin, Texas, on Sept. 18, 2023Brandon Bell | Getty ImagesShares of Clorox fell more than 8% Thursday, the morning after the company said an August cyberattack significantly weighed on...
Lucid’s shares fall after launch of cheaper Air EV
The Lucid Air Pure is the least-expensive version of Lucid's electric Air luxury sedan.Meghan Reeder | CNBCShares of Lucid Group were lower in early trading on Thursday after the company launched a cheaper version of its Air electric luxury sedan in a bid to stoke...
Rivian shares sink after EV maker announces $1.5 billion raise
Shares of Rivian Automotive were sharply lower in early trading on Thursday, after the company surprised investors with a plan to offer $1.5 billion in convertible notes.It also provided a preliminary estimate of its third-quarter revenue that was in line with Wall...
Rolls-Royce CEO Torsten Muller-Otvos retires
Torsten Muller-Otvos, the Rolls-Royce CEO who turned an aging brand into a coveted badge of success for pop stars, athletes and young entrepreneurs, is retiring after 14 years.Rolls-Royce announced Thursday that Muller-Otvos, 63, the longest serving CEO of Rolls-Royce...
Tiger Woods and Rory McIlroy TGL golf league to air on ESPN
Rory McIlroy shakes hands with Tiger Woods on the 18th green after they completed a practice round prior to the 2023 Masters Tournament at Augusta National Golf Club in Augusta, Georgia, April 3, 2023.Christian Petersen | Getty ImagesDisney's ESPN has nabbed the...
Dungeons & Dragons grows into whiskey, furniture and candles
Inside the storefront of Cantrip Candles in Hollywood, CA.Sarah Whitten | CNBCIt's not every day that a spilled beer can start a company. But that's exactly how Christoff Visscher got the idea for Cantrip Candles.An avid Dungeons & Dragons fan, Visscher was...
‘The Exorcist: Believer’ attracts Hispanic audiences
Still from the set of "The Exorcist: Believer."Courtesy: Universal StudiosTake it on faith. The new "Exorcist" movie will draw big Hispanic audiences.Universal is seeing stronger-than-average Hispanic interest for "The Exorcist: Believer" as the movie heads into its...
Popeyes overtakes KFC as No. 2 chicken chain, Chick-fil-A stays on top
A Popeyes restaurant is seen in Washington, D.C.Eric Baradat | AFP | Getty ImagesPopeyes has overtaken KFC as the No. 2 chicken chain in the U.S., a decade after Chick-fil-A first unseated KFC from the top spot.Chicken chains' battle for stomachs — and dollars — has...
Tilray Brands’ revenue jumps, losses narrow
Cannabis producer Tilray Brands on Wednesday reported a jump in revenue as it diversifies its portfolio and moves deeper into the beer industry.The company reported $177 million in net revenue, up 15% year over year, for its fiscal first quarter. Its cannabis division...
Clorox says sales and profit took a big hit from cyberattack
Clorox on Wednesday warned that its sales and profit took a big hit during the quarter ending Sept. 30, largely due to the after effects of a cyberattack that significantly affected operations.The bleach and cleaning products maker said it expects net sales to...
GM secures new $6 billion credit line as UAW strike costs $200 million
DETROIT – General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union."The facility that we announced today is a $6 billion line of credit that I think is prudent in light of some of the...
Disney discounting child tickets at domestic parks
Visitors can avoid lines at Disney World if they buy into the system.Joseph Prezioso | Anadolu Agency | Getty ImagesIt's about to be cheaper for families to visit Disney's domestic theme parks.The Walt Disney Company on Wednesday announced new, limited time discounts...
Ford reports 7.7% increase in third-quarter sales
United Auto Workers members strike at the Ford Michigan Assembly Plant on September 15, 2023 in Wayne, Michigan. Bill Pugliano | Getty ImagesDETROIT – Ford Motor's third-quarter U.S. new vehicle sales increased 7.7% compared to a year earlier, driven by increased...
Moderna combination Covid, flu vaccine shows positive data
Artur Widak | Nurphoto | Getty ImagesModerna on Wednesday said its combination vaccine targeting Covid and the flu will move to a final stage trial in adults ages 50 and above this year after showing positive results in an early to mid-stage study.The biotech company...
Mortgage demand falls to lowest level since 1996
A house is for sale in Arlington, Virginia, July 13, 2023.Saul Loeb | AFP | Getty ImagesMortgage rates just continue to climb higher, taking a particularly big leap last week. As a result, total mortgage demand fell 6% compared with the previous week, according to the...
United Airlines buys 110 additional Boeing, Airbus
A Boeing 787 Dreamliner operated by United Airlines takes off at Los Angeles International Airport (LAX) on January 9, 2013 in Los Angeles, California.David McNew | Getty ImagesUnited Airlines is ordering 110 additional Boeing and Airbus jetliners, locking in a supply...
FDA authorizes Novavax updated Covid vaccine
A vial labelled "Novavax V COVID-19 Vaccine" is seen in this illustration taken January 16, 2022. Dado Ruvic | ReutersThe Food and Drug Administration on Tuesday authorized Novavax's updated Covid vaccine for emergency use in people ages 12 and up, putting the shot on...
Mortgage rate heads toward 8%
Ryan Ratliff (C), Real Estate Sales Associate with Re/Max Advance Realty, shows Ryan Paredes (L) and Ariadna Paredes a home for sale on April 20, 2023 in Cutler Bay, Florida.Joe Raedle | Getty ImagesThe average rate on the popular 30-year fixed mortgage rose to 7.72%...
GM third quarter sales jump 21% as UAW strike slowly expands
United Auto Workers (UAW) members and supporters on a picket line outside the General Motors Co. Flint Processing Center in Swartz Creek, Michigan, US, on Monday, Sept. 25, 2023. Emily Elconin | Bloomberg | Getty ImagesDETROIT – An ongoing strike by the United Auto...
Manhattan luxury apartments are in short supply, driving up prices
Guests attend a pool party in the penthouse apartment at the 50 United Nations Plaza building in New York.Michael Nagle | Bloomberg | Getty ImagesA shortage of luxury apartments in Manhattan is causing a surge in prices at the top of the market, even as broader...
Krispy Kreme puts Insomnia Cookies up for sale
In this photo illustration, a Krispy Kreme glazed doughnut is shown on May 12, 2022 in Daly City, California.Justin Sullivan | Getty ImagesKrispy Kreme is exploring strategic alternatives, including an all-cash sale, of its majority stake in Insomnia Cookies, the...
Macy’s to open up to 30 new stores in strip malls
Macy's is opening more small-format stores across the country. They are roughly one fifth the size of its typical locations.Macy'sMacy's on Tuesday said it will open up to 30 smaller stores in strip malls over the next two years, as the retailer chases customers out...
Chipotle tests automation for burrito bowls and salads
A finished burrito bowl assembled by Chipotle and Hyphen's automation technology.Source: Chipotle Mexican GrillChipotle Mexican Grill is testing whether automation can make customers' burrito bowls and salads.It's the second time the burrito chain has publicly...
Beyonce Renaissance concert film to boost box office
Beyoncé performs onstage during the "RENAISSANCE WORLD TOUR"Kevin Mazur | Getty Images Entertainment | Getty ImagesMovie theaters will become a Bey Hive this December.Hot off the heels of a distribution deal to bring Taylor Swift's filmed Eras Tour to cinemas, AMC...
FCC enforces first space debris penalty in Dish Network settlement
Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C.Andrew Kelly | ReutersThe Federal Communications Commission announced a settlement with Dish Network on Monday in the regulator's first penalty related to space debris.Dish...
Drugmakers agree to Medicare drug price negotiations: What’s next
A pharmacist holds a bottle of the drug Eliquis, made by Pfizer Pharmaceuticals, at a pharmacy in Provo, Utah, January 9, 2020.George Frey | ReutersAll drugmakers of the first 10 medicines selected for Medicare drug price negotiations have agreed to participate in the...
Oddity Tech expects Q3 2023 sales to grow up to 31%
Oddity Il MakiageCoutesy: OddityOddity Tech released preliminary third-quarter results on Monday that show expected revenue growth of 29% to 31%, driven by repeat sales at its Il Makiage and Spoiled Child brands.The newly public retailer, which started trading on the...
Late night shows return, actors restart strike negotiations
Host Seth Meyers during Corrections on April 7, 2023.Lloyd Barrell | Nbcuniversal | Getty ImagesNow that the Hollywood writers' strike is over, late night hosts are preparing their first opening monologues since May, and actors are going back to the negotiating table...
Sphere Entertainment stock jumps after U2 performs at Las Vegas venue
The Sphere is seen during the opening night with U2:UV Achtung Baby Live concert at the Venetian Resort in Las Vegas, Nevada, United States on September 29, 2023. Tayfun Coskun | Anadolu Agency | Getty ImagesSphere Entertainment shares soared more than 10% Monday...
Fast-food drive-thru lanes speed up as fewer drivers wait in line
Chick-fil-A had the slowest average drive-thru experience in 2022, but the highest customer satisfaction.Jeff Greenberg | Universal Images Group | Getty ImagesFast-food drive-thru lanes are speeding up as fewer customers choose to order their meals and milkshakes...
Rivian (RIVN) Q3 2023 deliveries outperform
The Rivian name is shown on one of the company's new electric SUV vehicles in San Diego, California, Dec. 16, 2022.Mike Blake | ReutersRivian Automotive on Monday reported record third-quarter electric vehicle deliveries and said it remains on track to produce 52,000...
Kellanova bets on snacking as Ozempic, Wegovy take off
The snack aisle is seen during a tour of a new Amazon Go store in the Capitol Hill neighborhood of Seattle, Washington, U.S., on Monday, Feb. 24, 2020.Chona Kasinger | Bloomberg | Getty ImagesFor more than a century, frosted cornflakes have been the backbone of...
JetBlue raises flight attendant pay, union backs Spirit merger
JetBlue Airways aircraft are pictured at departure gates at John F. Kennedy International Airport in New York.Fred Prouser | ReutersJetBlue Airways said it will raise flight attendant pay next year and provide other bonuses to staff while the union representing cabin...
Judge denies request to block
A pharmacist holds a bottle of the drug Eliquis, made by Pfizer Pharmaceuticals, at a pharmacy in Provo, Utah, January 9, 2020.George Frey | ReutersA federal judge on Friday declined to block the Biden administration from implementing Medicare drug price negotiations,...
Blue Apron to be acquired by Wonder Group for $103 million
Scott Eisen | Getty Images News | Getty ImagesMeal kit business Blue Apron announced Friday it has agreed to sell itself to food and restaurant company Wonder Group, founded by entrepreneur Marc Lore, for $103 million.The deal, at $13 per share, represents a...
Citigroup CEO sees cracks emerging among consumers
Lower-end consumers have shifted buying patterns to save money as their bank accounts dwindle in size, according to Citigroup CEO Jane Fraser.The third-largest U.S. bank by assets has been monitoring its credit card customers for signs of distress, Fraser told CNBC's...
Ford CEO Farley says UAW is holding up talks over EV battery plants
Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023.Matthew Hatcher | AFP | Getty ImagesDETROIT – The United Auto Workers union is holding up negotiations with Ford Motor over future EV battery...
United Airlines pilots approve contract with up to 40% raises
Boeing 787-10 Dreamliner, from United Airlines company, taking off from Barcelona airport, in Barcelona on 28th March 2023. JanValls | Nurphoto | Getty ImagesUnited Airlines pilots approved a new contract with compensation increases of as much as 40.2% over the...
Obesity pill data boosts Structure Therapeutics shares
Aykut Karahan | Istock | Getty ImagesShares of Structure Therapeutics rose more than 30% on Friday after the biotech startup's experimental obesity pill succeeded in a small early-stage trial. The once-daily drug helped overweight or obese participants reduce up to 10...
Toys R Us to open new U.S. stores, and airport and cruise ship shops
Toys R Us is plotting a bold comeback in the U.S., as it plans to expand its brick-and-mortar presence with as many as 24 new flagship stores and a separate rollout at airports and on cruise ships starting this holiday season.The toy retailer's parent company, WHP...
UAW announces new strikes at GM and Ford plants, sparing Stellantis
DETROIT – The United Auto Workers union will expand strikes against General Motors and Ford Motor to two U.S. assembly plants at noon ET, UAW President Shawn Fain said Friday.The additional strikes will target Ford's Chicago Assembly in Illinois, which produces the...
Obesity, diabetes drug ad spending hit nearly $500 million: report
A view of a plastic model of a stomach during an interview with Doctor Thomas Horbach, specialist in surgery, visceral surgery and nutritional medicine on Novo Nordisk, which will start selling its hugely popular obesity drug Wegovy in Germany later this month, in...
Blue Origin, Sierra Space Orbital Reef space station in limbo
A rendering of the "Orbital Reef" space station in orbit.Blue OriginThe Orbital Reef space station partnership between Jeff Bezos' Blue Origin and Sierra Space is on rocky footing, CNBC has learned.The companies announced Orbital Reef as a co-led project in 2021, but...
Endeavor, Fenway Sports consider PGA Tour investment
The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017.Fred Kfoury | Icon Sportswire | Getty ImagesThe PGA Tour is attracting potential outside investors — some of which are...
GameStop’s survival demands ‘extreme frugality,’ CEO tells employees
A GameStop location on 6th Avenue in New York on March 23, 2021.View Press | Corbis News | Getty ImagesJust hours after being named GameStop's CEO, Ryan Cohen sent out a memo to employees Thursday that emphasized he will take dramatic steps to ensure the struggling...
Nike (NKE) earnings Q1 2024
Nike reported revenue Thursday that fell short of Wall Street's sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading.Here's how the sneaker giant performed during its...
Automakers grow frustrated as new deadline looms
Striking members of the United Auto Workers (UAW) picket outside the GM's Willow Run Distribution Center, in Bellville, Wayne County, Michigan, U.S., September 26, 2023.Evelyn Hockstein | ReutersDETROIT – Tensions are rising and accusations are flying between the...
NFL concerned about ads on white nationalist accounts
Harun Ozalp | Anadolu Agency | Getty ImagesThe National Football League on Thursday responded to a recent report that pointed out its ads were placed on white nationalist feeds on Elon Musk's social media platform, X."NFL unequivocally denounces any form of hate...
Player purchases are only the first step in strategy
The big-spending Saudi Pro League is aiming to build its global broadcasting presence and become one of the top 10 soccer leagues in the world, its chief operating officer, Carlo Nohra, told CNBC on Thursday.The league dominated the sports headlines over the summer as...
Delta CEO says carrier went ‘too far’ in SkyMiles changes, promises modifications after frequent flyer backlash
Delta Air Lines Boeing 717-200 airplane as seen on the final approach landing at New York JFK John F. Kennedy International Airport, NYC, USA.NurPhoto / ContributorDelta Air Lines CEO Ed Bastian said the airline will make "modifications" in the next few weeks to its...
FAA closes investigation into Blue Origin’s New Shepard rocket failure
The moment of the anomaly during the New Shepard cargo mission NS-23, in which the booster's engine failed.Blue OriginThe Federal Aviation Administration closed its investigation into last year's failed flight of a cargo mission by Jeff Bezos' Blue Origin, the...
Peloton shares soar on partnership with Lululemon
Jen Van Santvoord rides her Peloton exercise bike at her home in San Anselmo, California.Ezra Shaw | Getty ImagesPeloton and Lululemon are joining forces.The two companies announced a five-year partnership Wednesday that will bring Peloton's content to Lululemon's...
AstraZeneca, Bristol Myers Squibb in Medicare drug price negotiations
In this photo illustration, Farxiga is made available to customers at the New City Halsted Pharmacy on August 29, 2023 in Chicago, Illinois.Scott Olson | Getty ImagesAstraZeneca, Bristol Myers Squibb and Boehringer Ingelheim on Wednesday told CNBC they will agree to...
SpaceX wins first Pentagon contract for Starshield
An uncaptioned image posted on the company's website appears to show Starshield technology in orbit.SpaceXThe Pentagon has awarded Elon Musk's SpaceX its first confirmed contract for the Starshield network it's developing, a military-specific version of the company's...
UAW threatens to expand strikes again at GM, Ford, Stellantis
Members of the United Auto Workers (UAW) Local 230 and their supporters walk the picket line in front of the Chrysler Corporate Parts Division in Ontario, California, on September 26, 2023, to show solidarity for the "Big Three" autoworkers currently on...
Ozempic, Wegovy drug prescriptions hit 9 million
A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023. George Frey | ReutersU.S. health care providers wrote more than nine million...
Higher orange juice prices as futures hit another record
Coca-Cola Co.'s Minute Maid and Simply Orange brand orange juices sit on display in a supermarket in Princeton, Illinois.Daniel Acker | Bloomberg | Getty ImagesOrange juice is the latest item to succumb to higher prices at the grocery store, with futures on the...
UAW strikes threaten already vulnerable auto parts suppliers
Members of the United Auto Workers union hold a practice picket in front of Stellantis headquarters in Auburn Hills, Michigan, on Sept. 20, 2023.Bill Pugliano | Getty ImagesAs the United Auto Workers' strike against Ford Motor, General Motors and Stellantis moves...
Hollywood writers strike to end on Wednesday as WGA, AMPTP in deal
Striking WGA (Writers Guild of America) members picket with striking SAG-AFTRA members outside Paramount Studios on September 18, 2023 in Los Angeles, California.Mario Tama | Getty ImagesHollywood writers and studios have finalized the language of a tentative contract...
Mortgage demand shrinks as interest rates hit nearly 23-year high
Ryan Ratliff (L), Real Estate Sales Associate with Re/Max Advance Realty, shows Ryan Paredes (R) and Ariadna Paredes a home for sale on April 20, 2023 in Cutler Bay, Florida. Joe Raedle | Getty Images News | Getty ImagesMortgage interest rates just hit a level not...
U.S. Latino economic output grows to $3.2 trillion, new study says
Spectators cheer during Puerto Rican Day Parade in New York. Thousands of people lined both sides of Fifth Avenue for the annual parade, which recognizes the achievements and influence of Puerto Ricans and Latinos in the city.Eric Thayer | ReutersThe U.S. Latino...
Marijuana financing bill SAFER Banking to move forward in Congress
Senator Jeff Merkley, a Democrat from Oregon, speaks during a news conference at the U.S. Capitol in Washington, D.C., on Jan. 25, 2020.Zach Gibson | Bloomberg | Getty ImagesA new bill that aims to give the marijuana industry access to banking services is expected to...
Target says it will close nine stores, citing violence and theft
A Target department store in North Miami Beach, Florida, on May 17, 2023.Joe Raedle | Getty ImagesTarget said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime.The company will close one store...
Peloton co-founder Tom Cortese leaving company
People walk past a Peloton store in Coral Gables, Florida, on Jan. 20, 2022.Joe Raedle | Getty ImagesPeloton co-founder and Chief Product Officer Tom Cortese is leaving the company and will be replaced by longtime Silicon Valley veteran Nick Caldwell, the company...
Costco (COST) earnings Q4 2023
Costco on Tuesday reported quarterly earnings that topped Wall Street's expectations, as shoppers turned to the membership club for groceries but bought fewer big-ticket items.On an earnings call, Chief Financial Officer Richard Galanti said shoppers made more trips...
Barry Diller says fair use needs to be redefined to address AI
Slamming the tentative labor deal between Hollywood writers and studios, media mogul Barry Diller on Tuesday laid out his biggest bone of contention with generative artificial intelligence.Diller, chairman of IAC and Expedia, called for the law to be redefined to...
Organized retail crime and theft not increasing much, NRF study finds
Locked up toothpaste to prevent shoplifting are seen at a Duane Reade drugstore and pharmacy on August 24, 2023 in New York City.Angela Weiss | Afp | Getty ImagesRetail theft has caught the attention of the masses in recent years, from startling smash-and-grab videos...
Working women health-care costs far outpace men, study says
Luis Alvarez | Digitalvision | Getty ImagesHigh health care costs are hitting women in the U.S. workforce much harder than men.Working women spend $15.4 billion more in out-of-pocket health expenses annually compared to their male counterparts, according to a new...
New home sales fall in August
Sales of newly built homes fell 8.7% in August from July, to a seasonally adjusted annualized pace of 675,000 units, according to the U.S. Census Bureau. That is the slowest pace since March. Sales were still 5.8% higher than August 2022.The Census count is based on...
UPS to hire 100,000 holiday workers with Teamsters pay bump
A UPS worker sorts packages in New York on Dec. 18th, 2017.Adam Jeffery | CNBCUPS plans to hire more than 100,000 seasonal workers again this year to support the holiday shipping rush, the company announced Tuesday in a press release. This year, though, they'll be...
Fast fashion resale programs do little to reduce emissions, study says
A worker makes clothes at a garment factory that supplies Shein, in Guangzhou, China. Shein is set to produce goods in Brazil for the Latin American market, instead of shipping them from China.Jade Gao | AFP | Getty ImagesFast-fashion retailers like Zara, Shein and...
Biden, Trump seek blue-collar votes in Michigan
United Auto Workers from Louisville Kentucky rally in support of striking UAW members, in Detroit, Michigan, September 15, 2023.Rebecca Cook | ReutersDETROIT – Strikes by the United Auto Workers union against General Motors, Ford Motor and Stellantis will get the...
Professional Pickleball, Tennis Channel deepen media partnership
Carvana PPA TourCourtesy: Carvana PPA TourProfessional Pickleball is getting a dedicated home: The Tennis Channel.The PPA Tour and Tennis Channel announced on Tuesday they are teaming up via a joint venture in a push to further grow and popularize the sport that has...
Nissan says all new models launched in Europe will be fully electric
Japanese carmarker Nissan announced Monday that all new models it launches in Europe will be fully electric, as it reaffirmed its aim for solely electric vehicle sales on the continent by 2030.It said it was "pressing ahead" with the existing target just a week after...
Tour inside Manhattan’s newest members-only club
A battle between elite membership clubs is about to reach a whole new level, as Core Club's new 60,000-square-foot megaclub prepares to open in Manhattan next month.The new Core space, spread over four floors above Midtown, is the latest in a wave of elite membership...
Pfizer restarts production at tornado damaged plant in North Carolina
In this aerial image, damage is seen at a Pfizer pharmaceutical factory after a tornado hit the facility two days earlier, in Rocky Mount, North Carolina, July 21, 2023.Sean Rayford | Getty ImagesPfizer on Monday said it has restarted most production lines at a drug...
Movie theater shares pop on tentative WGA labor deal
The AMC 25 and Regal Cinemas on 42nd Street in Times Square, New York.Richard Levine | Corbis | Getty ImagesMovie theater shares popped Monday following news of a tentative labor deal between the Writers Guild of America and the Alliance of Motion Picture and...
Pickleball noise remedies in the works
People play pickleball at Central Park in New York City on April 8, 2023.Wang Fan | China News Service | Getty ImagesAmerica's fastest-growing sport is looking to be … quieter?The governing body of the sport, USA Pickleball, announced on Monday a new initiative to get...
Blue Origin CEO Bob Smith resigns, replaced by Amazon exec Dave Limp
Bob Smith, chief executive officer of Blue Origin LLC, (L), and Dave Limp, senior vice president of devices and services for Amazon.com Inc.Getty ImagesJeff Bezos' Blue Origin will replace CEO Bob Smith with outgoing Amazon executive Dave Limp, CNBC has learned.Smith...
Sierra Space fundraising nearly $300 million at $5 billion valuation
Artist's rendering of Sierra Space's Dream Chaser space plane in this undated handout obtained March 25, 2022.Sierra Space | via ReutersSierra Space, the subsidiary of private aerospace contractor Sierra Nevada Corporation, is finalizing a raise of nearly $300...
Merck Covid drug linked to virus mutations, study says
A worker handles a bottle of Merck & Co. and Ridgeback Biotherapeutics LPs Molnupiravir antiviral medication in a warehouse in Shoham, Israel, on Jan. 18, 2022. A fourth dose of the Pfizer-BioNTech vaccine was insufficient to prevent infection with the omicron...
WGA reaches tentative deal with studios
Striking members of the Writers Guild of America and supporters march towards La Brea Tar Pits, Los Angeles, CA. Irfan Khan | Los Angeles Times | Getty ImagesHollywood's writers and studios have a preliminary labor agreement.Talks between the Writers Guild of America...
UAW strike expands to 38 more facilities at GM and Stellantis
DETROIT – The United Auto Workers is expanding strikes to 38 parts and distribution locations across 20 states for General Motors and Stellantis, UAW President Shawn Fain said Friday morning.The union will not initiate additional strikes at Ford Motor, as the company...
Automakers question UAW strike motives after leaked messages
UAW President Shawn Fain (center) marches with UAW members through downtown Detroit after a rally in support of United Auto Workers members as they strike the Big Three auto makers on September 15, 2023 in Detroit, Michigan.Bill Pugliano | Getty ImagesDETROIT – Major...
Amazon Prime Video ads start in 2024
Rafael Henrique | Lightrocket | Getty ImagesAds are coming to Amazon's Prime Video.The company announced Friday that its streaming service – a part of Prime subscriptions that cost $14.99 a month – will now have limited ads in its TV series and movies. Advertising on...
McDonald’s to raise royalty fees for new franchised restaurants
A McDonald's golden arches logo is seen at a franchise restaurant owned by Rippon Family Restaurants.Paul Weaver | Lightrocket | Getty ImagesMcDonald's franchisees who add new restaurants will soon have to pay higher royalty fees.The fast-food giant is raising those...
Top issues and where GM, Ford and Stellantis stand
(L-R) Supporter Ryan Sullivan, and United Auto Workers members Chris Sanders-Stone, Casey Miner, Kennedy R. Barbee Sr. and Stephen Brown picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio. Sarah Rice | Getty ImagesDETROIT — With a deadline for...
Saudi Crown Prince Mohammed bin Salman says he will keep sportswashing
Saudi Arabian Crown Prince Mohammed bin Salman Al Saud attends Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. Evelyn Hockstein | ReutersSaudi Arabia's Crown Prince Mohammed bin Salman...
WWE’s SmackDown to return to NBCUniversal’s USA Network
Shinsuke Nakamura and Karrion Kross wrestle during the WWE SmackDown at Coliseo de Puerto Rico José Miguel Agrelot on May 05, 2023 in San Juan, Puerto Rico.(Gladys Vega | Getty Images Sport | Getty ImagesWWE's "Friday Night SmackDown" will return to USA Network in...
Home sales stick near recent lows in August while prices climb
A "For Sale" sign is displayed in front of a home in Arlington, Virginia, on August 22, 2023.Andrew Caballero-Reynolds | AFP | Getty ImagesSales of previously owned homes fell 0.7% in August from July to a seasonally adjusted, annualized rate of 4.04 million units,...
Hollywood studios, writers near agreement to end strike, hope to finalize deal Thursday, sources say
Writers and producers are near an agreement to end the Writers Guild of America strike after meeting face-to-face on Wednesday, people close to the negotiations told CNBC's David Faber on Wednesday.The two sides met and hope to finalize a deal Thursday, the sources...
Darden Restaurants (DRI) Q1 2024 earnings
A customer carries an Olive Garden shopping bag in Pittsburg, California, US, on Friday, Dec. 9, 2022. David Paul Morris | Bloomberg | Getty ImagesDarden Restaurants on Thursday reported earnings and revenue that topped analysts' expectations in its first quarter as...
Adidas CEO Gulden says Kanye West didn’t mean antisemitic remarks
Shoes are offered for sale at an Adidas store in Chicago, Feb. 10, 2023.Scott Olson | Getty ImagesAdidas CEO Bjorn Gulden defended Ye, the artist formerly known as Kanye West, and said the rapper didn't mean it when he made a series of antisemitic remarks.In a...
U.S. will again offer free at-home Covid tests starting Monday
COVID-19 home test kits are pictured in a store window during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, January 19, 2022.Carlo Allegri | ReutersThe Biden administration on Wednesday said it will resume offering...
Anheuser-Busch to stop cutting off Clydesdale horse tails
Budweiser Clydesdales handler walks several Clydesdales poor to bathing the horses at Houston Polo Club before this weeks Clydesdale appearances Monday, March 31, 2014, in Houston.James Nielsen | Houston Chronicle via Getty ImagesAnheuser-Busch InBev said it will no...
General Motors, Stellantis announce layoffs
United Auto Workers (UAW) members on a picket line outside the Stellantis NV Toledo Assembly Complex in Toldeo, Ohio, US, on Monday, Sept. 18, 2023.Emily Elconin | Bloomberg | Getty ImagesGeneral Motors and Stellantis said that they have laid off additional workers...
Some patients see insurance coverage delays
Pharmacist Ani Martirosyan administers an immunization to a patient at a CVS on Tuesday, Sept. 12, 2023 in Glendale, CA.Brian Van Der Brug | Los Angeles Times | Getty ImagesThe rollout of a new round of Covid vaccines in the U.S. is off to a bumpy start as some...
Kraft recalls Singles American cheese slices over choking hazard
Packages of Kraft Foods' Singles cheese slices are displayed at a supermarket in New York.Scott Eells | Bloomberg | Getty ImagesKraft Heinz recalled nearly 84,000 cases of Kraft Singles cheese slices on Tuesday after multiple customers reported a choking hazard.The...
Philip Morris considers selling stake in pharmaceuticals unit
In this photo illustration a Vectura Group plc logo is seen on a smartphone and a pc screen.Pavlo Gonchar | SOPA Images | Lightrocket | Getty ImagesPhilip Morris International is considering selling off a stake in its largest pharmaceuticals unit.The tobacco company,...
GM slams UAW rhetoric on day six of strike
Breaking with the long-standing tradition of the "handshake ceremony" with the auto executives of the Big Three auto makers to open contract talks, United Auto Workers president Shawn Fain instead speaks with and does "members' handshakes" with Stellantis workers at...
Walmart opens pet center with veterinary care and grooming
Walmart is piloting a pet services center in a suburb of Atlanta, but plans to open more locations in other parts of the country.WalmartWalmart is opening a dedicated pet services center, signaling it wants to be a place that customers turn to for veterinarian visits...
SpaceX countersues DOJ in hiring discrimination case
SpaceX headquarters in Los Angeles, California.AaronP/Bauer-Griffin | GC Images | Getty ImagesElon Musk's SpaceX sued the U.S. Department of Justice in a Texas federal court, as the company aims to stop the DOJ's hiring discrimination case on constitutional...
Ford faces possible Canadian strike amid UAW work stoppage
2023 Ford Super Duty F-350 LimitedFordDETROIT — Ford Motor's labor troubles could become an international issue that affects U.S. production of some pickup trucks, as Canadian union Unifor and the company have only hours to reach an agreement for roughly 5,600...
Eli Lilly sues clinics allegedly selling knockoff versions of Mounjaro
A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, March 29, 2023.George Frey | ReutersEli Lilly on Tuesday sued 10 medical spas, wellness clinics and...
Live sports come to Max Warner Bros. Discovery streaming platform
Los Angeles Dodgers center fielder Cody Bellinger (35) steals second base as St. Louis Cardinals second baseman Tommy Edman (19) takes the late throw at Dodger Stadium in the 2021 National League Wild Card game.Robert Hanashiro | USA TODAY SportsSports are coming to...
Kevin Durant’s Boardroom launches advisory firm
NBA player Kevin Durant attends a 2023 FIBA World Cup exhibition game between Puerto Rico and the United States at T-Mobile Arena on August 07, 2023 in Las Vegas, Nevada.Ethan Miller | Getty ImagesNBA superstar Kevin Durant and business partner Rick Kleiman on Tuesday...
Uninsured Americans can find free Moderna, Pfizer shots
Pharmacist Aaron Sun administers new vaccine COMIRNATY® by Pfizer, to Jimmy Smagula at CVS Pharmacy in Eagle Rock, CA.Irfan Khan | Los Angeles Times | Getty ImagesUninsured Americans can now get the newest Covid vaccines for free at certain locations across the...
UAW will strike at more U.S. auto plants if serious progress isn’t made
Blue Cross Blue Shield employees show their support to members of the United Auto Workers (UAW) union as they march through the streets of downtown Detroit following a rally on the first day of the UAW strike in Detroit, Michigan, on September 15, 2023. Matthew...
EV charging needs big improvements in U.S.
A charging port is seen on a Mercedes Benz EQC 400 4Matic electric vehicle at the Canadian International AutoShow in Toronto, Ontario, Canada, February 13, 2019.Mark Blinch | ReutersThere's a looming problem with the auto industry's grand EV plans.Automakers are...
Rocket Lab stock drops after first Electron launch failure in years
The company's Electron rocket carrying the CAPSTONE mission lifts off from New Zealand on June 28, 2022.Rocket LabRocket Lab stock fell in premarket trading after the company suffered its first launch failure in over two years early Tuesday morning.The company...
Gary Player says government should stay out of sports
Legendary golfer Gary Player thinks government and sports shouldn't mix, as the golf world goes through a major merger that has triggered antitrust concerns.Speaking to CNBC at the Berenberg Invitational on Monday, the South African golfer said the two have become...
New York cracks down on illegal marijuana stores
A pedestrian passes a smoke shop in New York City on June 16, 2023. New York authorities are cracking down on unlicensed smoke shops that are selling cannabis.Spencer Platt | Getty Images News | Getty ImagesNew York officials are ramping up efforts to stop the...
WGA strike: Negotiations resume this week
Members of the Writers Guild of America East are joined by SAG-AFTRA members as they picket at the Warner Bros. Discovery NYC office on July 13, 2023 in New York City.Michael M. Santiago | Getty ImagesThe Writers Guild of America said Monday that the union will resume...
Stellantis could close 18 facilities under deal
United Auto Workers members attend a solidarity rally as the UAW strikes the Big Three automakers on September 15, 2023 in Detroit, Michigan.Bill Pugliano | Getty ImagesDETROIT — The most recent contract proposal by automaker Stellantis to the United Auto Workers...
Americans plan to cut spending through holidays, survey says
U.S. consumers have cut back on spending this year, and they plan to continue to do so through the holidays, a new CNBC-Morning Consult survey has found.The vast majority of adults (92%) have reduced their spending over the past six months, according to a poll fielded...
Morgan Stanley uses ChatGPT to help financial advisors
Shannon Stapleton | ReutersMorgan Stanley has officially kicked off the generative AI era on Wall Street.The bank plans to announce Monday that the assistant it created with OpenAI's latest generative AI software is "fully live" for all financial advisors and their...
Homebuilder sentiment goes negative for the first time in 7 months
U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates.Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home...
Clorox says last month’s cyberattack is still disrupting production
Colorox brand toilet bowl cleaner sits on display at a supermarket in Princeton, Ill.Daniel Acker | Bloomberg | Getty ImagesClorox on Monday warned of a material financial hit from ongoing production disruptions caused by a cyberattack last month.The company, which...
Disney asset sales will move media industry forward
Chief executive officer of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City.Getty ImagesUsually when a person or company sells something, the primary...
Rimac Nevera EV review: Powerful, easy to drive
MALIBU, California – The most amazing thing about the $2.1 million Rimac Nevera is how easy it is to just get in and drive.The Nevera is an electric hypercar from Croatia. It sits low — very low — to the ground, and at first glance it looks like the simple act of...
Investing in Space: Industry enters new era
On site at the 2023 edition of the World Satellite Business Week conference in Paris, France.Michael Sheetz | CNBCCNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. CNBC's...
UAW strike brings blue collar vs. billionaire battle, Bernie Sanders to Detroit
United Auto Workers President Shawn Fain speaks with the media and union members outside the UAW Local 900 headquarters across the street from the Ford Assembly Plant in Wayne, Michigan, Sept. 15, 2023.Matthew Hatcher | AFP | Getty ImagesDETROIT – The United Auto...
McDonald’s advocacy group criticizes new California fast food bill
After California lawmakers passed a landmark fast-food bill, an independent advocacy group of McDonald's owners is pushing back against what it says will be a "devastating financial blow" to its franchisees in the state, according to a memo to its membership viewed by...
New York legal marijuana program expands retail licenses
A woman walks by a smoke shop in New York City that displays a marijuana leaf in the window, June 16, 2023.Spencer Platt | Getty Images News | Getty ImagesCoss Marte's marijuana dispensary in lower Manhattan has already cost him over $1 million, and it's not even open...
Planet Fitness shares sink after board ousts CEO
Chris Rondeau, CEO of Planet FitnessAdam Jeffery | CNBCIn a move that stunned investors and employees alike, Planet Fitness ousted company veteran Chris Rondeau from his post as CEO, the workout chain said Friday in a press release.The stock dropped 15% in the wake of...
Why Stellantis could face a longer UAW strike than Ford or GM
Supporters cheer as United Auto Workers members go on strike at the Ford Michigan Assembly Plant on September 15, 2023 in Wayne, Michigan. Bill Pugliano | Getty Images News | Getty ImagesThe United Auto Workers labor union launched targeted strikes against the three...
California fast food minimum wage deal: What to know
Flags are flown at a car caravan and rally of fast food workers and supporters for passage of AB 257, a fast-food worker health and safety bill, on April 16, 2021 in the Boyle Heights neighborhood of Los Angeles, California.Mario Tama | Getty ImagesFast-food workers...
Air Force Secretary Frank Kendall talks Elon Musk, Ukraine, China, AI
U.S. Air Force Secretary Frank Kendall does not shy away from commenting on controversy — even as it relates to the world's richest person and a key Department of Defense contractor.Kendall weighed in Tuesday after SpaceX CEO Elon Musk acknowledged withholding...
How to decide whether to get them together
Pharmacist Ani Martirosyan administers an immunization to a patient at a CVS on Tuesday, Sept. 12, 2023 in Glendale, CA. Brian Van Der Brug | Los Angeles Times | Getty ImagesFor the first time ever, vaccines for Covid, the flu and respiratory syncytial virus are...
Spirit expands pilot training pipeline with Liberty University
A Spirit Airlines plane takes off at Los Angeles International Airport in Los Angeles, June 1, 2023.Mario Tama | Getty ImagesSpirit Airlines on Thursday said it will partner with Liberty University, the 10th school that it's working with, to help beef up a pilot...
GM sweetens wage and benefits offer to workers
General Motors CEO Mary Barra talks with reporters following a meeting with lawmakers from Michigan and Ohio at the U.S. Capitol June 05, 2019 in Washington, DC.Chip Somodevilla | Getty ImagesDETROIT – General Motors is attempting to avoid a looming strike by the...
Everything you need to know
United Auto Workers President Shawn Fain greets workers at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023.Rebecca Cook | ReutersDETROIT – The United Auto Workers union is...
JPMorgan to offer online payroll services
Co-founders Eddie Kim, Josh Reeves, and Tomer London of fintech startup Gusto, which handles payroll services for small businesses.Courtesy: Kelly Boynton | GustoJPMorgan Chase is stepping up its appeal to small business customers by planning to offer digital payroll...
UAW strike hits Ford, GM, Stellantis plants
Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023.Michael Wayland / CNBCDETROIT – Thousands of members of the United Auto Workers went on strike at three U.S. assembly plants of General...
More companies warn higher costs will eat into profits
An American Airlines 787 is loaded with cargo at Philadelphia International Airport.Leslie Josephs/CNBCMore companies are warning that a surge in the cost of fuel and employee pay hikes will eat into profits this quarter.Companies from aerospace manufacturers to...
Sweetgreen sued by New York workers for alleged racial discrimination
Workers prepare apples and avocados inside a Sweetgreen Inc. restaurant.Adam Glanzman | Bloomberg | Getty ImagesTen Sweetgreen employees are suing the salad chain, alleging racial discrimination at seven of its New York City restaurants.The lawsuit, filed Thursday in...
Kevin Hart tequila brand Gran Coramino sponsors Philadelphia Eagles
When the Philadelphia Eagles kick off their home opener on Thursday Night Football, the NFL team will also start a new sponsorship deal with Gran Coramino, the luxury tequila brand co-founded by comedian, entrepreneur and Philadelphia native Kevin Hart."It's a big...
Ford CEO fires back at UAW leader as Thursday strike deadline looms
Ford CEO Jim Farley speaks with media after revealing the 2024 Ford F-150 for the Detroit auto show on Sept. 12, 2023.Michael Wayland / CNBCDETROIT – Ford Motor CEO Jim Farley rebuffed comments by United Auto Workers President Shawn Fain that the company is not taking...
Retailers are losing $100 billion a year from fraud: Riskified
Oscar Wong | Getty ImagesFor the last three years, Robert has used a different email address to take advantage of a Black Friday Hulu promotion that most recently offered new customers a yearlong subscription for just $1.99 a month instead of the usual $7.99 monthly...
Delta joins other airlines in cutting profit estimates on higher costs
Delta Air Lines airplanes at the Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, U.S., on Tuesday, Dec. 21, 2021.Elijah Nouvelage | Bloomberg | Getty ImagesDelta on Thursday joined other carriers in trimming its profit estimates as costs...
Manhattan median rent remains at record high
A "For Rent" sign outside an apartment building in the East Village neighborhood of New York, US, on Tuesday, July 12, 2022.Gabby Jones | Bloomberg | Getty ImagesManhattan renters may have reached their "affordability threshold" in August, as median rents remained at...
Major League Pickleball, PPA merger back on
Lacy Schneemann of the Florida Smash returns a shot during a group play Major League Pickleball match against BLQK at Pickle & Chill in Columbus, Ohio, Oct. 15, 2022.Emilee Chinn | Getty ImagesAfter weeks of drama in professional pickleball, the PPA Tour and Major...
Former Starbucks CEO Howard Schultz steps down from board
Former Starbucks CEO Howard Schultz speaks at the Annual Meeting of Shareholders in Seattle, March 22, 2017.Jason Redmond | AFP | Getty ImagesFormer Starbucks CEO Howard Schultz is stepping down from the coffee chain's board, the company said Wednesday."I look forward...
Delta makes it harder to get into airport lounges
Delta's new SkyClub at John F. Kennedy International Airport in New York.Leslie Josephs/CNBCDelta Air Lines is changing how customers can earn elite frequent flyer status and is making it harder for many American Express cardholders to get into the carrier's airport...
UAW auto strike negotiations: Where things stand
UAW President Shawn Fain addresses union members during a Solidarity Sunday rally in Warren, Michigan, Aug. 20, 2023Michael Wayland / CNBCDETROIT — The United Auto Workers and Detroit automakers remain far apart ahead of the union "likely" strategically striking the...
Marvel VFX artists unanimously vote to unionize
Mark Ruffalo as The Hulk in "Avengers: Endgame."Disney | MarvelHollywood, already gripped by two strikes, has some new union members.Marvel Studios' visual effects workers unanimously voted in favor of unionizing with the International Alliance of Theatrical Stage...
Detroit Auto Show NAIAS 2023 reveals from F GM STLA
DETROIT — Even as the ongoing negotiations between the three Detroit automakers and the United Auto Workers labor union overshadowed all else in the industry, some companies used this year's edition of the Detroit Auto Show to show off new and revamped models on...
UAW strikes against Detroit carmakers will happen without contracts
The United Auto Workers union will strike against the Detroit automakers if the sides don't reach labor deals by an 11:59 p.m. ET Thursday deadline, UAW President Shawn Fain said Wednesday on CNBC's "Squawk Box."Fain's comments came the morning after he outlined plans...
What you need to know
A nurse prepares doses of the Pfizer vaccine during a COVID-19 vaccination event at Josephine's Southern Cooking in Chatham, Illinois, Dec. 30, 2021.Brian Cassella | Tribune News Service | Getty ImagesA new round of Covid vaccines is finally here in the U.S.The...
SpaceX no longer taking losses to produce Starlink satellite antennas
A Starlink satellite terminal, also known as a dish, setup in front of an RV.SpaceXPARIS – Elon Musk's SpaceX is no longer absorbing the cost of the Starlink antennas that it sells with its satellite internet service, a company executive said on Wednesday, a key step...
Citigroup CEO Jane Fraser reorganizes business
Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023.Mike Blake | ReutersCitigroup CEO Jane Fraser announced a corporate reorganization Wednesday, saying the move would cut down management layers and...
American Airlines, Spirit cut summer profit forecast on costs
An American Airlines plane sits at the gate at Ronald Reagan Washington National Airport (DCA) in Arlington, Virginia on february 23, 2023Daniel Slim | Afp | Getty ImagesAmerican Airlines and Spirit Airlines on Wednesday joined other carriers in warning that higher...
Moderna flu vaccine shows promising phase three trial results
A nurse prepares a flu shot at Huntington Village Pediatrics, in Huntington, New York on December 8, 2021.Steve Pfost | Newsday | Getty ImagesModerna on Wednesday said its experimental mRNA-based flu vaccine produced a stronger immune response against four strains of...
Goldman Sachs is in the spotlight as Arm, Instacart test IPO market
David Solomon, Goldman Sachs interview with David Faber, September 7, 2023.CNBCThe return of large tech IPOs this week after a prolonged drought isn't just a test of investors' appetite for risky new offerings — it's a key moment for Wall Street's top advisor, Goldman...
CDC recommends updated Covid vaccines for ages 6 months and up
A vial of the Moderna coronavirus booster vaccine targeting BA.4 and BA.5 Omicron subvariants is pictured at Skippack Pharmacy in Schwenksville, Pennsylvania, Sept. 8, 2022.Hannah Beier | ReutersThe Centers for Disease Control and Prevention on Tuesday recommended...
Ford to double F-150 hybrid pickup production as EV sales growth slows
2024 Ford F-150 PowerBoost Platinum hybridFordDETROIT — Ford Motor plans to double production of a hybrid version of its F-150 pickup truck as the company grapples with slower-than-expected sales of its all-electric vehicles.Ford expects to increase sales of the V-6...
Decongestant phenylephrine doesn’t work, FDA advisors say
Cold and flu medicine including Nyquil sits on a store shelf on September 12, 2023 in Miami, Florida.Joe Raedle | Getty ImagesThe main ingredient used in many popular over-the-counter cold and allergy medications doesn't actually work to get rid of nasal congestion,...
TKO, the merged UFC-WWE, aspires to grow beyond fighting
Ultimate Fighting Championship and World Wrestling Entertainment executives decided to name their new publicly traded company TKO to honor the companies' expertise in fighting, but they have broader aspirations than just owning combat sports.TKO began trading on the...
Cannabis ETFs rise after HHS recommendation to reschedule marijuana
An employee of Aurora Deutschland GmbH, a manufacturer of medical Cannabis products, inspects a flowering Cannabis plant in a greenhouse in Leuna, Germany September 11, 2023. Lisi Niesner | ReutersMarijuana-related ETFs are soaring in September as investors flood back...
Target strikes deal with jeweler Kendra Scott
Shoppers will soon see jewelry designed by Kendra Scott at about 150 Target stores. Most of the items will be under $40.TargetTarget said Tuesday that it has struck a deal with jeweler Kendra Scott to carry exclusive collections of earrings, bracelets and more, as it...
Wall Street sees potential upsides of UAW auto strikes
United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019.Michael Wayland / CNBCDETROIT – Many on Wall Street view potential strikes by United Auto Workers against the Detroit automakers as largely...
SpaceX near rocket market monopoly is ‘huge concern:’ Lazard banker
Vikram Nidamaluri, Managing Director of Telecom, Media, and Entertainment at Lazard, speaks during a panel at the World Satellite Business Week conference on Sept. 11, 2023.Michael Sheetz | CNBCPARIS – A Lazard investment banker sounded the alarm about the dominance...
UPS CEO Carol Tome sells investors on new Teamsters labor contract
UPS CEO Carol Tome introduces U.S. President Donald Trump for an event at a UPS facility at Hartsfield-Jackson Atlanta International Airport in Atlanta, Georgia, U.S., July 15, 2020. Jonathan Ernst | ReutersUPS CEO Carol Tome said the costs incurred by the company for...
Macy’s chain Bloomingdale’s taps Olivier Bron as its next CEO
Shoppers walk past a Bloomingdale's store in the SoHo neighborhood of New York, US, on Wednesday, Dec. 28, 2022.Victor J. Blue | Bloomberg | Getty ImagesMacy's said Tuesday that it has tapped international retail executive Olivier Bron as the next CEO of its upscale...
McDonald’s to start focus groups with owners as part of civil rights audit
A McDonald's restaurant near Times Square, NYC on July 29th, 2023. Adam Jeffery | CNBCMcDonald's will begin virtual focus groups with some owners and operators as a part of an ongoing civil rights audit, according to a message to franchisees viewed by CNBC.The fast...
DraftKings sorry for 9/11 bet offer on New York teams
In this photo illustration, the American daily fantasy sports contest and sports betting company DraftKings logo is displayed on a smartphone screen.Budrul Chukrut | Lightrocket | Getty ImagesSports gambling giant DraftKings apologized Monday for a bet parlay offer...
FDA approves new shots from Pfizer, Moderna
A health-care worker prepares a dose of the Pfizer-BioNTech Covid-19 vaccine at a vaccination clinic in the Peabody Institute Library in Peabody, Massachusetts, Jan. 26, 2022.Vanessa Leroy | Bloomberg | Getty ImagesThe Food and Drug Administration on Monday approved...
Huge mistake to think economy will boom for years
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Thursday, Oct. 13, 2022.Ting Shen | Bloomberg | Getty ImagesJPMorgan Chase CEO...
Telesat buys SpaceX launches for Lightspeed internet satellites
A rendering of Telesat's low earth orbit broadband constellation.TelesatPARIS – Competitors or not, SpaceX continues to be willing to launch for other satellite internet companies.Elon Musk's SpaceX signed a hefty deal with satellite operator Telesat, the companies...
Disney, Charter near carriage deal that would end cable blackout, sources say
SportsCenter at ESPN Headquarters.The Washington Post | The Washington Post | Getty ImagesThe blackout fight between cable giant Charter Communications and Disney appears to be coming to a close. Hours ahead of "Monday Night Football," which airs on Disney's pay-TV...
U.S. Export Import Bank working through $5 billion space pipeline
A Falcon Heavy rocket launches the Viasat-3 "Americas" satellite on May 1, 2023.SpaceXPARIS – The U.S. export credit agency is working through a $5 billion pipeline of applications related to the space industry, as companies look to fund projects in orbit in a tighter...
RTX to take $3 billion charge on Pratt & Whitney engine problem
Model of a Pratt & Whitney GTF engine is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. Benoit Tessier | ReutersRTX said Monday that an engine manufacturing flaw forcing accelerated inspections will hit...
Smucker to buy Twinkie maker Hostess
Hostess Twinkies and CupCakes are displayed on a store shelf on May 17, 2021 in San Anselmo, California.Justin Sullivan | Getty ImagesJelly maker J.M. Smucker is buying Twinkie owner Hostess Brands for $5.6 billion, or $34.25 a share.Hostess shareholders will receive...
How Taylor Swift could change the movie theater industry
Taylor Swift pauses between songs during her first sold-out concert of three nights at AT&T Stadium in Arlington, Texas, in March.Fort Worth Star-telegram | Tribune News Service | Getty ImagesLOS ANGELES – Taylor Swift changed the music industry. Now she's coming...
Ozempic, Wegovy may curb drinking, smoking: What we know
An Ozempic (semaglutide) injection pen is seen on a kitchen table in Riga, Latvia on 06 August, 2023. Jaap Arriens | Nurphoto | Getty ImagesHeather Le Biller shed 9 pounds within the first week of taking Novo Nordisk's blockbuster diabetes drug Ozempic – and then even...
Supreme Court asked to decide abortion pill case
Mifepristone, also known as RU-486, is a medication typically used in combination with misoprostol to bring about a medical abortion during pregnancy and manage early miscarriage.Soumyabrata Roy | Nurphoto | Getty ImagesDrug company Danco Laboratories on Friday asked...
Apartment rents on verge of declining due to massive supply
Apartment rents have been cooling off sharply for several months, and they look like they're about to go negative compared with a year ago.Rents in August were just 0.28% higher than August 2022, according to real estate tech platform RealPage. Compare that to a year...
Stellantis offers pay increase to UAW, days before possible strike
Demonstrators during a United Auto Workers (UAW) practice picket outside the Stellantis Mack Assembly Plant in Detroit, Michigan, US, on Wednesday, Aug. 23, 2023.Jeff Kowalsky | Bloomberg | Getty ImagesStellantis on Friday offered significant four-year wage increases...
Kroger (KR) earnings Q2 2023
Good news for consumers could be bad news for Kroger.As prices that shoppers pay for groceries stabilize or fall, the supermarket operator's sales are sagging.On Friday, the company posted fiscal second-quarter sales that missed Wall Street's expectations. The company...
FAA orders SpaceX to keep Starship grounded, take corrective action
The Federal Aviation Administration said Wednesday that SpaceX is not yet clear for another test flight of its Starship Super Heavy launch vehicle.The Washington Post | The Washington Post | Getty ImagesThe Federal Aviation Administration on Friday said Elon Musk's...
Used vehicle prices may have bottomed for 2023
Used cars are offered for sale at a dealership on July 11, 2023 in Chicago, Illinois.Scott Olson | Getty ImagesDETROIT – Prices of wholesale used vehicles may have bottomed for the year, as Cox Automotive said prices last month increased for the first time since...
Kroger will pay up to $1.2 billion to settle most nationwide opioid claims
In this photo illustration, the Kroger Company logo is displayed on a smartphone screen.Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesKroger on Friday said it has agreed to pay $1.2 billion to U.S. states, subdivisions and Native American tribes to settle...
How much shrink and retail theft cost Lowe’s, Target, Macy’s
Anti-theft locked beauty products with customer service button at Walgreens pharmacy, Queens, New York.Lindsey Nicholson | Universal Images Group | Getty ImagesA range of retailers are again blaming shrink as one of the reasons they saw another quarter of lackluster...
Carl Icahn supports new Illumina CEO Thaysen after proxy fight
Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016.David A. Grogan | CNBCCarl Icahn on Thursday expressed his support for Illumina's new CEO Jacob Thaysen – a relief for the company as it tries to rebound from a bitter proxy fight with the...
Disney drops all but free speech claim in political retaliation suit against DeSantis
Disney on Thursday amended its federal lawsuit against Florida Gov. Ron DeSantis to focus solely on its First Amendment claim that the governor politically retaliated against the company.Disney last week had asked to drop its other claims in the case, which concern a...
Goldman Sachs CEO David Solomon hopeful about IPOs
The upcoming spate of tech IPOs could help kickstart muted capital markets, Goldman Sachs CEO David Solomon told CNBC's David Faber.Firms including chip designer Arm and Instacart have filed to go public, and companies that are mulling listings will watch how those...
Walmart cuts starting pay for new hires who prepare online orders, stock shelves
A worker stocks the shelves at a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. Joe Raedle | Getty Images News |...
Steve Cohen invests in Tiger Woods Rory McIlroy golf startup TGL
New York Mets owner Steve Cohen speaks to the media before a game against the Milwaukee Brewers at Citi Field in New York City, June 28, 2023.Jim Mcisaac | Getty ImagesFinancier and Mets owner Steve Cohen has bought the founding rights to the New York team in Tiger...
Disney, Charter blackout fight persists as NFL season kicks off
Sopa Images | Lightrocket | Getty ImagesThe kickoff to the NFL season is Thursday night, and Charter Communications doesn't appear to be moving down the field in its negotiations with Disney.Last week, Charter and Disney's talks over contract fees spilled into the...
GM offers wage increases, hefty bonuses in UAW contract fight
UAW Local 5960 member Kinethia Black fills the brakes of a 2022 Chevrolet Bolt EUV during vehicle production on Thursday, May 6, 2021 at the General Motors Orion Assembly Plant in Orion Township, Michigan.Photo by Steve Fecht for ChevroletDETROIT – General Motors on...
British American Tobacco finalizes Russia exit
British American Tobacco has finalized its exit from Russia about 18 months after it pledged to do so in the wake of Moscow's invasion of Ukraine.The multinational cigarette maker said in a statement Thursday it agreed "to sell its Russian and Belarusian businesses in...
New York man Ryan Furtado killed ‘instantly,’ suit says
Cari Gundee rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California.Ezra Shaw | Getty ImagesThe family of a New York man claims he was killed by his Peloton bike just six months after buying it, but the company insists that his own...
Barbie wins summer box office, Taylor Swift might not save fall
A scene from "Barbie."Courtesy: Warner Bros.Hollywood bet big on blockbuster franchise sequels to revive its summer cinema business, but it was fresh fare such as "Barbie" and "Oppenheimer" that fueled the industry's haul of $4 billion, a 19% jump from last...
UAW leader says strike would send Biden a message
A strike by the United Auto Workers union against the Detroit automakers would help President Joe Biden and other politicians pick a side when it comes to organized labor, UAW President Shawn Fain said Wednesday night."I think our strike can reaffirm to [Biden] of...
Airlines warn about spike in fuel costs, Southwest narrows revenue outlook
A bird flies by in the foreground as a Southwest Airlines jet comes in for a landing at McCarran International Airport on May 25, 2020 in Las Vegas, Nevada.Ethan Miller | Getty ImagesMajor U.S. airlines warned about a spike in jet fuel prices, adding to costs during...
Roku to lay off 10% of workforce, stock jumps
Roku products arranged in Hastings-On-Hudson, New York, US, on Tuesday, July 25, 2023.Tiffany Hagler-Geard | Bloomberg | Getty ImagesRoku said it will lay off 10% of its workforce, or about 360 people, as the streaming software company looks to slash expenses.In a...
AMC shares fall as it announces plan to sell additional stock
Traders work on the floor of the New York Stock Exchange, Aug. 22, 2022.Brendan McDermid | ReutersShares of AMC Entertainment fell sharply in early trading Wednesday after the theater chain said in a filing that it plans to sell up to 40 million new shares to raise...
Record number of Americans to bet on NFL this season
Buffalo Bills quarterback Josh Allen (17) runs the ball during the AFC Divisional Round playoff game against the Kansas City Chiefs on January 23rd, 2022 at Arrowhead Stadium in Kansas City, Missouri.William Purnell | Icon Sportswire | Getty ImagesAs legalized sports...
Football, NFL shift toward streaming, away from regular TV
Aaron Rodgers, #8 of the New York Jets, warms up prior to the game against the New York Giants at MetLife Stadium in East Rutherford, New Jersey, Aug. 26, 2023.Mike Stobe | Getty ImagesOn any given Sunday, there will be more National Football League games available on...
Moderna says new Covid vaccine effective against BA.2.86 variant
Artur Widak | Nurphoto | Getty ImagesModerna's new Covid vaccine produced a strong immune response against BA.2.86, a highly mutated omicron variant that health officials are watching closely, according to clinical trial data the biotech company released...
Apple buying Disney is unlikely
About 10 years ago, I invented a rule about covering mergers and acquisitions that still hasn't failed me.Here it is: Will Apple buy [insert company of your choice here]? --> No.Apple almost never buys name-brand companies. Its largest takeover was 2014's $3...
Taylor Swift Eras Tour concert film could open with $100 million
Taylor Swift performs onstage during her The Eras Tour at Lumen Field in Seattle, July 22, 2023.Mat Hayward/tas23 | Getty Images Entertainment | Getty ImagesTaylor Swift is already a superstar. Now, she's about to put up superhero-style numbers at movie theaters.Days...
Bezos snubbed Musk, SpaceX over satellite contract: Lawsuit
Elon Musk, founder of SpaceX, left, and Amazon and Blue Origin founder Jeff Bezos.Getty ImagesAn Amazon shareholder lawsuit says the company snubbed SpaceX for valuable satellite launch contracts because of Jeff Bezos' personal rivalry with Elon Musk, who has taunted...
Horror movies will dominate movie theaters through Halloween
Kenneth Branagh stars as Hercule Poirot in 20th Century Studio's "A Haunting in Venice."Disney | 20th Century StudiosTime to pair that pumpkin spice latte with some popcorn. Spooky movie season is officially here.Starting Friday, movie theaters will have a steady...
Home prices rise in July, but may be on the verge of cooling off
After rising steadily since January, home prices may now be turning lower again.The latest read on home prices shows they hit another all-time high in July, rising 2.3% from the same month last year, according to Black Knight. That's a bigger annual gain than the...
When to wear masks as cases rise, new variants emerge in U.S.
Michael Nason, 29, left, and Donna Nason, 25, right, both of Bakersfield are wearing a face mask in Union Station on Thursday, Aug. 31, 2023, in Los Angeles, CA. COVID-19 making a comeback in California.Francine Orr | Los Angeles Times | Getty ImagesAn uptick in Covid...
What it means for other pharma deals
Robert Galbraith | ReutersThe Federal Trade Commission last week allowed Amgen to move forward with its $27.8 billion acquisition of Horizon Therapeutics under a settlement agreement – a move that could have ramifications for a string of other pharmaceutical industry...
Illumina names CEO Jacob Thaysen after Icahn proxy fight over Grail
A building on the campus at the world headquarters of Illumina is shown in San Diego, California, Sept. 1, 2021.Mike Blake | ReutersIllumina's board on Tuesday named Jacob Thaysen the DNA sequencing company's new CEO as it tries to rebound from a grinding dispute over...
Women are fueling the box office in China Hollywood should take note
Fans watch a movie at a cinema in Shanghai, China.Future Publishing | Future Publishing | Getty ImagesWomen are fueling China's box office despite making up a smaller share of the population — and Hollywood should take note.While women account for less than half of...
Taylor Swift Eras Tour concert film record first-day ticket sales
Taylor Swift performs in Denver during her Eras Tour, July 14, 2023.Tom Cooper/tas23 | Getty Images Entertainment | Getty Images… Ready for it?In less than 24 hours on the market, ticket sales for Taylor Swift's Eras Tour concert film have already broken...
How to check if expired tests still work as cases rise
In this photo illustration, Abbott's at-home covid-19 rapid test kits are seen on display in Orlando.Paul Hennessy | LightRocket | Getty ImagesAs Covid cases surge again in the U.S., Americans are digging out unused at-home tests that they stashed earlier on in the...
Charter puts media companies on notice in bid to save pay-TV bundle
In this photo illustration, the Charter Communications logo is displayed on a smartphone screen.Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesCharter Communications CEO Chris Winfrey wants the pay-TV bundle to live.He also thinks the industry should get on...
Warner Bros Discovery expects big earnings hit amid strikes
Timothee Chalamet and Rebecca Ferguson star in Denis Villeneuve's remake of "Dune."Warner Bros.Warner Bros. Discovery is preparing investors for the effects of the writers' and actors' strikes if they continue through the end of this year.The company, in a Tuesday...
Hollywood sheds 17,000 jobs in August amid strikes
Actor Karen Brown walks the picket line with fellow SAG-AFTRA actors and Writers Guild of America writers in front of Paramount Studios in Los Angeles, July 17, 2023.Mike Blake | ReutersHollywood's labor pool is taking a hit as the dual strikes by actors and writers...
Why UAW strikes at GM, Ford, Stellantis seem inevitable
Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023.Michael Wayland / CNBCDETROIT – United Auto Workers President Shawn Fain appears ready to fire up the picket lines.The union's bulldog new...
FTC allows Amgen Horizon Therapeutics deal to move forward
The Amgen logo is displayed outside Amgen headquarters on May 17, 2023 in Thousand Oaks, California.Mario Tama | Getty ImagesThe Federal Trade Commission on Friday said it has reached a deal with drug giant Amgen to allow the company's $27.8 billion purchase of...
UAW files NLRB complaints against GM, Stellantis over contract talks
UAW President Shawn Fain addresses union members during a Solidarity Sunday rally in Warren, Michigan, Aug. 20, 2023Michael Wayland / CNBCDETROIT — United Auto Workers has filed unfair labor practice charges against automakers General Motors and Stellantis to the...
Walgreens CEO Roz Brewer steps down
Rosalind "Roz" BrewerJason Redmond | Afp | Getty ImagesWalgreens Boots Alliance said Friday that Roz Brewer had stepped down as the company's chief executive.She also left the company's board, effective Thursday. The decision was mutual, according to a news release....
Ozempic could face Medicare drug price negotiations next
A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023. George Frey | ReutersOzempic, the blockbuster diabetes treatment from Novo...
HHS wants to reclassify marijuana: What it means
A worker sets up Florist Farms cannabis products on the first day of legal recreational marijuana sales at the Housing Works Cannabis Co. in New York, on Thursday, Dec. 29, 2022.Jeenah Moon | Bloomberg | Getty ImagesThis week, the Department of Health and Human...
Barry Diller says studios should cut Netflix from strike talks
Barry DillerMike Newberg | CNBCBarry Diller is calling on the legacy Hollywood studios to end the dual writers and actors strikes, otherwise it'll be "catastrophic" to the industry.The media mogul, speaking on the podcast "On with Kara Swisher," said the strikes would...
Lululemon (LULU) earnings Q2 2023
A customer enters a Lululemon store on June 02, 2023 in Corte Madera, California.Justin Sullivan | Getty ImagesLululemon raised its full-year guidance Thursday after reporting an 18% jump in both sales and profit for its fiscal second quarter, boosted by a 61% revenue...
Taylor Swift concert film, new Exorcist open same day
Taylor Swift performs onstage during the Taylor Swift | The Eras Tour at Lumen Field on July 22, 2023 in Seattle, Washington. Mat Hayward/tas23 | Getty Images Entertainment | Getty ImagesMove over, Barbenheimer. This next big movie duo will make your head spin.A...
Polestar (PSNY) earnings Q2 2023
The Polestar 3 SUV, originally expected late this year, has been pushed into early 2024 because of delays with its Volvo-developed software.Courtesy: PolestarSwedish electric-vehicle maker Polestar on Thursday reiterated that it still expects to deliver at least...
Starbucks, Dunkin roll out pumpkin spice, fall menus early
Starbucks' iced pumpkin cream chai tea latte.Source: StarbucksIn most of the U.S., tree foliage is green and temperatures are warm. But for many restaurants and retailers, fall is already here.Halloween candy and pumpkin spice lattes used to wait until after Labor Day...
Shein faces scrutiny over forced labor before IPO
A woman with a Shein bag after entering its first physical store in Madrid, June 2, 2022.Europa Press News / ContributorFast-fashion juggernaut Shein is facing more scrutiny from elected officials in the U.S. who want the company to prove it doesn't use forced labor...
HHS calls for easing marijuana restrictions
James Romano trims flower while working in the CommCan processing facility in Medway, Massachusetts, Oct. 27, 2021.Erin Clark | Boston Globe | Getty ImagesThe U.S. Department of Health and Human Services has recommended reclassifying marijuana as a lower-risk drug,...
Medicare drug price negotiations may have muted impact on drugmakers
In this photo illustration, Eliquis is made available to customers at the New City Halsted Pharmacy on August 29, 2023 in Chicago, Illinois.Scott Olson | Getty ImagesMedicare is set to negotiate prices for 10 different drugs with manufacturers in a bid to make those...
Walmart tries to grow third party marketplace with Las Vegas event
Walmart is hosting its first seller summit businesses that are part of its third-party marketplace. The two-day event includes how-to sessions and remarks by the retailer's top leaders.Melissa Repko | CNBCLAS VEGAS — Walmart is looking for new ways to woo sellers to...
Jack Daniel’s maker Brown-Forman (BF.B) earnings Q1 2024
Jack Daniels Tennessee WhiskeyGetty ImagesJack Daniel's maker Brown-Forman on Wednesday fell short of Wall Street expectations for its first quarter of fiscal 2024, plagued by lagging whiskey sales, supply challenges and a significant inventory rebuild.Net sales for...
Warner Bros. Discovery names Mark Thompson CEO and chairman of CNN
Mark Thompson speaks during the CNBC Evolve New York event on June 19, 2019.Astrid Stawiarz | CNBCMark Thompson is stepping in as the next CEO and chairman of CNN.Parent company Warner Bros. Discovery said Wednesday it appointed Thompson as the next leader of the...
3M faces more legal headaches after earplug settlement
3M is on the verge of ending the largest mass tort litigation in U.S. history, but it's still facing other expensive legal headaches.The company said Tuesday that it settled with roughly 250,000 plaintiffs in a $6.01 billion deal. Military veterans and service members...
Oppenheimer shows Christopher Nolan’s box office dominance
Valerie Macon | Afp | Getty ImagesLOS ANGELES — Christopher Nolan's films, from "The Dark Knight" to "Inception," have been a force at the box office for a solid two decades.But "Oppenheimer," the director's R-rated historical drama about the man who spearheaded the...
Under Armour founder Kevin Plank used Stephanie Ruhle advice
Kevin Plank, now former CEO of Under Armour, during a CNBC interview on Mad Money on Feb. 28th, 2018.Scott Mlyn | CNBCUnder Armour's founder Kevin Plank forged an unusual relationship with television anchor Stephanie Ruhle that included trips on his private jet,...
Revenue rises in first half
Lego Star Wars toys sit on display inside a Toys R Us store in Paramus, New Jersey, Nov. 26, 2019.Bloomberg | Getty ImagesWhile other toy companies struggle with an inflation-fueled sales slump, Lego is building positive results brick by brick.The privately held...
Most used drugs on Medicare price negotiation list: See the top three
Bottles of the drug Jardiance, made by Eli Lilly and Company, sit on a counter at a pharmacy in Provo, Utah, January 9, 2020.George Frey | ReutersTwo blood thinners and a diabetes medication are the most widely used among a list of ten drugs that will be subject to...
Eminem demands Vivek Ramaswamy stop rapping Lose Yourself
Inductee Eminem performs on stage during the 37th Annual Rock & Roll Hall Of Fame Induction Ceremony at Microsoft Theater on November 05, 2022 in Los Angeles, California.Jeff Kravitz | Filmmagic, Inc | Getty ImagesRapper Eminem has demanded Vivek Ramaswamy stop...
Regional banks to be forced to raise debt in case of failure
Martin Gruenberg, Chair of the Federal Deposit Insurance Corporation (FDIC), testifies about recent bank failures during a US Senate Committee on Banking, House and Urban Affairs hearing on Capitol Hill in Washington, DC, May 18, 2023.Saul Loeb | AFP | Getty...
GM, Google exploring ways to use AI across automaker’s business
The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021.Rebecca Cook | ReutersDETROIT – General Motors is working with Google to explore opportunities to implement AI technologies across the automaker's business, the...
Nio earnings Q2 2023
Nio's ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China.Getty Images | Getty Images News | Getty ImagesChinese electric vehicle maker Nio lost $835.1 million in the second quarter, more than twice its year-ago loss as...
Best Buy (BBY) Q2 2024
A shopper pushes a cart with a TV in front of a Best Buy store in Chicago, Illinois, November 25, 2022.Jim Vondruska | ReutersBest Buy on Tuesday surpassed Wall Street's quarterly sales expectations, but tempered its outlook for the rest of the year as it feels the...
10 drugs to face Medicare price negotiations: See the list
Kubra Cavus | Istock | Getty ImagesThe Biden administration on Tuesday unveiled the first 10 prescription drugs that will be subject to price negotiations between manufacturers and Medicare, kicking off a controversial process that aims to make costly medications more...
Goldman Sachs sells small wealth unit to Creative Planning
David Solomon (centre), Chief Executive Officer of Goldman Sachs during an event attended by Prime Minister Rishi Sunak at the Business Roundtable during his visit to Washington DC in the US on June 8, 2023 in Washington, DC.Niall Carson | WPA Pool | Getty...
Avon owner Natura & Co considers sale of The Body Shop
Roberto Machado Noa | LightRocket | Getty ImagesBrazilian beauty conglomerate Natura & Co is considering a sale of The Body Shop after the skincare and cosmetics line saw another quarter of declining sales, according to a Monday securities filing.Natura & Co,...
SpaceX launches Crew-7 astronaut mission for NASA
SpaceX's Falcon 9 rocket with the company's Crew Dragon spacecraft on top is seen after sunset at Launch Complex 39A ahead of the launch of the Crew-7 mission.Joel Kowsky / NASASpaceX launched four people to the International Space Station from Florida as Elon...
Flights disrupted across UK as air traffic control reports a ‘technical issue’
Virgin Atlantic Airways Airbus A350-1000 aircraft seen taxiing in front of the air traffic control tower at London Heathrow airport in U.K.Nurphoto | Nurphoto | Getty ImagesThe U.K.'s air traffic control provider reported a technical issue Monday which saw flights...
IHOP biscuits menu available nationwide for first time
IHOP's new lineup of biscuit sandwiches.Source: IHOPFor the first time ever, IHOP is making its biscuits menu available nationwide.The Dine Brands chain, best known for its pancakes, has been branching out into different categories, from burritos to savory crepes,...
Four trends shaping the gun industry
People fire an assortment of guns at the annual Machine Gun Shoot sponsored by Shooters Gauntlet on June 03, 2023 in Monroe, Pennsylvania. The shoot, which has been held since 2016, lets gun enthusiast and others shoot machine guns at targets in a controlled and...
Labor unions are pushing hard for better pay and hours — and winning
Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023.Michael Wayland / CNBCFrom writers' rooms to car factories, workers are pressing companies for higher pay and better quality of life. Many are...
ADHD drug market faces back-to-school supply strain
Ten milligram tablets of the hyperactivity drug, Adderall, made by Shire Plc.Jb Reed | Bloomberg | Getty ImagesIt's been 10 months since the Food and Drug Administration first announced a nationwide shortage of Adderall — one of the most widely used medications for...
Major League Pickleball and PPA merger in jeopardy
Season One Super Finals at the Life Time Rancho San Clemente in San Clemente, California. The Seattle Pioneers play the Los Angeles Mad Drops in the Premier League mixed doubles competition.Source: Major League PickleballThere's trouble in pickleball paradise.The...
Wegovy helps reduce heart failure symptoms in obese people: Study
A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, March 31, 2023.Jim Vondruska | ReutersWegovy, the popular weight loss drug from Novo Nordisk, significantly reduced symptoms of a common type of...
Workers overwhelmingly vote to authorize work stoppage
Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors' Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit.Michael Wayland / CNBCDETROIT – United Auto Workers members overwhelmingly granted...
GM’s Ultium agrees to increase EV battery worker pay by 25% on average
General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan.Photo by Steve Fecht for General MotorsDETROIT — General Motors' Ultium Cells has agreed to increase worker pay at its...
Part Two’ departs 2023 movie calendar amid Hollywood strikes
Timothee Chalamet stars in Warner Bros.' "Dune."Warner Bros."Dune: Part Two" has departed the 2023 box office slate amid dual Hollywood labor strikes that threaten its ability to market to the public.On Thursday, Warner Bros. Discovery and Legendary Entertainment...
CDC expects new shots to be available in mid September
A sign advertises COVID-19 (coronavirus) vaccine shots at a Walgreens Pharmacy in Somerville, Massachusetts, August 14, 2023.Brian Snyder | ReutersThe Centers for Disease Control and Prevention expects updated Covid vaccines from Pfizer, Moderna and Novavax to be...
Viasat’s Inmarsat I6 F2 satellite suffers power failure
An artist's rendering of an I6 satellite in orbit.InmarsatA second Viasat communications satellite is malfunctioning in orbit, this time from the fleet of recently acquired U.K.-based Inmarsat, the company said on Thursday.The I6 F2 satellite, which Inmarsat launched...
Gap (GPS) earnings Q2 2023
Pedestrians walk past Old Navy and GAP stores in Times Square, New York City.Drew Angerer | Getty ImagesGap reported mixed results on Thursday and underwhelming current-quarter guidance as the longtime mall retailer warned of an "uncertain consumer" and posted another...
DOJ sues SpaceX alleging hiring discrimination
A Falcon 9 rocket is displayed outside the Space Exploration Technologies Corp. (SpaceX) headquarters on January 28, 2021 in Hawthorne, California.Patrick T. Fallon | AFP | Getty ImagesThe U.S. Department of Justice sued SpaceX on Thursday, alleging Elon Musk's space...
Barbie is highest-grossing domestic film release in 2023
A scene from "Barbie."Courtesy: Warner Bros.It's a "Barbie" world — or at least North America.The collaboration among director Greta Gerwig, Mattel and Warner Bros. Discovery topped $575.4 million at the domestic box office Wednesday, making it the highest-grossing...
Lionel Messi boosts MLS, but soccer league needs more
Lionel Messi after scoring against FC Dallas at Toyota Stadium on August 06, 2023 in Frisco, Texas.Logan Riely | Getty ImagesSuperstar Lionel Messi has only played fewer than 10 games in the U.S. men's professional soccer league and he's having never-before-seen...
DOJ sues SpaceX for hiring discrimination against refugees
A Falcon 9 rocket is displayed outside the Space Exploration Technologies Corp. (SpaceX) headquarters on January 28, 2021 in Hawthorne, California.Patrick T. Fallon | AFP | Getty ImagesThe U.S. Department of Justice sued SpaceX on Thursday, alleging Elon Musk's space...
Dollar Tree (DLTR) earnings Q2 2023
Shares of Dollar Tree fell on Thursday and hit a 52-week low, after the retailer said customers' shopping lists have largely narrowed to food and necessities.The discounter joins a growing group of retailers catering to consumers who have become more price-sensitive...
Shein strikes deal with Forever 21 in fast fashion business
A Shein App is shown in the iOS App Store in Bargteheide, Germany, May 3, 2021.Defodi Images | Defodi Images | Getty ImagesFast-fashion competitors Shein and Forever 21 have joined forces.On Thursday, the retailers announced a deal that will bring together two brands...
Boeing says a new 737 Max flaw will slow airplane deliveries
A person with an umbrella walks by a Boeing 737 Max fuselage parked outside the company's production facility in Renton, Washington, January 10, 2020.Lindsey Wasson | ReutersBoeing said a new manufacturing flaw on its 737 Max will delay deliveries of its best-selling...
Subway sells itself to Dunkin’ owner Roark Capital
In this photo illustration, a Subway meal is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas.Brandon Bell | Getty ImagesRoark Capital is buying Subway, ending the sandwich chain's more than five decades of family ownership and marking a new...
CVS Health, Sandoz partner on discount Humira biosimilar
Rafael Henrique | Lightrocket | Getty ImagesCVS Health is partnering with drugmaker Sandoz to produce a near identical version of the blockbuster arthritis treatment Humira that will sell for 80% below the price of the brand-named drug.The move is part of the...
India Chandrayaan-3 moon landing came at low cost
The shadow of the Chandrayaan-3 spacecraft is seen on the moon's surface.ISROThe list is grim reading: Stuck, failed, missed, failed, failed, stuck, failed, crashed, missed, crashed, crashed.Those were the fate of the Soviet Union's first 11 attempts before...
Why is Nike’s stock down? Foot Locker woes, China slowdown hit shares
People walk past a Nike sporting goods store at a shopping complex in Beijing, China, March 25, 2021.Florence Lo | ReutersNike's stock tumbled Wednesday for the 10th day in a row after Foot Locker reported dismal quarterly results and consumers continue to pull back...
Juul to cut nearly a third of workforce
Juul Labs signage is seen in the window of a store in San Francisco, June 25, 2019.David Paul Morris | Bloomberg | Getty ImagesJuul Labs said Wednesday it's planning to cut about 30% of its workforce as it looks to cut costs and boost profits.The layoffs will affect...
Mortgage demand from homebuyers drops to a 28-year low as interest rates soar
Homes in Centreville, Maryland, US, on Tuesday, April 4, 2023.Nathan Howard | Bloomberg | Getty ImagesMortgage rates jumped last week to the highest level in 23 years, pushing mortgage demand from homebuyers to the lowest level in 28 years.Total mortgage application...
Starbucks iced pumpkin cream chai latte added to fall menu
Starbucks' new fall drink, the iced pumpkin cream chai latte.Source: StarbucksAs Starbucks celebrates the 20th anniversary of its pumpkin spice latte, the coffee chain is adding a third pumpkin drink to its fall menu.Starting Thursday, the iced pumpkin cream chai...
AMPTP reveals latest WGA contract offer, taking talks public
Members of the Writers Guild of America (WGA) and the Screen Actors Guild walk the picket line outside of Netflix in Hollywood, California, on August 9, 2023.Frederic J. Brown | AFP | Getty ImagesHollywood producers are taking their latest contract proposal public as...
Peloton (PTON) earnings Q4 2023
The exterior of a Peloton store is seen on February 05, 2022 in Dusseldorf, Germany. Jeremy Moeller | Getty ImagesPeloton on Wednesday reported a wider-than-expected loss and a quarterly drop in new subscribers that it blamed on its recall of its Bike seat post and...
India Chandrayaan-3 lunar mission lands on moon’s south pole
India staked new claim as a national superpower in space, landing its Chandrayaan-3 mission safely on the moon's unexplored south pole on Wednesday.The Chandrayaan-3 spacecraft launched last month and touch downed on the lunar surface around 8:34 a.m. ET.The feat...
Abercrombie & Fitch (ANF) earnings Q2 2023
An Abercrombie & Fitch store in San Francisco.Getty ImagesShares of Abercrombie & Fitch soared in premarket trading, after the retailer crushed Wall Street's earnings and sales expectations for the quarter and raised its forecast for the year.Here's how the...
Foot Locker (FL) earnings Q2 2023
Pedestrians walk past a Foot Locker store in New York.Michael Nagle | Bloomberg | Getty ImagesFoot Locker reported another quarter of falling sales and slashed its outlook for the second time this year on Wednesday as inflation-weary consumers think twice before...
Altria Group sues Juul over e-vapor patent infringement
A pedestrian walks by an advertisement for Juul on the door of a smoke shop in New York.Scott Mlyn | CNBCMarlboro maker Altria Group said Tuesday its subsidiary NJOY has sued Juul Labs — the e-cigarette company it once held significant stake in — over patent...
UPS workers approve new labor contract with big raises
David Paul Morris | Bloomberg | Getty ImagesUPS workers ratified a massive five-year labor deal that includes big wage increases and other improvements to work rules and schedules, the International Brotherhood of Teamsters said Tuesday.The deal passed with 86.3% of...
Macy’s to open more smaller strip mall stores
NEW YORK, NEW YORK - AUGUST 21: Macy's Herald Square store is shown on August 21, 2023 in New York City. Macy's, Inc. is likely to register both top and bottom-line declines from the respective year-ago in its second-quarter results on August 22. (Photo by Eduardo...
AMC shares crater as investors brace for stock conversion
An AMC Theatre on March 29, 2023 in New York City.Leonardo Munoz | Corbis News | Getty ImagesAMC Entertainment shares plummeted more than 20% Tuesday, slipping to a new 52-week low of $2.46 per share, as investors brace for a stock conversion later this week.On...
UAW strike cost estimated at $5 billion in 10 days
United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit with Sen. Bernie Sanders, of Vermont, far left, Sept. 25, 2019.Michael Wayland | CNBCDETROIT – If the United Auto Workers union decides to strike against...
Novavax says vaccine effective against Eris variant
A woman holds a small bottle labeled with a "Coronavirus COVID-19 Vaccine" sticker and a medical syringe in front of displayed Novavax logo in this illustration taken, October 30, 2020.Dado Ruvic | ReutersNovavax's new Covid vaccine generated a broad immune response...
Home sales drop again in July, as supply drops again
A house is for sale in Arlington, Virginia, July 13, 2023. Saul Loeb | AFP | Getty ImagesSales of previously owned homes dropped 2.2% in July from June to a seasonally-adjusted, annualized rate of 4.07 million units, according to the National Association of Realtors....
Ferrari CEO Benedetto Vigna says a third of new buyers are under 40
Despite a waiting list of three years for some of its cars, Ferrari's CEO said the company has no plans to supercharge production to meet demand."We are a brand that is not looking for volume," Ferrari CEO Benedetto Vigna told CNBC in an exclusive interview from...
Recalled products still for sale on Facebook Marketplace: lawmakers
Recalled baby products linked to more than 100 infant deaths are still widely sold on Facebook Marketplace despite thousands of requests from federal regulators to take down the items, four members of Congress said.In a letter sent Friday to Meta CEO Mark Zuckerberg,...
Dick’s Sporting Goods (DKS) earnings Q2 2023
Dick's Sporting Goods reported a 23% drop in profits and slashed its earnings guidance for the year after it saw an uptick in retail theft and slow sales in its outdoor category, the company announced on Tuesday. In a rare miss for the athletic apparel retailer,...
Macy’s (M) earnings Q2 2023
Macy's store in Herald Square in New York.Scott Mlyn | CNBCMacy's on Tuesday topped Wall Street's quarterly sales expectations, even as it struck a cautious note about consumer spending for the back half of the year. The department store operator stood by its...
Lowe’s (LOW) earnings Q2 2023
The Lowe's logo is displayed on the front of the store near Bloomsburg.Paul Weaver | Lightrocket | Getty ImagesLowe's reported mixed fiscal second-quarter results on Tuesday, as consumers tackled springtime projects and helped offset weakening home improvement...
Part Two move to 2024?
Timothee Chalamet stars in Warner Bros.' "Dune."Warner Bros.LOS ANGELES – Warner Bros. has a sandworm-sized dilemma on its hands: Keep the fall release date for its highly anticipated "Dune: Part Two" and risk not having its star-studded cast promote it – or bump it...
Weight-loss drugs cost more in U.S. than other countries, KFF says
A box of the diabetes drug Ozempic rests on a pharmacy counter in Los Angeles, April 17, 2023.Mario Tama | Getty ImagesBlockbuster weight-loss drugs are priced significantly higher in the U.S. than in other large, high-income countries, according to a new analysis...
Pebble Beach Monterey Car Week: Most expensive cars sold
A 1962 Ferrari 250 GT SWB Coupe sold at auction at the 2023 Monterey Car Week.Credit: Gooding & CompanyA $30 million Ferrari led the parade of trophy cars sold during Monterey Car Week last week, although the classic-car market showed further signs of...
FDA approves Pfizer maternal vaccine for infants
CFOTO | Future Publishing | Getty ImagesThe Food and Drug Administration on Monday approved a vaccine from Pfizer that protects infants from respiratory syncytial virus, the leading cause of hospitalization among babies in the U.S.Pfizer's RSV shot is already approved...
Teva, Glenmark enter deferred prosecution deal DOJ over price fixing
Boxes of tablets produced by Teva Pharmaceutical Industries.Chris Ratcliffe | Bloomberg | Getty ImagesDrugmaker Teva Pharmaceuticals agreed to pay $225 million in criminal fines to resolve charges related to price fixing three medications, including a generic...
Covid vaccine stocks jump as new variants emerge
Nikos Pekiaridis | Lightrocket | Getty ImagesCovid vaccine makers' shares rose Monday as new variants of the virus emerge in the U.S. ahead of the rollout of updated shots this fall.Shares of Novavax jumped more than 13%. Moderna's stock rose more than 9%. Shares of...
Tilray cannabis buys brands from Molson Coors, Anheuser-Busch
Dry cannabis flowers inside the packaging room at the Aphria Inc. Diamond facility in Leamington, Ontario, Canada, on Wednesday, Jan. 13, 2021.Anne Sakkab | Bloomberg | Getty ImagesTilray Brands is expanding its footprint in alcoholic and cannabis beverages, buying up...
American Airlines pilots approve labor deal with big raises
An American Airlines plane takes off from the Miami International Airport on May 02, 2023 in Miami, Florida. Joe Raedle | Getty ImagesAmerican Airlines pilots approved a sweetened labor deal, making the carrier the second major U.S. airline to seal a new contract with...
Weight loss drugs boost retail pharmacy sales
A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023. George Frey | ReutersDrugmakers aren't the only ones feeling the impact of the...
Mortgage rates hit highest point since 2000
Ryan Ratliff (C), Real Estate Sales Associate with Re/Max Advance Realty, shows Ryan Paredes (L) and Ariadna Paredes a home for sale on April 20, 2023 in Cutler Bay, Florida. Joe Raedle | Getty ImagesMortgage rates jumped Monday, following a rise in bond yields driven...
Pentagon awards $1.5 billion to Lockheed Martin, Northrop Grumman
An artist illustration shows the functions of SDA's satellite constellation.Space Development AgencyThe Pentagon's Space Development Agency on Monday awarded $1.5 billion in contracts to Lockheed Martin and Northrop Grumman for prototype communications satellites.SDA...
Moderna Covid vaccine effective against Eris, Fornax variants
Nikos Pekiaridis | Lightrocket | Getty ImagesModerna's new Covid vaccine generated a robust immune response against the now-dominant Eris variant and another rapidly spreading strain of the virus in an early clinical trial, the biotech company said Thursday. The...
Stellantis has discussed moving some truck assembly to Mexico, UAW says
UAW Vice President Rich Boyer addresses union members during a "Solidarity Sunday" rally on Aug. 20, 2023 in Warren, Mich.Michael Wayland / CNBCWARREN, Mich. – Automaker Stellantis has threatened to move production of the current Ram 1500 pickup truck from a factory...
Axiom Space raises $350 million from Saudi and Korean investors
Chief Engineer Jim Stein wears the new spacesuit during the Axiom Space Artemis III Lunar Spacesuit event at Space Center Houston in Houston, Texas, on March 15, 2023. - "Since a spacesuit worn on the Moon must be white to reflect heat and protect astronauts from...
Redwire, Sierra partner to make drugs on inflatable space habitat
An ADSEP with blue PIL-BOXs, hardware which will be delivered to Sierra Space for the LIFE habitat pathfinder mission.RedwireSpace infrastructure company Redwire is putting a biotech technology testbed on Sierra Space's first mission with its inflatable space habitat,...
Walmart and Target earnings and outlook: Key trends for retailers
A customer pushes a shopping cart full of groceries outside a Wal-Mart in Rogers, Arkansas, left, and a pedestrian passes a Target store in the Tenleytown neighborhood of Washington, D.C.Getty ImagesTarget and Walmart are both catering to thriftier shoppers, but the...
New vaccines will likely protect against Eris variant
A pharmacist prepares to administer Covid-19 vaccine booster shots during an event hosted by the Chicago Department of Public Health at the Southwest Senior Center in Chicago, Illinois, Sept. 9, 2022.Scott Olson | Getty ImagesNew Covid vaccines from Pfizer, Moderna...
Innoviz, Luminar, Ouster emerge as likely winners in lidar shakeout
A Hesai lidar sensor on top of a vehicle in Shenzhen, China, July 10, 2022.Jade Gao | AFP | Getty ImagesFor investors in lidar startups, this has been a long time coming.After years of talk — and a SPAC boom in the sensor sector — automakers have finally started...
Barbie vs Blue Beetle box office showdown
Xolo Mariduena stars ase Jaime Reyes in Warner Bros.' "Blue Beetle."Warner Bros. DiscoveryIt's pink vs. blue at the box office this weekend.As "Barbie" continues a historic run in theaters, a little-known superhero called "Blue Beetle" is looking to take the top spot...
What UAW negotiations could cost GM, Ford and Stellantis
United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019.Michael Wayland / CNBCDETROIT — The Oracle of Omaha is cutting exposure to the U.S. automotive industry amid union negotiations —...
McDonald’s, Chipotle among restaurant earnings winners and losers
A McDonald's restaurant near Times Square, NYC on July 29th, 2023. Adam Jeffery | CNBCRestaurant companies navigating some of the same challenges in the second quarter fell into two categories: winners and losers.Some chains said their higher menu prices alienated...
Outback Steakhouse owner’s stock rises as activist buys stake
An Outback Steakhouse truck sits parked outside a restaurant in New York.Daniel Acker | Bloomberg | Getty ImagesShares of Outback Steakhouse owner Bloomin' Brands rose 8.7% Friday after an activist investor disclosed its interest in the restaurant company.Starboard...
Why the German grocer is expanding in the U.S.
No-frills discounter Aldi is the latest grocer to shake up the industry with big moves.The German retailer announced this week that it plans to acquire about 400 Winn-Dixie and Harveys Supermarket locations across the Southern U.S. As part of the deal, it would take...
