The governors of New York and California announced sweeping plans to crack down on retail crime this week, as trade associations and police departments lobby for government action to curb theft. The plans include new legislation designed to increase the penalties for retail crime offenses and more funding for police departments and district attorney’s offices … Read more
A plastic sheet covers an area of the fuselage of the Alaska Airlines N704AL Boeing 737 MAX 9 aircraft outside a hangar at Portland International Airport on January 8, 2024 in Portland, Oregon. Mathieu Lewis-rolland | Getty Images The Federal Aviation Administration on Thursday said it has informed Boeing it’s investigating whether the company failed … Read more
The Google headquarters in Mountain View, California, Jan. 30, 2023. Marlena Sloss | Bloomberg | Getty Images Google cut several hundred jobs across the company late Wednesday night as it continues to push for efficiency and focus on its “biggest product priorities,” a spokesperson confirmed to CNBC. The layoffs will impact employees within Google’s hardware … Read more
Sperry Top-Sider Bill fish Tan and Beige. Mayra Beltran | Houston Chronicle | Getty Images Wolverine World Wide has sold Sperry to brand management firm Authentic Brands Group and Canadian retailer the Aldo Group, the company announced Thursday. The deal will generate $130 million, which Wolverine plans to use to pay down debt, it said. … Read more
Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023. Mike Blake | Reuters Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank’s reorganization came in far higher than disclosed by the company’s CFO just … Read more
SpaceX founder Elon Musk and T-Mobile CEO Mike Sievert on stage during a T-Mobile and SpaceX joint event on August 25, 2022 in Boca Chica Beach, Texas. Michael Gonzalez | Getty Images SpaceX successfully sent text messages via Starlink satellites using T-Mobile’s network, it announced Wednesday, as Elon Musk’s company aims bring its direct-to-device cell … Read more
The global supply chain is feeling the fallout from Iran-backed Houthi rebels attacking vessels in the Red Sea. Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. Vessels aren’t able to come back to Asia in time, and ocean carriers are canceling sailings on … Read more
Screenshot of the TheMessenger website. Source: TheMessenger The Messenger, the struggling news media startup co-founded by publishing veteran Jimmy Finkelstein, is urging potential investors to make a long-shot bet on a dramatic rebound in advertising this year. The company is attempting to stop the cash burn that has put it in jeopardy. CNBC has obtained … Read more
People carry shopping bags as they visit a department store during the holiday season in New York City. Eduardo Munoz | Reuters Retailers chalked up solid gains in the final month to wrap up the holiday season, according to the CNBC/NRF Retail Monitor for December. However, the data also shows the true state of consumer … Read more
Shoppers enter and exit the Neiman Marcus at the King of Prussia Mall in King of Prussia, Pennsylvania, on Dec. 8, 2018. Mark Makela | Reuters ORLANDO, Fla. — As rumors swirl over whether Saks Fifth Avenue will acquire Neiman Marcus, Neiman’s CEO told CNBC there’s “no need” to sell the business, adding it’s unlikely … Read more
