Arkhouse has the financing in place to take Macy’s private at a bid of $5.8 billion, managing partner Gavriel Kahane told CNBC Thursday, but the activist investor has run into roadblocks without the department store retailer’s cooperation on due diligence. “At this stage, based on public information, there isn’t a bank in the world that … Read more
Intel shares dropped in extended trading on Thursday after the chipmaker issued an outlook for the first quarter of 2024 that lagged analyst forecasts even as results for the latest quarter beat Wall Street estimates. Here’s how Intel did versus LSEG (formerly Refinitiv) consensus expectations for the quarter ended in December: Earnings per share: 54 … Read more
Jeans are displayed at a Levi Strauss store in New York, March 19, 2019. Shannon Stapleton | Reuters Levi Strauss will lay off at least 10% of its global corporate workforce as part of a restructuring, the apparel retailer said Thursday as it said it expected weaker sales this year. The job cuts will take … Read more
MONTPELIER, Vt. — Walgreens has agreed to pay a $275,000 fine to settle allegations that some of its Vermont stores temporarily closed without notice, had untenable working conditions for pharmacists and made medication and vaccination errors during the coronavirus pandemic, the secretary of state announced. The Vermont Board of Pharmacy approved the fine as part … Read more
Sundar Pichai, chief executive officer of Alphabet Inc. Bloomberg | Bloomberg | Getty Images Alphabet shares climbed to a record on Thursday, joining Microsoft and Meta, which have continued to rally since reaching fresh all-time highs earlier this month. Shares of Alphabet rose 2.1% to close at $151.87. Microsoft rose 0.6% to $404.87, closing with … Read more
Michelle Gass, chief executive officer of Kohls Corp., stands for a photograph at the National Retail Federation Inc. (NRF) annual Honors in New York, U.S., on Sunday, Jan. 12, 2020. Bess Adler | Bloomberg | Getty Images Turnover in C-suites spiked across industries last year — and in retail in particular. Next week, new CEOs … Read more
Vince McMahon attends a press conference at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. Michael N. Todaro | Getty Images WWE boss Vince McMahon was accused Thursday of sexual assault, trafficking, and physical and emotional abuse in a graphic lawsuit by a woman who previously worked for the pro wrestling giant. … Read more
Chevrolet Cruise autonomous vehicles sit parked in a lot on June 08, 2023 in San Francisco, California. Justin Sullivan | Getty Images News | Getty Images Culture issues, ineptitude and poor leadership at General Motors’ Cruise autonomous vehicle unit were at the center of regulatory oversights and coverup concerns that have plagued the company since … Read more
Honda is finally one step closing in bringing its newest EV, the Prologue, to market. Now we finally have a full breakdown of its pricing. Including a $1,395 destination charge, the 2024 Honda Prologue will start at $48,795. The 2024 Honda Prologue Is Honda’s First Electric SUV This price is unique for a couple of … Read more
HARTFORD, Conn. — Mislabeled cookies containing peanuts that were sold at Stew Leonard’s grocery stores in Connecticut were recalled this week after the death of a woman from New York City. Stew Leonard’s announced Tuesday that Vanilla Florentine Cookies sold in its stores in Danbury and Newington from Nov. 6 to Dec. 31 were being … Read more
