General Motors CEO and Chair Mary Barra has made it clear that she has no intentions of retiring anytime soon. Despite speculation about her future with the company, Barra emphasized that she is fully committed to ensuring GM’s transformation is headed in the right direction. With over 10 years at the helm, Barra’s leadership has
Business
The Consumer Financial Protection Bureau (CFPB) recently made a significant announcement regarding the buy now, pay later (BNPL) industry. The agency declared that customers utilizing BNPL services are now entitled to the same federal protections as those using traditional credit cards. This decision was made through an “interpretive rule” issued by the CFPB, which brings
Lowe’s recently reported its quarterly earnings, surpassing Wall Street’s expectations. Despite a decrease in sales of pricey items within the do-it-yourself category, the home improvement retailer managed to outperform Home Depot in terms of revenue. Home Depot, on the other hand, fell short of revenue expectations due to challenges in the housing market and a
Red Lobster, a beloved seafood chain, has recently filed for Chapter 11 bankruptcy protection as part of its efforts to downsize and attract potential buyers. This decision comes as no surprise considering the company’s substantial debt and struggles with long-term leases. The company has already closed a significant number of underperforming locations and is looking
In the past year, media giants have heavily relied on sports content to attract advertisers during the Upfronts meetings. This strategy became even more pronounced due to factors such as a Hollywood strike and cost-cutting measures that impacted their ability to showcase scripted shows and star-studded content. The aftermath of the previous year’s work pause
The recent vote by Mercedes-Benz workers in Alabama against union representation by the United Auto Workers came as a disappointment to the UAW amidst its organizing efforts. The NLRB oversaw the election which resulted in 56% of the vote, or 2,642 workers, against the UAW. Despite more than 90% of eligible workers participating in the
Walmart exceeded expectations for both quarterly earnings and revenue in its recent financial report. The company showcased significant growth in its e-commerce sector, along with profitable ventures in newer businesses like advertising. These successes have also contributed to attracting more high-income shoppers to Walmart’s stores and online platforms. Chief Financial Officer John David Rainey highlighted
Netflix made a significant announcement on Wednesday, revealing that its cheaper, ad-supported tier has seen an impressive surge in global monthly active users. The number skyrocketed to 40 million, nearly doubling from the 23 million reported earlier this year. This remarkable growth underscores the increasing popularity of the ad-supported model among viewers. Launch of an
AMC Entertainment, alongside GameStop, experienced a surge in its stock price after Keith Gill, also known as “Roaring Kitty,” posted online for the first time in nearly three years. This sudden surge has caused AMC shares to more than double in value since Friday’s close, reaching above $6 in afternoon trading on Tuesday. Despite the
Novavax experienced a momentous 50% surge in its shares on Monday in response to its new multibillion-dollar agreement with French pharmaceutical giant Sanofi. This monumental deal has breathed new life into the struggling vaccine manufacturer, with its stock nearly doubling in value just two days prior, following the announcement of the licensing agreement with Sanofi.