DETROIT — The United Auto Workers union is challenging the results of last week’s organizing vote of Mercedes-Benz workers in Alabama, in which workers voted against union representation, and is asking federal officials to order a new election. Among …
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Business
Nvidia CEO Jensen Huang’s net worth swells from $3 billion to $90 billion in five years
by adminFive years ago, Nvidia CEO Jensen Huang owned a stake in his chipmaker worth roughly $3 billion. After Thursday’s rally, which pushed the stock to a record, his holdings now stand at more than $90 billion. Nvidia …
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The next frontier for the ad market isn’t on TV — it’s at screens near points of sale. Television had long been the key target for advertisers, until tech companies such as Alphabet and Meta-owned platforms like Facebook …
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Business
It wasn’t the endless shrimp that pinched Red Lobster. How private equity rolled the seafood chain.
by adminAngry that your favorite Red Lobster closed down? Wall Street wizardry had a lot to do with it. Red Lobster was America’s largest casual dining operation, serving 64 million customers a year in almost 600 …
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Palm Beach housekeepers are making $150,000 a year due to massive demand from the wealthy
by adminA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. Housekeepers …
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Business
Dow falls 600 points in worst day of 2024 as Nvidia’s blockbuster earnings fail to lift broader market
by adminStocks fell Thursday, with the Dow Jones Industrial Average registering its worst day of 2024, as a post-earnings rally in Nvidia failed to lift the broader market. The 30-stock Dow slid 605.78 points, or 1.53% for its worst …
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Business
‘It is time to break up Live Nation’: DOJ sues Ticketmaster parent over alleged monopoly
by adminThe Justice Department filed a lawsuit Thursday seeking to break up Live Nation, the parent company of Ticketmaster, alleging it has hurt consumers and violated antitrust laws by exercising outsize control over the live events …
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Business
Target, McDonald’s and others are offering value as they lose ground with bargain hunters
by adminTarget’s weak quarterly earnings underscored why it cut prices on thousands of household staples: it’s struggling to win over bargain hunters. The discounter is not alone. Target’s first-quarter results on Wednesday not only show American consumers are more …
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More than half of Americans think that the United States is in an economic recession, although gross domestic product has been increasing for the past several years. According to a new Guardian/Harris poll, 56% of respondents said they believe the U.S. is …
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The 1986 Air Carrier Access Act requires airlines to provide a wheelchair to passengers with disabilities at the airport. The problem: Many travelers are faking it, Frontier Airlines CEO Barry Biffle says. “There is massive, rampant abuse …