What retail apocalypse? Online home goods retailer Wayfair is opening its first namesake store, near Chicago, following a string of other digitally native companies that have turned to brick-and-mortar for growth. In an ironic twist for a …
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Business
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Passing major milestones such as the 40,000 barrier the Dow Jones Industrial Average eclipsed this week makes for a nice headline, but market experts do not take much else from the move. What really matters …
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Business
UAW loses Alabama union vote seen as bellwether for organizing autoworkers in the South
by adminWorkers at two Mercedes-Benz factories in Alabama have voted against joining the United Auto Workers, the largest autoworkers union in the U.S., a blow to an effort to strengthen the presence of organized labor in …
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As part of Tesla’s massive restructuring, the electric-vehicle maker notified the California Employment Development Department this week that it’s cutting approximately 600 more employees at its manufacturing facilities and engineering offices between Fremont and Palo Alto. The …
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The Dow Jones Industrial Average reached a milestone Thursday that seemed unfathomable a year ago. A trader at the New York Stock Exchange on Thursday, May 16, 2024, as the DOW reached 40,000.Courtney Crow / NYSE The …
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Business
The Mirage casino, which ushered in an era of Las Vegas Strip megaresorts in the ’90s, is closing
by adminLAS VEGAS — The iconic Mirage hotel-casino on the Las Vegas Strip will shut its doors this summer, the end of an era for a property credited with helping transform Sin City into an ultra-luxury …
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Business
Rent up, groceries down: Inflation cooled slightly in April, but consumers still face a mixed bag
by adminThe consumer price index, the most-watched inflation measurement put out by the U.S. government, declined slightly to 3.4% on a 12-month basis in April as price growth in the economy remained elevated. Compared with March, …
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Business
Under Armour is laying off workers as retailer says North America sales will plunge this year
by adminUnder Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel …
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Forget the drive-thru. Walmart wants diners to find a value meal in its grocery aisles. As fast food gets pricier, the nation’s largest grocer sees a sales opportunity. On a call with CNBC on Thursday, Walmart Chief …
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Business
Netflix ad-supported tier has 40 million monthly users, nearly double previous count
by adminNetflix’s cheaper, ad-supported tier has amassed 40 million global monthly active users, the company said Wednesday. That’s nearly double the 23 million figure the streaming giant shared in January. Separately, Netflix announced it would launch …