World News
Campbell’s fires executive accused of racist remarks and labeling food for ‘poor people’
Campbell’s has fired an executive accused of making racist comments and mocking its products and customers, the company announced on Wednesday. The termination follows a lawsuit filed in Michigan by former employee Robert Garza against Campbell’s, the company’s then-vice president of information technology Martin Bally and another manager. The complaint…
Read More »Bitcoin and other crypto assets sink in flight from risk
Bitcoin and ether slumped to multi-month lows on Friday, with cryptocurrencies swept up in a broader flight from riskier assets as investors worried about lofty tech valuations and bets on near-term U.S. interest rate cuts faded. Bitcoin, the world’s largest cryptocurrency, fell 5.5% to a seven-month low of $81,668. Ether…
Read More »Stock market sinks as AI and interest rate worries grip investors
What began as a banner day for stocks turned into a major rout, as investors signaled ongoing skepticism about the longevity of the artificial intelligence boom and trimmed hopes of support from the Federal Reserve. The tech-heavy Nasdaq fell 2%, and the broad S&P 500 index dropped by more than…
Read More »U.S. added 119,000 jobs in September, but there are signs of a weakening labor market
The United States added 119,000 jobs in September, a stronger-than-expected figure and a sign that the economy was adding jobs at a healthy clip before government shutdown. But the details of the report from the Bureau of Labor Statistics paint a more mixed picture, that of a labor market that…
Read More »Bargain hunters drive Walmart sales and outlook higher
Shoppers are still flocking to Walmart. The company raised its full-year earnings and sales outlook Thursday, heading into the crucial holiday shopping season. Walmart also offered fresh signs that it is shedding its original identity as a strictly down-market brick-and-mortar operation by growing its e-commerce business and increasing its market…
Read More »What AI bubble? Nvidia’s strong earnings signal there’s more room to grow
U.S. stock markets were poised for lift off Thursday, after a strong earnings report from computer chip giant Nvidia signaled that there is still plenty of room to run in the artificial intelligence boom that has powered markets higher for much of the year. Prior to the opening bell, bets…
Read More »Longtime Walmart CEO to step down in January
Walmart announced Friday that longtime CEO Doug McMillon will retire at the end of January — which came as a surprise to some given the company’s success in a rapidly evolving retail landscape. John Furner, Walmart’s U.S. CEO, will assume the role of overall CEO on Feb. 1, the company…
Read More »More than 1,000 Starbucks workers strike at 65 stores on Red Cup Day
More than 1,000 unionized Starbucks workers went on strike at 65 U.S. stores Thursday to protest a lack of progress in labor negotiations with the company. The strike was intended to disrupt Starbucks’ Red Cup Day, which is typically one of the company’s busiest days of the year. Since 2018,…
Read More »October monthly job cuts surged to a 22-year high
U.S.-based companies announced more than 153,000 job cuts in October, the research firm Challenger, Gray & Christmas reported Thursday. “This is the highest total for October in over 20 years, and the highest total for a single month in the fourth quarter since 2008,’ the firm said in a news…
Read More »Yum Brands begins strategic review for struggling Pizza Hut chain
Yum Brands said on Tuesday it was exploring strategic options for its Pizza Hut chain as the unit struggles to keep pace in a highly competitive fast-food industry vying for sales from a stressed consumer. “Pizza Hut‘s performance indicates the need to take additional action to help the brand realize…
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Chaos in Syria sparks fears of ISIS prison breaks as US rushes detainees to Iraq
Chaos engulfing northeastern Syria has sparked fresh security fears after Syria’s new governing authorities …
