World News
Boeing would avoid guilty plea, prosecution over 737 Max crashes in possible DOJ deal
The Justice Department isn’t planning to prosecute Boeing in a case tied to two crashes of the aerospace giant’s 737 Max, a person familiar with the matter said, a tentative agreement that would allow the plane-maker to avoid a guilty plea. Boeing agreed to plead guilty in the case last summer in a deal with…
Read More »Cava revenue beats estimates as Mediterranean chain reports double-digit same-store sales growth
Cava on Thursday reported better-than-expected sales in its latest fiscal quarter, shaking off the malaise the broader restaurant industry has felt as consumers have cut back on dining. The Mediterranean chain said its same-store sales grew 10.8% in the three months that ended April 20, lifted by traffic growth of 7.5%. Analysts…
Read More »Nvidia says it is not sending GPU designs to China after reports of new Shanghai operation
Nvidia said it won’t be sending graphics processing unit plans to China following a report that the artificial intelligence chipmaker is working on a research and development center in Shanghai in light of recent U.S. export curbs. “We are not sending any GPU designs to China to be modified to comply with export…
Read More »Reddit co-founder Alexis Ohanian takes minority stake in Chelsea FC women’s team
Reddit co-founder Alexis Ohanian has purchased a minority stake in Chelsea FC Women, giving him an ownership stake in two of the most-valuable teams in women’s sports. The founder of venture capital firm Seven Seven Six and husband of tennis legend Serena Williams paid 20 million pounds for a 10% stake…
Read More »‘Shark Tank’ alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots
Bombas founder David Heath is stepping down from his role as CEO as the socks and apparel company looks to expand beyond its direct-to-consumer roots. Bombas President Jason LaRose, a former Under Armour and Equinox executive, will take over as the company’s next CEO effective Thursday. Heath said he realized it was…
Read More »Netflix says its ad tier now has 94 million monthly active users
Netflix said Wednesday its cheaper, ad-supported tier now has 94 million monthly active users — an increase of more than 20 million since its last public tally in November. The company and its peers have been increasingly leaning on advertising to boost the profitability of their streaming products. Netflix first introduced the ad-supported plan in…
Read More »Dick’s Sporting Goods to buy struggling Foot Locker for $2.4 billion
Dick’s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders struggle with uncertainty over President Donald Trump’s tariffs. Dick’s said Thursday that it expects to run Foot Locker as a…
Read More »YouTube will stream NFL Week 1 game in Brazil for free
YouTube will stream the National Football League’s Week 1 game on Sept. 5 for free, the first time the dominant streaming platform has ever broadcast a live NFL game in its entirety. The game, which Front Office Sports first reported will be between the Kansas City Chiefs and the Los Angeles Chargers, will…
Read More »5 new Uber features you should know — including a way to avoid surge pricing
Uber is giving commuters new ways to travel and cut costs on frequent rides. The ride-hailing company on Wednesday announced a route share feature on its platform, prepaid ride passes and special deals week for Uber One members at its annual Go-Get showcase. Uber’s new features come as the company accelerates…
Read More »American Eagle shares plunge 17% after it withdraws guidance, writes off $75 million in inventory
American Eagle on Tuesday said it is writing off $75 million in spring and summer merchandise and withdrawing its full-year guidance as it contends with slow sales, steep discounting and an uncertain economy. The apparel retailer said it expects revenue in the first quarter, which ended in early May, to be…
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