Business

In this article PTON Peloton told employees Friday that it is slashing roughly 780 jobs, closing a significant number of its retail stores and hiking prices on some equipment in a bid to cut costs and become profitable.  The company did not specify how many of its 86 retail locations it plans to shutter, but

Author Salman Rushdie is tended to after he was attacked during a lecture, Friday, Aug. 12, 2022, at the Chautauqua Institution in Chautauqua, NY. Joshua Goodman | AP Author Salman Rushdie was attacked while on stage for a panel in Chautauqua in western New York on Friday. The New York State Police released a statement

A selection of men’s clothes packaged by Trunk Club, which was shuttered earlier this year after Nordstrom bought the personal styling service in 2014. Source: Trunk Club After earning a master’s degree a decade ago, David Hill wanted to amp up his personal style and signed up for the Trunk Club, which promised to mail

In this article NYT The New York Times building Jonathan Torgovnik | Getty Images Activist investor ValueAct has built a 6.7% stake in the New York Times, according to an SEC filing out Thursday, sending shares of the media company up around 10% in afternoon trading. “We are aware that ValueAct has made an investment

In this article DIS Another major American company is raising prices again, but this time, don’t blame inflation. Disney is increasing the price on its streaming products and signaled that a price hike could be in the works at its theme parks as well. On Wednesday, the company said the price of Disney+ without ads

In this article F Ford CEO Jim Farley poses with the Ford F-150 Lightning pickup truck in Dearborn, Michigan, May 19, 2021. Rebecca Cook | Reuters WAYNE, Mich. – Ford Motor CEO Jim Farley does not expect the costs of raw materials for the company’s electric vehicles to ease in the near future, marking the

In this article DIS An inflatable Disney+ logo is pictured at a press event ahead of launching a streaming service in the Middle East and North Africa, at Dubai Opera in Dubai, United Arab Emirates, June 7, 2022. Yousef Saba | Reuter Disney on Wednesday lowered its longer-term forecast for Disney+ to 215 million to

In this article DIS A performer dressed as Mickey Mouse entertains guests during the reopening of the Disneyland theme park in Anaheim, California, U.S., on Friday, April 30, 2021. Bloomberg | Bloomberg | Getty Images Disney will put a stamp on how the media industry views streaming’s growth potential — at least for the time

In this article SG A worker wears a Sweetgreen Inc. hat while preparing food inside the company’s restaurant in Boston, Massachusetts. Adam Glanzman | Bloomberg | Getty Images Shares of Sweetgreen plunged more than 20% in extended trading Tuesday after the salad chain lowered its 2022 forecast. The restaurant company also said it laid off

Ford F-150 Lightning trucks manufactured at the Rouge Electric Vehicle Center in Dearborn Michigan. Courtesy: Ford Motor Co. DETROIT – Ford Motor on Tuesday said it is increasing the starting prices of its electric F-150 Lightning pickup due to “significant material cost increases and other factors.” The Detroit automaker said the price increases – between

Serena Williams of the US waves as she walks off the court after losing against Japan’s Naomi Osaka during their women’s singles semi-final match on day eleven of the Australian Open tennis tournament in Melbourne on February 18, 2021. William West | AFP | Getty Images Tennis legend Serena Williams announced her retirement in a

In this article BA An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images Boeing will resume deliveries of its 787 Dreamliners in the coming days, the Federal Aviation Administration said Monday. Deliveries of the wide-body jetliners have

In this article BIRD A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021. Al Drago | Bloomberg | Getty Images Allbirds on Monday trimmed its financial forecast for the year and announced a number of efforts to cut costs as the sustainable shoe maker reported

A sign stands outside an upscale home for sale in the Lake Pointe Subdivision of Austin, Texas. Ed Lallo | Bloomberg | Getty Images Consumer confidence in the housing market dropped to the lowest level since 2011, as both prospective buyers and sellers have become more pessimistic, according to a monthly survey released Monday by

Hong Kong is reducing the amount of time travelers will need to serve hotel quarantine, from seven days down to three starting Friday. “The seven-day quarantine hotel arrangement will be changed to three days in a quarantine hotel, plus four days of home medical surveillance,” Chief Executive John Lee said at a press conference Monday.

In this article TXRH MCD CMG SBUX BLMN YUM CHUY QSR-CA Howard Schultz David Ryder | Reuters Some restaurants are reporting weaker sales or declining traffic in the second quarter, signaling that diners are cutting back on eating out to save money. But CEOs are split on how consumer behavior is changing and whether it’s

In this article NFLX A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019. Jaap Arriens | NurPhoto | Getty Images There’s a big money question haunting Netflix. In recent years, the streamer has spent big on flashy, blockbuster-style action movies

In this article BBBY A person enters a Bed Bath & Beyond store on October 01, 2021 in the Tribeca neighborhood in New York City. Michael M. Santiago | Getty Images Bed Bath & Beyond is axing one of its private labels, Wild Sage, about a year after the company made an aggressive push into

A customer waits to order food at a McDonalds fast food restaurant on July 26, 2022 in Miami, Florida. Joe Raedle | Getty Images Fast-food chains are playing up the value of their burgers, pizzas and tacos as inflation squeezes budgets — but expect higher prices, skimpier portions and more deals enticing people to sign

In this article NFLX Dado Ruvic | Reuters Netflix is accelerating its push into video games with plans to double its catalog of offerings by the end of the year, but for now, few of the streaming giant’s subscribers are playing. Since last November, the company has been rolling out the games as a way