Billionaire Bill Ackman said Thursday he will back a candidate in the New York City mayoral race to counter the candidacy of New York Assemblyman Zohran Mamdani, an avowed democratic socialist. Mamdani is the presumptive Democratic Party nominee for the New York City mayoral race after he declared victory over former New York Gov. Andrew Cuomo […] ...
Tag: supply chain
Jewelry retailer shops for buyers amid tariff strugglesJewelry retailer shops for buyers amid tariff struggles
Claire’s Stores Inc. is weighing a potential sale as the beleaguered teen jewelry store contends with relentless competition and the impact of President Donald Trump’s tariffs, according to a report. The company, primarily owned by private equity firms Elliott Management and Monarch Alternative Capital, tapped Houlihan Lokey Inc to find potential buyers for some or […] ...
Inside Bezos’ $1B wedding plans: Amazon founder taps ultra-exclusive event companyInside Bezos’ $1B wedding plans: Amazon founder taps ultra-exclusive event company
Amazon founder Jeff Bezos and fiancée Lauren Sánchez tapped event planners Lanza & Baucina Limited for their wedding ceremony and reception. The planners are bound to be busy because the high-profile couple, engaged for roughly two years, are getting married in Venice, Italy, later in the week. Lanza & Baucina Limited is based in London. […] ...
‘America’s Checkbook’ would open the ledger on federal expenditures from pencils to the Pentagon‘America’s Checkbook’ would open the ledger on federal expenditures from pencils to the Pentagon
The Treasury would be required to track every expenditure of the federal government under the newest congressional effort toward government efficiency. The LEDGER Act, nicknamed “America’s Checkbook,” is based off two successful efforts in Ohio and Florida where efforts to publicize individual government expenditures have been successful. Reps. Michael Rulli, R-Ohio, and Michael Haridopolos, R-Fla., […] ...
Tech giant faces third lawsuit alleging it’s discriminating against older white men in furtherance of DEITech giant faces third lawsuit alleging it’s discriminating against older white men in furtherance of DEI
America First Legal, a pro-Trump legal advocacy nonprofit, has filed suit for the third time against International Business Machines Corporation (IBM) for allegedly discriminating against its older White male employees in furtherance of the company’s diversity, equity and inclusion (DEI) policies. The plaintiff in this latest suit filed against IBM on Wednesday is a former […] ...
Airline giants rally behind Trump admin’s ‘critical’ plan to overhaul outdated air traffic systemsAirline giants rally behind Trump admin’s ‘critical’ plan to overhaul outdated air traffic systems
EXCLUSIVE: The CEOs of four major airlines in the United States are vocalizing support for a key provision in the reconciliation bill in a new video. The Department of Transportation is heavily advocating for $12.5 billion in funding included in the “One Big Beautiful Bill Act” in order to overhaul the decades-old air traffic control […] ...
Dollar slides to 3-year low on report Trump plans to name next Fed chair earlyDollar slides to 3-year low on report Trump plans to name next Fed chair early
The U.S. dollar sank to its lowest level in three years on Thursday following a report that President Donald Trump is planning to pick his nominee to serve as the next chair of the Federal Reserve early. The Wall Street Journal’s U.S. Dollar Index – which measures the dollar’s strength relative to a basket of 16 foreign […] ...
Salesforce boss reveals the stunning amount of work now handled by AISalesforce boss reveals the stunning amount of work now handled by AI
Salesforce CEO Marc Benioff revealed the software company uses artificial intelligence (AI) technology to perform a good deal of its work. He told Emily Chang, the host of Bloomberg’s “The Circuit with Emily Chang,” that AI “is doing 30% to 50% of the work at Salesforce now.” The company has been using AI to automate […] ...
Sam’s Club adds ‘hot baked’ food item to members-only delivery serviceSam’s Club adds ‘hot baked’ food item to members-only delivery service
Sam’s Club is about a month into delivering “hot baked pizza” to members’ doors. The retail giant, owned by Walmart, said it got into the pizza delivery business following member feedback. “Since launching pizza delivery in late May, we’ve been encouraged by the strong response from members,” a statement from a Sam’s Club spokesperson to […] ...
US regulator directs Fannie Mae, Freddie Mac to consider cryptocurrency as an assetUS regulator directs Fannie Mae, Freddie Mac to consider cryptocurrency as an asset
The U.S. housing regulator directed Fannie Mae and Freddie Mac to consider cryptocurrency as an asset for single-family mortgage loan risk assessments. Federal Housing Finance Agency (FHFA) Director William Pulte said in a social media post on Wednesday that he ordered government-sponsored enterprises, which play a critical role in the home financing industry, to “prepare […] ...
Mortgage rates fall for 4th straight week, lowest since early MayMortgage rates fall for 4th straight week, lowest since early May
Mortgage rates fell for the fourth consecutive week to the lowest level since early May, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.77% from last week’s reading of 6.81%. The average rate on a […] ...
Trump’s energy chief warns US grid ‘reaching its limit’ as administration works to avert ‘train wreck’Trump’s energy chief warns US grid ‘reaching its limit’ as administration works to avert ‘train wreck’
The secretary of America’s energy department has cautioned that the nation’s grid is reaching its limit, arguing Trump administration decisions are actively preventing a disaster. “In my department, we’ve issued four emergency orders just in the last few weeks to stop the closure of reliable plants, so we can keep the lights on and stop […] ...
Bumble announces major layoffs affecting 30% of employees as company restructuresBumble announces major layoffs affecting 30% of employees as company restructures
Bumble Inc. disclosed Wednesday that it will cut its workforce by 30%. The move comes as the dating app company seeks to realign its operating structure to “optimize execution on its strategic priorities,” Bumble said in a Securities and Exchange Commission (SEC) filing. Approximately 240 people will lose their jobs in the planned layoffs. CEO […] ...
Federal judge rejects Trump admin’s move to monitor border financial transactionsFederal judge rejects Trump admin’s move to monitor border financial transactions
A federal judge in Texas granted temporary relief to two small money service businesses operating along the U.S.-Mexico border from having to enforce a Trump administration policy intended to disrupt clandestine financial laundering operations by cartels. In March, the U.S. Treasury Department issued a “Geographic Targeting Order” that lowered the required reporting threshold on cash […] ...
US economy shrank 0.5% in the first quarter of 2025 amid tariff uncertaintyUS economy shrank 0.5% in the first quarter of 2025 amid tariff uncertainty
The U.S. economy contracted in the first quarter as tariffs caused importers to surge shipments before higher levies took effect. The Commerce Department’s Bureau of Economic Analysis (BEA) released its third estimate for first quarter gross domestic product (GDP), which found the U.S. economy contracted at an annual rate of 0.5% in the first quarter, […] ...
Your DoorDash order might arrive from the sky as drone deliveries take offYour DoorDash order might arrive from the sky as drone deliveries take off
Your next order from DoorDash might not come via a delivery driver on an electric-powered delivery bike. It could get delivered by air. In recent years, companies such as Walmart have increased their use of drone technology to deliver groceries and household items, aiming to outpace competitors and capture market share. Now, drone companies are […] ...
Judges rule against authors over AI companies training models on books without permissionJudges rule against authors over AI companies training models on books without permission
Two artificial intelligence development companies won in court this week against book authors’ copyright lawsuits. Two federal judges in San Francisco ruled that Anthropic and Meta may use books without permission to train its artificial intelligence systems. On Wednesday, U.S. District Judge Vince Chhabria sided with Meta Platforms, telling authors that they did not present […] ...
Popular chicken finger chain quietly launches massive expansion across AmericaPopular chicken finger chain quietly launches massive expansion across America
Raising Cane’s, a popular fast-food chain specializing in chicken fingers, is continuing to increase its restaurant count. Three new Raising Cane’s restaurants began serving customers on Tuesday, and according to a representative for the company, more openings are coming. The trio of locations that opened earlier this week are located in Ontario, Ohio; Wichita, Kansas; […] ...
‘Nepo-buyers’ emerging as America’s new class of homeowners making parent-funded purchases‘Nepo-buyers’ emerging as America’s new class of homeowners making parent-funded purchases
An American housing market “crisis” has some first-time homebuyers turning to the bank of mom and dad to help them achieve the rite of passage. Enter “nepo-buyers,” who can be described as adult children utilizing either gifted down payments, mortgage co-signs or entire homes and condos from their families. “Rising home prices, higher interest rates, […] ...
White House pushes back on ‘remarkably low’ GDP forecasts for Trump-GOP tax billWhite House pushes back on ‘remarkably low’ GDP forecasts for Trump-GOP tax bill
The Trump administration is pushing back on projections for the so-called “One Big, Beautiful Bill,” arguing the scoring understates the economic growth the bill would fuel and, as a result, projects higher budget deficits. The nonpartisan Congressional Budget Office (CBO), which is responsible for analyzing the cost of legislation moving through Congress, estimated that the […] ...
Former MLB star Alex Rodriguez, Marc Lore approved as controlling owners of Timberwolves and Lynx, NBA saysFormer MLB star Alex Rodriguez, Marc Lore approved as controlling owners of Timberwolves and Lynx, NBA says
The sale of the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx to a group led by former MLB star Alex Rodriguez and e-commerce entrepreneur Marc Lore has gained unanimous approval from the NBA’s board of governors, the league announced on Tuesday. Rodriguez and Lore have familiarity with the Timberwolves, as they previously held minority […] ...
Treasury requires US financial institutions cut ties with Mexico-based banks tied to cartel money launderingTreasury requires US financial institutions cut ties with Mexico-based banks tied to cartel money laundering
The Trump administration on Wednesday, for the first time, used a new authority to require U.S. financial institutions to cut ties with three Mexico-based banks for laundering money on behalf of cartels. The Treasury Department identified cartels that have “exploited Mexico-based financial institutions to move money,” which Treasury Secretary Scott Bessent said enables the “vicious […] ...
AT&T settles data breach lawsuits for $177 million: What customers need to know about settlement paymentsAT&T settles data breach lawsuits for $177 million: What customers need to know about settlement payments
Money could be coming the way of some AT&T users through a significant settlement that stemmed from lawsuits about a pair of data breaches the company experienced. The settlement that AT&T reached, worth $177 million, received preliminary approval from the U.S. District Court for the Northern District of Texas late last week. The preliminary approval […] ...
Wall Street panics over prospect of a socialist running New York CityWall Street panics over prospect of a socialist running New York City
On Wednesday morning, the world’s epicenter of capitalism woke up to find it might soon have a socialist mayor. Democratic socialist Zohran Mamdani’s stunning win over former Gov. Andrew Cuomo in the New York City Democratic primary for mayor shocked Wall Street. Some of the world’s most influential and powerful financiers were left grasping to […] ...
James Comer probes if government played role in ‘debanking’ conservativesJames Comer probes if government played role in ‘debanking’ conservatives
FIRST ON FOX: House Oversight Committee Chair James Comer, R-Ky., is investigating whether federal actors played any role in “debanking” conservatives, widening his probe into alleged political discrimination by financial institutions. “The Committee on Oversight and Government Reform is investigating the improper debanking of individuals and entities based on political viewpoints or involvement in certain […] ...