Costco on Tuesday reported quarterly earnings that topped Wall Street's expectations, as shoppers turned to the membership club for groceries but bought fewer big-ticket items.On an earnings call, Chief Financial Officer Richard Galanti said shoppers made more trips to the retailer's stores, even as they spent less. He said...
In a significant ruling, Judge Arthur Engoron determined Tuesday that Donald Trump and his real estate company had deceived financial institutions, insurers and other entities by drastically inflating asset values and misrepresenting his net worth in official documents meant for deal-making and obtaining financing. The ruling emerged from a civil...
People walk past a Peloton store in Coral Gables, Florida, on Jan. 20, 2022.Joe Raedle | Getty ImagesPeloton co-founder and Chief Product Officer Tom Cortese is leaving the company and will be replaced by longtime Silicon Valley veteran Nick Caldwell, the company announced Tuesday. Cortese, who helped found the connected...
Investment advisors are shrugging off a potential government shutdown this weekend. “We’ve been through this song and dance before,” said Noah Damsky, co-founder of Marina Wealth Advisors. “It feels like déjà vu. This is what they do every time.” Lawmakers in Washington are once again at loggerheads over the federal budget....
JPMorgan Chase & Co. reached settlements with former executive Jes Staley and the U.S. Virgin Islands over ties to Jeffrey Epstein, as it seeks to end its legal woes over its banking relationship to the deceased pedophile. The biggest U.S. bank tentatively agreed to pay $75 million to the U.S....
A Target department store in North Miami Beach, Florida, on May 17, 2023.Joe Raedle | Getty ImagesTarget said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime.The company will close one store in New York City's Harlem neighborhood,...
An engineering conglomerate owned by Berkshire Hathaway just won an initial victory in a lawsuit brought against the company over its 401(k) plan. The company, Marmon Holdings, was sued last year in a proposed class action filed by law firm Capozzi Adler, which has brought numerous excessive-fee cases against 401(k)...
Wealthspire Advisors, a registered investment advisor owned by insurance broker and retirement consultant NFP, said Tuesday that it had made its most significant acquisition since 2019 with the purchase of GM Advisory Group Inc., an RIA that manages about $3 billion of client assets and advises on another $3.3...
Slamming the tentative labor deal between Hollywood writers and studios, media mogul Barry Diller on Tuesday laid out his biggest bone of contention with generative artificial intelligence.Diller, chairman of IAC and Expedia, called for the law to be redefined to protect published material from capture in artificial intelligence knowledge-bases."Fair...