Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year.Here's what the bank reported versus what Wall Street was expecting based on a survey of analysts by...
Airbus A330neo widebody aircraft meant for Delta Air Lines being tested in Toulouse, France.Nurphoto | Nurphoto | Getty ImagesDelta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive record revenue in 2023. CEO Ed Bastian said continued strong...
A person walks by a CVS Pharmacy store in Manhattan, New York, on Nov. 15, 2021.Andrew Kelly | ReutersCVS Health plans to close select pharmacies inside Target stores early this year, a company spokesperson said Thursday, as retail pharmacy chains in the U.S. struggle to boost profits. The closures will...
The governors of New York and California announced sweeping plans to crack down on retail crime this week, as trade associations and police departments lobby for government action to curb theft.The plans include new legislation designed to increase the penalties for retail crime offenses and more funding for police...
Sperry Top-Sider Bill fish Tan and Beige.Mayra Beltran | Houston Chronicle | Getty ImagesWolverine World Wide has sold Sperry to brand management firm Authentic Brands Group and Canadian retailer the Aldo Group, the company announced Thursday.The deal will generate $130 million, which Wolverine plans to use to pay down...
Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023.Mike Blake | ReutersCitigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank's reorganization came in far higher than disclosed by...
SpaceX founder Elon Musk and T-Mobile CEO Mike Sievert on stage during a T-Mobile and SpaceX joint event in Boca Chica Beach, Texas, on Aug. 25, 2022.Michael Gonzalez | Getty ImagesSpaceX successfully sent text messages via Starlink satellites using T-Mobile's network, it announced Wednesday, as Elon Musk's company aims...
The global supply chain is feeling the fallout from Iran-backed Houthi rebels attacking vessels in the Red Sea. Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products.Vessels aren't able to come back to Asia in time, and ocean...
Screenshot of the TheMessenger website.Source: TheMessengerThe Messenger, the struggling news media startup co-founded by publishing veteran Jimmy Finkelstein, is urging potential investors to make a long-shot bet on a dramatic rebound in advertising this year.The company is attempting to stop the cash burn that has put it in jeopardy.CNBC...
A woman holds the hand of her daughter while motioning to a man in front of Neiman Marcus at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania.Mark Makela | Getty ImagesORLANDO, Fla. – As rumors swirl over whether Saks Fifth Avenue will acquire...