Pedestrians walk along Wall Street near the New York Stock Exchange in New York.Michael Nagle | Bloomberg | Getty ImagesThe largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come.Even as the economy has surprised forecasters with...
A picture of a woman starting Netflix on a TV inside her apartment.Artur Widak | NurPhoto | Getty ImagesNetflix shares surged 16% on Thursday following a promising quarterly earnings report. The streaming giant reported a number of victories including a 70% jump in its new ad-supported subscription tier.As for...
At Kohl's stores, Chief Merchant Nick Jones said shoppers will see a mix of elevated items and sharp price points. For example, the company has signs that call attention to low prices of some sweaters, but is also has added European-made glassware to its home decor.Melissa Repko | CNBCAs...
Illustration by Elham AtaeiazarIt's no secret that Shein has ambitions to go public, but the fast-fashion juggernaut will have to overcome a slew of hurdles before it can win over Wall Street.The digitally native retailer skyrocketed to prominence during the Covid-19 pandemic after shoppers across the globe fell in...
Rafael Henrique | Lightrocket | Getty ImagesWhether it's streaming or traditional TV, sports keep audiences coming back to their screens — and Netflix is working on getting more into the game.Following some quarters of stagnation, Netflix is back to adding more subscribers, with the help of adding new business...
SportsCenter at ESPN Headquarters.The Washington Post | The Washington Post | Getty ImagesThe reorganization of Disney's business is giving investors a glimpse at ESPN's financials for the first time.The inside look – which shows ESPN's revenue has been decreasing in recent quarters – comes as the parent company looks...
A SpaceX Falcon Heavy rocket with the Psyche spacecraft launches from NASA's Kennedy Space Center in Cape Canaveral, Florida, on October 13, 2023.Chandan Khanna | AFP | Getty ImagesWith the pace of rocket launches accelerating, and competition from China rising, executives from top U.S. space companies on Wednesday urged...
Paxlovid, Pfizer's anti-viral medication to treat the coronavirus disease (COVID-19), is displayed in this picture illustration taken October 7, 2022.Wolfgang Rattay | ReutersPfizer will price a five-day course of its Covid antiviral drug Paxlovid at $1,390 when the company starts to transition it to the commercial market later this...
Greg Peters, Co-CEO of Netflix, speaks at a keynote on the future of entertainment at Mobile World Congress 2023.Joan Cros | Nurphoto | Getty ImagesNetflix is correcting the Great Netflix Correction.There once was a time, long ago in April 2022, when Netflix reported a loss of 200,000 subscribers. The company...
A Costco Wholesale warehouse sign is seen outside of a store in Silver Spring, Maryland, on August 5, 2023Mandel Ngan | Afp | Getty ImagesCostco's longtime CEO Craig Jelinek is stepping down from the company, after the warehouse club's spree of pandemic- and inflation-fueled growth.The company said Wednesday that Ron...