Business

2024-08-23

GM-owned Cruise will partner with Uber to offer driverless rides

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A Cruise autonomous taxi in San Francisco, California, US, on Thursday Aug. 10, 2023.  David Paul Morris | Bloomberg | Getty Images Uber Technologies and General Motors’ Cruise have agreed to a multi-year partnership, under which the embattled autonomous vehicle company plans to offer driverless rides to Uber users as soon as next year. The Thursday announcement comes as…

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2024-08-23

Peloton (PTON) earnings Q4 2024

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Peloton said Thursday it is digging itself out of the red and eked out a slight sales increase for the first time in nine quarters as it slashed its overall losses.  The company’s shares spiked 35% on Thursday. The beleaguered connected fitness company, which two board members have run since former CEO Barry McCarthy resigned earlier this year, saw…

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2024-08-23

British tech entrepreneur Mike Lynch found in Sicily yacht wreckage

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Mike Lynch, former chief executive officer at Hewlett-Packard Co.’s Autonomy unit, speaking at a conference on Thursday, April 25, 2013.  Bloomberg | Bloomberg | Getty Images LONDON — The body of British technology entrepreneur Mike Lynch, 59, has been retrieved from the wreckage of a yacht that sank off the coast of Sicily, a source familiar with the matter…

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2024-08-22

RFK Jr. to drop out, endorse Trump over Harris

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Independent presidential candidate Robert F. Kennedy Jr., looks on during a campaign event to announce his pick for running mate at the Henry J. Kaiser Event Center on March 26, 2024 in Oakland, California.  Justin Sullivan | Getty Images Robert F. Kennedy Jr. plans to drop out of the presidential race on Friday and endorse Republican nominee Donald Trump,…

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2024-08-22

Harris CEOs pitch at DNC business policy

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CHICAGO — Vice President Kamala Harris’ allies in the business community are privately making a pitch to CEOs about why they should back her over former President Donald Trump, according to people familiar with the matter. At private parties and meetings during the Democratic National Convention, corporate executives close to Harris told CNBC they are delivering a message tailored to…

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2024-08-22

Nonfarm payroll growth revised down by 818,000, Labor Department says

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The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday. As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported 2.9 million from April 2023 through…

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2024-08-22

Target (TGT) Q2 2024 earnings

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A Target store stands in Manhattan, New York City, on March 5, 2024. Spencer Platt | Getty Images Target said Wednesday that sales grew about 3% in its fiscal second quarter, a return to growth after a prolonged stretch of sluggish sales and squeezed profits. The discounter beat Wall Street’s earnings and revenue expectations, as shoppers made more visits…

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2024-08-21

Beyoncé launches whiskey line with LVMH’s Moët Hennessy

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Moët Hennessy SirDavis American Whisky. Courtesy: Moët Hennessy Beyoncé is holding her whiskey up high. The megastar is entering the luxury liquor business with the launch of a new whiskey line in collaboration with LVMH’s Moët Hennessy, the brand announced in a press release Tuesday. Beyoncé shared the news holding up a glass of the whiskey, dubbed SirDavis, in…

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2024-08-21

Shein sues Temu over copyright infringement, trade secret theft

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Shein and Temu. Yuki Iwamura | Bloomberg | Stefani Reynolds | AFP | Getty Images Chinese-linked fast-fashion giant Shein is suing rival Temu, alleging the retailer stole its designs and built an empire using counterfeiting, intellectual property infringement and fraud.  The suit, filed Monday in Washington, D.C., federal court, comes as Shein itself fends off similar allegations from a…

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