A law firm that represents Tesla and Elon Musk has written proposed legislation that would alter Delaware corporate law, according to a person directly familiar with the drafting of the bill. The proposed legislation, drafted by Richards, Layton & Finger, or RLF, would amend Delaware General Corporation Law, and if adopted, could pave the way for the reinstatement of Musk’s 2018 ...
The new year for brick-and-mortar retailers is picking up right where 2024 left off, as a slew of stalwart brands are set to shutter dozens of store locations amid shifting consumer patterns. The latest crop of closures are being led by fabrics and crafts retailer Joann, which said this week it was shuttering 500 locations in 49 states as part ...
Italo Medelius-Marsano was a law student at North Carolina Central University in 2022, when he took a job at an Amazon warehouse near the city of Raleigh to earn some extra cash. The past month has been unlike any other during his three-year tenure at the company. Now, when he shows up for his shift at the shipping dock, Medelius-Marsano says he’s ...
Breakfast specialists Denny’s will accelerate planned store closures in 2025 amid continued consumer shifts toward preferences for fast-food and take-out options. On an earnings call Wednesday, CFO Robert Verostek said the closures would incorporate a mix of poorly performing restaurants and ones with expiring leases. According to industry publication Restaurant Dive, the new closures represent about 30 more from a ...
Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report Friday. Retail sales slipped 0.9% for the month from an upwardly revised 0.7% gain in December, even worse than the Dow Jones estimate for a 0.2% decline. The sales totals are adjusted for seasonality but not inflation for a month, ...
Egg rationing is here. With prices rising rapidly and showing no signs of slowing anytime soon, some of the nation’s biggest grocery store chains — including Trader Joe’s, Walmart and Costco — have begun limiting the amount of eggs individual consumers can buy. This time last year, the average price for a dozen eggs was around $3, according to the Bureau ...
Fragrance brand Brown Girl Jane’s perfume bottles sit on shelves at Sephora near some of the most storied labels in the fashion and beauty world, including Prada and Dior. For the Black-owned brand, getting a retailer to bet on it was just the start, Brown Girl Jane CEO and co-founder Malaika Jones said. She said Sephora has supported the company ...
DETROIT — As President Donald Trump threatens to further increase tariffs on U.S. trading partners, the greatest impact for the auto industry outside of North America would be additional levies on South Korea and Japan. The East Asian countries produced a combined 16.8% of vehicles sold last year in the U.S., including a record 8.6% from South Korea and 8.2% from Japan, according ...
The U.S. spirits industry maintained its market share leadership over beer and wine for a third straight year in 2024, even as revenues slid, according to new data released Tuesday. Spirits supplier sales in the U.S. fell 1.1% last year to a total of $37.2 billion, while volumes rose 1.1%, according to the annual U.S. economic report from the Distilled Spirits ...
Last week, White House crypto czar David Sacks held his first press conference to discuss the future of crypto policy coming out of the Trump administration. While that will include stablecoin legislation and digital asset regulation, Sacks told CNBC that a top agenda idea is also evaluating “whether it’s feasible to create either a bitcoin reserve or some sort of digital ...