President-elect Donald Trump this week transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, regulatory filings revealed Thursday evening. Trump did not receive any money for the gift of his 114,750,000 shares of Trump Media stock to the Donald J. Trump Revocable Trust on Tuesday, according to a filing with the Securities and Exchange Commission. Because Trump is the beneficiary ...
OpenAI’s “12 Days of Shipmas,” which wrapped up on Friday, brought a sense of levity to end the year. The marketing blitz served as a way for the high-profile and controversial AI startup to show it can release an extensive roster of new features and tools while also having some fun. But when the calendar turns, the company faces some ...
Love Starbucks holiday drinks? This week, you may not get them. Starbucks Workers United announced baristas will strike starting Friday in three key markets — Seattle, Los Angeles and Chicago. The union said the move is in response to the coffee chain’s “failure to bring viable economic proposals to the bargaining table” and “to resolve hundreds of outstanding unfair labor ...
Party City on Friday announced it will close all of its stores and has initiated corporate layoffs effective immediately, according to a CNN report. CEO Barry Litwin told corporate employees in a meeting viewed by CNN that Party City has to “commence a winddown process immediately,” and that Friday would be their last day of work for the company. “That is ...
The Consumer Financial Protection Bureau is suing America’s three largest banks, accusing the institutions of failing to protect customers from fraud on Zelle, the payment platform they co-own. According to the suit, which also targets Early Warning Services LLC, Zelle’s official operator, Zelle users have lost more than $870 million over the network’s seven-year existence due to these alleged failures. ...
Malls used to be the destination for the buzziest stores. Now they’re home to the hottest restaurants. The slow death of department stores and rise of online shopping have hurt U.S. shopping malls, particularly over the last decade. The once-essential shopping centers have seen their numbers drop from a peak of 2,500 in the 1980s to roughly 700 these days, ...
When athleisure brand Vuori launched in 2015, it was headquartered in a garage, sold only men’s shorts and couldn’t get investors to give it the time of day. Now, the Carlsbad, California, retailer is expanding globally, backed by a string of marquee investors including General Atlantic, SoftBank and Norwest Venture Partners, after raising $825 million in November in a funding ...
The fate of President Joe Biden’s landmark climate legislation, the Inflation Reduction Act, is in the hands of the incoming Republican-controlled White House, Senate and House of Representatives. At the White House level, President-elect Donald Trump has already nominated three people to posts in his administration who are likely to be key to the future of the IRA, if they are confirmed by ...
Starbucks Workers United said Tuesday that 98% of union baristas have voted to authorize a strike as they seek a contract with the coffee giant. Bargaining delegates are set to return to negotiations with Starbucks on Tuesday in the last scheduled session of the year with the goal of agreeing on a “foundational framework.” Starbucks and Workers United have spent hundreds ...
McKinsey & Company agreed to pay $650 million in a deferred prosecution agreement that will resolve a federal criminal probe into the company’s consulting work advising Purdue Pharma on how to increase sales of its opioid painkiller OxyContin, a court filing said Friday. A former top partner at McKinsey, Martin Elling, also agreed to plead guilty to obstruction of justice next month in the probe by the ...