Richard Parsons, who helped Time Warner divorce from AOL after what was considered one of the worst takeovers in history, has died. He was 76. His death was confirmed by Lazard, where he was a longtime board member. Parsons became CEO of AOL Time Warner in 2002, replacing Gerald Levin, who stepped aside two years after the media giant’s disastrous $165 ...
The U.S. Treasury Department has delayed the deadline for millions of small businesses to Jan. 13, 2025, to file a new form, known as a Beneficial Ownership Information report. The Treasury had initially required many businesses to file the report to the agency’s Financial Crimes Enforcement Network, known as FinCEN, by Jan. 1. Noncompliance carries potential fines that could exceed ...
If the Covid era marked a boom time for digital health companies, 2024 was the reckoning. In a year that saw the Nasdaq jump 32%, surpassing 20,000 for the first time this month, health tech providers largely suffered. Of 39 public digital health companies analyzed by CNBC, roughly two-thirds are down for the year. Others are now out of business. ...
A Starbucks barista strike is expanding to 5,000 workers at what organizers said was more than 300 stores in 45 states, just as the company’s busy holiday stretch begins. Though it still represents only about 3% of all U.S. Starbucks locations, it’s an expansion of an action that began last week in three cities. Organized by the Service Employees International ...
If the Covid era marked a boom time for digital health companies, 2024 was the reckoning. In a year that saw the Nasdaq jump 32%, surpassing 20,000 for the first time this month, health tech providers largely suffered. Of 39 public digital health companies analyzed by CNBC, roughly two-thirds are down for the year. Others are now out of business. ...
Top CEOs and their companies are pledging to donate millions of dollars to President-elect Donald Trump’s inaugural committee, as they seek to get on his good side and make inroads before he takes office. Some of the planned donations reportedly include $1 million each from Jeff Bezos’ Amazon, OpenAI CEO Sam Altman and Facebook parent company Meta, led by Mark Zuckerberg. Others include $2 million from Robinhood Markets and $1 ...
The toy industry is headed for its second consecutive annual sales decline, but it’s got one thing propping it up: colorful, interlocking plastic bricks. At a time when toy companies are struggling to match the massive gains of pandemic-era sales, Lego is growing rapidly. The Danish company saw revenue jump 13% in the first six months of the year and continues to ...
Nordstrom on Monday announced it will become a private company after it agreed to a buyout deal valued at roughly $6.25 billion from Nordstrom’s founding family and Mexican department store El Puerto de Liverpool. The company’s board of directors unanimously approved of the transaction, which is expected to close in the first half of 2025. As part of the deal, the Nordstrom family will ...
The IRS plans to issue automatic “special payments” of up to $1,400 to 1 million taxpayers starting later this month, the agency announced last week. The payments will go to individuals who did not claim the 2021 Recovery Rebate Credit on their tax returns for that year and who are eligible for the money. The Recovery Rebate Credit is a refundable tax credit provided ...
The Consumer Financial Protection Bureau is suing Walmart and a financial technology firm, alleging they illegally forced drivers into using costly deposit accounts to receive their pay. The agency alleges that Walmart and the vendor, Branch Messenger, forced the drivers, who were part of Walmart’s Spark Driver gig-work platform, to use Branch Messenger’s deposit accounts to collect their compensation — and ...