More than 3.2 million people will see increased Social Security benefits, under a new law. However, individuals who are affected may have to wait more than a year before they see the extra money that’s due to them from the Social Security Fairness Act, the Social Security Administration said in an update on its website. “Though SSA is helping some affected beneficiaries now, under ...
Frontier Airlines said Wednesday it has again proposed merging with struggling rival Spirit Airlines, which is in bankruptcy. Frontier and Spirit first announced a deal to merge in 2022, but a JetBlue Airways offer derailed that plan. JetBlue’s proposed acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November. Frontier said in a release that it has met with Spirit’s board and ...
Amazon has tapped Whole Foods CEO Jason Buechel to oversee its sprawling grocery business, the company announced Monday. Doug Herrington, the company’s worldwide retail chief, wrote in a memo to employees posted to Amazon’s site that Buechel will “take on an expanded responsibility leading Worldwide Grocery Stores” while continuing to lead Whole Foods. Amazon acquired the upscale grocer for $13.7 billion in 2017. “In his ...
Starbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles. “As we focus on our ‘Back to Starbucks’ plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for ...
Shares of chipmaker Nvidia plunged Monday, for its worst day since the global market sell-off in March 2020 triggered by the coronavirus pandemic. The plunge came amid a global tech stock sell-off over fears about America’s leadership in the AI sector. Those fears were largely sparked by advances claimed by a Chinese artificial intelligence startup. Shares of the chipmaker, one ...
DeepSeek on Monday said it would temporarily limit user registrations “due to large-scale malicious attacks” on its services, though existing users will be able to log in as usual. The Chinese artificial intelligence startup has generated a lot of buzz in recent weeks as a fast-growing rival to OpenAI’s ChatGPT, Google’s Gemini and other leading AI tools. Earlier on Monday, DeepSeek took ...
Adidas plans to cut as many as 500 jobs in a bid to simplify its business, a person familiar with the matter confirmed to CNBC on Thursday. The layoffs will affect employees at Adidas’ headquarters in Herzogenaurach, Germany, and represent nearly 9% of the 5,800 staffers it employs at the location. The company has not determined how many jobs it will ...
When the Trump administration announced a return-to-office mandate this week, it stated Americans “deserve the highest-quality service from people who love our country.” Federal employees like Frank Paulsen say that comment suggests they aren’t hardworking or loyal. Paulsen, 50, is the vice president of the Local 1641 chapter of the National Federation of Federal Employees, a federal workers union. He ...
American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC. Spending on AmEx cards jumped 8% year over year in the fourth quarter after slowing from a 7% growth rate early in the year to 6% during the second and third quarters, according to the firm’s earnings presentation. While the year-end pickup was seen ...
Target on Friday said it’s rolling back diversity, equity and inclusion programs — including some that aim to make its workforce and merchandise better reflect its customers. In a memo sent to its employees, the Minneapolis-based retailer said it will end its three-year DEI goals, stop reports to external diversity-focused groups like the Human Rights Campaign’s Corporate Equality Index and end ...