Business

This year, for the first time in roughly five years, borrowers who have defaulted on their federal student loan debt will face collection activity, including the garnishment of their wages and retirement benefits. In a new U.S. Department of Education memo obtained by CNBC, a top official lays out for the first time details of when garnishments may resume — in some cases, ...

Target raised its fourth-quarter sales forecast Thursday after more consumers turned to its stores and website for holiday shopping — particularly on days known for deep discounts. The big-box retailer now expects comparable sales in the fiscal fourth quarter to grow by about 1.5%. That’s better than its most recent outlook that the metric would be approximately flat. Comparable sales includes sales ...

JPMorgan Chase on Wednesday posted record quarterly and annual earnings and revenue, reinforcing the company’s status as the biggest and most profitable bank in U.S. history. Here’s what the company reported: The bank said profit rose 50% to $14 billion in the fourth quarter as noninterest expenses fell 7% from a year earlier, when the firm had a $2.9 billion FDIC assessment tied ...

Foul-mouthed superheroes and family-friendly fare propped up the domestic box office during the final months of 2024. Full-year ticket sales were down just 3.4% from 2023, reaching $8.74 billion, a far cry from the nearly 27% shortage seen at the midway point of 2024. The combination of Disney and Marvel’s “Deadpool & Wolverine,” Pixar’s “Inside Out 2,” Disney Animation’s “Moana 2” and Universal’s “Wicked,” ...

The election of Donald Trump in November and a swing back to Republican power in Washington is already starting to make an impact in the business world, according to Goldman Sachs CEO David Solomon. The bank executive said on a conference call Wednesday that other CEOs are feeling better about the direction of the economy and their businesses since the presidential election, even though ...

Meta is set to cut about 5% of its workforce, focusing on the company’s lowest-performing staffers, CNBC confirmed Tuesday. CEO Mark Zuckerberg informed employees about the decision to “move out low performers faster” in a memo posted on the company’s internal Workplace forum on Tuesday. Zuckerberg told employees 2025 will “be an intense year.” The company specified that it is “exiting approximately 5% ...

Boeing handed over 348 airplanes in 2024, about a third fewer than it did a year earlier as the aerospace giant struggled with a crisis after a midair door panel blowout a year ago and a machinist strike in the fall that halted production. The tally widened the delivery gap with Boeing’s chief rival, Airbus, which gave 766 jetliners to customers last year, the most ...

Rashida Jones, the president of MSNBC, announced Tuesday that she is stepping down after four years of steering the cable news network. Jones, who made history as the first Black executive to lead a major U.S. television news network, made the announcement to top MSNBC anchors, leaders and network staff on Tuesday morning. (MSNBC and NBC News are both units ...

Government inspectors documented unsanitary conditions at several Boar’s Head deli meat plants, not just the factory that was shut down last year after a deadly outbreak of listeria poisoning, federal records show. Newly released reports from Boar’s Head plants in New Castle, Indiana; Forrest City, Arkansas; and Petersburg, Virginia, described multiple instances of meat and fat residue left on equipment and walls, dripping ...

Southwest Airlines is pausing corporate hiring and promotions, suspending most of its summer internships and going without some employee team-building events that date back to the 1980s in order to cut costs and improve margins, CEO Bob Jordan told staff. “Every single dollar matters as we continue to fight to return to excellent financial performance,” Jordan said in the note Monday, which ...