It’s become a familiar sight at Starbucks cafes: a counter crowded with mobile orders, frustrated customers waiting for the drinks they ordered and overwhelmed baristas trying to keep up with it all. Fixing that problem will likely top incoming CEO Brian Niccol’s list of tasks to turn around the struggling coffee giant when he steps into the role on Sept. 9. Investors and executives ...
Shares of former President Donald Trump’s social media company on Monday touched their lowest price since they began public trading on the Nasdaq nearly five months ago after a merger. Trump Media, the company that owns the Republican presidential nominee’s preferred social messaging platform Truth Social, closed down more than 3.5% to settle at $22.24 a share. The previous low point for the stock, which trades ...
DETROIT — General Motors is laying off more than 1,000 salaried employees globally in its software and services division following a review to streamline the unit’s operations, CNBC has learned. The layoffs, including roughly 600 jobs at GM’s tech campus near Detroit, come less than six months after leadership changes overseeing the operations, including former Apple executive Mike Abbott leaving the automaker due to ...
The Securities and Exchange Commission on Monday said it fined billionaire activist investor Carl Icahn and his company $2 million, settling allegations that he failed to disclose billions of dollars worth of personal margin loans pledged against the value of his Icahn Enterprises stock. Icahn and the publicly-traded company that bears his name settled those charges without admitting or denying wrongdoing. They agreed to ...
The Inflation Reduction Act has sparked a manufacturing boom across the U.S., mobilizing tens of billions of dollars of investment, particularly in rural communities in need of economic development. The future of those investments could hinge on the outcome of the U.S. presidential election. The prospect of a Republican victory has shaken the confidence of some investors who worry the ...
DETROIT — Canada’s two largest railroads are starting to shut down their shipping networks as a labor dispute with the Teamsters union threatens to cause lockouts or strikes that would disrupt cross-border trade with the U.S. Both the Canadian Pacific Kansas City and Canadian National railroads, which haul millions of tons of freight across the border, have stopped taking certain ...
Changes to realtor commissions taking effect this weekend could give home sellers a lot more negotiating power — and for buyers, potentially some more paperwork. Starting Saturday, realtors will be barred from offering compensation on multiple listing services (MLS), making it harder for buyers’ agents and sellers’ agents to negotiate fees on their own, as they’ve done for decades. Until ...
A U.S. judge temporarily blocked media companies Disney, Warner Bros. Discovery and Fox from launching their sports streaming service, Venu, according to court filings. The temporary injunction, granted in response to a lawsuit brought by Fubo TV, comes just weeks ahead of the start of the NFL season. The companies had planned to launch their service by that date. Fubo, an internet TV bundle akin to the ...
An ad campaign targeting fast-food chains and a TikTok-viral appetizer helped Chili’s same-store sales climb nearly 15% in its latest quarter. But Kevin Hochman, CEO of parent company Brinker International, told CNBC that the chain’s strong performance is just a sign that customers are finally catching onto the chain’s two-year turnaround. Shares of Brinker have climbed 53% this year, bringing its ...
At least 449 people were likely sickened by cucumbers tainted with Salmonella bacteria, the U.S. Centers for Disease Control and Prevention said Wednesday. Since June, the agency has been investigating an outbreak linked to cucumbers originating with producers in Florida. In its latest update, it said individuals in 31 states and the District of Columbia reported becoming ill after eating ...