The consumer price index, the most-watched inflation measurement put out by the U.S. government, declined slightly to 3.4% on a 12-month basis in April as price growth in the economy remained elevated. Compared with March, prices climbed 0.3%, with rent and gasoline contributing 70% of the monthly increase, according to the Bureau of Labor Statistics. That was down from the ...
Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel retailer also saw profits sink by more than 96% during its fiscal fourth quarter, compared with the year-ago period. It’s unclear how many employees Under ...
Netflix’s cheaper, ad-supported tier has amassed 40 million global monthly active users, the company said Wednesday. That’s nearly double the 23 million figure the streaming giant shared in January. Separately, Netflix announced it would launch its own advertising platform and no longer partner with Microsoft for that technology. The tech giant will remain a programmatic advertising partner. Netflix introduced the ad-supported plan ...
McDonald’s is set to offer a $5 value meal in the U.S., but only for a limited time. The promotion will include four items for $5 — a McChicken or McDouble, four-piece chicken nuggets, fries and a drink — and will run for roughly a month, beginning on June 25, according to a person familiar with the offering who was not ...
Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla’s comparable Model Y. Deliveries for Onvo’s first car, the L60 SUV, are set to begin in September, the company said. Pre-sales began after Wednesday’s launch event. Nio CEO William Li said he expects Onvo to begin selling its cars overseas ...
United Airlines said the Federal Aviation Administration has cleared it to start adding new aircraft and routes months after the regulator stepped up its scrutiny of the carrier following several safety incidents. “Today, we got some good news: after a careful review and discussion about the proactive safety steps United has taken to date, our FAA Certificate Management Office has allowed us to ...
Forget the drive-thru. Walmart wants diners to find a value meal in its grocery aisles. As fast food gets pricier, the nation’s largest grocer sees a sales opportunity. On a call with CNBC on Thursday, Walmart Chief Financial Officer John David Rainey said some of the discounter’s sales growth in the recent quarter came from customers who turned to its grocery aisles for cheaper ...
Walmart is laying off hundreds of corporate workers across the country as it relocates many employees to its Arkansas headquarters. The big-box retailer confirmed the layoffs and relocations in a memo sent to employees Tuesday. In the memo, Chief People Officer Donna Morris said the move is meant to bring more of its employees back to the office after the Covid ...
Meme stocks are back. One day after an account associated with the phenomenon posted for the first time in years on the X social media platform, shares in companies that have been linked to speculative trading activity are soaring in value. Leading the way is video game retailer GameStop, whose shares have soared approximately 180% to $48.75 after closing at ...
Netflix will stream its first NFL games on Christmas Day. The streaming giant announced Wednesday that it will feature both Dec. 25 matchups scheduled for this year, with at least one other Christmas game coming in 2025 and 2026. “Last year, we decided to take a big bet on live — tapping into massive fandoms across comedy, reality TV, sports ...