Roughly 1,400 people across Nike’s Global Operations team will be laid off, the company announced Thursday. In a memo to employees, Chief Operating Officer Venkatesh Alagirisamy said the cuts will primarily affect Nike’s technology division and span North America, Asia and Europe, representing just under 2% of the company’s global…
American Airlines CEO Robert Isom rejected the idea of a United Airlines merger, telling investors on Thursday’s first-quarter earnings call that it would be bad for all parties. “The idea of the two largest airlines in the world getting together, that is something that we’ve viewed as being anti-competitive and obviously…
Treasury Secretary Scott Bessent pushed back Wednesday after Sen. Chris Coons, D-Del., suggested temporary sanctions relief for Iran has granted the country $14 billion during the war. During a fiery exchange at Wednesday’s Senate Appropriations Committee subcommittee hearing on the 2027 fiscal budget, Coons levied the charge at Bessent, noting…
Investors are flocking to actively managed exchange-traded funds (ETFs) and recently pushed the amount of assets in the investment class above a notable milestone. Actively managed ETFs surpassed $1 trillion in assets under management in the U.S., as investors look to find investment options that may outperform passive ETFs that…
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A bold merger proposal from United CEO Scott Kirby to President Donald Trump has left American Airlines’ CEO Robert Isom…
The parent company behind well-known shopping channels QVC and HSN has filed for Chapter 11 bankruptcy. QVC Group, which…
A batch of Xanax XR is being recalled nationwide after the manufacturer found it may not release the medication in…
Allbirds on Wednesday announced that the company will pivot from making sneakers to providing computing infrastructure for artificial intelligence (AI).…
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California’s housing market is seeing an increase in inventory while the state’s population growth slows, but strong demand stemming from longstanding scarcity has kept the market tight. An analysis by the Public Policy Institute of California (PPIC) found that the state added 677,000 housing units…
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More than two thousand years ago, Greek philosopher Heraclitus of Ephesus coined the phrase, “Change is the only constant.” That observation has remained true since his death, but now change is happening even faster, largely due to generative artificial intelligence (Gen-AI) technology such as ChatGPT or Claude. And that is…
The bipartisan leaders of Congress’ Joint Economic Committee are sounding the alarm about tax season scams that fraudsters may look to use on unsuspecting taxpayers as filing season winds down. Taxpayers have until Wednesday, April 15, to file their 2025 tax returns or request an extension, and scammers may take…
The climate of the U.S. housing market for buyers varies around the country, and a new report suggests there are currently only eight metro areas that are truly buyer’s markets. The economist research team at Realtor.com released a diagnostic tool called the Market Clock that tracks the housing market at…
Assets under management for U.S. exchange-traded funds could more than double to $25 trillion by the end of this decade, Citigroup said on Thursday, as investors seek the increasingly popular asset class for low-cost, diversified exposure across markets. As of March 2025, the U.S.-listed ETF industry’s total assets stood at…
This story on the March 2026 CPI inflation report is developing and will be updated with further details. Inflation surged in March as consumer prices jumped amid the economic disruptions caused by the Iran war’s impact on the energy market.The Bureau of Labor Statistics on Friday said that the consumer price…
The United States Postal Service is suspending employer pension contributions for workers beginning Friday, citing a looming cash shortfall, the agency announced Thursday. The move, which affects the Federal Employees Retirement System (FERS), comes just weeks after the Postal Service warned Congress it could run out of cash in under…
American homeowners around the country are feeling the squeeze of higher property taxes, with new data showing that the property tax burden rose last year. Data from analytics firm ATTOM showed that the effective tax rate for single-family homes was 0.9% in 2025, up from 0.86% in 2024 and the…
This story about the February 2026 PCE inflation is developing and will be updated with more details. The Federal Reserve’s preferred inflation gauge remained stubbornly high in February as consumers continued to face elevated price growth.The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.4% on a…
Mortgage rates fell this week after President Donald Trump announced a two-week ceasefire between the U.S. and Iran, mortgage buyer Freddie Mac said Thursday.Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage declined to 6.37% from last week’s reading of…
Amazon is signaling a major shift in how it plans to serve customers, starting with rewriting parts of its own playbook. CEO Andy Jassy released his annual letter to shareholders on Thursday, writing that the tech giant is not content to simply add artificial intelligence features to its existing retail…
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