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Nike's new CEO, Elliott Hill, has announced a fresh strategy to restore the company’s growth after declining revenue and profit were attributed to excessive discounting. On Thursday, Hill outlined his approach, emphasizing a return to full-price sales online and plans to aggressively liquidate old inventory through less profitable channels. Elli…

Thousands of Amazon workers across four states have gone on strike during the peak holiday season, just days before Christmas. While the company maintains that the strike will not affect its holiday deliveries, the walkout sheds light on labor disputes concerning wages, benefits, and employment classification. The Teamsters union, which represen…

The Dow Jones Industrial Average plunged on Wednesday, closing by over 1,100 points, or 2.6%, following a disappointing outlook from the Federal Reserve. This sharp decline extended the blue-chip index’s losing streak to 10 consecutive days—the longest streak since 1974 when Gerald Ford was the U.S. president. Fed's Projections Trigger Market Se…

The Fed interest rate decision is set to be significant, sparking anticipation and debate over its next steps in managing the U.S. economy. With inflation remaining above target, economic growth at approximately 3%, and a resilient labor market, many would assume the central bank might either raise interest rates or keep them steady. However, marke…

Broadcom CEO Hock Tan states that Broadcom’s rapid ascent in the AI technology sector continues to gain momentum, with its market capitalization surpassing $1 trillion. The company’s exceptional performance in 2024, including a 118% rise in stock value driven by advancements in artificial intelligence, positions it as one of the standout players of…

China’s November retail sales growth fell short of expectations, showing further signs of strain in the economy as the country’s prolonged real estate crisis deepened. This underperformance highlights the continued struggles Beijing faces in its efforts to revive domestic demand and boost economic growth. The Slowdown in Retail Sales China’s …

Warner Bros. Discovery has announced a major restructuring of its corporate operations, separating its cable networks from its expanding streaming business. The company, which owns CNN along with other media assets, revealed the new structure on Thursday, boosting its stock price by more than 15% by the end of the day. New Operating Divisions …

ServiceTitan, a provider of cloud software solutions for contractors, experienced a strong debut on the Nasdaq stock exchange on Thursday. The company’s shares surged by 42%, closing at $101, after being priced at $71 per share in its initial public offering (IPO). The IPO raised approximately $625 million, and the company ended its first trading d…

Major Distributor Under Legal Scrutiny The Federal Trade Commission (FTC) has filed a lawsuit against the largest U.S. distributor of wine and spirits, accusing the company of illegal price discrimination that favored large retail chains like Costco, Kroger, and Total Wine & More. According to the FTC, these chains received much better prici…

Inflation rises in November, with consumer prices rising 2.7% over the past year, according to the latest Consumer Price Index (CPI) data released by the Bureau of Labor Statistics. This marks an increase from the 2.6% annual rise recorded in October and the highest annual rate since July. Every month, prices rose 0.3%, following four consecutive m…