Hamptons La Dune mansion once listed for $150 million sells at auction
A Hamptons estate that once listed for $150 million before falling into bankruptcy was sold at auction Wednesday for $88.5 million. The four-acre estate in Southampton, New York, known as La Dune, was sold by Concierge Auctions at a starting bid of $66 million. The property was sold in two parts — one house sold […]
Levi’s is moving into ‘tech pants’ and other new offerings this year
With a rough 2023 in the rearview mirror, Levi Strauss & Co. this year is trying to tackle its problems with new pants. That includes jeans with lighter-weight denim; pants for women that can be worn as high-rise or low-rise; and even non-denim pants that management, during Levi’s LEVI, +1.27% earnings call on Thursday, referred […]
Paramount CEO Bob Bakish announces layoffs
Paramount executive Bob Bakish attends the 2022 MTV Europe Music Awards (EMAs) at the PSD Bank Dome in Duesseldorf, Germany, November 13, 2022. Thilo Schmuelgen | Reuters Paramount CEO Bob Bakish announced layoffs at the media company Thursday, citing a need to “operate as a leaner company and spend less.” “Our priority is to drive […]
The U.S. dollar had a strong start to 2024. Here’s why it’s unlikely to last.
The U.S. dollar has had a relatively strong start to 2024 — but some analysts believe the greenback is still more likely than not to depreciate over the course of this year. The ICE U.S. Dollar Index DXY, which tracks the currency against a basket of six major rivals, has climbed about 2.1% so far […]
Humana reports grim 2024 forecast due to soaring medical costs
A Humana Inc. office building in Louisville, Kentucky, Feb. 3, 2019. Bloomberg | Bloomberg | Getty Images Shares of Humana plummeted Thursday after the health insurer issued dismal full-year earnings guidance, citing soaring medical costs that are dogging the broader insurance industry. Those expenses have spiked as an increasing number of older adults return to […]
Merck, J&J CEOs agree to testify in Senate hearing on drug prices
Sen. Bernie Sanders, I-Vt., holds his news conference with Sen. Ed Markey, D-Mass., in the Capitol on Thursday, January 25, 2024, on issuing subpoenas for pharmaceutical company CEOs to testify regarding drug prices. Bill Clark | Cq-roll Call, Inc. | Getty Images The CEOs of Merck and Johnson & Johnson have voluntarily agreed to testify […]
AI ‘baby bubble’ in stocks? BofA says higher real rates are needed to pop it.
A “baby bubble” is forming in the U.S. stock market, fueled by “monopolistic tech” and investor enthusiasm around artificial intelligence, according to BofA Global Research. The AI bubble is “front running” interest-rate cuts by the Federal Reserve, investment strategists at BofA warned in a research note dated Jan. 25. Many investors expect that the Fed […]
American Airlines (AAL) Q4 2023 earnings
American Airlines on Thursday posted a $19 million profit for the last three months of 2023, topping Wall Street estimates on the top and bottom lines. Shares of the company rose more than 10% on Thursday. Here’s how American performed in the fourth quarter of 2023 compared with Wall Street estimates compiled by LSEG, formerly […]
Amex’s stock soars toward record as affluent spenders drive growth
American Express Co. saw net write-offs increase slightly in the latest quarter relative to a year before, but the company on Friday still came in ahead of Wall Street expectations with its financial forecasts for 2024. Shares were rocketing 8.7% in morning trading Friday and on pace for their largest single-day percentage gain since they […]
Retail CEO turnover soars, fewer women hold CEO jobs
Michelle Gass, chief executive officer of Kohls Corp., at the National Retail Federation Inc. annual honors in New York, Jan. 12, 2020. Bess Adler | Bloomberg | Getty Images Turnover in C-suites spiked across industries last year — and in retail in particular. Next week, new CEOs will take over at both Levi Strauss and […]
