Levi Strauss plans to cut at least 10% of corporate workforce
Jeans are displayed at a Levi Strauss store in New York, March 19, 2019. Shannon Stapleton | Reuters Levi Strauss will lay off at least 10% of its global corporate workforce as part of a restructuring, the apparel retailer said Thursday as it said it expected weaker sales this year. The job cuts will take […]
Mortgage rates will fall below 6% and the U.S. will avoid recession: Fannie Mae
There’s good news for aspiring homeowners — the 30-year mortgage rate is expected to fall below 6% by the end of 2024, and the U.S. economy will escape a recession, according to a new forecast by Fannie Mae. In its January forecast, the housing-finance giant laid out why it expects mortgage rates to dip and […]
JPMorgan Chase shuffles top leaders under Jamie Dimon
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC JPMorgan Chase on Thursday said several executives considered frontrunners to one day take over for CEO Jamie Dimon had new or expanded roles. […]
Utz voluntarily recalls 88 cases of milk-contaminated potato chips
Utz Brands’ UTZ, +3.15% subsidiary issued a voluntary recall of 88 cases of potato chips on Thursday due to an undeclared milk contamination. Utz Quality Foods, based in Hanover, Pa., said it learned that about 1,200 single-serve bags with Utz Wavy Original Potato Chips were flavored with seasoning instead of the plain version of the […]
GM Cruise probe finds poor leadership at center of accident response
Chevrolet Cruise autonomous vehicles sit parked in a lot in San Francisco, June 8, 2023. Justin Sullivan | Getty Images News | Getty Images Culture issues, ineptitude and poor leadership at General Motors’ Cruise autonomous vehicle unit were at the center of regulatory oversights and coverup concerns that have plagued the company since October, according […]
Intel’s earnings forecast comes up well short, and stock tanks 11%
Intel Corp.’s stock hasn’t seen a double-digit percentage decline in more than two years. But it might break that streak after a downbeat earnings forecast. The company late Thursday issued an outlook for first-quarter adjusted earnings per share of 13 cents on revenue of $12.2 billion to $13.2 billion. Both forecasts came up well shy […]
Arkhouse Macy’s take-private financing is in place, Kahane says
Arkhouse has the financing in place to take Macy’s private at a bid of $5.8 billion, managing partner Gavriel Kahane told CNBC Thursday, but the activist investor has run into roadblocks without the department store retailer’s cooperation on due diligence. “At this stage, based on public information, there isn’t a bank in the world that […]
WWE boss Vince McMahon sued over alleged sexual assault, trafficking
Vince McMahon attends a press conference at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. Michael N. Todaro | Getty Images WWE boss Vince McMahon was accused Thursday of sexual assault, trafficking, and physical and emotional abuse in a graphic lawsuit by a woman who previously worked for the pro wrestling giant. […]
Here’s why Biden may not get a political lift from strong GDP growth
The U.S. economy scored another good grade Thursday, showing stronger-than-expected growth of 3.3% in gross domestic product for the fourth quarter. President Joe Biden and his allies were quick to celebrate the GDP number, but it’s easy to imagine that it’ll end up as just another economic indicator that doesn’t do much for his job-approval […]
Southwest Airlines takes Boeing Max 7 out of fleet plan for 2024
Southwest Airlines ranked as the second-best domestic airline, according to Bounce’s 2023 Airline Index. Aaronp/bauer-griffin | Gc Images | Getty Images Southwest Airlines has taken the Boeing 737 Max 7 out of its fleet plans as regulators haven’t yet certified the smallest model of the manufacturer’s bestselling plane. Southwest became the latest of the major […]
