Shein IPO: Lawmakers scrutinize forced labor
Lawmakers are ramping up their scrutiny of Shein after it confidentially filed to go public last week. One congressman who sits on a key committee is even threatening to pursue legislation to bar the retailer from trading if the U.S. Securities and Exchange Commission doesn’t reject its application. Rep. Blaine Luetkemeyer, R-Mo., issued a video […]
Activist investor urges Disney to add Nelson Peltz to board
Disney World’s Magic Kingdom in Orlando, Florida. Joe Raedle | Getty Images News | Getty Images Activist investor Ancora on Tuesday urged Disney to put Nelson Peltz on its board, days after Peltz and his firm, Trian, launched a proxy fight with the entertainment giant. “In an effort to avert an election contest following a […]
BOJ’s Himino says smooth exit from monetary easing is possible
The Bank of Japan can make a smooth exit from monetary easing once sustainable 2% inflation is achieved, but it needs to keep policy loose for now, Deputy Gov. Ryozo Himino said Wednesday. “The Bank of Japan should carefully monitor the evolution of wages and prices, judge the timing of the exit and design its […]
CVS to change how it prices prescription drugs
A person walks by a CVS pharmacy store in Manhattan, New York, U.S., November 15, 2021. Andrew Kelly | Reuters CVS Health on Tuesday said it will revamp how it prices prescription drugs and scrap a complex model that typically sets how much pharmacies get reimbursed and what patients pay for those medications. The new […]
Toll Brothers sells fewer homes, but builder ‘encouraged’ by lower mortgage rates
Toll Brothers Inc. late Tuesday reported shrinking quarterly profit and revenue, but the builder said it was “encouraged” by lower mortgage rates and that it has broadened its appeal to buyers. Toll Brothers TOL, earned $445.5 million, or $4.11 a share, in the fourth quarter, compared with $640.5 million, or $5.63 a share, in the […]
Charter shares plunge after CFO says company may lose broadband subs
Sopa Images | Lightrocket | Getty Images Charter shares plunged more than 8% on Tuesday after its CFO Jessica Fischer said the company could lose broadband subscribers in the fourth quarter. Charter competitor Comcast‘s stock also slipped more than 3% in midday trading. “I can certainly see that it’s likely that we could end up […]
DSW parent DBI’s stock craters as earnings are hurt by shrinking demand for footwear
Designer Brands Inc.’s stock slid 34% Tuesday, after the parent to footwear brands including DSW, Keds, Lucky Brand and Vince Camuto posted weaker-than-expected third-quarter earnings and cut its guidance. Columbus, Ohio-based Designer Brands DBI, -32.59% said it was hurt by a footwear market that contracted for the first time since the pandemic amid unseasonably warm […]
Wells Fargo CEO warns of severance costs as layoffs loom
Charlie Scharf, CEO, Wells Fargo, speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. Patrick T. Fallon | Afp | Getty Images Wells Fargo CEO Charlie Scharf said Tuesday that low staff turnover means […]
Annuities: people are willing to pay for products with lifetime benefits
My colleagues, Karolos Arapakis and Gal Wettstein, have just published a really interesting paper on the “annuity puzzle.” That is, while economic models predict that many people would be better off with annuities, only a small portion of retirees actually hold an annuity. Economists have spent the last few decades identifying reasons why individuals might […]
Miriam Adelson makes play for Texas with Mavericks deal
Miriam Adelson speaks onstage during the 24th annual Keep Memory Alive benefit for the Cleveland Clinic Lou Ruvo Center for Brain Health at MGM Grand Garden Arena on March 7, 2020, in Las Vegas, Nevada. (Photo by Denise Truscello/Getty Images for Keep Memory Alive) Denise Truscello | Getty Images News that Miriam Adelson and her […]
