Netflix executives messaged Thursday that all is well with the business in the face of economic turbulence. But its full-year outlook tells a slightly more nuanced story. Netflix posted a big…
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Capital One Financial’s application to acquire Discover Financial Services in a $35.3 billion all-stock deal has officially been approved by the Federal Reserve and the Office of the Comptroller of the Currency, the regulators announced on Friday.…
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Business
Hermès to hike U.S. prices for iconic bags and scarves in response to Trump tariffs
by adminFrench luxury group Hermès will raise its U.S. prices from the start of May in order to offset the impact of President Donald Trump’s tariffs, the company’s finance chief said Thursday. The…
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Business
Temu slashes U.S. ad spending, plummets in App Store rankings after Trump China tariffs
by adminChinese online retailer Temu, whose “Shop like a billionaire” marketing campaign made its way to last year’s Super Bowl, has dramatically slashed its online ad spending in the U.S. and seen…
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Universal’s new Epic Universe park set to generate $2 billion for Florida in year one
by adminEpic things are coming to Orlando. In a little more than a month, Universal will officially open the doors of its newest theme park, the first major theme park in the Florida…
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Cash App owner Block pays $40 million in settlement over ‘serious compliance deficiencies’
by adminNew York state’s top financial regulator struck a $40 million settlement Thursday with Block Inc., the parent of Cash App, the popular money transmission service, after having found the company…
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Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.…
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Business
Buffett denies rumors after Trump shares wild claim that investor backs president crashing market
by adminWarren Buffett went on the record Friday to deny social media posts after President Donald Trump shared on Truth Social a fan video that claimed the president is tanking the…
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Retailers and brands have turned to Vietnam to manufacture goods from sneakers to couches while moving some or all production out of China. For years, China’s southern neighbor became a…
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Meta’s head of artificial intelligence research announced Tuesday that she will be leaving the company. Joelle Pineau, the company’s vice president of AI research, announced her departure in a LinkedIn post, saying…
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Hollywood’s blockbuster slate is heating up, and AMC Entertainment is increasing the number of its premium screens to meet demand. The world’s largest cinema chain is adding 40 Dolby Cinema theaters to its U.S.-based AMC locations…
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President Donald Trump commuted the criminal sentence of Ozy Media founder Carlos Watson on Friday, just hours before Watson was due to begin serving a 116-month prison term for a multi-million-dollar scheme that included falsely claiming…
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The Federal Communications Commission has alerted the Walt Disney Company and its ABC unit that it will begin an investigation into the diversity, equity and inclusion efforts at the media giant. The FCC,…
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Oil executives are warning that President Donald Trump’s tariffs and “drill, baby, drill” message have created uncertainty in energy markets that is already affecting investment. The executives, shielded by anonymity, bluntly…
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Business
Affirm announces JPMorgan Chase merchants can now offer installment loans at checkout
by adminFintech lender Affirm said Tuesday that it’s reached an agreement with JPMorgan Chase to offer its buy now, pay later loan services to merchants on the bank’s payments network. U.S. merchants who use JPMorgan…
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Business
‘Eat now, pay later’? DoorDash-Klarna deal fuels concerns around loans for takeout
by adminDoorDash and Klarna are joining forces to let users pay for meal deliveries with installment loans, calling it “essential to meeting our customers’ needs.” Not everyone sees it that way.…