Month: May 2022
Wayfair loses customers and money in a messy quarter, announces its CFO will retire
Niraj Shah, CEO, Wayfair Ashlee Espinal | CNBC Wayfair shares tumbled 26% Thursday after the online furniture retailer reported larger-than-expected losses in the first quarter as shoppers scaled back their spending on the home category. Wayfair also announced its chief financial officer, Michael Fleisher, is set to retire early next year. Kate Gulliver, current chief […]
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Karine Jean-Pierre to replace Jen Psaki as White House press secretary
Principal Deputy Press Secretary Karine Jean-Pierre holds a media briefing at the White House in Washington, U.S., July 29, 2021. Evelyn Hockstein | Reuters WASHINGTON — President Joe Biden announced Thursday that he has named Karine Jean-Pierre to be the next White House press secretary. Jean-Pierre currently serves as principal deputy press secretary. Starting May […]
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GOP Rep. Cawthorn calls leaked nude video ‘blackmail,’ says he was just ‘being crass with a friend’
U.S. Rep. Madison Cawthorn of North Carolina speaks at the Conservative Political Action Conference (CPAC) in Orlando, Florida, U.S. February 26, 2021. Octavio Jones | Reuters Embattled U.S. Rep. Madison Cawthorn vowed that “blackmail won’t win” after an opposition group released a video appearing to show the North Carolina Republican naked in a bed and […]
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Stacey Abrams on why companies shouldn’t always speak out on political issues
Companies are under intense pressure to speak out on a variety of political issues at local, state and national levels. Whether it is police action in a city, Disney in Florida, or the likely wave of calls for more business response to the bombshell leak in the Roe v. Wade Supreme Court case, the current […]
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Union leader slams Amazon’s labor practices at Senate hearing
Christian Smalls, founder of the Amazon Labor Union (ALU), speaks during a Senate Budget Committee hearing in Washington, D.C., U.S., on Thursday, May 5, 2022. The hearing is titled “Should Taxpayer Dollars Go to Companies that Violate Labor Laws?” Eric Lee | Bloomberg | Getty Images Chris Smalls, a former Amazon worker and leader of […]
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Why the market is taking Powell’s ‘soft-ish’ economic language so hard: Former Fed official Roger Ferguson
Roger Ferguson Michael Nagle | Bloomberg | Getty Images Anyone who read a Fed chair coining the term “soft-ish” for an economic landing, as Jerome Powell did on Wednesday, as a bullish signal, has a transitory understanding of how much significance to give to any single day’s trading action. Stocks tanked on Thursday after the […]
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Separatist politician says Spain’s spy chief admitted legally hacking some phones
A leading Catalan separatist politician said Thursday that Spain’s top intelligence official acknowledged that her agency had hacked into the cellphones of “some” of the dozens of politicians reported to be targeted by spyware but she said it had proper judicial authorization. Gabriel Rufián, member of a Catalan pro-independence party, spoke after he participated in […]
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Spirit CEO says he wonders whether JetBlue’s bid was meant to block Frontier deal
A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images) Joe Cavaretta | Sun Sentinel | Getty Images Spirit Airlines CEO Ted Christie on Thursday laid bare the reasons his company rejected JetBlue Airways’ […]
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Stocks making the biggest moves midday: Shopify, Etsy, Twitter and more
Elon Musk twitter account is seen through Twitter logo in this illustration taken, April 25, 2022. Dado Ruvic | Reuters Check out the companies making headlines in midday trading Thursday: EPAM Systems — Shares jumped 10% after the computer software company posted better-than-expected results for the previous quarter. EPAM reported $2.49 earnings per share on […]
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British pound plummets as Bank of England warns of recession risk
Sterling notes and coins are laid out Matt Cardy | Getty Images The British pound on Thursday was set for its largest daily drop since the onset of the coronavirus pandemic, after the Bank of England warned of a sharp growth slowdown in the U.K. economy. Sterling hit a low of 1.2393 against the dollar […]
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