Business
Mattel shares tumble after holiday quarter fails to boost sagging sales
The Mattel company logo is pictured during the inauguration of the expansion of the Montoi plant, in Escobedo, Mexico March 15, 2022. Daniel Becerril | Reuters Barbie-maker Mattel posted fourth-quarter results after market close on Wednesday that came in well below Wall Street’s expectations after holiday sales failed to offset slowing consumer demand. CFO Anthony […]
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Disney will reorganize into three divisions as it slashes costs and cuts 7,000 jobs
Disney World celebrated its 50th anniversary in April 2022. Aaronp/bauer-griffin | Gc Images | Getty Images Disney said Wednesday it is planning to reorganize into three segments, while also cutting thousands of jobs and slashing costs. The media and entertainment giant said it would now be made up of three divisions: Disney Entertainment, which includes […]
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Disney earnings are out — here are the numbers
Bob Iger poses with Mickey Mouse attends Mickey’s 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles. Valerie Macon | AFP | Getty Images LOS ANGELES – Disney reported earnings after the bell. Here are the results. Earnings per share: 99 cents per share, adj. vs 78 cents per share expected, according […]
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SpaceX prepares for a massive test this week: Firing all 33 Starship engines at once
Starship prototype 24 stacked on top of Super Heavy booster prototype 7 at the company’s facility near Brownsville, Texas on January 9, 2023. SpaceX WASHINGTON – SpaceX President Gwynne Shotwell said Wednesday the company plans to attempt a major Starship milestone this week. SpaceX on Thursday will attempt a “static fire,” simultaneously testing all 33 […]
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Biden pushed a billionaire minimum tax – here’s what Elon Musk would pay
Elon Musk attends the 2022 Met Gala at the Metropolitan Museum of Art. Angela Weiss | AFP | Getty Images President Joe Biden drew loud cheers during his State of the Union address Tuesday night when he proposed a new tax on the rich. “Pass my proposal for a billionaire minimum tax,” Biden told Congress. […]
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These 10 metro areas are the most ‘rent burdened’ in the U.S. — New York City comes in at No. 1
Spencer Platt | Getty Images News | Getty Images New York is the most rent-burdened metro area in the U.S., according to a new report from Moody’s Analytics. A household with the median income in the Big Apple would need to pay nearly 69% of earnings to rent the averaged-priced apartment there, the research division […]
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Why Dick’s Sporting Goods succeeded where Sports Authority failed
In 2022, the sporting goods business had an estimated market size of $67.2 billion and was enjoying its ranking as one of the fastest-growing industries in the U.S. since 2018. The most significant player in the space, Dick’s Sporting Goods, controls an estimated 14.2% of the market, the most by a single company. In 2021, […]
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Communities struggling with banking access give banks on wheels a spin
A banking van for the Lower East Side People’s Federal Credit Union parked on the curb of West Tremont Avenue in The Bronx. Rebecca Picciotti | CNBC NEW YORK – Parked on the curb of West Tremont Avenue in the Bronx, amid a chain of sedans and minivans, there is sometimes a bank on wheels. […]
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Movie theaters get creative with food and drink as they struggle to fill seats
The AMC Empire 25 near Times Square is open as New York City’s cinemas reopen for the first time in a year following the coronavirus shutdown, on March 5, 2021. Angela Weiss | AFP | Getty Images Movie theaters have struggled to fill seats during the Covid pandemic, but some are facing another problem — […]
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Michael Kors owner Capri shares plunge after revenue falls across the retailer’s luxury brands
A general view outside of a Michael Kors location Christopher Jue | Michael Kors | Getty Images Shares of Michael Kors owner Capri Holdings plunged 20% in early trading Wednesday after the company missed earnings expectations and cut its annual profit forecast. High-end fashion companies outperformed many other industries last year amid decades-high inflation, but […]
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