Breaking News: Business
Dick’s Sporting Goods to acquire Foot Locker for $2.4 billion in effort to corner Nike market
Dick’s Sporting Goods said Thursday it plans to acquire rival Foot Locker as it looks to expand its international presence, win over a new set of consumers and corner the Nike sneaker market. Under the terms of the agreement, Dick’s will use a combination of cash-on-hand and new debt to acquire Foot Locker for $2.4 […]
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UnitedHealth Group shares plunge 18% on reported DOJ probe into possible Medicare fraud
Bloomberg | Bloomberg | Getty Images Shares of UnitedHealth Group plunged more than 18% on Thursday following a report that the Justice Department is conducting a criminal investigation into the health-care giant over possible Medicare fraud. The DOJ is focusing on the company’s Medicare Advantage business practices, but the exact nature of the potential criminal […]
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‘Shark Tank’ alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots
Bombas Socks in store. Courtesy: Bombas Bombas founder David Heath is stepping down from his role as CEO as the socks and apparel company looks to expand beyond its direct-to-consumer roots. Bombas President Jason LaRose, a former Under Armour and Equinox executive, will take over as the company’s next CEO effective Thursday. Heath said he […]
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Walmart will report earnings before the bell. Here’s what to expect
People shop at a Walmart in Rosemead, California, on April 11, 2025. Frederic J. Brown | Afp | Getty Images Walmart will report its quarterly earnings before the bell on Thursday, as investors and economists gauge the strength of the U.S. consumer and the impact of higher tariffs on the retail industry. Here’s what Wall […]
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Steve Cohen says stocks could retest their April lows, sees a 45% chance of recession
Steve Cohen said Wednesday he sees the possibility that stocks could retest their lows from April following the market’s dramatic comeback. “I don’t expect, you know, a significant decline. I think this is possible we can go back toward the lows which is 10%, 15% [from here] so it’s not a calamity,” the founder of […]
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Warren Buffett tells WSJ he stepped aside as CEO after finally feeling old
Warren Buffett does a walkthrough of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2025. David A. Grogen | CNBC Age isn’t just a number for Warren Buffett after all. The 94-year-old investment legend recently surprised shareholders by announcing his intention to step down as Berkshire Hathaway CEO after an epic […]
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Netflix says its ad tier now has 94 million monthly active users
Netflix said Wednesday its cheaper, ad-supported tier now has 94 million monthly active users — an increase of more than 20 million since its last public tally in November. The company and its peers have been increasingly leaning on advertising to boost the profitability of their streaming products. Netflix first introduced the ad-supported plan in […]
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WBD is renaming streamer Max as HBO Max, again
Scene from season 3 of White Lotus. Source: HBO HBO became HBO Max became Max. Now, it will be HBO Max once more. Warner Bros. Discovery is renaming its streaming platform again starting this summer, restoring a name it ditched just two years ago. The company announced the rebranding Wednesday during its upfront presentation in […]
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Video podcasts are having a moment at media upfronts
Jason and Travis Kelce with Dunkin Donuts on the New Heights podcast. Courtesy: Wondery Amazon’s second-ever Upfronts pitch to advertisers this week featured an appearance by NFL champion brothers Jason and Travis Kelce. They weren’t there to hype live football rights. While Amazon’s Prime owns the media rights to the NFL’s Thursday Night Football games […]
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Embattled Burberry to cut 1,700 jobs amid turnaround
An Equestrian Knight Device logo on a flag outside the Burberry Group Plc luxury boutique in London, UK, on Tuesday, May 13, 2025. Bloomberg | Getty Images Burberry on Wednesday announced a slew of organizational changes, amid continued turnaround efforts at the embattled luxury house. The company said the measures could lead to a “reduction […]
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