Breaking News: Business
Tiger Global drops 14% in May during the tech sell-off, pushing hedge fund’s 2022 losses to over 50%
Chase Coleman’s Tiger Global Management suffered huge losses in May amid a tech-driven sell-off, making the hedge fund’s tough 2022 even worse. The growth-focused flagship fund at Tiger Global tumbled 14.3% in May, bringing its 2022 losses to over 50%, a source familiar with the return told CNBC’s David Faber. “Our recent public fund performance […]
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Starbucks union creates $1 million fund to cover lost pay for striking baristas
A protester waves a sign that read "unionize" near the Country Club Plaza Starbucks store where dozens of Starbucks employees and union supporters protested alleged anti-union tactics by the company Thursday, March 3, 2022. Jill Toyoshiba | Tribune News Service | Getty Images The union backing organizing efforts at Starbucks is creating a $1 million […]
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Reckitt says baby formula plants in Singapore and Mexico can produce 21 million bottles for U.S. if FDA approves
Robert Cleveland, senior vice president of nutrition for North America and Europe at Reckitt, speaks via video conference during a House Commerce Subcommittee hearing in Washington, D.C., on Wednesday, May 25, 2022. Sarah Silbiger | Bloomberg | Getty Images Baby formula manufacturer Reckitt has the capacity to produce at least 21 million 8-ounce bottles of […]
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Star Wars is mostly TV now — and the Disney franchise’s often-fractured fanbase is cool with that
Ewan McGregor reprises his role as Obi-Wan Kenobi in the new Disney+ series “Obi-Wan Kenobi.” Disney ANAHEIM, California — By the time Oscar-winning filmmaker Taika Waititi’s untitled Star Wars film is set to hit theaters in late 2023, it will have been four years since a tale from a galaxy far, far way has been […]
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GM slashes prices of Chevy Bolt electric vehicles despite rising commodity costs
2022 BOLT EUV Source: Chevrolet DETROIT – Despite rising commodity costs, General Motors on Wednesday slashed the price of its 2023 Chevrolet Bolt EV, likely making it the least expensive electric vehicle on sale in the U.S. The Detroit automaker cut the cost of the Bolt EV to a starting price of $26,595, down $5,900 […]
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Ford CEO expects to see industry consolidation as the costs of transition to electric vehicles rise
Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022. Rebecca Cook | Reuters DETROIT — Ford Motor CEO Jim Farley expects the auto industry’s ongoing transition to electric vehicles to force major consolidation […]
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United Airlines plans $100 million expansion of pilot training center during hiring spree
A United Airlines passenger aircraft prepares to leave its gate and taxi to the runway at San Francisco International Airport in San Francisco, California. Robert Alexander | Getty Images United Airlines plans to break ground Wednesday on an expansion of its training center in Denver, an initiative aimed at getting thousands of pilots ready to […]
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Levi Strauss boosts sales outlook for next five years, banking on e-commerce strength
A sign is posted in front of the Levi Strauss & Co. headquarters on April 09, 2021 in San Francisco, California. Justin Sullivan | Getty Images News | Getty Images Levi Strauss & Co. on Wednesday maintained its outlook for the full year and boosted its financial targets over the next five years as the […]
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SeatGeek terminates deal to go public with Billy Beane’s SPAC due to market volatility
General Manager Billy Beane of the Oakland Athletics. Michael Zagaris | Oakland Athletics | Getty Images Ticketing platform SeatGeek and black-check firm RedBall Acquisition Corp. decided to terminate their $1.35 billion take-public deal amid a roller-coaster market. The move was a result of current unfavorable market conditions, particularly impacting growth technology companies, according to SeatGeek […]
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WHO says monkeypox has been spreading undetected as global cases rise to more than 550
In this photo illustration, a photo of a hand infected with the Monkeypox virus is seen through a magnifying glass. Monkeypox is a viral disease that occurs mainly in central and western Africa. Rafael Henrique | Lightrocket | Getty Images The World Health Organization on Wednesday confirmed more than 550 monkeypox cases across 30 countries […]
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