business news
Meta lost $2.8 billion on its virtual reality ambitions during Q2
Mark Zuckerberg, CEO of Facebook, speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, in New York on Oct. 28, 2021. Michael Nagle | Bloomberg | Getty Images Facebook parent Meta lost $2.81 billion on $452 million in revenue from its virtual reality division, Reality Labs, during the quarter […]
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Meta gets new CFO as David Wehner moves to chief strategy officer role
David Wehner, CFO at Meta Harriet Taylor | CNBC Meta CFO David Wehner will take on a new role as the company’s first chief strategy officer, starting Nov. 1, according to the company’s second-quarter earnings report. Susan Li, Meta’s current vice president of finance, will be the Facebook parent’s new chief financial officer Shares of […]
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Best Buy cuts forecast for fiscal year, citing weaker demand
Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Scott Olson | Getty Images Best Buy on Wednesday cut its forecast for the year and the second quarter, saying it has seen weaker demand for consumer electronics amid inflation. Shares recovered after initially dropping more than 10% following the announcement. […]
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Spirit terminates merger agreement with Frontier that was marred by JetBlue’s rival bid
A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis, Indiana, on Monday, Feb. 7, 2022. Luke Sharrett | Bloomberg | Getty Images Spirit Airlines terminated its merger agreement with Frontier Airlines on Wednesday, months after rival suitor JetBlue Airways’ all-cash bid threw the planned tie-up into disarray. Shareholders […]
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Meta reports earnings miss and forecasts second consecutive quarter of declining revenue
People take photos of the new “Meta” sign at the One Hacker Way in Menlo Park, as Facebook changes its company name to Meta in California, on October 28, 2021. Tayfun Coskun | Anadolu Agency | Getty Images Facebook parent Meta reported a steeper-than-expected drop in revenue, missed on earnings and issued a surprisingly weak […]
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‘Jeopardy!’ locks in hosting deals for Mayim Bialik and Ken Jennings
Mayim Bialik attends Marvel Studios “Doctor Strange in the Multiverse of Madness” Premiere at El Capitan Theatre on May 02, 2022 in Los Angeles, California. Axelle | Bauer-Griffin | FilmMagic | Getty Images Mayim Bialik and Ken Jennings have signed deals to split hosting duties for “Jeopardy!,” according to a statement from executive producer Michael […]
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Google delays cookie-cutting to 2024
LOS ANGELES, CALIFORNIA – JUNE 09: Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. The CEO Summit entered its second day of events with a formal signing for the “International Coalition to Connect […]
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Biden administration makes offer to Russia for release of WNBA star Griner, ex-Marine Whelan
US WNBA basketball superstar Brittney Griner arrives to a hearing at the Khimki Court, outside Moscow on July 27, 2022. Kirill Kudryavtsev | AFP | Getty Images WASHINGTON – The United States has made an offer to the Russian government for the release of WNBA star Brittney Griner and former U.S. Marine Paul Whelan, Secretary of […]
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Ford Motor will report its second-quarter results after the bell
Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland Ford Motor Company will report its second-quarter earnings shortly after the U.S. markets close today. Here’s what Wall Street is expecting. Adjusted earnings per share: $0.45, according to Refinitiv estimates. […]
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Fed Chair Jerome Powell said he does not think the U.S. is currently in a recession
This is a developing story. Check back for updates. Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, July 27, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell said on Wednesday he does […]
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