Adidas to cut up to 500 jobs after posting better-than-expected holiday profits
Adidas plans to cut as many as 500 jobs in a bid to simplify its business, a person familiar with the matter confirmed to CNBC on Thursday. The layoffs will affect…
Universal’s ‘Wicked: For Good’ creates a unique marketing challenge
Universal is hoping the excitement around “Wicked” can hang around — for good. The movie studio faces a unique challenge: promote and release two build-on films just one year apart. Part…
American Express CFO says spending picked up at year-end, thanks to millennials and Gen Z
American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC. Spending on AmEx cards jumped 8% year over year in the fourth…
Target rolls back DEI initiatives, the latest big company to retreat
Target on Friday said it’s rolling back diversity, equity and inclusion programs — including some that aim to make its workforce and merchandise better reflect its customers. In a memo sent…
UnitedHealthcare taps company veteran Tim Noel as new CEO following Brian Thompson killing
UnitedHealthcare on Thursday tapped company veteran Tim Noel as its new CEO following the targeted killing of its former top executive, Brian Thompson, in Manhattan in December. Noel was the head of…
Store closures hit highest level since pandemic — see who’s shutting down the most locations
Store closures in the U.S. last year hit the highest level since the pandemic — and even more locations are expected to shutter this year, as shoppers’ dollars increasingly go…
Elon Musk and Sam Altman spar over Trump’s Stargate AI investment announcement
A war of words between Elon Musk and Sam Altman escalated on social media Thursday, as two of the most powerful men in tech sparred over their rival artificial intelligence initiatives. …
JPMorgan Chase CEO Jamie Dimon on Trump tariffs: ‘Get over it’
JPMorgan Chase CEO Jamie Dimon said Wednesday that the looming tariffs that President Donald Trump is expected to slap on U.S. trading partners could be viewed positively. Despite fears that the duties could spark a…
OpenAI introduces Operator to automate tasks like vacation planning, restaurant reservations
OpenAI is taking its ChatGPT chatbot to the next level, adding a feature to automate tasks like planning vacations, filling out forms, making restaurant reservations and ordering groceries. The tool,…
Retail crime ‘queenpin’ to pay millions in restitution to retailers for theft ring
The California mom who pleaded guilty to running an organized retail crime ring that stole millions of dollars in beauty products from Ulta Beauty and Sephora to resell on Amazon will now have to…