The price of jet fuel is twice as much as it was last year, according to federal data – an ominous sign for cash-strapped summer revelers ahead of what is expected to be a busy travel season. The spot price for jet fuel was $3.517 per gallon as of Monday, according to data from the … Read more
Several companies have recalled products that contain Jif peanut butter amid an outbreak of salmonella infections. Ten companies have already announced that they are pulling products from shelves since J.M. Smucker Co. issued a recall last Friday for Jif peanut butter products sold nationwide because of potential salmonella contamination. Over the past two days, eight new entries have been added to the … Read more
MSNBC’s key 9 p.m. ET primetime weeknight slot has been mired in a ratings slump since “The Rachel Maddow” show shifted to a once-per-week format, according to Nielsen data. Since the start of the month, the left-leaning network has aired “MSNBC Prime” in the critical time slot four nights per week – with its star … Read more
Dallas officials have approved $5.2 million in economic incentives to keep Neiman Marcus from pulling up stakes in its hometown — but the luxury chain isn’t yet committing, saying it’s shifting to a remote-work strategy that’s less reliant on a corporate headquarters. Neiman and its 114-year-old flagship store in historic downtown have long been proud … Read more
Wall Street continued its recovery from a seven-week losing streak on Thursday as investors seized on apparent signs that the worst of sky-high inflation may be over. The Dow Jones Industrial Average rose 565 points, or 1.6%, to 32,647 and the Nasdaq rose 2.8% as of 1:30 p.m. Eastern local time. The S&P 500, which … Read more
Shareholders have re-elected all of McDonald’s directors, the company said on Thursday, ending a boardroom battle with billionaire investor Carl Icahn who had sought to win two board seats and shine a spotlight on his campaign over animal welfare. Preliminary tallies showed shareholders backed all 12 of McDonald’s directors and that Icahn’s two nominees received approximately 1% of … Read more
Billionaire Elon Musk was sued by Twitter investors for delayed disclosure of his stake in the social media company in a complaint filed on Wednesday in California federal court. The investors said Musk saved himself $156 million by failing to disclose that he had purchased more than 5% of Twitter by March 14. He continued to buy stock after … Read more
Computer chip and software maker Broadcom will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year despite an environment of rising inflation and economic uncertainty. The proposed deal comes just weeks after billionaire and Tesla CEO Elon Musk offered to spend $44 billion on Twitter … Read more
Former Twitter CEO Jack Dorsey served the company on a platter to Elon Musk by “backstabbing” the company’s board of directors, one of the social-media giant’s co-founders alleged. Jason Goldman, a former member of the board who was part of Twitter’s founding team more than a decade ago, told Bloomberg News that he believes Dorsey … Read more
Macy’s shares are soared by more than 13% on Thursday after the department-store giant reported better-than-expected profits, saying its customers are splurging on new work outfits as they return to the office post-pandemic. The largest department store in the US is selling lots of blazers, dresses, accessories and make-up as consumers update their wardrobes for … Read more