Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month, the company announced Tuesday. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Selipsky after he…
Category:
Business
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At least 99 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain’s long-term future. In a post Monday on LinkedIn, Neal Sherman, founder and CEO of TAGeX Brands, a…
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Price growth in many key consumer categories has slowed considerably or ceased altogether — but that has done little to dent consumer worries as the costs of housing and other services have continued to climb.…
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Business
Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady
Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period. Speaking to the annual general meeting of the…
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The interest rate on many new federal student loans is set to rise to its highest level in more than a decade next year as lenders throughout the economy seek higher returns for borrowing money.…
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Target will limit which stores sell LGBTQ-themed products following last year’s firestorm over its decision to sell products designed for transgender people. The retailer said Thursday that it would be selling its Pride merchandise in…
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Workers at a Mercedes-Benz plant in Alabama began voting Monday on whether to join the United Auto Workers union, a significant test of whether the labor group can maintain momentum in the historically anti-union American South.…
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U.S. safety regulators have opened a probe into Amazon-owned robotaxi venture Zoox after two of its autonomous SUVs braked suddenly and were rear-ended by motorcyclists. The National Highway Traffic Safety Administration said Monday it initiated an…
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Fewer homeowners have been taking on remodeling projects, reports show. But don’t mistake it for a slow market. The Leading Indicator of Remodeling Activity, an outlook measuring home improvement and repair spending on owner-occupied homes, peaked at…
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Federal authorities said Friday they charged Fat Brands and its chair, Andy Wiederhorn, of committing a brazen scheme that netted him $47 million in bogus loans from the restaurant company that owns Fatburger, Johnny Rockets and Twin Peaks. Fat…