Walmart is laying off hundreds of corporate workers across the country as it relocates many employees to its Arkansas headquarters. The big-box retailer confirmed the layoffs and relocations in a memo sent to employees Tuesday. In…
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Business
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Meme stocks are back. One day after an account associated with the phenomenon posted for the first time in years on the X social media platform, shares in companies that have been linked to speculative…
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Netflix will stream its first NFL games on Christmas Day. The streaming giant announced Wednesday that it will feature both Dec. 25 matchups scheduled for this year, with at least one other Christmas game coming…
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The Dow Jones Industrial Average slipped on Monday, snapping an eight-day winning streak, as traders grappled with rising inflation expectations ahead of key reports due later in the week. The 30-stock Dow fell 81.33 points, or 0.21%,…
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When it comes to spending money in retirement, there’s one rule of thumb — the 4% rule — that has persisted for decades. The 4% withdrawal rule calls for retirees to withdraw that portion from their investment portfolio in…
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Get ready for the next cable-like streaming bundle: Comcast later this month will launch a three-way bundle — with Peacock, Netflix and Apple TV+ — offered at a deep discount, Comcast chief Brian Roberts said. Dubbed StreamSaver, the bundle will…
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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…
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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…