Latest stories, analysis, and insights from the world of business.
Citi CEO Jane Fraser discusses the next phase of her turnaround strategy, emphasizing excellence and competing with the best while leveraging AI to earn money, save costs, and secure the bank.
Tina Knowles and her daughter Beyoncé launched the hair care brand Cécred in February 2024, drawing from decades of Tina's salon experience mixing custom treatments for clients and family. Since its debut, the line has become the most successful prestige hair-care launch in Ulta Beauty's history, winning 89 beauty awards.
Bridget Griswold, the 25-year-old CEO of Lean In, discusses how the "broken rung"—the gap in promotions from entry-level to manager positions—is one of the most entrenched barriers women face early in their careers, affecting their long-term leadership representation.
CoreWeave's stock and bonds plummeted Wednesday as investors grew concerned about technology companies borrowing heavily for artificial intelligence infrastructure, with bond yields reaching nearly 15% and shares sinking 16%.
Netflix announced it will cut 1,000 jobs globally, affecting around 6% of its workforce, marking the steepest cuts since 2022 as the streaming giant faces intense competition from rivals like YouTube and TikTok.
Netflix is cutting 1,000 jobs globally, representing about 6% of its workforce, as the streaming giant faces intensifying competition from rivals like YouTube and TikTok. The cuts, the steepest since 2022, will primarily affect human resources, legal, product, and technology teams.
The consumer price index rose 3.7% in September on an annual basis, up from 3.4% in August, driven largely by rising gasoline and energy prices amid the Iran war, which is putting pressure on the Federal Reserve to potentially raise interest rates.
The consumer price index showed annual inflation of 3.7% in September as gasoline prices surged 9.1%, accounting for half the increase, while core inflation also climbed above expectations at 2.6% annually.
The FTC seeks to hold "pharma bro" Martin Shkreli in contempt for violating a ban on working in the pharmaceutical industry, while Sanofi avoids fines by settling an EU antitrust probe over allegedly disparaging a rival flu vaccine.
CFOs from major corporations explain how they evaluate AI investments, emphasizing that AI projects must compete for capital like any other initiative and demonstrate clear paths to measurable business value.
Ecuador's adoption of the U.S. dollar as official currency has proven remarkably durable despite efforts by former president Rafael Correa to dismantle it, offering important lessons for other Latin American countries considering dollarization.
EU regulators accepted concessions from Sanofi to settle an investigation into an allegedly misleading campaign that disparaged a rival flu vaccine. The company avoided a fine by committing to a corrective communication campaign and pledging to refrain from such behavior in the future.
Consumer prices increased 3.7% annually in September driven largely by surging energy costs, with gasoline prices soaring 9.1% as tensions between the U.S. and Iran continue to impact global markets.
A former USDA official representing Mexican avocado importers argues that proposed tariff-rate quotas on Mexican avocado imports would raise consumer prices without addressing California growers' underlying cost challenges, citing the fruit's critical role in America's food supply and economy.
The IMF has praised the UK's plans to reduce borrowing, singling it out as the only G7 country with a serious deficit reduction strategy. This endorsement signals what to expect from the upcoming Budget announcement.
Economists expect September's consumer price index to rise 0.6% monthly and 3.6% year-over-year, with energy costs and oil prices driving accelerating inflationary pressures that could prompt further Federal Reserve rate hikes.
Delta Air Lines is undergoing its largest premium cabin redesign in 30 years, adding Wagyu burgers, Blanton's bourbon, and luxury amenities to Delta One as premium ticket revenue surges, driven by affluent travelers prioritizing experiences.
The Competition Markets Authority has fined Wayfair £4.8m, Appliances Direct £1.2m, and Gold's Gym £48,000 for misleading customers with false time-limited offers and hidden fees, with affected customers set to receive refunds totalling £440,000.
Bank of America reported a sharp 17% decline in third-quarter profit after being hit with a $1.2 billion penalty from the U.S. Treasury Department, raising questions about CEO Brian Moynihan's control over risk management at the second-largest U.S. bank.
Houthi missile strikes on Saudi Arabia's critical infrastructure, including attacks on Aramco headquarters and King Khalid International Airport in Riyadh, threaten the kingdom's Vision 2030 economic diversification strategy by deterring foreign investment and creating a security premium for doing business.