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Macy’s says single employee was responsible for hiding up to $154m in expenses
Largest US department store chain delays release of quarterly earnings report to investigate ‘erroneous accounting entries’
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How Spirit Airlines Went From Industry Maverick to Chapter 11 Bankruptcy
The budget carrier’s pivot to ultralow fares brought it success but competition, rising costs and a failed merger bid hurt the business.
By Alison Sider -
Alex Jones asks judge to halt sale of Infowars site to The Onion
Jones called The Onion's winning $1.75 million bid "sheer nonsense."
By Editors Desk -
TikTok Parent ByteDance’s Valuation Rises to About $300 Billion
Investors see Trump victory as a positive with the threat of TikTok ban looming in U.S.
By Editors Desk
Latest Business
Meta Is Fined $840 Million in Europe for Boosting Marketplace Unfairly
Meta said it would appeal the decision by the European Union, which said the company had abused its dominance in social networking to strengthen its shopping and classified ads service.
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Arnault Son Climbs LVMH’s Top Ranks in Further Leadership Reshuffle
Changes are the latest in a wider generational shift in the luxury giant’s management
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The Fed preps another rate cut, amid cloudy post-election outlook
A quarter-percentage-point cut is anticipated as inflation continues to cool, following a jumbo-size September reduction.
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Meta’s Profit Rises 35%, Even as Spending Spree Continues
The Silicon Valley company, which owns Facebook, Instagram and WhatsApp, said it does not plan to slow down its investments anytime soon.
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China's BYD overtakes Tesla revenue for first time
The electric vehicle giant saw its revenues jump 24% as government subsidies boost China's car industry.
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Reddit shares soar 40% as it turns its first profit
Social media platform says it has attracted nearly 100mn daily active users with its ad tech investments starting to pay off
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Starbucks Tells Workers to Return to the Office or Risk Getting Fired
The coffee chain has expected office employees to come in three days a week. Now it is tightening enforcement
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Former Abercrombie CEO Mike Jeffries Is Arrested in Sex-Trafficking Case
Jeffries is expected to be charged with operating a sex-trafficking ring, according to people familiar with the matter.
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Boeing to cut 17,000 jobs and delay 777X jet as revenues fall short
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Crisis-hit Boeing to fire 17,000 employees
About 10% of the plane maker’s staff are expected to lose their jobs
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OpenAI Nearly Doubles Valuation to $157 Billion
The startup behind ChatGPT raised $6.6 billion from backers including Microsoft and Thrive Capital in a funding round.
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DirecTV Agrees to Merge With Satellite Rival Dish
The pair of deals lets private-equity firm TPG buy AT&T’s remaining stake in DirecTV and absorb rival Dish.
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'Imploding': China's $60 trillion disaster
China is in financial turmoil as its lucrative property market implodes – and the consequences for Australia will be inescapable.
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