Gap reported declining sales across all four of its brands and lowered its current-quarter guidance, citing an "uncertain consumer," with net sales projected to decrease in the low double-digit range for the fiscal third quarter compared to the previous year.
The United Auto Workers (UAW) union has taken a step closer to a potential strike, as 97 percent of its members voted to give their leaders permission to call a work stoppage at the Big Three automakers after contract negotiations if necessary, with demands for a 40 percent pay increase and other concessions making a strike likely.
Atlassian co-CEO Scott Farquhar implements a Team Anywhere policy, allowing employees to work from anywhere and emphasizing output over location, contrasting with other tech CEOs who are pushing for employees to return to the office.
According to a report by the Mozilla Foundation, cars have the worst user privacy practices among all gadgets, with 92% of automakers providing little control over personal data and 84% sharing user data with outside parties.
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Roku's stock surged 12.5% after announcing layoffs and raising its revenue guidance for the third quarter.
Elon Musk's social network, formerly known as Twitter and now called X, is facing 2,200 arbitration cases filed by ex-employees after Musk took over the company, leading to potential filing fees of $3.5 million, as revealed in a recent court filing. The cases are part of a lawsuit in a Delaware district court brought by a former senior staff network engineer, Chris Woodfield, who alleges that X failed to pay his severance and delayed the dispute resolution process by not paying the necessary fees.
Air Canada apologizes for booting passengers who complained that their seats were smeared with vomit
Air Canada has apologized to two passengers who were removed from a plane after complaining about vomit on their seats, acknowledging that they did not receive the standard of care they were entitled to.
Shares of AMC Entertainment fell 20% after the theater chain announced plans to sell up to 40 million new shares to raise cash, following the successful conversion of preferred APE shares into common stock and the settlement of a lawsuit objecting to the move.
Fast casual chicken concept, Big Chicken, founded by Shaquille O'Neal, is set to open 20 locations in eastern Michigan, including Metro Detroit, Ann Arbor, and Flint, with the first location opening in northern Genesee County's Vienna Township by early 2024.
OpenAI has launched ChatGPT Enterprise, a customizable AI assistant designed for businesses to enhance productivity, protect data, and provide better content customization options, aiming to establish itself as a leader in the AI industry.
Qualcomm CEO Cristiano Amon believes that artificial intelligence (AI) has the potential to rejuvenate the smartphone market, with the company's upcoming Snapdragon Summit expected to drive major advancements in mobile technology and create a new upgrade cycle for phones.
The National Highway Traffic Safety Administration is pushing for the recall of 52 million air bags due to the risk of explosion, which has already caused fatalities and serious injuries in vehicles manufactured by various companies including General Motors, Ford, Stellantis, Tesla, Toyota, Hyundai, Kia, Mercedes-Benz, BMW, and Volkswagen.
Times Square subway service has been restored with delays after a major water main break caused flooding in the area.
Moderna's updated COVID-19 vaccine is likely to be effective against the highly-mutated BA.2.86 subvariant of the coronavirus, according to clinical trial data, providing reassurance for fall boosters and regulators.
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Automakers are facing criticism for selling driver data, with all 25 major car brands receiving a failing grade for consumer privacy and 84% of them sharing or selling consumer data, raising concerns about the privacy of personal information such as facial recognition and sexual activity.
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Affirm Holdings stock rose 10.8% after exceeding quarterly expectations, while Nordstrom's shares fell 4% despite reporting better earnings and revenue, and Gap saw a small increase in shares despite mixed results; Marvell Tech's shares tumbled 5% despite surpassing estimates, Ulta Beauty had positive second-quarter results with a 2% increase in shares, Intuit's shares fell over 2% despite beating earnings, and Workday's stock jumped 4% after surpassing expectations and raising its fiscal revenue forecast.
Fast fashion e-tailer Shein is partnering with Sparc Group, parent company of Forever 21, to expand its reach and sell merchandise out of physical store locations, while Sparc becomes a minority shareholder in Shein.
Fareway supermarket chain is moving its headquarters from Boone to Johnston due to lack of space and to be closer to its employees who live in the Des Moines metro, with over 200 employees eventually being based at the new location.
The Bill and Melinda Gates Foundation Trust purchased 1.7 million shares of Anheuser-Busch, valued at around $95 million, indicating Bill Gates' confidence in the beer company despite its recent sales slump and controversies.
The IAA Mobility 2023 auto show in Munich showcased the heightened competition between European and Chinese automakers, with Audi unveiling the Q6 e-tron's new cockpit, BMW introducing the Vision Neue Klasse electric concept car, BYD unveiling its new EV lineup for the European market, Mercedes announcing a smaller, cheaper G-Wagon EV and the CLA EV concept car, Mini upsizing its largest model, Renault introducing the Scenic E-Tech SUV and Grand Kangoo E-Tech, Tesla revealing a refreshed Model 3, Volkswagen launching a high-powered small EV, and XPeng bringing the G6 SUV to Europe next year.
U.S. oil producer Chevron has evacuated staff from three Gulf of Mexico oil production platforms in preparation for Hurricane Idalia's landfall on the west coast of Florida.
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The California DMV is allowing 1.5 million people to obtain a digital driver's license through its mobile driver's license program, which can be used at select airports and convenience stores but not for law enforcement purposes.
Texas' main electrical grid operator, ERCOT, is requesting Texans to conserve electricity due to low operating reserves caused by extreme heat, and warns of potential emergency operations and rolling blackouts throughout the weekend; government agencies are also asked to reduce energy use in their facilities, and ERCOT has set a new peak demand record.
China has reportedly banned the use of iPhones by central government officials, potentially as a retaliation against US restrictions on Chinese tech companies.
Comcast and Disney have moved up the timing of their talks to sell Comcast's stake in Hulu to September 30, with Comcast CEO Brian Roberts stating that the synergies around Hulu could be worth $30 billion.
Amazon is quietly increasing the minimum amount customers must spend on its site to qualify for free shipping, from $25 to $35 for non-Prime members, as the online retail giant aims to cut costs across its business.
Digital World Acquisition Corp., the blank-check firm seeking to merge with Trump Media & Technology Group, has been granted another year to complete its troubled deal, allowing the merger with Truth Social to proceed until September 8, 2024, after shareholders voted in favor of the extension.
Intuit Credit Karma is launching Intuit Assist, an AI-powered financial assistant tool that provides personalized answers and recommendations to consumers' financial questions, helping them optimize their spending and take advantage of better financial products.
Health insurer Cigna Group plans to eliminate paperwork and prior authorization requirements for 25% of medical services, in response to claims that these requirements are burdensome for physicians and increase administrative work.
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Wells Fargo has agreed to pay a $35 million civil penalty to settle allegations that it overcharged nearly 11,000 investment advisory clients a total of around $27 million in fees, according to the Securities and Exchange Commission.
Oracle stock jumped 3% after UBS analyst Karl Keirstead upgraded the rating, citing the company's potential in both cloud business and artificial intelligence.
Elon Musk borrowed $1 billion from SpaceX around the same time he was purchasing Twitter.
Money market funds and high-yield savings accounts are both safe and offer liquidity, but there are key differences in terms of risk, yield, account minimums, and taxes.
Amazon CEO Andy Jassy has warned employees that it "probably won't work out" for them if they are not willing to come into the office at least three days a week, as the company joins other tech firms in pushing for a return to in-person work.
ChatGPT, an AI chatbot developed by OpenAI, has been found to provide a potentially dangerous combination of accurate and false information in cancer treatment recommendations, with 34% of its outputs containing incorrect advice and 12% containing outright false information, according to a study by researchers at Brigham and Women's Hospital.
3M, a chemical and manufacturing giant, has agreed to pay $6 billion to settle lawsuits brought by military service members and veterans who claimed that their combat earplugs caused hearing damage and tinnitus.
Wendy's will be releasing its pumpkin spice Frosty and pumpkin spice Frosty cream cold brew nationwide on Sept. 12 for a limited time, featuring a blend of pumpkin, cinnamon, nutmeg, and a cold-brew coffee with pumpkin spice syrup and Frosty creamer.
The European Union has classified Apple, Amazon, Microsoft, Google parent Alphabet, Facebook owner Meta, and TikTok parent ByteDance as online "gatekeepers" and imposed new digital rules to prevent tech giants from dominating digital markets, with potential fines and the requirement to sell parts of their business.
Goldman Sachs, JPMorgan Chase, Morgan Stanley, and UBS have agreed to a $499 million settlement in an antitrust lawsuit accusing them of colluding to limit competition in the stock lending market.
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T-Mobile will lay off 5,000 employees, about 7% of its workforce, over the next few weeks in an effort to streamline operations and reduce costs, with impacted roles being mainly in corporate, back-office, and technology departments.
Federal Reserve chair Jerome Powell warns that the fight against inflation in the US is not over and that interest rates may have to rise further to bring it down.
