Stocks staged a recovery on Friday, after a turbulent week marked by a broad selloff as investors assessed the economic fallout of the Trump administration’s chaotic trade policies, putting major indexes on track for weekly losses. In afternoon trading, the Dow Jones Industrial Average soared 615.60 points, or 1.51%, to 41,429. The S&P 500 gained 2% and the … Read more
They are lonely souls, but there remains a power contingent of Wall Street executives and wealth managers who are telling their clients to ignore the noise. Their message: The US economy is just fine. The market will work through its current puke and reach new highs before the end of the year. In other words, … Read more
Joann Inc.’s move to stop taking gift cards after Feb. 28 has angered some of the crafts retailer’s customers as the company winds down its operations. The company announced earlier this year that it had entered Chapter 11 bankruptcy protection for a second time to “facilitate a sale process to maximize the value of its … Read more
U.S. Postmaster General Louis DeJoy told Congress he signed an agreement with Elon Musk’s DOGE government reform team to provide assistance to the money-losing agency as it works to address “big problems.” USPS, an independent government agency with 635,000 employees that lost $9.5 billion last year, has been exempt from DOGE-directed federal employee reductions. DeJoy told Congress … Read more
Starbucks CEO Brian Niccol reaffirmed during a shareholder meeting this week that the company will continue focusing on diversity, calling it a key part of the coffee giant’s strength. “Starbucks is a tremendously, tremendously diverse organization and will continue to be a tremendously diverse organization, just by the nature of our mission, our values, and how … Read more
The No. 2 toy company in the U.S. is dealing with tariffs by shrinking its manufacturing operations and leaning into movies starring its biggest brands, chief executive Ynon Kreiz said at an investment conference on Thursday. “We used to be called a toy manufacturer,” Kreiz said at the UBS Global consumer and Retail Conference in … Read more
Travelers who claim to be loyal customers of Southwest are sounding off after the airline announced changes Tuesday to its popular passenger perk. The Texas-based carrier revealed several changes are being made in an effort to drive revenue growth and return to profitability shareholders expect, FOX Business reported. These changes will include an adjustment to … Read more
World Bank bureaucrats who jetted to the United Nations’ annual global warming conference spewed CO2 emissions equal to what’s produced by 200 US households in a year — sparking accusations of climate “hypocrisy,” The Post has learned. A leaked guest list shows that 254 World Bank officials attended the 12-day green boondoggle in November that … Read more
The Federal Trade Commission is moving ahead with a broad antitrust probe of Microsoft that was opened in the waning days of the Biden administration, Bloomberg News reported Wednesday citing people familiar with the matter. The FTC staff have in the recent weeks been meeting companies and other groups to gather information, the report said. Microsoft and the FTC … Read more
Chinese officials gave Walmart a dressing-down this week and warned of legal consequences after the retailer reportedly pressured China-based suppliers to bear the cost of tariffs, according to a report. Authorities summoned Walmart executives to meet with them on Tuesday after receiving complaints that the discount chain was pushing Chinese suppliers to cut their own … Read more