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Business News

Thursday, Sep 20, 2018 at 10:20 PM EDT

Facebook to Scale Back Political Campaign 'Embeds'

Facebook to Scale Back Political Campaign 'Embeds'

Facebook said on Thursday it would cut back the on-site support staff that it has provided in the past to political campaigns including President Donald Trump’s in 2016, NBC News reported. Facebook said in a...

Thursday, Sep 20, 2018 at 05:15 PM EDT

Wells Fargo to Cut Up to 10 Percent of Workforce

Wells Fargo to Cut Up to 10 Percent of Workforce

Wells Fargo, the third-biggest U.S. bank, plans to lower its employee headcount by 5 percent to 10 percent in the next three years as part of its ongoing turnaround plan, the company announced Thursday. The...

Thursday, Sep 20, 2018 at 03:43 PM EDT

Microwave, Clock Among 15 New Amazon Smart Products

Microwave, Clock Among 15 New Amazon Smart Products

Amazon announced 15 new Alexa-enabled products in less than 90 minutes at an event in Seattle on Thursday, further cementing the company's commitment to the voice assistant space. The new suite of items...

Thursday, Sep 20, 2018 at 04:44 PM EDT

Stock Market Brings Record US Household Wealth

Stock Market Brings Record US Household Wealth

A rising stock market lifted U.S. household wealth to a record $106.9 trillion in the April-June quarter, the culmination of a decade of economic recovery but a gain that is concentrated largely among the...

Thursday, Sep 20, 2018 at 01:11 PM EDT

Under Armour to Cut 400 Jobs

Under Armour to Cut 400 Jobs

Under Armour said Thursday its restructuring program will now cost more than it previously expected: It plans to cut about 400 jobs, or about 3 percent of its global workforce, by March. Under Armour shares...

Thursday, Sep 20, 2018 at 12:54 PM EDT

ESPN's New Streaming Service Passes 1 Million Paid Subscribers in Five Months

ESPN's New Streaming Service Passes 1 Million Paid Subscribers in Five Months

ESPN+, the streaming video service from the sports network, has reached more than 1 million paid subscribers, the company said Thursday. It's an impressive feat, given the service just launched in April.

Thursday, Sep 20, 2018 at 11:46 AM EDT

US Home Sales Flat in August, Down Over Past 12 Months

US Home Sales Flat in August, Down Over Past 12 Months

U.S. sales of existing homes were unchanged in August, as a shortage of houses priced at less than $250,000 — a level considered to be affordable for the middle class — has become a drag on the real estate...

Wednesday, Sep 19, 2018 at 03:11 PM EDT

Retailers Could Top $1.1 Trillion in Holiday Sales

Retailers Could Top $1.1 Trillion in Holiday Sales

Retailers appear to have the odds in their favor this holiday season, with record-low unemployment across the U.S., strong consumer confidence and building sales momentum so far in 2018. "We think most...

Tuesday, Sep 18, 2018 at 10:15 PM EDT

US-China Trade War Could Soon Pose a Serious Economic Threat

US-China Trade War Could Soon Pose a Serious Economic Threat

Seeking better-skilled workers, Cedar Electronics decided last year to return some of its manufacturing to the United States from the Philippines, only to run smack into a worsening U.S.-China trade war. Cedar...

Tuesday, Sep 18, 2018 at 07:24 PM EDT

Ferrari Reveals Its Most Powerful Road Car Ever

Ferrari Reveals Its Most Powerful Road Car Ever

Ferrari has debuted two new road cars, claiming they are fitted with the most powerful engine ever built by the Italian car maker. The luxury sports car maker took the wraps off the Ferrari Monza SP1 and SP2 at...

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