Toys R Us is taking another shot at opening up a store in the United States after its comeback plans were thwarted earlier this year due to the coronavirus pandemic. The toy retailer’s parent company, WHP Global, said Wednesday that it will open a two-level, 20,000-square-foot Toys R Us location at the American Dream megamall […]
Category: Top News
Capital One says it is ditching all consumer overdraft fees, giving up $150 million in annual revenue
Capital One says it is eliminating all overdraft fees for retail banking customers. It’s the largest U.S. bank yet to end the industry practice of charging customers a hefty fee, typically $25 to $35 in each instance, for allowing transactions that exceed a customer’s balance, according to the McLean, Virginia-based lender. The move will cost […]
Fed Chairman Jerome Powell retires the word ‘transitory’ in describing inflation
The nation’s economic steward said it will back off of using the word “transitory” to describe the fast pace of price increases, as Federal Reserve policymakers acknowledge the increasing risk of more persistent inflation. “We tend to use [the word transitory] to mean that it won’t leave a permanent mark in the form of higher […]
Salesforce fourth quarter guidance misses Wall Street expectations
Salesforce reported fiscal third-quarter earnings on Tuesday for the period ending Oct. 31, beating Wall Street expectations on earnings and sales. But shares fell over 6% in extended trading after earnings guidance for the fourth quarter fell short of expectations. Salesforce also named current President and COO Bret Taylor to be co-CEO alongside current CEO Marc Benioff. Benioff […]
Meet Parag Agrawal, Twitter’s new CEO
When Jack Dorsey abruptly stepped down as Twitter CEO on Monday, he handed the reins to Parag Agrawal, a software engineer who has become one of Dorsey’s closest allies in shaping the social media company’s future. Dorsey’s trust in Agrawal as CEO “is bone deep,” the outgoing chief told employees in an email on Monday. […]
Cyber Monday spending was reportedly down due to early shopping
Cyber Monday sales were down 1.4 percent year over year, according to a report from Adobe Analytics. Shoppers spent $10.7 billion this year, $100 million less than the $10.8 billion consumers spent in 2020. Amazon’s holiday shopping report only backs Adobe’s claims that Cyber Monday sales took a dip — the commerce giant didn’t report […]
Lululemon fires back at Peloton in growing feud over clothing patents
Lululemon on Monday filed an anticipated patent lawsuit against Peloton, in a growing feud over the designs of its sports bras and leggings. In the suit, filed in the Central District of California, Lululemon said it is seeking injunction against Peloton’s infringement of its intellectual property rights. It’s also asking for damages and other monetary […]
Nissan announces halfhearted EV strategy after fumbling its lead
As more and more automakers have turned their attention to electric vehicles, one-time leader Nissan finds itself playing a game of catch-up. In an attempt to make up for lost time, the company announced on Monday that it will invest $17.6 billion over the next five years “to accelerate the electrification of its vehicle lineup […]
Twitter CEO Jack Dorsey to step down
Twitter CEO Jack Dorsey will officially step down from his role, effective immediately. Dorsey co-founded Twitter with Evan Williams, Biz Stone and Noah Glass back in 2006 and served as CEO until 2008. He later returned to the CEO role in 2015 after former CEO Dick Costolo stepped down. He has a net worth of […]
BMW unveils high-performance XM hybrid electric concept vehicle ahead of U.S. production
BMW on Monday evening unveiled a new high-performance concept vehicle that previews an electrified crossover expected to begin production late next year in South Carolina. The new production car, called the BMW XM, will be available exclusively as a plug-in hybrid electric vehicle under the company’s “M” performance division, the automaker said. The concept car […]
Nissan To Launch 23 Electrified Models By 2030, Unveils Four All-Electric Concepts
Nissan will accelerate its electrification plans and by fiscal year 2030, will launch 23 new electrified models including 15 EVs. It has also unveiled four intriguing concepts. The Japanese automaker confirmed the plans with the announcement of its Ambition 2030 long-term vision. This will also see the company become carbon neutral across the life cycle […]
Canada’s Maple Syrup Cartel Will Release 50% of Its Sugary Reserves Amid Shortfall
Canada’s government-sanctioned maple syrup cartel has a message for the world: Never fear, there will be syrup. The country’s Quebec Maple Syrup Producers, also commonly referred to as the “OPEC of maple syrup,” announced in recent days that it would release almost 50 million pounds (22.6 million kilograms) of syrup from its strategic reserve following […]