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Costco seeks refunds as Trump tariffs face high court
WASHINGTON (AP) — Costco is joining other companies that aren’t waiting to see whether the Supreme Court strikes down President Donald Trump‘s most sweeping import taxes. They’re going to court to demand refunds on the tariffs they’ve paid. The specialized U.S. Court of International Trade in New York[...]
Minimalist Prada buys maximalist Versace for $1.4 billion, in bid to relaunch sexier Milan rival
MILAN (AP) — The Prada Group closed the purchase of Milan fashion rival Versace in a $1.375 billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu ‘s youth-driven appeal. The highly anticipated deal is expected to relaunc[...]
OpenAI CEO Sam Altman declares ‘code red’ to improve ChatGPT amid rising competition
SAN FRANCISCO (AP) — OpenAI CEO Sam Altman has set off a “code red” alert to employees to improve its flagship product, ChatGPT, and delay other product developments, according to The Wall Street Journal. The newspaper reported that Altman sent an internal memo to staff Monday saying more work was needed to enhance the ar[...]
OECD lifts global, US growth outlook for 2025
WASHINGTON (AP) — The world economy has proven surprisingly durable in the face of President Donald Trump‘s trade wars, the Organization for Economic Cooperation and Development said Tuesday, upgrading its outlook for global and U.S. economic growth this year. The 38-country OECD now forecasts that the world economy wil[...]
Starbucks to pay $38.9M in NYC worker settlement
Starbucks will pay $38.9M to settle NYC claims it denied stable schedules and cut worker hours, affecting more than 15,000 employees.
Why Cyber Monday could break spending records despite economic uncertainty
NEW YORK (AP) — After four days of deal-fueled spending sprees that kicked off on Thanksgiving, shoppers shifted their focus on Cyber Monday, which is again expected to be the biggest sales day of the year for online retailers. Walmart was promoting up to 50% off on fashion on its website among some of the […]
UK and US agree zero-tariff deal on pharmaceuticals
LONDON (AP) — The U.K. has secured a 0% tariff rate for all U.K. medicines exported to the U.S. for at least three years, officials said Monday, in return for the U.K. spending more on new medicines. Under the deal, the U.S. agreed to exempt U.K.-origin pharmaceuticals, pharmaceutical ingredients, and medical technology from[...]
Bitcoin dips below $85,000 in cryptocurrency rout
Bitcoin and companies tied to cryptocurrencies extended a nearly two-month swoon Monday, tracking with a broader market sell-off in technology companies that many see as overvalued. Bitcoin, which soared to a record $126,210.50 on Oct. 6 according to crypto trading platform Coinbase, slid 11.8% to below $85,000. That’s a [...]
Layoffs are piling up, raising worker anxiety. Here are some companies that have cut jobs recently
A stalled “no-hire, no-fire” economy and rising costs have driven major companies from HP to Amazon to announce large layoffs, deepening worker anxiety.
Fewer Americans sought unemployment benefits last week as job cuts stay low
Unemployment claims fell to 216,000 last week, signaling continued low layoffs even as hiring slows and more jobseekers struggle to find work.
Best Buy ups sales outlook heading into holiday shopping ramp-up
Best Buy raised its full-year forecast after strong third-quarter results, with computing, gaming and mobile driving 2.7% comparable-sales growth.
Consumer confidence slides as Americans grow wary of high costs and sluggish job gains
U.S. consumer confidence fell to 88.7 in November as inflation, weak hiring and the shutdown weighed on Americans’ views of the economy, survey shows.
