Jeff Bezos is leaving Seattle, where the billionaire founded Amazon out of a garage nearly three decades ago. In a Thursday night Instagram post, the 59-year-old Bezos announced plans to return to Miami — where he spent his high school years — to be closer to his parents and his… Read More
Uber and Lyft will pay $328 million to settle wage theft claims
Ride-hailing companies Uber and Lyft will pay a combined $328 million to settle wage theft claims in New York, Attorney General Letitia James announced Thursday. James said the settlements resolve investigations into the companies improperly charging drivers sales taxes and other fees when the costs should have been paid by… Read More
DoorDash orders surge 24% in one year, an unexpected rise
DoorDash powered past sales and earnings expectations in the third quarter, saying a growing mix of stores and faster service is drawing customers in the U.S. and abroad. The San Francisco delivery company said Wednesday its total orders grew 24% to 543 million in the July-September period compared to the… Read More
Southwest Airlines considers big change at DFW airport
Southwest Airlines says it is interested in operating flights at Dallas-Fort Worth International Airport, the massive airfield that it rejected a half-century ago, when it was a tiny carrier with just a few planes. Southwest officials said Wednesday they have approached DFW representatives about getting gates in a proposed new… Read More
Disney makes $8.6 billion bid for total control of Hulu
Walt Disney Co. said it will acquire a 33% stake in Hulu from Comcast for approximately $8.6 billion, a deal that will give Disney undisputed control of the streaming service. Disney has actually run Hulu since 2019, when Comcast ceded its authority to Disney and effectively became a silent partner…. Read More
Fox News stars get very, very good news Wednesday
The new lineup at Fox News’ primetime got some very good news on Wednesday: Their ratings dominance continues over the rest of the cable news world. Despite a huge shakeup earlier this year with the sudden departure of then-number one cable news host Tucker Carlson, Fox News remains dominate in… Read More
GM reaches tentative agreement with union, potentially ending 6-week strike
General Motors and the United Auto Workers union have reached a tentative contract agreement that could end a six-week-old strike against Detroit automakers, two people briefed on the deal said Monday. The agreement follows the pattern set with Ford last week and Jeep maker Stellantis over the weekend Check your… Read More
Wall Street recovers some losses Monday after falling 10% below its summertime high
Wall Street is clawing back some of its sharp recent losses Monday, ahead of a week that could send more big swings through financial markets. The S&P 500 was 1% higher in its first trading after dropping more than 10% below its high point for the year. The Dow Jones… Read More
Rite Aid, Risk, and the Great American Shell Game
By Addison Wiggin ”Games are all about taking risks.”— James Altucher In 2013, we took a film crew to Greenwich, Connecticut. At the time, the stock market and economy had “recovered” from the Panic of ‘08, and we were making a film about “risk!”. We wanted to know how… Read More
Cruise, GM’s robotaxi service, suspends all driverless operations nationwide
Cruise, the autonomous vehicle unit owned by General Motors, is suspending driverless operations nationwide days after regulators in California found that its driverless cars posed a danger to public safety. The California Department of Motor Vehicles revoked the license for Cruise, which recently began transporting passengers throughout San Francisco, this… Read More
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