A top Kroger executive testified that the grocery chain hiked the prices of milk and eggs beyond the added costs from inflation, according to a new report. The remarks were made during a court hearing over antitrust regulators’ attempt to block the supermarket giant’s merger with the grocery chain Albertsons, Bloomberg reported. While testifying in … Read more
Steward Health Care announced Thursday that it has entered into definitive agreements to sell four Massachusetts-based hospitals. Under the terms of the asset purchase agreements, Lifespan will purchase Morton Hospital and Saint Anne’s Hospital, and Lawrence General Hospital will purchase Holy Family Hospital-Methuen and Holy Family Hospital-Haverhill. The parties are finalizing an agreement to sell … Read more
Best Buy (BBY) posted better-than-expected results after a series of disappointing quarters. On Thursday, the company reported revenue of $9.29 billion, compared to estimates of $9.24 billion. Adjusted earnings per share jumped 10% year over year to $1.34, more than the $1.16 anticipated. CEO Corie Barry said in the release that the company’s numbers result … Read more
Gap (GAP) shares halted trading on Thursday after the company shared its earnings release around 9:30 a.m. ET on its site, then retracted it. The company did not respond immediately to a request for comment. It was set to report its earnings Thursday after market close. Based upon those since-retracted results, the company beat estimates … Read more
Seven people were injured when “severe turbulence” rocked a United Airlines flight, forcing an emergency landing in Memphis, according to the airline and local emergency responders.The Boeing 737 was en route from Cancún, Mexico, to Chicago on Wednesday when the flight experienced turbulence, United said.The plane first reported the turbulence while flying over Louisiana, according … Read more
At the beginning of the month Wall Street was confident—but not convinced—that it would be getting its much-anticipated interest rate cut come September. Fed Chairman Jerome Powell’s Jackson Hole speech sealed the deal for many that a reduction is indeed imminent. The rate currently sits at 5.25%—a more than two-decade high. But a combination of … Read more
A shopper walks past the American clothing and accessories retailer American Eagle store in Hong Kong. Budrul Chukrut | Lightrocket | Getty Images American Eagle missed Wall Street’s sales targets for a second quarter in a row on Thursday, but profits grew by nearly 60% thanks in part to lower product costs. Shares fell more … Read more
People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City. Spencer Platt | Getty Images Best Buy raised its fiscal-year profit guidance Thursday after exceeding earnings and revenue expectations for the most recent quarter. The retailer now expects to see full-year adjusted earnings per share in … Read more
Once-market-dominant Yelp is taking Google to court for alleged antitrust violations, claiming that the search giant prioritized its own review platform in business search results, in an effort to “stifle competition and keep consumers within its own walled garden.” Yelp, which has taken steps to increase user trust and business transparency on its site in recent … Read more
Bitcoin millionaires surged by 111% in 2024, driven by new ETFs and Bitcoin highs Top crypto hubs like Singapore and Hong Kong benefited from favorable tax policies Despite the recent dip in the cryptocurrency market, a dip accelerated by Bitcoin [BTC] falling below $60k on 28 August, there remains a silver lining. This, thanks to … Read more