American Eagle on Wednesday said it’s making gains in boosting profitability as it works to improve its product assortment and tweak operations. Still, its fiscal first-quarter sales came in weaker than Wall Street expected. While revenue came in slightly below estimates, it was 6% higher than the year ago period and marked a new record for the company, it said in ...
Shares of U.S. Cellular popped nearly 6% Tuesday after T-Mobile announced that it plans to acquire most of the company, including the wireless operator’s stores, some of its spectrum assets and its customers in a deal worth $4.4 billion. The deal includes cash and up to $2 billion of debt, according to a press release from T-Mobile. Up to $100 million of the deal’s cash ...
The business world is increasingly banking on artificial intelligence to be the next big thing, and has found itself turning to one maker of computer chips in particular — Nvidia — to power the revolution. On Tuesday, Nvidia shares were up another 5%, leading the Nasdaq stock index, which represents technology firms, to a new all-time high. Over the past ...
Nearly six months since McDonald’s opened its first CosMc’s location, the hours-long drive-thru lines have died down, but the chain is just getting started. The burger giant created the spinoff using one of its lesser-known McDonaldland mascots, CosMc, an alien who loves McDonald’s cheeseburgers. While unveiling CosMc’s at an investor event in December, McDonald’s CEO Chris Kempczinski said the company set out to create ...
Ryan Salame, a former top lieutenant of FTX founder Sam Bankman-Fried, has been sentenced to 90 months, or seven and a half years, in prison, followed by three years of supervised release. Salame has also been ordered to pay more than $6 million in forfeiture and more than $5 million in restitution. The sentence is a heavier penalty than the five to ...
Stellantis plans to offer a $25,000 all-electric Jeep vehicle in the U.S. “very soon” to better attract mainstream consumers amid slower-than-expected electric vehicle adoption, CEO Carlos Tavares said Wednesday. Tavares disclosed few details about the upcoming vehicle, saying it will be priced around $25,000 in the U.S. to emulate Stellantis’ pricing of the Citroen e-C3 SUV, a low-cost model starting at 23,300 ...
The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance. This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic. “This increase marks the second consecutive quarterly rise and was primarily driven by emerging markets, where debt surged to an ...
Cancer is often regarded as a disease of the modern age. However, medical texts from ancient Egypt indicate that healers of the time were aware of the condition. Now, new evidence from a skull more than 4,000 years old has revealed that ancient Egyptian physicians may have tried to treat certain cancers with surgery. The skull belonged to a man who ...
Thailand’s former Prime Minister Thaksin Shinawatra has been indicted on lese majeste charges, authorities said Wednesday, the latest twist in a decades-long political saga in the Southeast Asian kingdom. The case, filed by police, alleged Thaksin violated Thailand’s notoriously harsh royal insult law during an interview he gave in 2015 to the South Korean newspaper Chosun Ilbo. “The attorney general has decided ...
Indian Prime Minister Narendra Modi is increasingly resorting to overtly Islamophobic language during his election campaign, critics and observers say, as he seeks a third straight term governing the world’s most populous nation. As turnout in the polls so far shows a slight dip from five years ago, the popular leader – and overwhelming favorite – has embraced negative campaigning, ...
American Tyler Wenrich was sentenced to three weeks in jail and fined Tuesday after he had pleaded guilty earlier this month to possession of ammunition while traveling to Turks and Caicos. The Virginia resident was fined $9,000, Kimo Tynes, the director of communications for the Government of the Turks and Caicos Islands, said in a news statement. Since he had ...
Pope Francis allegedly told Italian bishops to not permit gay men to train for the priesthood, with two Italian newspapers claiming that the 87-year-old pontiff made a homophobic slur in a closed-door meeting last week. Citing sources from inside the meeting, the Corriere della Sera and La Repubblica newspapers reported Monday that the Pope had made the comments while meeting ...