Walmart is partnering with Ellen DeGeneres on a new clothing line as the retailer looks to bulk up its apparel brands in stores and online to compete with the likes of Amazon and Target. The move builds on Walmart’s partnership with Lord & Taylor that was rolled out earlier this year on Walmart.com. Walmart also
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U.S. fans of Guinness won’t have to travel to Dublin to indulge in a tour and tasting experience of one of the most recognizable brands in the beer industry. Makers of the beer toasted the opening of the $90 million Guinness Open Gate Brewery & Barrel House Aug. 3 near Baltimore, its first U.S. brewery
Tesla‘s board has formed a special committee to evaluate CEO Elon Musk‘s desire to go public, the company said Tuesday. The committee has not yet received a formal proposal from Musk, but it’s another signal that the company is seriously considering the option. Any action to take the company private will need the approval of
Elon Musk said Monday that he is working with Goldman Sachs and Silver Lake on taking Tesla private. In a Twitter post, Musk said those two firms are acting as financial advisors, and he’s also working with Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors. Elon Musk tweet: I’m excited
What a difference the birth of a granddaughter can make. For Lee Scott, who ran Walmart from 2000 to 2009, the arrival of his granddaughter not only convinced him the threat of global warming was real but set him on a course that altered the very DNA of the world’s largest retailer. He decided he
Leonard Riggio radically altered bookselling in America when he bought an ailing New York City bookstore and turned it into a national chain of megastores. Now, his company — Barnes & Noble — is floundering, the publishing industry that depends on it is worried, and Mr. Riggio has nobody to turn to but himself. That
President Donald Trump renewed his war of words with iconic U.S. motorcycle maker Harley Davidson on Sunday, denouncing the company’s plan to shift some production abroad and appearing to back consumers that have called for a boycott. In a series of early morning posts on Twitter, the president said that people looking to stop buying
Customs agents in Shanghai have refused to release a shipment of American-made Mercedes-Benz SUVs because of what they have described as a “safety risk.” Ostensibly, the Mercedes GLE and GLS models have a problem with their rear brakes that authorities want fixed before they are allowed into the country. But the timing of the move,
As of this week, Hulu’s major stakeholders have all reported earnings for the most recent quarter — and all three posted some big losses for the streaming service as it ramps up investments. Hulu doesn’t report official numbers — and declined to comment for this story — but some rough math of write-downs by Comcast,
In May, Facebook said David Marcus was leaving his role running Messenger to start an internal blockchain initiative. Since the moment, a big question has been circling in the crypto world: What about his seat on Coinbase’s board? Coinbase, the leading exchange for bitcoin and other digital currencies, is the clear breakout success in the
Gary Rathbun rumbled into South Dakota to attend the United States’ pre-eminent gathering of motorcycle enthusiasts atop his Harley-Davidson, a 2009 Ultra Classic that brought him 800 miles from Idaho. It is the 40th Harley he has owned. It will also likely be his last. Like many of Harley’s most loyal customers, Mr. Rathbun was
A major Papa John’s franchisee group on Friday publicly urged the chain’s founder, John Schnatter, to move on from the company, as it continues to be rocked by the events following his use of the N-word on a conference call. Schnatter, who owns nearly 30 percent of the company, gave up his post as chairman
NewTV, a subscription streaming service for premium short-form content that’s launching by Christmas of 2019, aims to disrupt Hollywood the way HBO did in the 1990s, and has raised $1 billion in funding. The company is run by Jeffrey Katzenberg, the former chairman of Disney Studios, and former Hewlett Packard Enterprise CEO Meg Whitman. Investors
At a quick glance, Donald Trump and Elon Musk couldn’t be more different. Elon Musk is a Silicon Valley messiah who made his billions building companies focused on renewable energy, private space travel, and disrupting the payments world. Donald Trump is a reality TV star, world-class marketer, and real estate developer turned president. But if
European stocks opened lower Friday morning as investors reacted to corporate earnings, fresh turmoil for Turkey and continued fears of a trade war between the U.S. and China. The pan-European Stoxx 600 was down 0.4 percent in early deals with banks and basic resources showing the steepest falls. This came as the euro dropped sharply
It may sound odd, but the group hurt the most by the U.S.-China trade war is the hedge funds, CNBC’s Jim Cramer said on Thursday. “OK, I’m being a little facetious, but when you think about it, maybe I’m not. Hedge fund managers have lost billions of dollars shorting stocks ever since the trade war
Albertsons Cos last night called off its merger with Rite Aid that would have provided its private equity owners, Cerberus Capital Management, a long-awaited means to unload its more than decade-old grocery investment. The scuttled deal is just the latest in a string of disappointments for Cerberus, which has unsuccessfully tried to shed Albertsons multiple
Scientist Marie Curie is seen as the woman who has had the most significant impact on world history, according to a new poll conducted by the BBC. The Polish-born French physicist and chemist, who’s renowned for discovering polonium and radium with her husband, took the crown in the poll, surpassing the likes of monarchs, activists
Rite Aid Corporation and Albertsons Companies announced on Wednesday they are terminating their merger agreement the evening ahead of a shareholder vote over the deal. The $24 billion deal, announced in February, has faced push-back from a number of retail investors as well as top ten shareholder Highfields Capital Management. Critics have argued the deal
The burger chain Jack in the Box has drawn criticism for its new TV commercial, which features not-so-subtle references to male genitalia. The ad for the company’s new Teriyaki Bowls riffs off the word “bowls” and how similar it sounds to a slang term for testicles. The ad’s wink-wink attitude during a time when many
The American Medical Association, which represents U.S. physicians, urged the U.S. Justice Department on Wednesday to stop CVS Health‘s plan to buy insurance provider Aetna, saying the deal could result in higher prices for prescription medicines. The AMA said that the $69 billion deal, announced in December, would lead to a “substantial reduction” of competition
Avis Budget shares dropped on Wednesday after reporting a full-year revenue forecast below estimates. Shares of the rental car company fell as much as 14 percent after the company said it expects full-year revenue between $9.05 billion and $9.3 billion. Analysts were expecting revenue of $9.27 billion for the year, according to Thomson Reuters. Avis
As Mattress Firm reportedly mulls filing for bankruptcy in order to get out of leases and shutter stores, online start-up Casper is planning to open 200 locations within the next three years across the U.S. Casper opened its first permanent store, in New York, earlier this year. CEO Philip Krim told CNBC at the time
This spring’s large E. coli outbreak caused by tainted romaine lettuce may have been caused by a large industrial farm. That’s according to a new Food and Drug Administration hypothesis. A concentrated animal feeding operation, or CAFO, is near a canal whose water came in contact with the affected romaine lettuce from the Yuma, Arizona,