Business

CNBC reports: Fast-fashion retailer Forever 21′s U.S. operating company on Sunday filed for Chapter 11 bankruptcy for the second time in six years, hamstrung by dwindling mall traffic and mounting competition from online retailers. The move likely means liquidation for the company, which was unable to find a buyer for its roughly 350 U.S. stores. Its trademark and intellectual property …

Ars Technica reports: Since Amazon announced plans for a generative AI version of Alexa, we were concerned about user privacy. With Alexa+ rolling out to Amazon Echo devices in the coming weeks, we’re getting a clearer view at the privacy concessions people will have to make to maximize usage of the AI voice assistant and avoid bricking functionality of already-purchased …

NBC News reports: A California delivery driver was awarded $50 million in damages after a jury agreed a Starbucks location was negligent in its handling of a scalding hot tea. Michael Garcia sued the cafe chain after a tea spilled in his lap at a drive-thru and caused permanent disfigurement to his penis. His attorney Nick Rowley said in a …

Fortune reports: In the the latest sign the Tesla Cybertruck risks becoming Elon Musk’s first full-blown flop, sales of the pickup have been halted amid growing cases of metal paneling falling off. EV enthusiast site Electrek reported Tesla delivery agents as saying all outbound vehicles have been stopped amid concerns that the glue holding the exterior stainless steel paneling in …

The CBC reports: Hudson’s Bay Company is nearly a billion dollars in debt, according to court filings that paint a dire portrait of the struggling Canadian department store chain’s finances. The documents were submitted as part of its creditor protection filing last week. The company owes a total of $950 million to nearly 2,000 secured and unsecured creditors. Some experts …

NBC News reports: It’s happening: Southwest Airlines will start charging passengers to check bags for the first time. It’s a stunning reversal that shows the low-cost pioneer is willing to part with a customer perk executives have said set it apart from rivals in more than half a century of flying in hopes of increasing revenue. Southwest’s changes come after …

Reuters reports: Tesla’s stock has dropped by nearly half in three months. Even so, investors are still debating whether Elon Musk’s electric-vehicle maker remains overpriced. The company’s market capitalization has dropped 45% since hitting an all-time high of $1.5 trillion on December 17, erasing most of the gains the stock made after CEO Musk helped finance the election victory of …

Norfolk’s PBS affiliate reports: A controversial military-themed brewery championed by Gov. Glenn Youngkin is closing a little more than a year after opening in Norfolk. The company blames a “local woke mob,” but legal filings show a company in deep financial distress dating back years. Armed Forces CEO Alan Beal wrote in a statement the company will sell its Norfolk …

Boston’s ABC affiliate reports: Crews responded to a Littleton shopping complex early Monday morning where seven Tesla EV chargers caught fire, and investigators believe the act was intentional. First responders shows up just after 1 a.m. after receiving reports from a neighbor who saw the fire. Firefighters say the chargers suffered heavy fire damage, and after power was cut to …

CBS News reports: Kroger CEO Rodney McMullen is resigning following a probe into his personal conduct, the grocery chain said Monday. McMullen, who was both the chairman and CEO, is out after a company board investigation found that his personal conduct, “was inconsistent with Kroger’s Policy on Business Ethics,” the company said on Monday. His behavior was unrelated to business, …

NPR reports: Skype, the pioneering and once ubiquitous free video calling service, will be history come May. It was so popular that people used it as a verb: “I’ll Skype you in the morning.” Microsoft, which acquired Skype in 2011 for $8.5 billion, announced in a post on X on Friday that the iconic voice-over-Internet protocol (VoIP) service would soon …

CBS News reports: Coffee giant Starbucks is shaking up its drinks menu, removing 13 “less popular” beverages from the list of offerings to help streamline operations and move customers through stores more quickly, according to the company. The move comes as the company also plans to cut 1,100 workers as part of a turnaround plan CEO Brian Niccol hopes will …

Yahoo Finance reports: President Donald Trump urged Apple to “get rid” of its diversity, equity, and inclusion (DEI) policies a day after the company’s investors voted down a proposal to scrap them. “APPLE SHOULD GET RID OF DEI RULES, NOT JUST MAKE ADJUSTMENTS TO THEM. DEI WAS A HOAX THAT HAS BEEN VERY BAD FOR OUR COUNTRY. DEI IS GONE!!!” …

Reuters reports: Apple shareholders voted to keep the tech giant’s diversity, equity and inclusion policies at an annual meeting on Tuesday, a win for management which had opposed efforts by a conservative group to scrap the program. The vote was seen as a test of shareholder views about the value of DEI programs, which many companies added or beefed up …

The Independent reports: A CEO resigned after appearing to gesture a Sieg Heil in front of a montage of President Donald Trump pictures at a company event and later admitted his “parody fell short.” Tom Hill, the chief executive of Idaho-based Engineered Stuctures, Inc., stepped down from the construction company Monday after a video of him giving two straight-arm salutes …

NBC News reports: Fabrics outlet Joann will shutter all of its approximately 800 locations after failing to find a buyer who would keep its stores open. In a statement, the company said it would commence nationwide going-out-of-business sales as a stipulation of the group that won its assets at auction. Joann listed some 19,000 employees, most of them part-time, when …

CNBC reports: Denny’s will temporarily add surcharges to meals that contain eggs as Americans contend with a shortage of the staple food item, the restaurant chain said Monday. The company said the size of the surcharge will vary across its approximately 1,500 locations. It marks the latest shift for consumers and businesses alike as they grapple with the bird flu’s …

Axios reports: Apple on Monday morning announced plans to invest more than $500 billion in the U.S. and hire 20,000 people over the next four years, with expansion and construction planned from coast to coast. The new jobs will focus on research and development, silicon engineering, software development, and AI and machine learning. Apple plans to greatly expand chip and …

Investing.com reports: Tesla Inc. is issuing a recall for 376,241 vehicles, according to a notice filed with the National Highway Traffic Safety Administration. The recall involves certain 2023 Model 3 and Model Y vehicles that are operating on software versions prior to 2023. The issue lies with the printed circuit board for the electronic power steering assist. This component may …

Bloomberg News reports: Trump Media & Technology Group Corp. rewarded employees with more than $107 million in stock last year as revenue declined and it posted a $401 million loss, according to an annual report posted after markets closed Friday. Revenue slipped more than 12% to $3.6 million while its annual loss swelled more than six-fold. The results boosted the …