Tag Archives: business

New Bernie Plan: Tax Companies With Highly-Paid CEOs

Politico reports: Bernie Sanders has a new plan to reduce the widening gap between the rich and poor. The presidential candidate and decades-long crusader against income inequality unveiled a proposal Monday to raise taxes on businesses whose CEOs make at least 50 times more than their median workers. The boost in corporate taxes would be imposed on companies that bring …

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Corporations Advise Investors On Mass Shooting Risks

CBS News reports: When publicly listed companies disclose risks for shareholders in their filings with the Securities and Exchange Commission, they typically cite business factors such as potential economic downturns, labor costs and currency fluctuations. But a new threat is starting to appear in annual earnings reports: The danger of getting shot. The Cheesecake Factory and Dave & Buster’s Entertainment …

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Equifax To Pay Up To $700M Over Massive Data Breach

USA Today reports:  Credit-reporting company Equifax will pick up the tab in a deal with the Federal Trade Commission, Consumer Financial Protection Bureau and 50 states and territories to settle allegations that it did not implement sufficient security measures to protect its network. The deal calls for Equifax to pay at least $575 million, including $300 million for free credit …

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Kohl’s Stores To Accept And Process Amazon Returns

The New York Times reports: It says volumes about the challenges facing brick-and-mortar stores that the “single biggest initiative” out of Kohl’s this year, according to the national retailer’s chief executive, is that it will now accept and process unwanted orders from Amazon. Kohl’s said on Monday that it was now accepting Amazon returns at its more than 1,100 stores …

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Auto Industry Icon Lee Iacocca Dead At 94 [VIDEO]

CNBC reports: Lido Anthony Iacocca, the automobile industry legend best known as “Lee,” died at the age of 94 on Tuesday morning, his family confirmed. A child of Italian immigrants who grow up in humble conditions, Iacocca became one of the most powerful — and best known — executives in Detroit. Iacocca rose to become president of Ford Motor in …

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Grubhub Under Fire For Making 34,000 “Copycat” Sites That Masquerade As Homepages For Restaurants

The New York Post reports: Grubhub has created thousands of Web sites that masquerade as the sites of restaurants — a practice that can jack up prices for hungry customers, The Post has learned. The online food-ordering giant, which also owns Seamless and Menupages, has scooped up more than 34,000 URLs since 2010 with names that are similar to restaurants’ …

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Ex-Wife Of Jeff Bezos Pledges $17 Billion To Charity

Vox reports: Less than two months after finalizing her divorce from the world’s richest person, MacKenzie Bezos has indicated that she intends to be a far more generous philanthropist than her husband has ever been. MacKenzie Bezos announced in a letter on Tuesday that she had signed the Giving Pledge, a commitment to give half of her $35 billion in …

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Walmart To Roll Out Free One-Day Delivery Program

The Verge reports: Walmart will offer free one-day delivery on up to 220,000 items on its online store with orders over $35. Walmart is currently offering the new service in Phoenix and Las Vegas, and will come to Southern California in the coming days. The retailer expects the service to be available to 75 percent of the US by the …

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Party City To Shutter 45 Stores Due To Helium Shortage

USA Today reports: Amid a global helium shortage, Party City announced Thursday it will shutter 45 stores in 2019. The New Jersey-based party supplies company did not release a list of affected stores but said the closures will take place throughout the year. Party City said it is working to secure a new helium source and a contract, which is …

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Sweetgreen Chain To Begin Taking Cash Again As Some Municipalities Move To Prohibit Cashless Businesses

The Daily Beast reports: Sweetgreen will begin accepting cash again at all 94 of its nationwide locations by September 30, Bloomberg reports. The popular fast-casual salad chain stopped accepting cash in 2016, a decision that was met with criticism. Critics argue that cashless businesses discriminate against customers who might not have access to lines of credit or mobile payment apps. …

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Paint-By-Numbers Creator Dies At Age 93 [VIDEO]

The Associated Press reports: The artist who created the first paint-by-numbers pictures and helped turn the kits into an American sensation during the 1950s has died, his family confirmed. Dan Robbins’ son says his father died Monday in Sylvania, Ohio. He was 93. Robbins came up with the idea for paint-by-numbers photos in the 1940s while working for the Palmer …

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Online Shopping Overtakes Brick-And-Mortar Sales

CNBC reports: Online shopping led by Amazon hit a new milestone in February. The total market share of “non-store,” or online U.S. retail sales was higher than general sales for the first time in history, according to a report from the Commerce Department this week. Non-store retail sales last month accounted for 11.813 percent of the total, compared with 11.807 …

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GERMANY: Owners Of Global Conglomerate To Donate Millions After Revelations Of Nazi Slave Labor Past

Slate reports: One of Germany’s richest families is coming to terms with a disturbing past. The family that owns a controlling stake in Krispy Kreme Doughnuts and Panera Bread, among others, will donate $11 million to charity after learning that their ancestors were staunch supporters of Adolf Hitler and extensively used forced labor. The family announced its planned charitable donation …

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161 Major Corporations Back LGBTQ Equality Act

Just in from the Human Rights Campaign: HRC announced that an unprecedented 161 leading businesses have joined HRC’s Business Coalition for the Equality Act. With a combined operation in all 50 states, headquarters in 26 states, more than $3.7 trillion in revenue, and more than 8.5 million employees across the United States, these companies know how important it is to …

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Philadelphia City Council Bans Cashless Stores

The Wall Street Journal reports: Philadelphia is the first major U.S. city to ban cashless stores, placing it at the forefront of a debate that pits retail innovation against lawmakers trying to protect all citizens’ access to the marketplace. Starting in July, Philadelphia’s new law will require most retail stores to accept cash. A New York City councilman is pushing …

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Forbes: Billionaires Worth Combined $8.7 Trillion

Forbes reports: Capitalism is taking some lumps—and not just in the headlines. For only the second year in a decade, both the number of billionaires and their total wealth shrank, proving that even the wealthiest are not immune to economic forces and weak stock markets. By our latest count there are 2,153 billionaires, 55 fewer than a year ago. Of …

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86 Tons Of Frozen Pork Recalled Over Glass And Plastic

CBS News reports: More than 86 tons of frozen Boston Market dinners are being recalled from retailers across the U.S., as well as from a Defense Department facility, after consumers reported that some items contained pieces of glass or plastic. Produced by Bellisio Foods in Jackson, Ohio, between Dec. 7, 2018, to Feb. 15, 2019, the boneless pork rib patties …

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Levi Strauss Files Plan To Take Company Public

CNBC reports: Levi Strauss filed the paperwork for an initial public offering Wednesday. The iconic denim company plans to list on the New York Stock Exchange with the ticker “LEVI.” According to its SEC filing, the San Francisco-based company plans to raise $100 million through the IPO, a placeholder amount used to calculate fees, but CNBC’s Leslie Picker previously reported …

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Shutdown Has Already Cost US Economy $3.6 Billion

CNBC reports: If the government shutdown lasts another two weeks, the total cost to the U.S. economy would exceed the price of building the proposed border wall. According to an estimate by S&P Global, it will only take another two weeks to cost the economy more than $6 billion, exceeding the $5.7 billion that President Donald Trump demanded to fund …

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Really Most Sincerely Dead: Sears Rejects Bailout Bid

CNBC reports: Sears has rejected Chairman Eddie Lampert’s bid to save the company, setting the storied retailer on a path to liquidation, people familiar with the situation tell CNBC. Sears plans to announce its liquidation plans this morning, the people said. Lampert had put forward a $4.4 billion bid to save Sears and 50,000 jobs by buying it out of …

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