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Business News

Tuesday, May 21, 2019 at 08:48 PM EDT

Tesla Reduces Prices on Models S and X Amid Stock Slump

Tesla Reduces Prices on Models S and X Amid Stock Slump

Tesla has reduced the prices of its two most expensive models, raising concerns about fading interest in its cars and whether the company can generate enough cash to pay all the bills. On Monday, Tesla cut...

Tuesday, May 21, 2019 at 06:31 PM EDT

Department Store Woes Reflected in Latest Batch of Results

Department Store Woes Reflected in Latest Batch of Results

The outlook for department stores grew murkier Tuesday after J.C. Penney, Kohl's and Nordstrom reported fiscal first quarter results that reflected their struggles at the start of the year. Penney, which has...

Tuesday, May 21, 2019 at 05:52 PM EDT

California Senate OKs Bill Creating Special Banks for Pot Retailers

California Senate OKs Bill Creating Special Banks for Pot Retailers

Shut out of the traditional banking system by federal laws, the country's largest legal marijuana market in California could benefit if the state approves a measure creating a special class of banks to handle...

Tuesday, May 21, 2019 at 05:44 PM EDT

Apple Bid to Buy Tesla in 2013 for $240 a Share: Analyst

Apple Bid to Buy Tesla in 2013 for $240 a Share: Analyst

With Tesla’s stock sinking to around $200 this week, Craig Irwin, an analyst at Roth Capital Partners, told CNBC on Tuesday that the electric car company could have sold to Apple six years ago for a significant...

Tuesday, May 21, 2019 at 03:27 PM EDT

Comcast Is Working on an In-Home Device to Track People’s Health

Comcast Is Working on an In-Home Device to Track People’s Health

Comcast is working on a device like the Amazon Echo or Google Home, but with a focus on monitoring health at home, and aims to begin pilot-testing it later this year. A team under Sumit Nagpal, a senior...

Tuesday, May 21, 2019 at 01:23 PM EDT

Slack Changes Ticker Symbol to WORK Ahead of New York Stock Exchange Debut

Slack Changes Ticker Symbol to WORK Ahead of New York Stock Exchange Debut

Slack is gearing up for its stock market debut and has landed on a new ticker symbol: WORK. In an updated prospectus on Monday, the company said it’s received approval from the New York Stock Exchange to list...

Tuesday, May 21, 2019 at 08:20 AM EDT

Blue Apron Latest to Suffer in Tough Meal Kit Market

Blue Apron Latest to Suffer in Tough Meal Kit Market

Meal kit companies face an ultimatum: Adapt or die. The business is still in its infancy, with the biggest players — Blue Apron and HelloFresh — less than a decade old. But they're facing serious challenges...

Tuesday, May 21, 2019 at 06:58 AM EDT

Women’s Clothing Chain Dressbarn to Close All Its 650 Stores

Women’s Clothing Chain Dressbarn to Close All Its 650 Stores

Dressbarn, the women's clothing chain that's been around for nearly 60 years, is closing all 650 of its stores. The company's chief financial officer, Steven Taylor, said Dressbarn has not been operating at...

Monday, May 20, 2019 at 02:22 PM EDT

Ford Cuts 7,000 White-Collar Jobs, Including 500 in US

Ford Cuts 7,000 White-Collar Jobs, Including 500 in US

Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10% of its...

Sunday, May 19, 2019 at 04:38 PM EDT

Average US Price of Gas Drops 3 Cents Per Gallon to $2.93

Average US Price of Gas Drops 3 Cents Per Gallon to $2.93

The average U.S. price of regular-grade gasoline fell 3 cents a gallon over the past two weeks, to $2.93. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that it's the first price drop at...

 

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