Peloton CEO Steps Down amid More Layoffs, 92% Drop in Stock Price
Peloton, the once thriving fitness company, is in trouble again as it struggles to regain its footing in the post-pandemic era. CEO Barry McCarthy is stepping down after the company’s stock price fell about 92% during his tenure. The Verge report Peloton recently announced new layoffs affecting approximately 400 employees, representing 15 percent of its […]
Job openings drop to 3-year low of 8.5M as fewer workers quit
U.S. job openings fell to the lowest level in more than three years in March, but remained at historic highs, a sign that the job market remains resilient despite rising interest rates. The Labor Department reported Wednesday that employers posted 8.5 million job openings in March, down from 8.8 million in February and the lowest […]
Americans adjust retirement goals up 15% but savings drop: survey
Gen Z and Millennials have bigger retirement goals, according to a recent Northwestern Mutual study. (iStock) A recent study found that while the amount of money Americans think they need to retire comfortably is growing faster than inflation, the amount they’re saving is falling. According to Northwestern Mutual, U.S. adults believe they need at least […]
Drop in fuel demand and oil prices sends gas prices lower: AAA
AAA says drivers are taking a break and prices are trending down. (iStock) Gasoline prices fell this week as demand for fuel and oil fell, according to the latest AAA report. The national average cost of a gallon of gasoline fell to $3.65, down just 2 cents from the previous week. Gas demand fell from […]
Federal judge rejects Trump’s latest bid to drop $83.3M E. Jean Carroll defamation ruling
A federal judge has upheld the verdict and $83.3 million in damages in the defamation case against author E. Jean Carroll, rejecting former President Trump’s recent attempt at a new trial. in written opinionU.S. District Judge Lewis Kaplan said Trump’s claims are “baseless.” “Mr. endangered,” Kaplan wrote. In January, a jury ordered Carroll to pay […]
Meta shares drop after weak revenue growth, AI expenses warning
Meta Platforms predicted on Wednesday that second-quarter revenue may be lower than market expectations, with a potential reality test centered on expectations about how much new AI tools will boost the company’s business. suggested sex. Meta’s stock price fell about 10% in extended trading following the news, wiping out $125 billion worth of stock market […]
Tesla sees biggest revenue drop since 2012 but company shares still surge | Tesla
Tesla stock rallied after hours on Tuesday after the earnings release, despite a sales miss in the first quarter of 2024, a sharp profit decline, and a recall of its recently launched $100,000 Cybertruck car. It rose nearly 10% in trading. The electric vehicle maker’s sales were $21.3 billion, below expectations of $21.48 billion and […]
Tesla to slash global workforce by more than 10% as sales drop
Tesla has cut more than 10% of its global workforce. CEO Elon Musk called the move a “difficult decision” for the company, which is grappling with declining sales as electric vehicle price competition intensifies. The layoffs, announced Monday in an internal memo to Tesla’s roughly 140,000 employees worldwide, could reach as much as 20% in […]
Apple loses top phonemaker spot to Samsung as iPhone shipments drop, IDC says
Apple’s smartphone shipments will decline by about 10% in the first quarter of 2024 as Android smartphone makers compete for the top spot, data from research firm IDC showed on Sunday. The escalation took its toll. Global smartphone shipments rose 7.8% from January to March to 289.4 million units, with Samsung gaining 20.8% market share […]
Jax Taylor, Brittany Cartwright drop cake at son’s 3rd birthday
You can’t fix what’s broken. Jax Taylor and Brittany Cartwright put on a united front to celebrate their son Cruise’s third birthday on Saturday, but things quickly turned sour when he dropped his birthday cake. In the clip, shared on their respective Instagram Stories, Taylor and Cartwright (who was holding her son in her arms) […]