America’s supply chain is under attack. From coast to coast, organized criminal groups are hitting trucks on the road, breaking into warehouses and pilfering expensive items from train cars, according to industry experts and law enforcement officials CNBC interviewed during a six-month investigation. It’s all part of a record surge in cargo theft in which […]
Krispy Kreme stock plunged 24% on Thursday morning after the doughnut chain said it is “reassessing” its rollout with McDonald’s and pulled its full-year outlook in part due to economic “softness.” Krispy Kreme is not planning to launch its doughnuts in any additional McDonald’s locations in the second quarter, suspending a nationwide rollout. As of March 30, more […]
A group of investors sued UnitedHealthcare Group on Wednesday, accusing the company of misleading them after the killing of its CEO, Brian Thompson. The class action lawsuit — filed in the Southern District of New York — accuses the health insurance company of not initially adjusting their 2025 net earning outlook to factor in how […]
Advanced Micro Devices CEO Lisa Su said China is a “large opportunity” market for the semiconductor and artificial intelligence industry even as export controls and evolving tariff plans loom over the world’s second-largest economy. “There should be a balance between export controls for national security as well as ensuring that we get the widest possible adoption of our technology,” Su […]
National Basketball Association superstar Russell Westbrook is taking a shot off the court at simplifying funeral planning with artificial intelligence. The famed Denver Nuggets point guard on Wednesday announced the launch of Eazewell, a startup that uses AI technology to streamline the process for coordinating funerals. Westbrook founded the venture with former Charlotte Hornets star Kemba […]
A federal judge ruled on Monday that a class action lawsuit alleging that Burger King falsely advertised the size of its signature cheeseburger can move forward. U.S. District Judge Roy K. Altman in Florida found ‘some’ merit to the plaintiff’s argument that the fast food chain advertised its Whopper cheeseburger and other menu items to […]
Amazon’s Zoox issued a software recall for 270 of its robotaxis after a crash in Las Vegas last month, the company said Tuesday. The recall surrounds a defect with the vehicle’s automated driving system that could cause it to inaccurately predict the movement of another car, increasing “the risk of a crash,” according to a report submitted […]
U.S. pharmacy chain Rite Aid on Monday filed for bankruptcy protection for the second time in as many years, according to a court filing. Pharmacy chains, such as Rite Aid, Walgreens and CVS, have been under pressure as falling drug margins and competition from Walmart and Amazon have led to a closure of hundreds of stores. Walgreens, […]
Footwear giant Skechers has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday. The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the public markets, which is in line with similar takeover […]
Chinese bargain retailer Temu changed its business model in the U.S. as the Trump administration’s new rules on low-value shipments took effect Friday. In recent days, Temu has abruptly shifted its website and app to only display listings for products shipped from U.S.-based warehouses. Items shipped directly from China, which previously blanketed the site, are now labeled […]