Chipotle Mexican Grill will open its first location in Mexico early next year as the latest stage in its international expansion. The company announced Monday that it has signed a development agreement with Alsea, which operates Latin American and European locations of Starbucks, Domino’s Pizza and Burger King, among other chains. After the initial restaurant opens in 2026, Chipotle plans […]
Netflix executives messaged Thursday that all is well with the business in the face of economic turbulence. But its full-year outlook tells a slightly more nuanced story. Netflix posted a big beat on operating margin for the first quarter, reporting 31.7% compared with the average estimate of 28.5%, according to StreetAccount. And it guided well above analyst […]
Nintendo on Friday announced that retail preorder for its Nintendo Switch 2 gaming system will begin on April 24 starting at $449.99. Preorders for the hotly anticipated console were initially slated for April 9, but Nintendo delayed the date to assess the impact of the far-reaching, aggressive “reciprocal” tariffs that President Donald Trump announced earlier this month. […]
Capital One Financial’s application to acquire Discover Financial Services in a $35.3 billion all-stock deal has officially been approved by the Federal Reserve and the Office of the Comptroller of the Currency, the regulators announced on Friday. “The Board evaluated the application under the statutory factors it is required to consider, including the financial and managerial resources of the companies, the convenience […]
Harvard’s brewing conflict with the Trump administration could come at a steep cost — even for the nation’s richest university. On April 14, Harvard University President Alan Garber announced the institution would not comply with the administration’s demands, including to “audit” Harvard’s students and faculty for “viewpoint diversity.” The federal government, in response, froze $2.2 billion in multi-year […]
Alphabet’s Google illegally dominated two markets for online advertising technology, a judge ruled Thursday, dealing another blow to the tech giant and paving the way for U.S. antitrust prosecutors to seek a breakup of its advertising products. U.S. District Judge Leonie Brinkema in Alexandria, Virginia, found Google liable for “willfully acquiring and maintaining monopoly power” […]
Target CEO Brian Cornell will meet with the Rev. Al Sharpton this week in New York as the retailer faces calls for a boycott and a slowdown in foot traffic that began after it walked back key diversity, equity and inclusion programs, the civil rights leader told CNBC Wednesday. The meeting, which Target asked for, comes after some […]
French luxury group Hermès will raise its U.S. prices from the start of May in order to offset the impact of President Donald Trump’s tariffs, the company’s finance chief said Thursday. The company — which earlier this week overtook rival LVMH as the world’s biggest luxury firm by market capitalization — is best-known for its Birkin and Kelly handbags, […]
OpenAI is in talks to pay about $3 billion to acquire Windsurf, an artificial intelligence tool for coding help, CNBC has confirmed. Windsurf, formerly known as Codeium, competes with Cursor, another popular AI coding tool, as well as existing AI coding features from companies like Microsoft, Anthropic and OpenAI itself. Bloomberg was first to report on the […]
Chinese online retailer Temu, whose “Shop like a billionaire” marketing campaign made its way to last year’s Super Bowl, has dramatically slashed its online ad spending in the U.S. and seen its ranking in Apple’s App Store plunge following President Donald Trump’s sweeping tariffs on trade partners. Temu, which is owned by Chinese e-commerce giant PDD Holdings, had been on an […]