Recently, California Governor Gavin Newsom signed a series of laws aimed at addressing the escalating issue of retail crime in the state. These laws target various aspects of retail theft, including shoplifting, theft from vehicles, organized theft, and the resale of stolen goods online. The new legislative package comes as a response to mounting pressure
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Alphabet-owned Waymo recently announced the details of its latest self-driving technology, known as “generation 6.” This new driverless tech has been integrated into Geely Zeekr electric vehicles and is designed to handle a wider array of weather conditions without the need for as many expensive cameras and sensors on board. Satish Jeyachandran, Waymo’s vice president
Top Wall Street analysts are recommending project management software provider Monday.com as a top pick for investors looking for stocks with attractive long-term growth potential. The company’s second-quarter results exceeded expectations and it raised its full-year outlook, driven by strong demand from major customers. Notably, the number of paid customers with more than $100,000 in
Starbucks, a once thriving coffee giant, is now facing numerous operational issues that have been impacting its sales in recent quarters. Mobile orders, accounting for one-third of Starbucks’ total sales, have created chaos in stores, leading to frustrated customers, overwhelmed baristas, and long wait times. Former CEO Howard Schultz has identified the mobile app as
The ongoing feud between United Auto Workers President Shawn Fain and Stellantis CEO Carlos Tavares has escalated, with Fain accusing Tavares of engaging in price gouging practices and failing to uphold parts of the union’s labor contract with the automaker. Fain’s criticisms, detailed in a video posted on Friday, paint a grim picture of the
Financial technology firm Klarna is making significant moves into the banking industry by introducing new products aimed at enhancing customer experiences and loyalty. The company’s CEO and founder, Sebastian Siemiatkowski, highlighted the importance of disrupting retail banking and promoting the use of Klarna for day-to-day spending. Klarna is rolling out two new products, “balance” and
Despite the ongoing litigation and financial challenges faced by Landmark Theatres, the company remains resilient in its commitment to the business. With a recent judge setting an auction date for the chain and other properties due to defaulting on a significant loan, the future may seem uncertain. However, Landmark Theatres is dedicated to finding a
Starbucks recently announced that Brian Niccol will be taking over as CEO and Chair, leaving his role as chief executive at Chipotle Mexican Grill. In order to attract Niccol to the company, Starbucks offered him a significant pay increase and one-time awards. Niccol’s compensation package includes a base salary of $1.6 million annually, with the
Chipotle took a hit on Tuesday with a significant drop in their stock price due to the announcement that CEO Brian Niccol will be leaving his position at the end of August to lead Starbucks. The stock plummeted by 10% during the day, ultimately closing 7% lower than the previous day’s close. Since taking over
In recent times, restaurant CEOs have been fixated on the concept of “value” when explaining to investors the reasons behind their declining sales and outlining strategies to drive foot traffic in the future. This emphasis on value was particularly highlighted during McDonald’s quarterly conference call last month, where the word was mentioned nearly 80 times.
In the digital age, data centers have become essential infrastructure, requiring massive amounts of power to run efficiently. Tech companies are now seeking clean energy sources to power these data centers, with some turning to directly connecting them to nuclear plants. This move comes as the demand for power is increasing, driven by factors such
Automaker Stellantis is set to indefinitely lay off up to 2,450 U.S. factory workers as part of their plans to discontinue production of an older version of the Ram 1500 pickup truck at the Warren Truck Assembly Plant in Michigan. This particular truck has been known for its affordability and has catered to entry-level buyers
Delta Air Lines recently announced that the CrowdStrike outage and subsequent mass flight cancellations in the past month resulted in a staggering cost of approximately $550 million. The financial implications of this included a $380 million reduction in revenue for the current quarter. This loss was primarily due to refunding customers for canceled flights and
Eli Lilly’s stock soared by 8% after surpassing second-quarter earnings and revenue expectations. The firm raised its full-year revenue outlook by $3 billion, driven by strong sales of key products such as Mounjaro and Zepbound. This indicates a positive trend for the company and reflects investor confidence in its performance. Under Armour witnessed a 19%