Forget the drive-thru. Walmart wants diners to find a value meal in its grocery aisles. As fast food gets pricier, the nation’s largest grocer sees a sales opportunity. On a call with CNBC on Thursday, Walmart Chief Financial Officer John David Rainey said some of the discounter’s sales growth in the recent quarter came from customers who turned to […]Read More
Netflix’s cheaper, ad-supported tier has amassed 40 million global monthly active users, the company said Wednesday. That’s nearly double the 23 million figure the streaming giant shared in January. Separately, Netflix announced it would launch its own advertising platform and no longer partner with Microsoft for that technology. The tech giant will remain a programmatic advertising partner. […]Read More
McDonald’s is set to offer a $5 value meal in the U.S., but only for a limited time. The promotion will include four items for $5 — a McChicken or McDouble, four-piece chicken nuggets, fries and a drink — and will run for roughly a month, beginning on June 25, according to a person familiar with […]Read More
Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla’s comparable Model Y. Deliveries for Onvo’s first car, the L60 SUV, are set to begin in September, the company said. Pre-sales began after Wednesday’s launch event. Nio CEO William Li said he expects Onvo to […]Read More
The consumer price index, the most-watched inflation measurement put out by the U.S. government,declined slightly to3.4% on a 12-month basis in April as price growth in the economy remained elevated. Compared with March, prices climbed 0.3%, with rent and gasoline contributing 70% of the monthly increase, according to the Bureau of Labor Statistics. That was […]Read More
Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel retailer also saw profits sink by more than 96% during its fiscal fourth quarter, compared with the year-ago period. It’s […]Read More
As he nears the end of his first term, President Biden, a long-standing institutionalist, is growing more comfortable using the full powers of the presidency — and in an election year, his latest actions have the added benefit of potentially shaping the political landscape in his favor. On Thursday morning, Biden asserted executive privilege over […]Read More
The U.S. military said Thursday that its floating pier had been anchored to the Gaza shoreline with humanitarian deliveries to the war-ravaged territory to begin “within days,” but it remained unclear whether the United States or Israel has solidified an agreement to distribute the incoming food and other supplies for starving Palestinians. This post appeared […]Read More
NEW YORK — The central witness against Donald Trump withstood a withering cross-examination Thursday from the former president’s defense lawyer, who accused Michael Cohen of lying as recently as two days ago to realize his dreams of revenge against his ex-boss. The confrontation between Cohen and Trump lawyer Todd Blanche was the most anticipated moment […]Read More
The Republican chairs of the powerful House Judiciary and Oversight committees slammed the Biden administration this week, accusing the president and Attorney General Merrick Garland of politicizing the justice system. But as Reps. Jim Jordan (R-Ohio) and James Comer (R-Ky.) pilloried the White House and the Justice Department, their committees were hobbled by attendance problems: […]Read More
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