The U.S. just lost as much as 15% of its small-batch trucking capacity — and consumers are likely to feel the effects in higher prices as the holiday season rolls around. On Monday, Yellow, a…
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Business
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Americans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reported Tuesday. Total credit…
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Disney is raising prices on almost all of its streaming offerings as it looks to accelerate profitability for the business. Commercial-free Disney+ will cost $13.99 per month, a 27% increase, beginning Oct. 12. Disney+ with ads…
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Disney posted mixed results for the fiscal third-quarter despite ongoing streaming woes and massive restructuring costs from pulling content from its platforms. Subscriber losses continued over the last three months, with the company reporting 146.1 million…
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Campbell Soup is set to buy Sovos Brands, the maker of Rao’s pasta sauces. In a Monday announcement, the two companies said they had entered an agreement for Campbell’s to acquire Sovos for $23 per…
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Business
Nearly 10,000 people have offered to change their names to ‘Subway’ to win free subs for life
The hunger is real. Subway announced Tuesday that nearly 10,000 individuals said they would legally change their name to ‘Subway’ to receive free sandwiches for life from the quick-serve chain — and did so within…
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Tesla’s chief financial officer, Zach Kirkhorn, stepped down from his position, effective Aug. 4, the automaker announced Monday morning in a regulatory filing. Tesla’s chief accounting officer Vaibhav Taneja was appointed as the new CFO…
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ESPN is launching an online sportsbook, putting its brand on a gambling platform for the first time. In a release Tuesday afternoon, the Disney-owned property said it would partner with the sports betting group Penn…
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Jimmy Donaldson, known as MrBeast to his 172 million subscribers on YouTube, is being sued by his food delivery service partner, Virtual Dining Concepts (VDC), over their MrBeast Burger agreement. Donaldson filed a lawsuit against…
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Business
Federal Reserve official says more U.S. rate hikes likely will be needed to bring down inflation
The U.S. Federal Reserve will likely need to raise interest rates further to bring down inflation, Governor Michelle Bowman said on Saturday. Bowman said she supported the Fed’s quarter-point increase in interest rates last month,…