Layoffs will be hitting 25% of employees across the Showtime, MTV Entertainment Studios and Paramount Media Networks groups in the U.S. Tuesday, following months of internal deliberations about integration amid Showtime’s rebranding into Paramount+ With Showtime. Additionally, MTV News — which…
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Business
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Peloton is recalling 2 million exercise bicycles over safety concerns, the second major recall the fitness company has faced. According to a Thursday release by the Consumer Product Safety Commission, the bikes’ seat post can…
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Consumer prices climbed 4.9% in April — the first time annual inflation has landed below 5% in two years. On a monthly basis, the inflation rate rose 0.4%, which was higher than the 0.1% in…
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It’s time to step to the sidelines on Anheuser-Busch InBev as it deals with a “Bud Light crisis,” according to HSBC. Analyst Carlos Laboy downgraded the beverage stock to hold, saying there are “deeper problems than ABI…
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Tempur Sealy International said on Tuesday it would buy retailer Mattress Firm in a cash-and-stock deal valued at about $4 billion, as the leading U.S. bedding maker looks to stem a post-pandemic decline in sales. Mattress…
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Worries about money are taking a toll on Americans, leading to some negative impacts on their mental health. That’s according to a new survey from the financial information group Bankrate. The survey found 52% of…
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Business
Flush with cash, the IRS is offering a more accurate picture of when the U.S. will hit debt ceiling
That big infusion of cash that Congress approved last year to shape up the beleaguered IRS is having an unexpected side benefit. The funding increase has helped the agency to catch up on processing new and backlogged tax returns.…
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Business
Warren Buffett says bank runs would have been ‘catastrophic’ without government intervention
Warren Buffett, chairman and CEO of Berkshire Hathaway, praised the government’s intervention in recent bank failures, saying on Saturday it averted what could have become an even bigger crisis. Yet he said the U.S. banking…
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Congress and the White House barrel toward a June 1 deadline to resolve a debate over the debt ceiling, putting the credit and trust of the United States on the line. Treasury Secretary Janet Yellen…
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Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday. Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates of 180,000, according to the…