Delivery Hero shares jumped more than 10% after reports that Uber Technologies Inc. is considering an improved takeover bid for the German food delivery company Delivery Hero SE. Delivery Hero confirmed it received an offer from Uber valued at €33 per share, which would put the company’s value above €10 billion. The Financial Times reported that Uber’s board has been discussing a higher bid after an earlier offer … Continue reading Delivery Hero shares rise 10% as rival Uber mulls another takeover bid

SKS Copack has recalled a variety of specialty drinks sold in cafes, restaurants, and online across 25 U.S. states due to possible salmonella contamination. The issue is tied to milk powder used in the beverages that may have been affected by a broader recall involving California Dairies Inc.. Several other brands have also issued recalls in recent weeks for the same reason. The Food and Drug … Continue reading Specialty drinks in 25 states recalled due to salmonella concerns

Individuals affected by a November 2024 Krispy Kreme data breach may be eligible for payments of up to $3,500 as part of a $1.62 million settlement. The breach allegedly exposed sensitive personal information, including Social Security numbers, financial data, and birth dates, though Krispy Kreme denies wrongdoing. Eligible U.S. residents who received notice can claim a $75 payment without documentation or higher compensation if they … Continue reading Some eligible for up to $3,500 in Krispy Kreme data breach settlement

Guzman y Gomez, an Australian fast-casual Mexican chain once aiming to expand widely in the U.S., has permanently closed all eight of its American restaurants in the Chicago area after six years of operations. The company said the decision followed weak sales performance and a reassessment that further expansion would require more time and investment than expected. Despite earlier ambitions to open hundreds of U.S. … Continue reading Chipotle rival Guzman y Gomez Mexican Kitchen closes all US restaurants

Oil prices fell sharply as markets reacted to cautious optimism over a possible deal to end the US-Israel war with Iran. Brent crude dropped about 5 percent, though prices remain higher than before the conflict began due to ongoing disruptions in global supply. President Donald Trump said negotiations with Tehran were progressing but urged caution, emphasizing that any agreement must be carefully finalized. He previously … Continue reading Oil prices fall amid mixed signals on US-Iran peace deal

Stellantis announced a major five-year strategy involving €60 billion in investments aimed at boosting growth, efficiency, and profitability by 2030. The plan includes €36 billion for its vehicle brands, with most spending focused on North America, and €24 billion for platforms and new technologies. The company expects to launch over 60 new models, refresh 50 existing ones, and expand across electric, hybrid, and traditional vehicles. … Continue reading Stellantis unveils $70 billion turnaround plan

The U.S. government is expanding its investment in quantum computing with over $2 billion in planned CHIPS-related incentives for major tech companies. The Department of Commerce has signed letters of intent with nine firms, including IBM, D-Wave, Rigetti Computing, and others, to support development of quantum hardware and domestic manufacturing capacity. The funding includes major allocations such as $1 billion for IBM’s quantum foundry and hundreds of millions … Continue reading U.S. Puts $2 Billion Behind Quantum Firms as Bitcoin Security Debate Grows

Walmart issued a weaker-than-expected financial outlook for the current and upcoming quarters, raising concerns about pressure on U.S. consumers amid higher fuel prices and economic uncertainty. The company forecast earnings below Wall Street expectations, which sent its shares down about 8%, even though first-quarter revenue rose 7% and beat estimates. Executives said consumers are feeling uneven financial pressure, with higher-income shoppers still spending strongly while … Continue reading Walmart issues worse-than-expected outlook, shares drop 7%

U.S. federal authorities are investigating allegations that Chinese manufacturers may have restricted global shipping container production shortly before the COVID-19 pandemic, potentially driving up prices and disrupting supply chains. Investigators believe several dominant firms reduced output in late 2019 by limiting work hours, which may have contributed to a coordinated effort to tighten supply. The alleged actions came just before pandemic-related disruptions further strained global … Continue reading U.S. probing whether Chinese companies cut production of shipping containers before COVID pandemic

More than 47,000 Samsung Electronics workers are set to begin a strike after wage negotiations between the company and its union collapsed. The dispute centers on performance-based bonuses, with the union demanding higher payouts and changes to the compensation system. The breakdown in talks followed rejected mediation efforts and conflicting accounts between Samsung and union leaders over delays in decision-making. Samsung warned that the union’s … Continue reading Over 47,000 Samsung Electronics workers set to strike as wage talks break down

U.S. Treasury yields have surged to multi-year highs, with the 30-year bond rising above 5.19% and the 10-year approaching 4.69%, sparking concerns about financial market stability. HSBC warned that Treasurys have entered a “danger zone” where higher yields could begin pressuring stocks and other risk assets. Analysts say the selloff reflects concerns over sticky inflation, shifting interest rate expectations, and geopolitical uncertainty, even as some … Continue reading U.S. Treasurys are now firmly in the ‘danger zone,’ strategists say

Meta is planning to cut about 10% of its workforce, or roughly 8,000 jobs, as part of a broader restructuring effort that also includes eliminating thousands of open roles. The layoffs come after several earlier rounds of job cuts and reflect CEO Mark Zuckerberg’s continued push to “run the company more efficiently.” At the same time, Meta is significantly increasing spending on artificial intelligence, with … Continue reading Meta layoffs starting this week stress harsh AI reality

Google and Blackstone are partnering to launch a new AI-focused cloud company aimed at expanding data center capacity and providing access to Google’s custom AI chips. Blackstone plans to invest $5 billion initially and will likely hold a majority stake in the venture, which is expected to bring its first major capacity online by 2027. The company will compete in the growing market for AI … Continue reading Google, Blackstone launch cloud company as Wall Street races to fund AI boom

U.S. Treasury yields surged Friday as investors reacted to volatile inflation data and uncertainty over monetary policy under new Federal Reserve Chair Kevin Warsh. The 10-year and 30-year yields rose sharply, hitting multi-month highs as markets priced in the impact of persistent inflation. Recent data showed inflation accelerating across consumer prices, producer prices, and import costs, while energy prices also climbed due to geopolitical tensions. … Continue reading 30-year Treasury yield tops 5.1%, highest in nearly a year

New York officials urged commuters to work from home Monday after a strike by Long Island Rail Road workers shut down the nation’s busiest commuter rail system for the first time in about 30 years. Governor Kathy Hochul said emergency transit options, including shuttle buses and extra subway service, were being deployed, but warned the system cannot fully replace LIRR service. The strike followed the … Continue reading New York braces for chaotic Monday commute amid Long Island Rail Road strike

Fuel and food prices continue to rise due to higher energy costs, tariffs, and ongoing geopolitical tensions, including the conflict involving Iran. In the Twin Cities, gas prices jumped nearly 30 cents overnight to an average of $4.44 per gallon, with Minnesota’s average rising about 70 cents in a month. Grocery costs are also up roughly 20% since 2022, meaning a $100 shopping trip now … Continue reading Grocery prices increase as conflict in Iran continues

Honda Motor’s shares rose more than 7% despite the company reporting its first annual operating loss in nearly 70 years. The automaker posted a $2.61 billion loss, driven by heavy EV restructuring costs, U.S. tariffs, and intense competition from Chinese electric vehicle makers. Honda is scaling back some planned EV launches and expects its restructuring efforts to cost more than $9 billion as it adjusts … Continue reading Honda shares rise over 7%

The Senate has confirmed Kevin Warsh as the next chair of the Federal Reserve, placing him in charge of U.S. monetary policy amid rising inflation and debate over interest-rate direction. He will also serve a 14-year term on the Fed’s Board of Governors and is expected to lead his first policy meeting in June after final administrative steps are completed. Warsh succeeds Jerome Powell as chair, while Powell remains a … Continue reading Warsh clinches Senate approval to be Fed’s next chair as inflation intensifies

Tariff refunds have begun reaching U.S. companies after a Supreme Court ruling earlier this year found some tariffs unconstitutional. Firms like Oshkosh Corporation and Basic Fun confirmed they have started receiving partial payments, though the total refund amounts are still being calculated. Logistics companies such as UPS, FedEx, and DHL are helping process claims, which could ultimately total over $35 billion according to U.S. Customs … Continue reading Companies start getting tariff refunds after Supreme Court decision

Japanese snack company Calbee will temporarily switch to black-and-white packaging for some products after disruptions to ink-related materials caused by the Iran war and resulting supply chain issues. The company said 14 products, including crisps and prawn crackers, will be affected starting in late May as it tries to maintain stable supply. The disruption stems from wider global shortages of oil-derived materials like naphtha, which … Continue reading Snack giant switches to black and white packaging as Iran war hits ink supplies

Consumer prices rose faster than expected in April, with inflation climbing 0.6% for the month and 3.8% over the past year, driven largely by surging energy and gasoline costs. Core inflation, which excludes food and energy, also remained elevated at 2.8%, well above the Federal Reserve’s 2% target. Rising costs in housing, airfare, and other tariff-sensitive goods added to inflation pressures, while wages failed to … Continue reading Consumer prices rose 3.8% annually in April

Sales of previously owned U.S. homes were nearly unchanged in April, rising just 0.2% from March and coming in below analyst expectations, according to the National Association of Realtors. The flat performance reflects deals likely made when mortgage rates were higher and volatility increased following geopolitical tensions that pushed borrowing costs up. Housing supply edged slightly higher but remained tight at 4.4 months, well below … Continue reading April home sales disappoint as higher mortgage rates weigh on buyers

Amazon says it will stop allowing sales in California of certain high-speed e-bikes that exceed state limits, following several deadly crashes and increased safety concerns. The move comes after state officials, including Attorney General Rob Bonta, issued guidance calling for stricter speed limits and clearer distinctions between e-bikes and higher-powered electric motorcycles. Safety advocates say the changes could help reduce confusion over e-bike classifications and … Continue reading Amazon says it won’t sell e-bikes in California that exceed state speed limits

Texas Attorney General Ken Paxton filed a lawsuit against Netflix, accusing the company of secretly tracking users, including children, and using addictive platform design features to keep viewers engaged. The state alleges Netflix misled consumers by claiming it did not collect or share user data while allegedly selling viewing habits to advertisers and data brokers for profit. The lawsuit also claims Netflix uses “dark patterns,” … Continue reading Texas accuses Netflix of spying on children in new lawsuit

General Motors has agreed to pay $12.75 million to settle allegations that it illegally sold the location and driving data of hundreds of thousands of California drivers to data brokers without their consent. California Attorney General Rob Bonta said the automaker collected sensitive information through its OnStar system and shared it between 2020 and 2024 despite telling customers it would not sell such data. Regulators … Continue reading General Motors to pay $12.75m settlement for selling drivers’ location and data