Home Depot, like many other businesses, is closely monitoring the Federal Reserve’s decisions regarding interest rates. Chief Financial Officer Richard McPhail highlighted that homeowners are postponing major projects due to higher interest rates. This delay has been further exacerbated by speculations of an interest rate cut. Homeowners are hesitant to borrow for projects now, opting
Business
Blink Fitness, a budget-friendly gym chain under the luxury fitness company Equinox Group, recently made headlines by filing for Chapter 11 bankruptcy protection. With over 100 centers across the United States, Blink Fitness joins a growing list of fitness chains seeking bankruptcy in the wake of the pandemic, including New York Sports Club, 24 Hour
General Motors recently introduced the redesigned versions of its entry-level GMC Terrain crossover, showcasing a sleek and rugged exterior design. One of the most significant upgrades is the addition of a new standard “Elevation” model, which aims to elevate the driving experience for consumers. The interior of the compact crossover has also been revamped to
DirecTV, a company once known for its reliance on satellite dishes mounted on homes and buildings, is entering a new era of streaming services. The shift in focus comes as the traditional pay TV industry faces mounting pressure from streaming platforms, leading DirecTV to rebrand itself as more than just a satellite TV provider. One
In recent months, restaurant CEOs have been placing a heavy emphasis on the word “value” when discussing their sales performance with investors. The concept of value has become crucial as prices for food away from home have increased significantly since 2019. This rise in prices has led to a decline in restaurant traffic and sales,
Ever since the merger of Discovery with WarnerMedia in 2022, David Zaslav, the Chief Executive Officer of Warner Bros. Discovery, has been under immense pressure to turn the company’s fortunes around. The immediate cost-cutting measures implemented after the merger did not sit well with shareholders, and the company’s shares have plummeted by 70% since the
Paramount Global recently announced a significant cost-cutting measure, with a plan to cut 15% of its U.S. workforce, affecting around 2,000 jobs. This move is part of a broader strategy as the company prepares for a merger with Skydance Media. Paramount aims to achieve $500 million in cost savings as part of $2 billion in
Automaker Stellantis recently announced plans to indefinitely lay off up to 2,450 U.S. factory workers due to the discontinuation of an older version of its Ram 1500 pickup truck in Michigan. The Ram 1500 Classic has been a staple for entry-level buyers and fleet customers, but its production will be coming to an end later
Frustrated with the inconsistencies in bounce and durability of pickleballs on the market, Life Time’s founder and CEO Bahram Akradi decided to create a solution. This decision led to the development of what is being hailed as “the ultimate pickleball” by the upscale fitness and lifestyle company. This move showcases Akradi’s dedication to improving the
Delta Air Lines recently revealed that the CrowdStrike outage and subsequent mass flight cancellations in the previous month had a staggering financial impact amounting to $550 million. This includes a $380 million revenue hit primarily due to refunding customers for cancelled flights and providing compensation in cash and SkyMiles. Additionally, there was a $170 million