Money, Wealth & Power—A Daily Look at the Financial World
Tesla’s latest SEC filing and a new move by U.S. safety regulators show that Elon Musk’s Cybercab robotaxi plan is likely to roll out far more slowly than his bold promises suggest. Tesla has now folded Cybercab into its official quarterly report, while the National Highway Traffic Safety Administration has granted a limited testing exemption…
Ikea is carrying out one of its biggest U.S. overhauls in years, shutting some stores while pouring fresh money into new formats and regions. The shakeup signals a decisive move away from relying solely on sprawling suburban warehouses and toward a mix of smaller locations, e-commerce, and services aimed at shoppers who expect speed and…
The sudden disappearance of a specific vodka and whiskey label from store shelves has less to do with rumor and more to do with paperwork. In the United States, a brand effectively vanishes the moment its government-approved label is surrendered, expired, or revoked, and that is what has happened with one mid-shelf spirit that had…
Eddie Bauer is turning its stores into liquidation outlets as the outdoor retailer’s operator works through Chapter 11 bankruptcy. The move underscores how urgently the company needs cash, because selling jackets, boots, and gear is one of the fastest ways to raise money while the court decides what happens next. For shoppers, the all-store sale…
Saks Global’s bankruptcy has moved from legal paperwork to visible fallout, with the company shutting more stores and shrinking its physical footprint. The owner of Saks Fifth Avenue and Neiman Marcus is closing eight Saks Fifth Avenue locations and one Neiman Marcus store as it tries to survive Chapter 11. The cuts show a luxury…
Target is trying to convince Wall Street it can steady the ship by freezing top pay while cutting hundreds of jobs. The company’s longtime chief executive Brian Cornell kept a flat base salary in the latest proxy disclosures, even as comparable sales slipped and boycotts weighed on the brand. He is set to step aside…
President Trump’s latest student loan moves are colliding head‑on with the nursing workforce crunch. On one track, the White House is promising to “restore” relief for public servants such as nurses; on another, his administration is tightening who qualifies and how much graduate students can borrow. The result is a high‑stakes shakeup that nursing leaders…
Chegg’s latest leadership shake-up underscores how sharply executive fortunes can diverge from worker realities. A Bay Area tech chief is set to depart with a $3.5 million package even as the company trims staff and tightens budgets. The gap between a CEO’s negotiated exit and the uncertainty facing laid-off employees has become a defining fault…
The National Restaurant Association is warning that a Trump-era Federal Trade Commission “junk fees” rule could saddle restaurants with $168 million in new costs and eventually push higher prices onto diners. The group argues that a regulation pitched as a crackdown on hidden charges would instead force thousands of eateries to reprint menus, retrain staff,…
For shoppers across the Southeast, the disappearance of Harveys Supermarket is not coming with liquidation banners or teary farewell ads. Instead, the 113-year-old grocery name is fading out through a series of quiet store shutdowns and a corporate rebrand that signals a deeper shift in how Americans buy food. The low-key exit captures a broader…