Pedestrians walk past a Victoria’s Secret store, a subsidiary of L Brands, in New York. Craig Warga | Bloomberg | Getty Images L Brands shares shot up nearly 7% in premarket trading Friday after the company hiked its profit outlook for the current quarter, and said it would be reinstating an annual dividend, paying down

If Hollywood were to address racial inequities in the film and TV industry, annual revenue could rise by 7%, or about $10 billlion, according to the findings of a new study from McKinsey. The consulting firm’s research found that Black-led stories are underfunded and undervalued. “A complex, interdependent value chain filled with dozens of hidden

The Nike logo is seen on the Nike store on February 22, 2021 in New York City. John Smith | Corbis News | Getty Images Nike has laid out a five-year roadmap to creating a more diverse and inclusive workforce, the company announced Thursday, as corporate America is increasingly being held accountable for their values

2022 Jeep Grand Wagoneer Jeep DETROIT – Jeep’s long-awaited Grand Wagoneer SUV will push the quintessential off-road brand further into luxury vehicles with a fully loaded model topping $111,000 when it goes on sale later this year. The new three-row SUV will test whether Jeep can expand its product range into the lucrative luxury SUV

US President Joe Biden speaks on the production of the Covid-19 vaccine in the South Court Auditorium, next to the White House, in Washington, DC, on March 10, 2021. Mandel Ngan | AFP | Getty Images President Joe Biden said he will announce the “next phase” of the U.S. Covid-19 response during his primetime address

Cure Hydration founder and CEO Lauren Picasso had to come up creative ways to get the company’s fruit-flavored products into shoppers’ baskets because of the pandemic. Cure Hydration Cure Hydration’s lucky break came at a strange time. Walmart, CVS and Amazon-owned Whole Foods began carrying the start-up’s fruit-flavored hydration powder during the pandemic. Yet boxes

General Electric on Wednesday said it reached a deal sell its jet-leasing business with rival AerCap in a deal valued at $30 billion, a move that would create a massive lessor as the aviation industry struggles through the Covid-19 pandemic and GE moves to reduce its debt load. The deal would give GE a 46%

Boeing sold 82 aircraft in February and logged 51 cancellations, marking the first time since November 2019 that monthly sales outpaced scrapped orders. The Covid-19 pandemic continues to weigh on sales of new planes as airlines largely try to conserve cash wherever they can. Some carriers, however, are starting to prepare for a recovery in

Elizabeth Olsen and Paul Bettany star as Wanda Maximoff and Vision in Marvel’s “WandaVision.” Disney Disney+ has topped 100 million global subscribers. On Tuesday Disney CEO Bob Chapek revealed the streaming service surpassed the benchmark in just 16 months since its launch. “The enormous success of Disney+, which has now surpassed 100 million subscribers, has

Frontier Airlines planes stand at gates on the A Concourse at Denver International Airport in Denver. David Zalubowski | AP Frontier Airlines filed for an IPO on Monday, a second attempt to go public that comes as the industry positions itself for a rebound from the Covid-19 pandemic. The airline is owned by private equity

The world needs to ramp up efforts to combat Covid-19 — and countries must not let their guard down, the World Health Organization’s chief scientist warned Monday as coronavirus cases around the world surge. “We’re at a very risky period,” said Dr. Soumya Swaminathan of the World Health Organization. “We need to double down, this is

Things are looking up for the domestic box office. In recent months, ticket sales have been accelerating, a sign that moviegoers are ready to return to theaters. Encouraged by the trend, some studios have moved up release dates. Over the weekend, ticket sales reached an estimated $25 million, which would be the best showing since

Restaurants and bars gained 286,000 workers in February following several months of losing jobs, the latest sign that the industry’s recovery is on the horizon after a long, cold winter. Freezing temperatures, coupled with a resurgence of new Covid-19 cases, hurt eateries at the end of 2020 and into the new year. “So far in

National Basketball Association commissioner Adam Silver is supportive of the new high school league that pays young players at least $100,000. Silver spoke to media this weekend to provide his annual update on the NBA, a day before it hosts the 2021 All-Star game in Atlanta. The NBA boss discussed media company Overtime’s new basketball

If a stock pundit had said at the beginning of 2021 it was time to get out of Tesla and into Exxon Mobil, many investors might have sought another source of market advice. But to an unemotional stock trader, that may have seemed like the right move after growth stocks’ massive run into the new

A customer lights a joint at Lowell Farms, America’s first official Cannabis Cafe offering farm-to-table dining and smoking of cannabis in West Hollywood, California, October 1, 2019. Mike Blake | Reuters Virginia is close to becoming the first Southern state to get a tax revenue high as it moves to legalize recreational weed. A bill

Volkswagen’s ID Buzz vehicle. Aeva Volkswagen is accelerating its plans for all-electric vehicles in a bid to become “the world’s most desirable brand for sustainable mobility,” a title arguably already owned by Tesla. The German automaker Friday morning said more than 70% of its Volkswagen brand’s European sales will be EVs by 2030, up from

Detroit Mayor Mike Duggan rejected an initial allotment of the single-shot Johnson & Johnson Covid-19 vaccine this week, according to the Michigan state health department. At a press briefing Thursday, Duggan confirmed he declined this week’s allocation of J&J vaccines from the state, citing sufficient supply of Pfizer and Moderna vaccines to cover demand from

Dave Calhoun, Chairman of Boeing Adam Jeffery | CNBC Boeing CEO Dave Calhoun was awarded $21 million in total compensation for his work last year, but he gave up $3.6 million in salary and bonuses after the coronavirus pandemic hit and devastated the industry. He took just $269,231 of his $1.4 million salary for the

Patrons Sari and Peter Melendez enjoy lunch at Katz’s Delicatessen, the famous deli founded in 1888, on the first day of the return to indoor dining for New York City, during the coronavirus disease (COVID-19) pandemic, in New York, February 12, 2021. Brendan McDermid | Reuters Easing mask mandates and reopening restaurants have led to

An employee at Anthropologie at Fashion Island greets customers at the store in Newport Beach, CA on Tuesday, May 26, 2020. Paul Bersebach | MediaNews Group | Orange County Register via Getty Images Some of us are saying “so long” to sweat pants. In the final week of February, seven of the top 10 selling

Alabama Gov. Kay Ivey announces the extension of a state order requiring face masks in public during a news conference in Montgomery, Ala, July 29, 2020. Kim Chandler | AP Alabama plans to lift a statewide order requiring to wear masks in public on April 9, even as Gov. Kay Ivey extends the state’s health

A man enters a building with rental apartments available on August 19, 2020 in New York City. Eduardo MunozAlvarez | VIEW press | Corbis News | Getty Images Sales contracts in Manhattan soared by 73% in February, and brokers say the days of big price cuts and deals in the city may be ending. There

Louis Conforti, CEO of the Washington Prime Group, on CNBC’s Mad Money. Source: CNBC The U.S. shopping mall owner Washington Prime Group is preparing to potentially file for Chapter 11 bankruptcy protection, with time running thin before the company defaults after it skipped an interest payment on its debt, Bloomberg reported Thursday. Last month, Washington

A FedEx Corp. Boeing 767-300F cargo plane sits parked at the San Diego International Airport (SAN) in San Diego, California, U.S., on Monday, April 27, 2020. Bing Guan | Bloomberg | Getty Images FedEx is investing at least $2 billion toward sustainable energy initiatives, including electric vehicles and carbon capture research, as part of a

General Motors employees work on the assembly line at the Fairfax Assembly & Stamping Plant in Kansas City, Kansas. Jim Barcus for General Motors DETROIT — General Motors is extending temporary shutdowns at three of its North American plants due to a global semiconductor chip shortage, which is expected to shed billions off automakers’ earnings

LONDON — British luxury carmaker Aston Martin on Wednesday launched a new Formula One car ahead of its return to the most famous motor racing event in the world. The Aston Martin Cognizant F1 team revealed the “AMR21” car at a virtual event that was broadcast from London. The AMR21 will compete in the 2021

A Nordstrom store in Irvine, California. Scott Mlyn | CNBC Nordstrom on Tuesday reported fourth-quarter sales and earnings that topped analysts’ estimates, thanks to stronger shopper demand online and growth at its off-price Nordstrom Rack business. But the company cautioned that it has been recently impacted by shipping delays, which held up some of its

Greg Abbott, governor of Texas, speaks during an Operation Warp Speed vaccine summit at the White House in Washington, D.C., on Tuesday, Dec. 8, 2020. Al Drago | Bloomberg | Getty Images The governors of Texas and Mississippi both announced Tuesday that they are lifting statewide mask mandates and allowing businesses to reopen at full

Amir Dan Rubin David Paul Morris | Bloomberg | Getty Images A congressional committee overseeing the Covid-19 crisis has opened an investigation into concierge health-care provider One Medical over reports that it gave vaccine shots to family and friends of executives and to wealthy clients who weren’t yet eligible in their states. Rep. James Clyburn,