Economy

Tesla CEO Elon Musk said Sunday that his involvement in the Trump administration could be hurting the automaker’s stock price. Speaking at a town hall event in Wisconsin, Musk said his role with the so-called Department of Government Efficiency — which is pushing for widespread government job cuts — is creating backlash against his electric car company and hurting the stock. ...

Restaurant chain Hooters of America filed for bankruptcy protection in Texas on Monday, seeking to address its $376 million debt by selling all of its company-owned restaurants to a franchise group backed by the company’s founders. Hooters, like other casual dining restaurants, has struggled in recent years due to inflation, the high costs of labor and food and declining spending by cash-strapped American consumers. ...

Meta’s head of artificial intelligence research announced Tuesday that she will be leaving the company.  Joelle Pineau, the company’s vice president of AI research, announced her departure in a LinkedIn post, saying her last day at the social media company will be May 30.  Her departure comes at a challenging time for Meta. CEO Mark Zuckerberg has made AI a top priority, ...

Amazon on Monday released a new AI model that can take actions in a web browser on a user’s behalf, a move that puts it in more direct competition with OpenAI, Anthropic and other companies that have developed the so-called “agents.” The new model, called Nova Act, is designed to help developers build agents, or AI software that can complete multi-step tasks for ...

Hollywood’s blockbuster slate is heating up, and AMC Entertainment is increasing the number of its premium screens to meet demand. The world’s largest cinema chain is adding 40 Dolby Cinema theaters to its U.S.-based AMC locations through the end of 2027. It marks a 25% increase in the number of the branded premium screens, bringing the company’s total number to more than 200. “Premium moviegoing is ...

President Donald Trump commuted the criminal sentence of Ozy Media founder Carlos Watson on Friday, just hours before Watson was due to begin serving a 116-month prison term for a multi-million-dollar scheme that included falsely claiming the start-up had deals with Google and Oprah Winfrey, a senior White House official said. Watson had expected to surrender Friday afternoon to the Federal Correctional Institution in Lompoc, California, before he received word of ...

Robinhood CEO Vlad Tenev is betting that by rolling out a large enough portfolio of digital investment products, more consumers will be willing to pay a monthly subscription for its product suite. Subscribers to Robinhood Gold pay $5 a month or $50 a year for perks like 4% interest on uninvested cash, access to professional research, and no interest on the ...

President Donald Trump moved Thursday to end collective bargaining with federal labor unions in agencies with national security missions across the federal government, citing authority granted him under a 1978 law. The order, signed without public fanfare and announced late Thursday, appears to touch most of the federal government. Affected agencies include the Departments of State, Defense, Veterans Affairs, Energy, Health ...

Lululemon beat Wall Street expectations for fiscal fourth-quarter earnings and revenue, but issued 2025 guidance that disappointed analysts. On an Thursday earnings call, CEO Calvin McDonald said the athleticwear company conducted a survey earlier this month that found that consumers are spending less due to economic and inflation concerns, resulting in lower U.S. traffic at Lululemon and industry peers. However, he said, ...

The Federal Communications Commission has alerted the Walt Disney Company and its ABC unit that it will begin an investigation into the diversity, equity and inclusion efforts at the media giant. The FCC, the agency that regulates the media and telecommunications industry, said in a letter dated Friday that it wants to “ensure that Disney and ABC have not been violating FCC equal employment opportunity ...