Peloton announced Thursday that CEO Barry McCarthy will be stepping down and the company will lay off 15% of its staff because it “simply had no other way to bring its spending in line with its revenue.”
Category Archives: business
Federal Reserve holds interest rates steady: What it means for you
The Federal Reserve has decided to hold interest rates at a two-decade high, noting inflation is cooling more slowly than expected. NBC’s Christine Romans breaks down what it means for consumers on TODAY.
Nearly half of people arrested at NYC campus protests were not students, officials say
Police mass at UCLA as protesters defy order to leave
Arizona Senate passes repeal of 1864 abortion ban
The Arizona Senate voted to pass a repeal of the near-total ban on abortion from 1864 that was upheld by the battleground state’s Supreme Court last month.
Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald’s
It’s finally here: the long-predicted consumer pullback.
Trump grumbled he needed more support at trial. Now his allies are showing up.
In the first two weeks of his hush money criminal trial, Trump grew frustrated, convinced his supporters could be doing more to help him.
Google lays off hundreds of ‘Core’ employees, moves some positions to India and Mexico
Just ahead of its blowout first-quarter earnings report on April 25, Google laid off at least 200 employees from its “Core” teams, in a reorganization that will include moving some roles to India and Mexico, CNBC has learned.
Fed chair Jerome Powell: No sign of stagflation in US economy
Federal Reserve Chair Jerome Powell said Wednesday there was no sign of stagflation in the economy, even as inflation remains stubbornly high and some signs of slowing growth have started to emerge.
DOJ charges ‘Bitcoin Jesus’ with $48 million tax fraud, seeks extradition
The Justice Department unveiled criminal tax fraud charges this week against a prolific bitcoin investor named Roger Ver.
Cottage cheese and sour cream are safe amid bird flu outbreak, FDA says
Is dairy safe to eat? New FDA tests find that pasteurization is effective against the bird flu virus for milk, cottage cheese and sour cream. The virus has spread to 36 dairy herds in nine states.