Singer-turned-designer Jessica Simpson refinanced her apparel company just six months after regaining full control of the $1 billion brand. The former reality TV star scored a $67.5 million loan from Second Avenue Capital Partners – which is backed by the Schottenstein family, owner of American Eagles Outfitters and DSW – in a deal that pledges … Read more
The onset of debilitating stagflation within the US economy is likely “unavoidable” even if the Federal Reserve manages to avoid a full-fledged recession, famed economist Mohamed El-Erian warned on Wednesday. El-Erian, the chief economic adviser at Allianz, indicated that stagflation would take hold despite the Fed’s plan to aggressively hike interest rates to bring down … Read more
The Dow fell by more than 1,000 points, putting it on track to break a four-day winning streak, as big retailers reported their profits are getting crushed by inflationary pressures. The S&P 500 fell by 3% on Wednesday and the Nasdaq shed nearly 4% as investors reacted to a weak first quarter earnings report by … Read more
As the House convened a subcommittee hearing this week on UFO sightings, Fox News’ Geraldo Rivera revealed he once had a close encounter of his own kind while inebriated during a trip to the Bahamas. Rivera detailed his out-of-this-world experience during the Tuesday episode of Fox News’ “The Five,” where panelists discussed Congress’ move to … Read more
Goldman Sachs bankers “want to be in the office,” the Wall Street titan’s hard-driving boss claimed on Wednesday, shrugging off recently reported kvetching from the rank-and-file about having to show up to the office. In an interview with CNBC Wednesday, the investment bank’s chief executive David Solomon insisted employees were driving the return to office … Read more
Amazon’s warehouses are subjecting pregnant women and disabled workers to harsh physical work conditions that have improperly exposed them to injury, Gov. Kathy Hochul’s administration claimed on Wednesday. The administrative complaint by the New York State Division of Human Rights alleges that Amazon has forced pregnant women to lift heavy packages instead of giving them … Read more
American families are shelling out what amounts to $5,000 per year to put gas in their cars — a painful increase from $2,800 just a year ago, according to a new report. The new study by Yardeni Research shows the ever-increasing financial burden borne by US households in recent months as the price of fuel … Read more
Gopuff said on Wednesday that Walt Disney’s former chief executive officer, Bob Iger, has invested in the delivery startup and would join the company as an adviser. Gopuff, which offers rapid delivery of an assortment of products including home care, medicine, pet care, office supplies, beauty and wellness items, did not disclose the size of Iger’s investment. “I … Read more
More than a third of single white-collar workers think returning to the office will help their sex lives, according to a new survey. “Sex can happen,” one single and ready to mingle employee of NBCUniversal wrote in response to the survey. “Few jobs require people after 8.” A Bank of America employee, meanwhile, gushed that … Read more
Goldman Sachs and JPMorgan are expected to haul in a combined $133 million in investment banking fees for advising Twitter on the company’s sale to Elon Musk. But the bulk of that cash will only come if the deal closes — a likelihood in question as Musk threatens he won’t follow through with the $44 … Read more