Target shares headed for worst day since crash of 1987

Target shares headed for worst day since crash of 1987

Target took a big hit from higher costs during the first quarter despite brisk sales and shares appeared headed for their most severe selloff since the Black Monday market crash of 1987. Profits for major retailers has come under pressure from both surging inflation and stubborn clogs in the global supply chain. Target’s net income fell roughly … Read more

Apple engineer who quit over return-to-office policy joins Google

Apple engineer who quit over return-to-office policy joins Google

An ex-Apple executive who quit over the company’s strict return-to-office policy is joining Google just weeks later, according to a report.  Ian Goodfellow — who worked as Apple’s director of machine learning until he resigned in early May — is joining Google’s DeepMind division as a contributor, Bloomberg reported.  DeepMind uses artificial intelligence and machine … Read more

California’s $6 gas prices may spread nationwide: analysts

California's $6 gas prices may spread nationwide: analysts

The average price for gasoline could hit $6 nationwide by the end of the summer after it crossed the dreaded the threshold in California, according to analysts at JPMorgan. Limited supply exacerbated by the Russian invasion of Ukraine, coupled with what is expected to be sky-high demand as Americans take to the roads this summer … Read more

Disney+ won’t take ads for alcohol, politics amid Florida flap

Disney+ won't take ads for alcohol, politics amid Florida flap

Disney is keeping its streaming service squeaky clean amid its recent flap over Florida’s so-called “Don’t Say Gay” law. The Mouse House, which is launching an advertising-supported tier, won’t take commercials promoting alcohol or political points of view, Variety reported. Disney+, which is home to “The Mandalorian,” “Encanto” and hours of family-friendly programming, will unveil … Read more

Netflix lays off estimated 150 staffers in latest round of cuts

Netflix lays off estimated 150 staffers in latest round of cuts

Netflix is laying off roughly 150 employees weeks after the streaming giant posted its first loss in subscribers since 2011. The job cuts were outlined in an internal memo obtained by The Hollywood Reporter, which first reported the news. A Netflix spokesperson confirmed the cuts on Tuesday, saying: “As we explained on earnings, our slowing … Read more