Advance Auto Parts said Thursday it will close about 500 stores by mid-2025 and cut some jobs under a restructuring effort, as demand for vehicle parts takes a hit from fewer consumers opting to repair their cars. Shares of the auto parts retailer were up about 2% despite also reporting a surprise third-quarter adjusted loss of 4 cents per share. Analysts on average were expecting a profit of 49…
The FBI’s shocking predawn raid against the founder of election gambling site Polymarket was part of a criminal probe into whether the startup accepted bets from US users — which would violate a deal the company had made with the government, The Post has learned. The Department of Justice ordered Wednesday’s “court-authorized law enforcement activity”…
Wholesale prices in the US rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday’s report from the Labor Department showed that its producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain…
Gary Vaynerchuk, better known as GaryVee, made his fortune and his reputation with his prescience. He invested in Facebook and Twitter in their infancy, predicted the rise of e-commerce and built an audience on YouTube in the early 2000s when it was still a new, fast-growing platform. With his many endeavors, including VaynerMedia, the 49-year-old…
Walt Disney reported earnings that topped Wall Street’s estimates on Thursday, propelled by blockbuster ticket sales from the rude and irreverent summer Marvel film “Deadpool & Wolverine,” and provided an upbeat forecast for the coming year. The company projected adjusted earnings-per-share percentage growth in the high single digits in fiscal 2025, even with capital expenditures of roughly…
The number of Americans applying for unemployment benefits fell to their lowest level in six months last week as layoffs remain at relatively healthy levels. The Labor Department reported Thursday that jobless claim applications fell by 4,000 to 217,000 for the week of Nov. 9. That’s less than the 225,000 analysts forecast. The four-week average…
DETROIT — Ford Motor Co. will pay a penalty of up to $165 million to the U.S. government for moving too slowly on a recall and failing to give accurate recall information. The National Highway Traffic Safety Administration says in a statement Thursday that the civil penalty is the second-largest in its 54-year history. Only…
NEW YORK — Fashion company Tapestry on Thursday said it’s terminating its proposed merger with Capri because the two luxury groups don’t expect to overcome an antitrust challenge within an acceptable time frame. The companies agreed to a $8.5 billion deal in August 2023 that would have united Capri, the maker of Versace, Jimmy Choo…
NEW YORK — Veteran NBC host and news anchor Craig Melvin has been tapped to replace Hoda Kotb as co-host of the 7 a.m. to 9 a.m. hours of “Today.” Melvin is a familiar face to “Today” show viewers. He currently hosts the show’s third hour and is the news anchor during the first two…
LONDON — European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what they call “abusive practices” involving its Marketplace online classified ads business. The European Commission, the 27-nation bloc’s executive branch and top antitrust enforcer, issued the 797.72 million euro ($841 million) penalty after its long-running…
End of content
End of content