Video game maker Electronic Arts – known for The Sims, Maddel NFL, Plants vs. Zombies and more – could be going private soon with a valuation of roughly $50 million. The possible deal, first reported by The Wall Street Journal, would mark the largest ever leveraged buyout in history. A group of investors including private equity firm Silver Lake, Saudi Arabia's Public Investment Fund and Jared Kushner's Affinity Partners could unveil a deal for the publisher as soon as this week, sources told Reuters on Fri ...

More than one million kitchen appliances have been recalled due to posing a burn hazard. Seven different model numbers of Oster French Door Countertop Ovens sold at major retailers in the U.S. and Canada are impacted, according to the recall notice on Oster's website. "Out of more than 1.2 million units in use, fewer than 100 injury reports have been received, and these injuries involved burns consistent with everyday kitchen use and comparable to what can happen with common cooking appliances," the notice ...

State Street Investment Management and the Women’s National Basketball Association (WNBA) recently announced they entered a multi-year partnership, naming the Boston-based firm as the league’s official investment management partner. Under the partnership, State Street Investment Management took on the role of title sponsor of the WNBA Preseason and the WNBA Coach of the Year Award, and is also the presenting partner of "Year 1," a rookie-focused content series. The investment banking company will also join ...

American Airlines launched more high-end products and services, from amenity kits to serving Champagne Bollinger, as the industry continues to court premium travelers.  As demand for economy seating continues to lag, airlines are pouring resources into upgrades for business and first-class to maximize returns from travelers willing to pay more. Over the past year, many of the major U.S. carriers, including American, announced plans to upgrade their suites with a variety of new amenities from extra room to 2 ...

President Donald Trump is taking further aim at America’s reliance on foreign partners, which his senior counselor on trade claims is designed to shift supply chains domestically and end China’s grip on the U.S. "I had a situation where a Chinese company gets approval for an antibiotic at the FDA, gives a bunch of money to an Indian company, and then the Indian company fronts to get a contract at the VA that pushes out an American maker. So those are the kinds of things we're having to deal with, and that's ...

Maple Street Biscuit Company, a Cracker Barrel-owned restaurant chain, shuttered more than a dozen locations that fell short of its financial expectations.  Cracker Barrel warned in its earnings call last week that 14 locations would be impacted by the closures during fiscal 2026. However, Cracker Barrel told FOX Business that it had already closed the locations."We appreciate the continued patronage of the many guests who have dined with Maple Street at these 14 locations over recent years and thank our te ...

The Federal Reserve's preferred inflation gauge showed that inflationary pressures remained elevated in August, as policymakers seek to balance the need to restore price stability against a weakening labor market following last week's interest rate cut. The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index rose 0.3% in August from a month ago and is up 2.7% from last year. Those figures were in line with the estimate of LSEG economists.Core PCE, which excludes vol ...

California Gov. Gavin Newsom blamed General Motors and CEO Mary Barra for the rollback of electric vehicle subsidies and other anti-EV measures advanced by the Trump administration and Republicans in Congress. Newsom was asked last week about the state of California's capacity to replace the federal EV subsidies that were ended by the Trump administration and said, "You're talking about the Biden-era tax credit that the Trump administration eliminated. We can't make up for federal vandalism of those tax cre ...

President Donald Trump on Thursday signed an executive order that allows TikTok's U.S. operations to be moved away from the social media app's China-based owner ByteDance. The deal will see TikTok's U.S. operations separated from ByteDance to comply with a law that bans social media platforms subject to control by adversarial foreign governments like China.A group led by software giant Oracle that includes private equity firm Silver Lake and UAE state-owned investment firm MGX will be the main investors in ...

Amazon has agreed to pay $2.5 billion to settle a lawsuit alleging it misled customers into paying for Prime subscriptions, the Federal Trade Commission (FTC) announced Thursday. The announcement came days into a trial between the tech giant and the FTC. Under the terms of the settlement, Amazon will be required to pay a $1 billion civil penalty, provide $1.5 billion in refunds to consumers, and cease any unlawful enrollment and cancellation practices for Prime.The settlement figure is less than 1% of Amazo ...