Starbucks said Thursday it would shutter underperforming stores in North America and cut 900 jobs in a $1 billion restructuring effort, as CEO Brian Niccol presses ahead with his plan to revive the company’s fortunes.In his first year on the job, Niccol has zeroed in on investing in Starbucks’ stores to reduce service times and restore a coffee-house environment, while also trimming management layers.The company has posted six straight quarters of sales decline in the US as demand for its pricey lattes took ...

Disney shareholders have threatened to sue the company if it did not turn over all documents related to the entertainment giant’s decision to suspend late-night host Jimmy Kimmel over his comments about the Charlie Kirk assassination, according to a report.Lawyers representing the American Federation of Teachers, Reporters Without Borders, Inc. and other shareholder groups pressed Disney to release board records surrounding Kimmel’s suspension, the news site Semafor reported on Thursday. The Post confirmed ...

The US economy grew faster than previously estimated in the second quarter amid strong consumer spending and business investment, though momentum appears to have ebbed against the backdrop of lingering uncertainty from trade policy.The quickest growth pace in nearly two years reported by the Commerce Department on Thursday also reflected a sharp contraction in the trade deficit as the flood of imports slowed.The economy’s resilience was underscored by other data showing strong demand by business for equipme ...

Nexstar Media’s throttling of Jimmy Kimmel’s late-night show is a massive headache for Disney CEO Bob Iger – but it won’t necessarily be enough to convince regulators to greenlight the local TV giant’s controversial, megabuck merger, On The Money has learned.The Irving, Texas-based broadcaster – which said Wednesday it will continue to suspend broadcasts of “Jimmy Kimmel Live!” following the comedian’s return late Tuesday to ABC – faces major hurdles in getting White House approval for its $6.2 billion deal ...

More than 115,000 Ford trucks are being recalled because drivers could lose control of steering, according to U.S. auto safety regulators.A defect impacting certain F-250, F-350 and F-450 vehicles, from model years 2020 through 2021, can cause the steering column’s upper shaft to detach, according to the National Highway Traffic Safety Administration.In total, 115,539 vehicles are impacted by this recall.This means the driver could lose steering control of the vehicle, the auto safety regulator said.The rec ...

Jimmy Kimmel’s late-night talk show will continue to be blacked out in dozens of cities nationwide after one of the largest owners of ABC affiliates appeared unconvinced by his teary-eyed monologue from Tuesday.Nexstar Media Group will continue to preempt “Jimmy Kimmel Live!” on its ABC stations, extending a blackout that began after the late-night host’s controversial remarks about conservative activist Charlie Kirk’s killing.“Nexstar is continuing to evaluate the status of ‘Jimmy Kimmel Live!’ on our ABC- ...

Sales of new US single-family homes surged in August, but the boost from declining mortgage rates could be limited by a weakening labor market.New home sales shot up 20.5% to a seasonally adjusted annualized rate of 800,000 units last month, the Commerce Department’s Census Bureau said on Wednesday. The sales pace for July was revised higher to a rate of 664,000 units from the previously reported pace of 652,000 units.New home sales shot up 20.5% to a seasonally adjusted annualized rate of 800,000 units las ...

Paramount Skydance has yet to formally approach Warner Bros. Discovery with a hotly anticipated buyout offer – worried that it could be used by the latter’s wily CEO David Zaslav to shop the company to any number of potential suitors, On The Money has learned.It’s been nearly two weeks since news first broke that Paramount Skydance CEO David Ellison, backed by the deep pockets of his father, Oracle co-founder Larry Ellison, intended to make an all-cash offer for Warner Bros. Discovery.The buyout bid – which ...

Volvo Cars on Tuesday announced plans to produce a new hybrid model in the US as its supply chain continues to feel the pressure from President Trump’s tariffs.The Swedish automaker is aiming to add a next-generation hybrid model to the production line at its Ridgeville, South Carolina plant near Charleston before 2030, the company said in a press release.“The Charleston plant is foundational to our strategic growth plan for the US,” Luis Rezende, president of Volvo Cars Americas, said in a statement Tuesda ...

Gold futures on Tuesday surged to a fresh high of over $3,800 as investors continue to bet big on the safe haven asset.The real gold price, which adjusts for inflation, hit a record high earlier this month for the first time since 1980.In a note on Monday, Deutsche Bank analysts forecast that gold prices could rise above $4,000 by the end of the year – notching a massive full-year return of more than 50%.The real gold price, which adjusts for inflation, hit a record high earlier this month for the first tim ...