Walmart bets on warehouse robots, dangles profit potential
Within three years, the unit cost of moving goods will fall 20% as warehouse robots play a larger role in speeding goods to customers, Walmart said in a statement Tuesday.
Bloomberg News
Articles
Bed Bath & Beyond begins 3-week countdown to possible bankruptcy
Cut off from direct access to its own cash and turning to third-party financing to convince some suppliers to ship merchandise, Bed Bath & Beyond is running low on options to dig itself out of a financial hole years in the making.
Dollar General targeted by U.S. for systemic work hazards
Over the past two years, the Labor Department’s Occupational Safety and Health Administration has issued fines of $12.5 million against Dollar General, the most of any retailer during that period.
Pandemic pet adoptions propel rise of $500 billion global market
A wave of adoptions during the COVID-19 pandemic has created greater demand for basics like food and toys, as well as sophisticated medical care that can prolong a pet’s life.
Shortage of cooking oil looms as biofuels gain global appeal
From the U.S. to Brazil and Indonesia, governments are embracing energy made from plants like soybeans or canola, or even animal fat, to move away from fossil fuels and cut emissions.
Men’s college basketball players making twice as much as women
The pay difference comes mainly from money flowing from so-called NIL collectives. Excluding the money from collectives, male and female basketball players made roughly the same amount of money from NIL deals.
Multifamily projects lead to bigger-than-expected surge in residential construction
The pickup points to signs of budding optimism that the worst of the housing rout may be near.
Fed’s battle plan for inflation shredded by financial turmoil
The worry is the collapse of SVB and Signature Bank are just the start of a longer list of casualties from the Fed’s shift to the highest rates since policymakers began slashing borrowing costs in 2007.
Mark Zuckerberg was warned about social media addiction, filing shows
Employees at Facebook parent Meta Platforms and TikTok developer ByteDance were aware of the harmful effects of their platforms on young children and teenagers but disregarded the information or in some cases sought to undermine it, court filings show.
Does daylight saving time result in lower energy bills?
The notion of keeping the lights off for longer has always been linked with daylight saving time. But more recently, research has emerged to challenge the DST premise.
Companies eye cutting benefits for working parents amid recession fears
Adoption and fertility-assistance programs were the perks companies said they were most likely to eliminate, while parental leave and child-care benefits were also on the chopping block.
‘Excuseflation’ helping prices—and corporate profits—remain high
A growing body of analysts and researchers see a pattern of companies using unusual disruptions as an excuse to raise prices for their goods and services, thereby allowing them to expand profit margins.
Three years after COVID arrived, restaurants still desperate for workers
Americans have been rushing back to restaurants after staying away during the pandemic. To catch that demand, chains are opening thousands of new locations. It has the makings of a boom, except for one glaring problem: there aren’t enough workers.
Millions more U.S. workers possibly self-employed than thought
The survey adds to evidence that informal work has been increasingly prevalent in the U.S. economy, a trend further exacerbated by the pandemic, social media and remote work.
Microsoft’s latest AI assistant aimed at marketers, customer reps, work apps
Microsoft, having brought artificial intelligence to its battle with Google over search, is now turning to the latest AI technology to catch up with rivals in the corporate applications market such as Oracle, Salesforce and SAP.
Fed says more rate hikes needed to curb inflation
U.S. central bankers are waging their most aggressive action against high inflation in a generation.
iPhone maker plans $700M India plant in shift from China
The investment is one of Foxconn’s biggest single outlays to date in India and underscores how China’s at risk of losing its status as the world’s largest producer of consumer electronics.
Carvana debt comes due with business ‘firmly in retreat’
The quarterly loss reported after the close Thursday caps a disastrous year in which Carvana’s stock plummeted 98%, erasing almost $37 billion of market capitalization. Carvana spent $2.2 billion last year to acquire Carmel-based KAR Auction Services Inc.’s physical auto auction business, ADESA.
World’s top PC maker warns of job cuts as slump persists
Lenovo Group Ltd.’s profit fell for the first time in almost three years on waning demand for personal computers following a pandemic-era work-from-home boom.
U.S. economy keeps charging ahead, adding pressure on Fed to hike
The U.S. economy showed remarkable resilience at the start of the year, highlighting robust demand that’s keeping inflation elevated and heaping pressure on the Federal Reserve to stomp the brakes even harder.