Business

Former White House Press Secretary Anthony Scaramucci claimed on social media that the coordinated effort to inflate the price of GameStop stocks is the start of the “French Revolution” in the business world. As was previously covered by The Inquisitr, Wall Street was stunned on Wednesday after a large number of members from Reddit group […]

During an appearance on CNBC Thursday, New York Hedge fund billionaire Leon Cooperman touched on his feelings about GameStop’s recent meteoric stock market rise. As reported by BuzzFeed News, the surge was driven by Reddit users and led to the defeat of two hedge funds — Citron Research and Melvin Capital. “This ‘fair share’ is […]

The stock-trading platform Robinhood and other Wall Street brokers are coming under fire after blocking users from buying GameStop and other stocks that have become a target for the Reddit community r/WallStreetBets — even uniting two figures from far ends of the political spectrum and a rapper in opposition to the move. Users on the […]

Video game retailer GameStop continued its meteoric and unexpected stock surge on Wednesday morning, with the price of shares surging another 130 percent in pre-market trading, as reported by Reuters. The jump is part of a two-week trend fueled by amateur investors and has seen the company’s stock rise by 700 percent. GameStop, and BlackBerry […]

JPMorgan Chase CEO Jamie Dimon has expressed his fears about the future of both traditional banks and the country at large following the growth of Big Tech into the financial industry. The companies referenced by Dimon include well-known behemoths such as Amazon, Apple, and Google in addition to more business-focused apps such as Square, Stripe, […]

Update: Kevin Kelley released a statement about the incident on Facebook Monday afternoon. Restaurant owner Kevin Kelley is garnering attention for his Dallas restaurant, TRUE Kitchen + Kocktails, but for all the wrong reasons. Just before 11 p.m. Eastern on Sunday, November 29, a video of the restaurateur offering “real talk” to some of his […]

Billionaire investor Leon Cooperman, who serves as the chairman and CEO of Omega Advisors, has warned that he is pessimistic about the long-term future of the stock market due to “too much debt” in the United States’ business and financial systems. According to CNBC, Cooperman specifically pointed to the combination of the U.S.’s increasing national […]

Tesla has launched its own brand of tequila after CEO Elon Musk first proposed the idea two years ago on his Twitter account. According to CNN Business, the company’s liquor brand launched on Thursday, November 5 and the product sold out quickly online following high demand. The drink was only available in certain U.S. states […]

U.S. stocks have rallied recently despite the ongoing uncertainty over whether Donald Trump or Joe Biden will win the 2020 presidential election. According to CNN Business, Wall Street was facing a difficult period earlier in the week as the unpredictability of counting votes in key battlegrounds could have taken days or weeks, which subsequently affected […]

Amazon CEO Jeff Bezos has sold nearly 2 percent of his share in the company after it increased 75 percent in value in 2020. According to Forbes, after taxes, Bezos is estimated to make $2.3 billion after selling the stock on Monday, November 2 and Tuesday, November 3. Market Watch reported that recent filings with […]

Stock markets across Europe and Asia soared on Election Day in the U.S. as investors anticipated a win for Democratic candidate Joe Biden. Share prices in London saw their biggest daily rise in two months as market participants hoped that a Biden win would bring in a larger stimulus package to help the economy recover […]

Mad Money host Jim Cramer has claimed that he already feels as if the upcoming 2020 U.S. presidential election will mark “one of the most confusing weeks” of his career. The confusion extends beyond politics. As was covered by CNBC, Cramer explained that markets do not like uncertainty, and a fiercely partisan election would likely […]

Fox Business correspondent Charles Gasparino reported on Tuesday that the founder and CEO of Amazon, Jeff Bezos, is looking to buy CNN, per Mediaite. According to Gasparino, it is being speculated on Wall Street that the billionaire business magnate, who also owns The Washington Post, has expressed interest in buying the network. Gasparino said that […]

Amazon, the world’s largest online retailer, will not facilitate the sale of merchandise branded with the phrases “Stand Back” and/or “Stand By,” words used by President Donald Trump during Tuesday’s debate that some consider a dog whistle to white supremacist terrorist groups. As CBS News reported, other retailers are following suit. On Tuesday night, during […]

Elon Musk leapfrogged Facebook founder Mark Zuckerberg on Monday to become the world’s third-richest person, with an estimated fortune of $115 billion, according to Bloomberg. While Zuckerberg previously sat higher in the rankings of world billionaires, with an estimated net worth of $111 billion, Musk’s fortune grew a staggering $87.8 billion this year due to […]

UPS and FedEx both warned Americans this week that the two delivery services absolutely cannot deliver mail-in votes, in case any were worried whether the United States Postal Service would be able to get their ballots in on time. As Reuters reported, the USPS has warned that it may not be equipped to handle the […]

A major ice crime manufacturer is calling on trucks that deliver the product to ditch the song “Turkey in the Straw” and instead use a new jingle that a rapper came up with, because the original has racist connotations, CNN reported. It’s a bit of classic nostalgia for millions of Americans: the distant sound of […]

Target has joined Walmart in announcing that all of its U.S. stores will be closed on Thanksgiving Day, CNBC News reported. The retailer is instead asking its customers to get a head start on the holiday shopping season by hitting the shelves in October. In a statement posted on its corporate blog, Target.com, the big-box […]

Halloween Horror Nights, the hugely popular fall event at Universal Studios Hollywood and Universal Orlando Resort, has been canceled, The Orlando Sentinel reported. The after-hours event is the latest victim of the coronavirus pandemic, which has hit the theme park and tourism industries particularly hard. Halloween Horror Nights is a series of spooky events that […]

The manufacturer of an Australian brand of cheese called “Coon Cheese” will soon retire the product’s controversial name, The Age reported. The cheese brand has existed in the Land Down Under for nearly 100 years. For more than two decades, indigenous rights activist Stephen Hagan has been fighting for the product name to be changed […]

Billionaire Wall Street analyst Chamath Palihapitiya has claimed that Tesla might soon be worth over a trillion dollars, making it one of just six companies ever to read the incredible benchmark, according to CNBC. The claim comes as shares in the company, founded by Elon Musk, have reached new heights, trouncing previous expectations from the […]

Walmart will close all of its U.S. stores nationwide on Thanksgiving Day to give its employees a day to spend with their families, USA Today reported. In a statement to employees, President and CEO John Furner didn’t mention specifics, but did note that 2020 has been a difficult year. “We know it’s been a trying […]

A group of Whole Foods employees has sued the grocery chain over its discipline of workers who wore Black Lives Matter *(BLM) masks, WHDH-TV reported. Beginning in June, according to the lawsuit filed Monday in U.S. District Court in Massachusetts, the international grocery store chain began “disciplining, harassing, [and] intimidating” those who wore face coverings […]

California- based and well-known retailer Trader Joe’s responded to calls for changes to its packaging that some have claimed is racist by saying the company is already in the process of doing just that. Dianne de Guzman of SFGate reported the grocery store chain issued a statement after a petition began circulating, with the company […]

TikTok’s parent company may be hit very hard by a recent ban by the Indian government, a new report suggested. After India announced that the popular app was among the nearly 60 Chinese-based apps that were being banned in the country, a new report indicated that it could cost TikTok’s parent company as much as […]

As cases of the novel coronavirus reach record highs in California, Disney is moving forward with reopening Downtown Disney, People reported on Wednesday. The dining and retail sector of California’s Disneyland theme park will open restaurants with outdoor seating only in order to comply with Gov. Newsom’s new order to shut down indoor dining because […]

As cases of novel coronavirus spike in several places throughout the U.S., Disney announced on Wednesday that they would be delaying the phased reopening of Disneyland and Disney Adventure California, CNN reported. Disney said in a statement released Wednesday that California had not yet given guidelines for reopening theme parks, and they were not expecting […]

The manufacturer of Cream of Wheat is considering changing its packaging — which includes an image of a smiling African American man in a chef’s hat — in light of decisions by other manufacturers with similar imagery on their brands. As The Cleveland Plain Dealer reported, B&G Foods, which purchased the brand from Nabisco in […]

The manufacturer of the Uncle Ben’s line of rice and similar grain-based foodstuffs is “re-evaluating” the name and mascot of its products, Reuters reported. The move follows news that the manufacturer of Aunt Jemima has decided to retire the name and image associated with its own products. Mars, Inc., which manufacturers the candy bar that […]

The manufacturer of Aunt Jemima pancake mix and pancake syrup will change the name of its product as well as the brand mascot image, NBC News reported. In an announcement on Wednesday, Quaker Oats, which is a subsidiary of PepsiCo, said that the brand’s name and mascot are “based on a racist stereotype.” “As we […]

The Starbucks Corporation has not only reversed their earlier policy which banned employees from wearing Black Lives Matter clothing, they’re now working with designers to create custom shirts for their workers. According to a report in The Los Angeles Times, the shirts, which are designed by the Black Partner Network, will be considered acceptable workplace […]

On Friday, Starbucks stated that they would allow employees to wear gear that advocates for the Black Lives Matter (BLM) movement, CNBC reported. This is a reversal from their previous stance, which prohibited employees from wearing clothing, pins, or other accessories that supported BLM. The reversal comes after the company faced backlash on social media […]

Pharmacy chain CVS has joined Walmart in discontinuing the practice of keeping beauty products for certain ethnic groups behind locked cabinet doors, Reuters reported. In the wake of the George Floyd protests, attention has been given to racist practices not just in policing, but in other areas of daily life, such as in certain businesses. […]

A Minneapolis manufacturing facility that was damaged during the riots that plagued the city following the death of George Floyd has vowed to leave the city, as the owner cited his belief that city officials did nothing to protect his employees, The Star Tribune reported. The move is expected to cost the city about 50 […]

Corporations can expect higher tax rates and lower profits if Democratic presidential nominee Joe Biden wins the general election in November, according to a report in Yahoo Finance. “For many clients, the most important equity market implication is the potential for higher corporate tax rates,” Goldman Sachs strategist David Kostin said in a note on […]

A Midwestern Mexican food chain temporarily shut down its Columbus, Ohio-area locations after employees at one store refused to fill an order for police officers, WSYX-TV reported. Condado Tacos is a table-service Mexican restaurant with locations across parts of the Midwest. On Monday night, its location in the Polaris section of Columbus received an order […]

On Tuesday morning, New York Governor Andrew Cuomo rang the bell to reopen the New York Stock Exchange (NYSE), which has been closed for two months as a result of the coronavirus pandemic, the Associated Press reported. People on the trading floor allegedly cheered as the governor kicked off the first day of in-person trading […]

Facebook announced on Friday their purchase of Giphy for approximately $400 million, Bloomberg reported. The social media company already offered users access to Giphy’s library, an extensive collection of GIFs and other images used for messaging, but this purchase means they’ll have complete ownership of the brand. This acquisition reportedly came in the wake of […]

Amazon founder Jeff Bezos is already the richest man on earth. Now, a new analysis has shown he will soon become the first trillionaire in global history. Research from the payroll service company Comparisun showed that Bezos is on pace to cross that mark within the decade. The report noted that there are already three […]

Dave Calhoun, the CEO of airplane manufacturer Boeing, told NBC News on Tuesday that he believes at least one major American airline may go out of business by the end of the summer. “I don’t want to get too predictive on that subject, but yes, most likely,” Calhoun said. “You know, something will happen when […]

Elon Musk reopened his Tesla factory on Monday, defying the local health department’s orders to remain closed, ABC News reported. Located south of San Francisco, the plant had been deemed “non-essential” and shut down on March 23. “Tesla is restarting production today against Alameda County rules. I will be on the line with everyone else. […]

Elon Musk said he is considering pulling Tesla out of the state of California over the state’s ongoing restrictions to prevent spread of the coronavirus, which has forced the company’s facilities to close through June. The Tesla CEO spoke out on Saturday, taking to Twitter to announce plans for a lawsuit against the Alameda County […]

The once popular vaping company Juul has been struggling from low sales and tight legal regulations within the past year. As a result, it is expected that these products will be off the shelves entirely in five European companies by the end of the year. These countries include Austria, Belgium, Portugal, France, and Spain, according […]

Uber, the popular ride-share service, will donate 50,000 free rides and food to domestic abuse victims across the globe. According to USA Today, the company plans to assist women who are experiencing domestic violence while mandatory stay-at-home orders are in place. “The ride-hailing giant announced plans on Thursday to donate 50,000 free rides to domestic […]

The former employee of an Indiana Olive Garden restaurant — one who was singled out because of her race by a customer who asked for a different server — plans to sue her former employer, USA Today reports. As previously reported by The Inquisitr, on February 29, 16-year-old Amira Donahue, who is black, was working […]

An Olive Garden in Evansville, Indiana, fired one of their managers after discovering that they honored an allegedly racist request from a customer, reports Today. According to the article, a white couple allegedly requested a nonblack server, and the manager agreed to their demand. It is not clear what became of the original server who […]

Oregon woman Ashreana Scott is suing Chuck E. Cheese for damages after her hair got caught in a ticketing machine for 20 minutes, reports People Magazine. Scott claims that in December 2019, she was feeding paper tickets into the machine at the Southeast Portland Chuck E. Cheese when it started eating her hair. She asserted […]

Joseph Coulombe, the man who founded the popular and inexpensive grocery chain Trader Joe’s, died on Friday at the age of 89 in Pasadena, California. In a statement to The Associated Press, Joseph’s son, also named Joseph, said that his father had died after a long illness. “Joe was an extraordinarily smart and accomplished entrepreneur […]

Longtime Disney chief executive officer Bob Iger announced his abrupt decision to step down Tuesday, in a move that caught the company’s employees and rival media bigwigs off guard. Effective immediately, Iger, who served in his previous role for 15 years, will become executive chairman through 2021. Bob Chapek, who most recently served as chairman […]

A county judge in San Diego has ruled that Instacart shoppers should be classified not as independent contractors but employees under California’s new “gig economy” law. The judge issued a preliminary injunction calling for Instacart to “work with us to craft a meaningful and fair solution” to reclassify its workforce. State law mandates that employees […]