James Gorman talks Disney succession, proxy fight as he gears up to join board
Gorman won praise for managing the CEO succession process at Morgan Stanley.
CNBC Business
Man pleads guilty in stock fraud case involving $100 million New Jersey deli
Hometown International once was valued at $100 million on the stock market despite owning a tiny, money-losing deli in New Jersey.
Big M&A and Bob Iger's future: 13 media executives make their anonymous 2024 predictions
It's the third annual anonymous media predictions list: 13 media, sports and entertainment executives make their best 2024 industry-shaking predictions.
Warner Bros. Discovery merger talks with Paramount Global may draw out NBCUniversal
Warner Bros. Discovery's merger talks with Paramount Global may bring NBCUniversal to the table.
AI is giving Santa a boost this holiday season
From using chatbots to predicting demand for items, retailers are experimenting with and expanding use of generative AI this holiday season.
New car sales are expected to rise slightly next year in the U.S.
Forecasters expect auto sales next year to increase by between 1% and 4% to roughly 15.6 million to 16.1 million vehicles sold.
Every restaurant chain wants to beat Chick-fil-A, but it's stronger than ever
Even McDonald's, which outstrips Chick-fil-A by sales and footprint, is leaning into chicken to drive growth.
Chair of powerful House committee pushes Shein about data protections, China relationship
The House Energy and Commerce Committee wants Shein to share more information on its relationship with China and its data protections ahead of its U.S. IPO.
Citigroup to close global distressed-debt business as part of CEO Jane Fraser's overhaul
Citigroup is exiting businesses with poor returns to bolster the bank's odds of hitting Fraser's performance targets.
Warner Bros. Discovery and Paramount Global in early merger talks
Paramount Global's controlling shareholder, Shari Redstone, is reportedly eager for a deal partner.
General Mills echoes FedEx with a warning about weaker demand
General Mills and FedEx both cut their revenue outlook for their fiscal years.
FedEx shares tumble 12% after weaker demand hit revenue outlook
It's the second consecutive quarter FedEx has lowered its sales guidance.
Over a half-billion dollars in railroad freight stuck at Texas border crossings amid migrant battle
Union Pacific, BNSF say the battle over migrants at U.S.-Mexico border key crossings is holding up hundreds of millions of dollars in freight.
Whiskey distillers cheer as EU, U.S. strike deal to avoid 50% tariff on exports to Europe
The European Union and U.S. agreed to extend the suspension of 50% tariffs on whiskey exports that American distillers had been dreading.
Shippers have already diverted over $80 billion in cargo from the Red Sea amid fears of attacks
Carriers are re-routing vessels as a direct result of 15 strikes in the Red Sea since the start of the Israel-Hamas war in October.
Southwest Airlines pilot pay would increase 50% under new labor contract
Southwest is the last of the major airlines to reach a labor deal with pilots.
With Aquaman sequel's release, one DC movie era ends and another begins
"Aquaman and the Lost Kingdom" opens this weekend, and it's expected to gross less than its surprise-hit predecessor.
Mortgage demand slips despite another drop in interest rates
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 6.83% from 7.07%.
Weight loss drugs, Alzheimer's treatments and gene editing: Enormous firsts defined 2023 in pharma
Wall Street turned its focus to a handful of newer treatments in different disease areas in 2023, including weight loss medications and a new Alzheimer's drug.
GM has cut its Buick dealership network in half through buyouts
The 1,000-store reduction is meant to increase throughput and profits at the remaining stores, according to Duncan Aldred, global head of Buick.
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