One of the largest local TV broadcasters in the U.S., E.W. Scripps, has made headlines by hiring a financial advisor to evaluate interest in acquiring Bounce TV, its over-the-air network tailored for African American audiences. This move comes in the wake of Paramount Global exploring the sale of BET Media Group, a Black entertainment company,
Business
General Motors’ first-quarter performance exceeded expectations, with the company witnessing a surge in both revenue and net income. The automotive giant has raised its 2024 guidance following a stellar first quarter, highlighting robust North American operations as a key contributor to its success. GM’s adjusted earnings are now expected to reach $12.5 billion to $14.5
The U.S. Federal Trade Commission took a firm stance on Monday by filing a lawsuit to obstruct the $8.5 billion deal between Coach and Kate Spade’s parent company, Tapestry, and Capri Holdings. This move throws a temporary wrench in the plan to merge two prominent names in American luxury retail and consolidate six fashion brands
The United Auto Workers achieved a significant victory over the weekend as Volkswagen workers in Chattanooga, Tennessee voted overwhelmingly in favor of joining the union. This victory marks the UAW’s first successful attempt at organizing a foreign-owned automaker plant in the South. The implications of this vote have the potential to affect other automakers, organized
Boeing recently informed its employees about the possibility of a slower increase in production and deliveries of the new 787 Dreamliner planes. This setback is attributed to supplier shortages of “a few key parts,” which have impacted the manufacturing process. The aviation giant has already faced challenges with its 737 Max planes, slowing down deliveries
The recent announcement of Aaron LaBerge’s departure from Disney as the chief technology officer has sent shockwaves through the entertainment industry. LaBerge’s decision to take on a new role at PENN Entertainment, the company behind ESPN Bet, marks the end of an era at Disney. His departure comes at a critical time when Disney is
Express, a longtime mall retailer, recently made headlines by filing for Chapter 11 bankruptcy protection. The company, which owns popular brands like Bonobos and UpWest, is facing significant challenges that have led to the closure of 95 of its stores and all UpWest locations. This decision comes after years of declining revenue, mounting debt, and
Recent studies have shown a significant shift in consumer behavior among individuals taking GLP-1 drugs, with many reporting reduced spending on food. The Morgan Stanley survey revealed that a majority of respondents are cutting back on expenses related to dining out at restaurants and ordering takeout. This trend is expected to have lasting implications on
The United Auto Workers have achieved a significant milestone in their efforts to expand their reach beyond Detroit’s Big Three automakers. In a historic win, Volkswagen employees in Chattanooga, Tennessee, have overwhelmingly voted to join the union. This marks the UAW’s first successful organizing drive of an automaker outside of the traditional stronghold of the
Lululemon, the popular athletic apparel retailer, has announced its plans to close its distribution center in Sumner, Washington, resulting in the layoff of 128 employees. The company filed a WARN notice with the state’s Employment Security Department, confirming its decision to shut down the facility located south of Seattle. The layoffs will commence on June