Business

American Eagle on Tuesday said it is writing off $75 million in spring and summer merchandise and withdrawing its full-year guidance as it contends with slow sales, steep discounting and an uncertain economy. The apparel retailer…

Financial technology company Chime on Tuesday filed paperwork to go public on the Nasdaq. The company intends to file under the ticker symbol “CHYM.” “Chime is a technology company, not a bank,” the company said…

CAMDEN, N.J. — The father and son duo behind a stock fraud scheme involving the infamous $100 million New Jersey deli were sentenced to several months in prison Tuesday. Peter Coker Jr. was sentenced to…

UnitedHealth Group announced a new chief executive Tuesday, a sudden and surprising change following the fatal shooting in December of its UnitedHealthcare subsidiary’s leader. Andrew Witty stepped down from leading UnitedHealth for unspecified “personal reasons,” the company said.…

Microsoft on Tuesday said that it’s laying off 3% of employees across all levels, teams and geographies. “We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace,” a…

McDonald’s announced a plan to hire 375,000 employees across the U.S. this summer. The plan, announced on Monday, is one of the fast-food chain’s largest hiring pushes in years, according to a news release. It…

As struggling drugstore chains work to regain their footing, Walgreens is doubling down on automation.  The company is expanding the number of retail stores served by its micro-fulfillment centers, which use robots to fill thousands of prescriptions for patients who…

Fox Corp. will launch its direct-to-consumer streaming service, to be called Fox One, ahead of the National Football League season later this year. Fox CEO Lachlan Murdoch unveiled the name and timing of the company’s upcoming…

Epic Games said on Friday that it submitted Fortnite to Apple’s App Store, the month after a judge ruled in favor of the game maker in a contempt ruling. Fortnite was booted from iPhones and Apple’s App Store in 2020, after…

America’s supply chain is under attack. From coast to coast, organized criminal groups are hitting trucks on the road, breaking into warehouses and pilfering expensive items from train cars, according to industry experts and law…