Global News

[ad_1] American clothing and accessories retailer American Eagle store seen in Hong Kong. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) Budrul Chukrut | Lightrocket | Getty Images Shares of American Eagle plummeted nearly 16% on Tuesday after the company issued a holiday forecast that failed to impress.  For its holiday quarter, American Eagle expects sales to be up high single digits, ahead of the 3.4% sales growth analysts had expected, according to LSEG. However, it's expecting its operating income to be between $105 million and $115 million, which is mostly below expectations of $114 million, according to StreetAccount. The forecast was dampened by an expected 20% uptick in selling and general administrative expenses, the company said.   The apparel retailer outperformed in its fiscal third quarter, however. Here's how the company did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refiniti...

[ad_1] In this photo illustration, an insulin pen manufactured by the Novo Nordisk company is displayed on March 14, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images The top executives of the three drug companies that control 90% of the global insulin market will testify May 10 before the Senate Health Committee on lowering prices of their diabetes drugs, panel Chairman Sen. Bernie Sanders said Friday. Those companies — Eli Lilly , Novo Nordisk and Sanofi — had announced in March that they will slash prices of their most widely used insulin products by 70% or more. related investing news Sanders on Friday called that move an important step forward that was the result of "public outrage and strong grassroots efforts." But the Vermont independent added that Congress must ensure that insulin, whose price has increased by more than 1,000% since 1996, is affordable for everyone. "We must make certain, however, that those price reductions go in...

[ad_1] Kudos diapers founder Amrita Saigal with her daughter Courtesy: Kudos Throughout modern history, parents have only had one real option when it comes to disposable diapers: plastic. The single-use products are typically made with fossil fuels like petroleum and can take hundreds of years to break down, making them the third-largest consumer item in U.S. landfills, according to the Environmental Protection Agency.  Plus, they're not as breathable as other materials, which could make incidents like diaper rashes more common.  Still, plastic diapers from mega brands like Procter & Gamble -owned Pampers and Kimberly-Clark -owned Huggies continue to dominate the market. Amrita Saigal, founder and CEO of Kudos, is looking to change that.  The Massachusetts Institute of Technology graduate, mechanical engineer and "Shark Tank" alum developed a sustainable diaper that uses some plastic, but is 100% lined with cotton and incorporates other degradable materials like...

[ad_1] Christian Petersen | Getty Images Sport | Getty Images Tensions are building among broadcast station owners and pay TV providers as the local rights to air NBA, NHL and MLB games go up for grabs. Broadcast station owners including E.W. Scripps Co., Gray Television, Nexstar Media Group and Sinclair have been in discussions with leagues and teams about potential deals to carry games on free over-the-air channels, according to people familiar with the matter, as long-held media rights for teams on regional sports networks unravel. Regional sports networks have owned almost all local sports rights for decades, but their viability is in doubt after tens of millions of Americans have been canceling cable TV in recent years. A shift to a model revolving around broadcast stations and direct-to-consumer streaming would upend the business that saw teams and leagues reap hefty fees. It would also boost broadcast station owners leverage in carriage negotiations — and potentially ac...

[ad_1] A shopper in the seasonal aisle of a Target store on Black Friday in Chicago, Illinois, US, on Friday, Nov. 25, 2022. US retailers are bracing for a slower-than-normal Black Friday as high inflation and sagging consumer sentiment erode Americans demand for material goods. Photographer: Christopher Dilts/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images As holiday shopping season begins, lack of big orders from retailers is the rule amid fears that consumer spending will be weak, according to a new CNBC Supply Chain Survey. At C.H. Robinson , which serves 7,500 retailers, customers are generally being cautious, said Noah Hoffman, vice president for North American Surface Transportation, with inflation still an issue and ongoing uncertainty about the U.S. economy and risk of recession. "The largest retailers are past working through their excess inventories, but careful not to over-order," Hoffman said, while some of the small- to medium-sized retailer...

[ad_1] A sign hangs outside the Shein warehouse in Whitestown, Indiana, on Nov. 29, 2023. Scott Olson | Getty Images The chair of a powerful House committee is drilling down on Shein's data privacy practices and its relationship with the Chinese Communist Party as the fast-fashion giant moves closer to a U.S. initial public offering .  Reps. Cathy McMorris Rodgers, a Washington Republican who leads the House's Committee on Energy and Commerce, sent a letter to Shein on Wednesday asking about the user data it collects and the communications it has had with the Chinese government. Rep. Gus Bilirakis, R-Fla., who chairs the panel's Subcommittee on Innovation, Data and Commerce, co-signed the letter. The lawmakers sent similar missives to TikTok, Temu and Alibaba.  "Media reports indicate that Chinese-owned e-commerce marketplaces are increasingly popular in the western world. This is a serious risk for e-commerce, consumer safety, and people's data privacy and s...

[ad_1] Nicolas Jammet, chief concept officer and co-founder of Sweetgreen Inc., right, eats a salad during the company's initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 18, 2021. Michael Nagle | Bloomberg | Getty Images Sweetgreen on Thursday reported a narrower-than-expected loss in its first quarter after slowing its expansion to focus on profitability. The salad chain, which went public in November 2021, is aiming to turn a profit for the first time by 2024. Last quarter, it announced it would take a more conservative approach to entering new markets. It's also cutting support-center costs and simplifying its management structure. Sweetgreen shares rose 7% in extended trading. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Loss per share: 30 cents vs. 35 cents expected Revenue: $125.1 million vs. $126 million expected ...

[ad_1] A pilot performs a walkaround before a United Airlines flight Leslie Josephs/CNBC U.S. passenger airlines have added nearly 194,000 jobs since 2021 as companies went on a hiring spree after spending months in a pandemic slump, according to the U.S. Department of Transportation. Now the industry is cooling its hiring. Airlines are close to their staffing needs but the slowdown is also coming in part because they're facing a slew of challenges. A glut of flights in the U.S. has pushed down fares and eaten into airlines' profits . Demand growth has moderated. Airplanes are arriving late from Boeing and Airbus , prompting airlines to rethink their expansions. Engines are in short supply . Some carriers are deferring airplane deliveries altogether. And labor costs have climbed after groups like pilots and mechanics inked new contracts with big raises, their first in years. Annual pay for a three-year first officer on midsized equipment at U.S. airlines averaged $170...

[ad_1] Passengers make their way through the terminal as they travel ahead of the Thanksgiving holiday at Washington Dulles International Airport in Dulles, Virginia, on Nov. 22, 2023. Kevin Lamarque | Reuters In air travel, minutes matter. A few moments could be the difference between making and missing a connection for passengers — and could avoid delays that ripple across the schedule for airlines. Saved time could even lead to big savings for carriers as they scramble to get a handle on costs. Major airlines are rolling out strategies that executives say could translate to lower costs and more efficient operations, even if the time savings on paper look negligible. Some of these tools will be put to the test during what's expected to be a busy holiday season , a year after a meltdown that stranded thousands of passengers at the end of 2022. Many of the improvements are being made behind the scenes. American Airlines last year started using new technology to assign flight...