The U.S. Department of Justice has taken legal action against Live Nation, the parent company of Ticketmaster, alleging antitrust violations. This move, supported by 30 states and initiated on a Thursday, stems from a probe into Live Nation’s potential monopoly in the ticketing industry. The investigation was prompted in 2022 and gained traction following complaints
Business
The Consumer Financial Protection Bureau recently announced new regulations for the rapidly expanding buy now, pay later industry. This “interpretive rule” stipulates that BNPL lenders must adhere to the same federal protections as traditional credit card providers under the Truth in Lending Act. This move comes as a response to the industry’s exponential growth, dominated
The real estate market experienced a setback in April as sales of previously owned homes fell by 1.9% from the previous month, totaling 4.14 million units. This decline came as a surprise following the forecast of a slight gain in sales. The drop was also evident when compared to April of the previous year, marking
Macy’s, a well-known department store operator, reported fiscal first-quarter earnings that beat Wall Street’s expectations, showing early signs of momentum in its turnaround strategy. Despite the positive performance in earnings, the company mentioned that customers are expected to remain discerning in their discretionary purchases. This indicates a complex challenge that Macy’s still faces in attracting
Lowe’s recent quarterly earnings report has caused mixed reactions on Wall Street. Despite a decrease in sales of pricey items, the home improvement retailer managed to exceed the expectations of analysts. This performance is in stark contrast to that of Home Depot, which fell short of revenue expectations due to various market challenges. In the
Red Lobster, the popular seafood chain, has recently filed for Chapter 11 bankruptcy protection in an effort to restructure its operations and find a buyer. The company is facing significant debt and long-term leases that have weighed it down, leading to the closure of 93 underperforming locations on May 13. With assets between $1 billion
Last year, media giants heavily relied on sports to attract advertisers during the Upfronts meetings week. Due to a Hollywood strike and cost-cutting measures affecting content creation, companies faced challenges in showcasing their series and movies. This year, despite the return of stars post-strike, the focus at presentations still leaned more towards sports than scripted
The National Labor Relations Board recently announced that workers at the Mercedes-Benz plant in Alabama have voted against union representation by the United Auto Workers. This decision comes as a blow to the UAW’s organizing efforts following a successful drive at a Volkswagen plant in Tennessee just a month prior. Despite a high voter turnout
Walmart’s latest quarterly earnings report has exceeded both earnings and revenue expectations, showcasing a strong performance in the e-commerce sector. The company has made significant gains in its online sales, as customers are increasingly turning to digital platforms for their shopping needs. This shift in consumer behavior has played a key role in Walmart’s success,
Netflix announced on Wednesday that its cheaper, ad-supported tier has gained a significant following, with 40 million global monthly active users. This marks a substantial increase from the 23 million users reported earlier this year. The streaming giant’s decision to introduce this new tier was driven by a need to boost revenue amidst a slowdown