Walmart announced Tuesday that it is launching its largest private food brand in decades to lure in more cost-conscious shoppers. The brand, Bettergoods, will encompass 300 items including frozen, dairy, snacks, beverages, pasta, soups, coffee and chocolate, the Arkansas-based retailer said. All the items will cost between $2 and $15; "most products" will be priced under $5, Walmart said. WALMART CLOSING 51 HEALTH CENTERS OVER LACK OF PROFITABILITYTo set itself apart, Walmart touted that Bettergoods isn't a ...

McDonald's CEO Chris Kempczinski said Tuesday that the company expects wage inflation to impact restaurants nationwide, which he largely attributed to the higher minimum wage legislation recently implemented in California. "There is certainly labor inflation. Much of that is coming out of what happened in California," Kempczinski told analysts on the company's earnings call. Nationally,"we're expecting high single digit labor inflation. Again, much of that [is] from the bleed over of what California introdu ...

The National Highway Traffic Safety Administration (NHTSA) has launched an investigation into Ford's BlueCruise hands-free driving technology after two fatal crashes involving Mustang Mach-E electric SUVs. The agency's probe will evaluate the safety of Mustang Mach-E vehicles from the 2021 through 2024 model years, which is around 130,000 cars. Ford told FOX Business in a statement that it is "working with NHTSA to support its investigation."The National Transportation Safety Board (NTSB) has opened separat ...

Tesla CEO Elon Musk visited China over the weekend and met with Chinese Premier Li Qiang. Musk said Sunday on X that he was "honored" to meet with Li, adding, "We have known each other now for many years, since early Shanghai days."Musk had not previously announced plans to go to China or meet with Li. Li reportedly expressed a desire for more trade cooperation with the U.S. during his meeting with the Tesla CEO, according to Chinese outlet Xinhua. TESLA HAS AUTONOMOUS RIDE-HAILING SERVICE IN PIPELINE: WHAT ...

Prices at Chipotle, McDonald's and other fast-food giants in California are rising after a minimum wage hike went into effect.  "Chipotle said in an investor call Wednesday that prices at its nearly 500 California restaurants climbed 6% to 7% during the first week of April compared with last year, playing out across its menu," The Wall Street Journal reported Sunday. "The state isn't making it easy," Chipotle Chief Executive Brian Niccol reportedly said. CALIFORNIA'S $20 MINIMUM WAGE FOR FAST-FOOD WORKERS G ...

Google parent company Alphabet joined a handful of rival tech giants paying dividends, announcing its first-ever planned payout during its latest quarterly results, which were driven by momentum in search and plans to be even more dominant in AI.  The $0.20 cash dividend will be paid June 17 to shareholders of record as of June 10 for all three classes of company shares A, B and C. The search giant also authorized $70 billion in new share repurchases. The company is sitting on $108 billion in cash. Stocks I ...

Stock investors kicked into selling mode after the U.S. economy posted subpar growth in the first quarter.  The Dow Jones Industrial Average fell by triple digits, with the S&P 500 and tech-heavy Nasdaq Composite also seeing sharp pullbacks in early trading. IBM, Caterpillar and Microsoft – which reports earnings after the close of trading – paced the Dow's steep drop, while Merck, Coca-Cola and Apple rose. Google parent Alphabet and Intel will also report results later today. Ticker Security Last Change Ch ...

Tesla CEO Elon Musk said the EV-maker is planning to bring newer, more affordable models in early 2025 after recent uncertainty about the status of the company's long-discussed plans for a lower-cost EV in its lineup. Musk pushed back on a report by Reuters from earlier this month, which cited sources familiar with the company's planning and internal documents, that indicated Tesla had backed off its plan to launch a $25,000 EV — often referred to in reports as the "Model 2" though Tesla hasn't offered a na ...

The Walmart-backed financial technology company, One, is helping customers to buy now and pay later.  The payment option is being used in some of Walmart's stores. The Arkansas-based retailer has over 4,000 stores around the U.S. but it didn't specify which stores are using One. One declined to comment.  AMERICANS USING BUY NOW, PAY LATER TO AFFORD GROCERIES, OTHER NECESSITIESAccording to One’s website, the pay over time feature applies to purchases between $100 and $3,000. It also comes with an annual perc ...

Tesla is set to release its first-quarter earnings on Tuesday after the market closes – and the electric vehicle (EV) maker faces a reckoning from investors after a big sales miss. The company saw vehicle deliveries decline in the first quarter for the first time in nearly four years – falling well short of analysts' expectations amid a price war in China, where domestically made EVs like those from BYD have taken market share. Tesla has responded with price cuts for its most popular cars as well as its Ful ...