Walmart is increasing compensation for its superstore managers by boosting bonuses and adding stock grants that will boost the total compensation package for the highest-paid managers to over $400,000 annually, according to a report by the Wall Street Journal. Superstore managers at Walmart aren’t required to hold college degrees and may work their way up the corporate ladder from entry-level jobs at the retail giant — making the managerial role a lucrative career path for workers who may not have gone to c ...

Amazon said Monday it is terminating its planned $1.4 billion acquisition of iRobot after facing hurdles from European antitrust regulators.  The companies said the deal "had no path to regulatory approval in the European Union.""This outcome will deny consumers faster innovation and more competitive prices, which we're confident would have made their lives easier and more enjoyable," said David Zapolsky, Amazon senior vice president and general counsel. Under the deal, announced in August 2022, Amazon woul ...

Amazon founder Jeff Bezos is still using one of the original desks he made out of a door to save money shortly after founding the company to this day, according to a social media post from his girlfriend Lauren Sanchez. Sanchez posted a picture on Instagram on Sunday that showed Bezos working at one of the original door desks Bezos and colleagues made as cost-effective, homemade furniture when the e-commerce giant was still a young startup. "After all these years… When I walked in on him working this mornin ...

JPMorgan Chase chairman and CEO Jamie Dimon says the U.S. is speeding toward a cliff as the nation's runaway debt continues to mount, sounding the alarm that the situation needs to be tackled before it results in a crisis. The chief executive of the nation's largest bank issued the warning during a panel discussion at the Bipartisan Policy Center on Friday, when he was asked for his take on what it means for the economy if the federal government fails to address the issue. Ticker Security Last Change Change ...

Tesla is recalling nearly 200,000 of its model year 2023 vehicles because the rearview camera may not display an image while in reverse. The electric vehicle maker traced the issue to a "software instability," the National Highway Traffic Safety Administration (NHTSA) said in a statement.A total of 199,575 Model S, X and Y vehicles from 2023 with full self-driving computer 4.0 and certain software versions were included in the recall. "A rearview image that does not display while in reverse decreases the dr ...

Microsoft announced it is cutting 1,900 roles within its gaming division, marking the latest round of job layoffs in the tech industry. Amazon, Google and its parent company, Alphabet, have already laid off employees this year, as have banking titan Citigroup and the Los Angeles Times.Microsoft's cuts will primarily impact roles in its Activision Blizzard team, according to an internal email obtained by The Verge. Some Xbox and ZeniMax employees will also be laid off. LAYOFFS SURGED 98% IN 2023; IT COULD GE ...

Tesla CEO Elon Musk on Wednesday warned that Chinese automakers will "demolish" their global competition without tariffs or other trade barriers. His comments come after Chinese electric car company BYD, which makes cheaper cars and is backed by Berkshire-Hathaway, surpassed Tesla as the top-selling EV company last quarter.Chinese automakers were the "most competitive" and "will have significant success outside of China, depending on what kind of tariffs or trade barriers are established," Musk told investo ...

One of the co-CEOs of Netflix said Tuesday that the partnership it signed with WWE to air "Raw" and other wrestling content means the streaming giant has not changed its approach to live sports. "I would not look at this as a signal of any other change or any change to our sports strategy," Ted Sarandos, who along with Greg Peters helms Netflix, told analysts and investors.Under the agreement, WWE fans will see "Raw" broadcast on Netflix starting next year. The streaming giant will get "all WWE shows and sp ...

Tesla fell short of Wall Street expectations in its fourth quarter earnings released after the closing bell on Wednesday, sending shares tumbling more than 5% in extended trading. The electric vehicle giant's revenue rose 3% to $25.17 billion, short of the $25.62 billion expected from analysts, according to LSEG data. The gain marks Tesla's slowest pace of growth in more than three years.ELON MUSK SAYS TO EXPECT ROUGHLY 1 BILLION HUMANOID ROBOTS IN 2040s The Austin, Texas-based company reported a gross marg ...

Streaming giant Netflix flew past Wall Street’s estimates for its subscriber growth in its fourth-quarter earnings release after the bell on Tuesday, which sent the company’s stock surging into Wednesday’s trading day. The company announced that it added 13.1 million subscribers in the fourth quarter, which easily exceeded projected gains of 8.97 million subscribers. Those gains gave Netflix its largest-ever fourth quarter subscriber growth and brought the total number of subscribers to 260 million.Netflix’ ...