Target is weighing a new paid membership program for its customers similar to Amazon and Walmart, Bloomberg News reported Wednesday, citing people familiar with the matter.The new program, internally titled as Project Trident, could launch as soon as this year, the report said, without giving details about the pricing of the membership program.Target did not immediately respond to a Reuters request for comment.The retailer will be a late entrant into the market of paid membership and will have to compete w ...

Fox, Walt Disney’s ESPN and Warner Bros. Discovery will build a sports streaming platform, the companies said in a statement on Tuesday.Fox, Walt Disney’s ESPN and Warner Bros. Discovery are building a sports streaming platform. USA TODAY Sports via Reuters Con The product will bring sports linear networks and Direct-to-Consumer ESPN+ together, the statement said.This is a developing story, please check back for updates. ...

Is the $18 Big Mac combo what finally broke America?Low-income customers making less than $45,000 per year have largely stopped ordering from McDonald’s, the fast-food giant’s chief executive Chris Kempczinski admitted Monday on an earnings call with Wall Street analysts.A Big Mac, fries and drink has risen to nearly $18 at a handful of locations while hash browns are up to $6.And it’s driven away customers fed up with inflation. Global same-store sales in the latest quarter had grown just 3.4%, falling sh ...

McDonald’s CEO admitted the burger giant’s sales have taken a hit as jacked-up menu prices have turned off core customers — and signaled the chain plans to focus on “affordability” this year. The Chicago-based fast-food behemoth — which has lately taken heat over a Big Mac combo meal priced at $18 — said its global same-store sales in the latest quarter had grown just 3.4%, falling short of the 4.7% growth Wall Street had expected.The lackluster quarter — which the company also blamed on conflict in the Mi ...

Mark Zuckerberg’s fortune surged by more than $28 million after the Meta CEO profited off his company’s record-breaking stock surge.As of Monday, Zuckerberg is the world’s fourth-richest person, with a net worth of $170 billion, according to the Bloomberg Billionaires Index.Zuckerberg’s wealth was buoyed by Meta’s share price, which skyrocketed to an all-time high of $474.99 per share — a 20% gain — as of Friday’s closing bell.The gain added $197 billion to the Facebook-parent’s market capitalization, Bloo ...

Goldman Sachs is shuffling its management committee, in the latest indication of the power dynamics at the bank, the Wall Street Journal reported Friday, citing people familiar with the matter.A source familiar with the matter told Reuters that company veterans Alison Mass and George Lee have left the group, which comprises the heads of the bank’s main divisions and other top executives.Goldman is also creating two new committees to help oversee investment banking and markets, the Journal’s report added.“Fi ...

Tesla is recalling nearly all of the vehicles it has sold in the US because some warning lights on the instrument panel are too small.The recall of nearly 2.2 million vehicles announced Friday by the National Highway Traffic Safety Administration is a sign of stepped-up scrutiny of the electric vehicle maker. The agency also said it has upgraded a 2023 investigation into Tesla steering problems to an engineering analysis, a step closer to a recall.Documents posted Friday by the agency say the warning light ...

Mark Zuckerberg will earn $700 million per year through Meta’s new quarterly dividend – an astronomical payout announced just one day after he faced outrage on Capitol Hill over a failure to protect children from online sex abuse and exploitation.The 39-year-old tech tycoon’s payday stems from Meta’s plans disclosed late Thursday to pay a quarterly cash dividend of 50 cents per share of common stock beginning this March. Since Zuckerberg owns about 350 million shares, he will rake in approximately $175 mil ...

Meta announced plans for its first-ever dividend and Amazon posted strong earnings, while Apple reported a sales slowdown in its key China market as three of the biggest tech stocks reported quarterly earnings on Thursday.The Big Tech behemoths, three of the so-called “Magnificent Seven,” have driven a market resurgence – though optimism has cooled in recent days as layoffs hammered the sector.Mark Zuckerberg-led Meta reported better-than-expected earnings, sending shares soaring more than 14% in after-hou ...

Disney on Thursday appealed a judge’s dismissal of its free speech lawsuit over what it described as Gov. Ron DeSantis’ retaliatory takeover of Walt Disney World’s governing district, as the Florida governor separately called any appeal “a mistake.”“They should move on,” DeSantis said at a news conference in Jacksonville a day after the ruling.Disney filed a notice of appeal over Wednesday’s ruling by a federal judge in Tallahassee, saying that it would set a dangerous precedent if left unchallenged by giv ...