Retail and apparel stocks spiked Friday morning after the Supreme Court struck down President Trump’s sweeping tariffs.Shares of Victoria’s Secret jumped as much as 5.6% as Dollar Tree cashed in with a 4% pop and Abercrombie & Fitch flexed a 5.5% gain. Lululemon and Dick’s Sporting Goods saw smaller spikes.The National Retail Federation welcomed the Supreme Court’s blockbuster decision stating Congress, not the president, has the power to impose tariffs.Retail and apparel stocks jumped Friday after the Supr ...

A federal judge rejected Tesla’s request to overturn a $243 million jury verdict over the 2019 crash of an Autopilot-equipped Model S, which killed a 22-year-old woman and severely injured her boyfriend.In a decision made public on Friday, US District Judge Beth Bloom in Miami said the evidence at trial “more than supported” the August 2025 verdict, and Tesla raised no new arguments to set the verdict aside.Tesla, led by Elon Musk, is expected to appeal. Its lawyers did not immediately respond to requests f ...

Tesla unveiled a cheaper Cybertruck variant in the US late Thursday and slashed the price of its most-expensive model, Cyberbeast, as the electric-vehicle maker struggles to find buyers for its pickup trucks.The Cybertruck was touted by CEO Elon Musk as a futuristic competitor to mass market pickup trucks from legacy brands such as Ford, but multiple recalls and quality control issues plagued the car and turned prospective customers away.Tesla has now priced the new dual-motor, all-wheel-drive model at $59, ...

JPMorgan lashed out at President Donald Trump on Thursday, accusing him of “fraudulently” naming CEO Jamie Dimon as a defendant in a $5 billion lawsuit over the closure of the commander-in-chief’s accounts and arguing the move was designed to keep the case in Florida.In a court filing Thursday in Miami, the bank asked a judge to move the case to federal court there and said it would later seek to transfer it to New York. JPMorgan described Trump’s claims as “threadbare” and said it plans to seek dismissal. ...

Core Insights - Amazon has laid off approximately 300 employees in New York as part of a larger plan to reduce its workforce by 16,000, which was announced last month [1][2][6] - The layoffs are part of a restructuring strategy that includes investments in artificial intelligence and addressing over-hiring during the COVID pandemic [2][6] - CEO Andy Jassy has indicated that the company will require fewer employees as it implements AI technologies, which are expected to lead to efficiency gains [3][8] Layoff Details - Specifically, 135 corporate employees at 1140 Broadway were laid off in January, with an additional 165 layoffs expected to be reported soon [1][2] - The layoffs in New York are part of a broader trend, with nearly 1,000 job losses occurring at nine Amazon locations in the city last year [8] Industry Impact - The latest cuts are believed to be focused on tech roles, which may impact Amazon's efforts to establish a strong presence in the New York tech community [9] - Other tech companies in New York may see this as an opportunity to attract talent from Amazon's workforce reductions [9]

The US trade deficit slipped modestly in 2025, a year in which President Trump upended global commerce by slapping double digit tariffs on imports from most countries. But the gap in the trade of goods such machinery and aircraft — the main focus of Trump’s protectionist policies — hit a record last year despite sweeping import taxes.Overall, the gap the between the goods and services the US sells other countries and what it buys from them narrowed to just over $901 billion, from $904 billion in 2024, but i ...

Core Viewpoint - West Virginia's attorney general has filed a lawsuit against Apple, alleging that its iCloud service has become a major platform for distributing child pornography, prioritizing user privacy over child safety [1][5][12] Group 1: Lawsuit Details - The lawsuit is described as the first of its kind by a government agency regarding the distribution of child sexual abuse material on Apple's platform [1][12] - The lawsuit seeks statutory and punitive damages and requests a judge to compel Apple to implement more effective measures for detecting abusive material and to design safer products [5][10] Group 2: Apple's Response and Features - Apple claims to have implemented features to prevent children from uploading or receiving nude images, emphasizing its commitment to user safety and privacy [4][13] - The company has developed a feature called Communication Safety, which blurs nudity and sensitive content on children's devices [13] Group 3: Historical Context and Comparisons - Until 2022, Apple did not scan all files uploaded to iCloud, and its data was not end-to-end encrypted, allowing law enforcement access with a warrant [6][16] - In comparison, other tech companies like Google and Microsoft actively check uploaded content against databases of known child sexual abuse material [6] - In 2023, Apple made 267 reports of abuse material, significantly lower than Google's 1.47 million and Meta Platforms' 30.6 million [14]

Core Viewpoint - The Justice Department is investigating the potential impact of a sale of Warner Bros. Discovery (WBD) to Netflix on the film industry, particularly regarding fewer new film releases and the implications for moviegoers [1][4]. Group 1: Investigation and Concerns - Federal antitrust lawyers are in discussions with major movie theater chains to assess the implications of the potential sale [2][11]. - The investigation is focused on whether a merger between Netflix and HBO Max would create a monopoly in the streaming industry [4]. - Concerns have been raised that a Netflix acquisition could negatively affect Hollywood, as Netflix typically does not release its original films in theaters [5]. Group 2: Competitive Bidding and Industry Reactions - Warner Bros. has resumed negotiations with Paramount Skydance after they improved their offer for WBD, which includes cable assets [5][14]. - Paramount has expressed that a sale to Netflix would not enhance competition but rather diminish it, citing concerns over the financial burden it would face post-acquisition [6]. - Industry figures, including James Cameron, have warned that a Netflix deal could be detrimental to cinemas [7]. Group 3: Netflix's Position and Promises - Netflix has criticized Paramount's actions as distractions and claims that its acquisition would provide more choices and value to audiences [8]. - Netflix CEO Ted Sarandos has promised to release all WBD films in theaters exclusively for 45 days, attempting to alleviate industry concerns [10]. - Some theater executives remain skeptical about Netflix's commitment to theatrical releases, seeking more concrete assurances [12]. Group 4: Investor and Regulatory Dynamics - Confidence is growing within Paramount that WBD may abandon the Netflix deal due to potential regulatory challenges [13]. - Activist investor Ancora Holdings, with a nearly $200 million stake in WBD, plans to oppose the Netflix deal, arguing that the board did not adequately engage with Paramount [13].

Group 1 - United Airlines is revamping its frequent-flyer loyalty program to reward travelers who use a United co-branded credit or debit card, while reducing mileage earning for non-cardholders [1][5] - The changes aim to increase the adoption and usage of United's card products [5] - MileagePlus cardholders will earn up to twice as many miles per dollar spent on United flights compared to non-cardholders, effective for tickets purchased on or after April 2 [3][4] Group 2 - The overhaul includes stricter rules for non-cardholders, who will earn fewer miles on flights, and general members will not earn miles on basic economy tickets unless they hold a co-branded card [4] - Loyalty programs in the airline industry have become significant profit engines, generating billions of dollars annually through the sale of frequent-flyer miles to banking partners [2]

Core Viewpoint - eBay aims to expand its presence in the Gen Z market by acquiring the secondhand fashion marketplace Depop from Etsy for approximately $1.2 billion in cash [1][6]. Group 1: Acquisition Details - The acquisition is expected to close in the second quarter and has been unanimously approved by the boards of eBay and Etsy [8]. - eBay plans to pay for the acquisition in cash, while Etsy intends to use the proceeds for general corporate purposes, share repurchases, and investment in its core marketplace [6]. Group 2: Market Position and Demographics - As of December 31, 2025, Depop had 7 million active buyers, with nearly 90% under the age of 34, and over 3 million active sellers [4]. - eBay's CEO Jamie Ianonne expressed confidence that Depop will be better positioned for long-term growth as part of eBay, benefiting from its scale and operational capabilities [3]. Group 3: Market Reaction - Following the announcement of the acquisition, eBay's shares rose by more than 7%, while Etsy's shares increased by nearly 15% in after-hours trading [9].