A coalition of major banking institutions and business organizations is taking a significant step by suing the Federal Reserve concerning the annual bank stress tests. The Bank Policy Institute (BPI), which advocates for some of the country’s largest banks, including JPMorgan Chase, Citigroup, and Goldman Sachs, is leading this legal action. They are joined by
Business
In a landmark move, Nordstrom has confirmed its transition to a privately held company following a buyout agreement worth approximately $6.25 billion. This strategic acquisition involves the Nordstrom family, the company’s founding members, and El Puerto de Liverpool, a prominent Mexican retail chain. Under the terms of the deal ratified by the board of directors,
As the holiday season approaches, a brewing conflict looms over Starbucks as baristas prepare for a strike that could disrupt operations just ahead of Christmas. The planned strike, which will begin in major U.S. cities including Los Angeles, Chicago, and Seattle, signifies deepening divisions between Starbucks and the union representing its baristas, Starbucks Workers United.
In recent years, the financial landscape of college athletics has transformed dramatically, capturing the attention of private investors eager to capitalize on the immense revenue generated by major sports programs. The evolution of college sports into a mega-industry is accompanied by significant questions regarding the inherent value of these athletic programs. An insightful exploration into
In recent years, the automotive landscape has been undergoing a dramatic transformation, with electric vehicles (EVs) becoming increasingly prominent. Stellantis, the parent company of Ram trucks, has announced a significant delay in the release of an entirely electric Ram pickup, pushing its launch from 2025 to 2026. This decision is emblematic of the challenges the
In a development that underscores the increasing scrutiny facing food delivery services, Grubhub has agreed to a $25 million settlement with the Federal Trade Commission (FTC) and the Illinois Attorney General’s Office. This settlement stems from allegations that the company engaged in deceptive practices that adversely affected diners, workers, and restaurants alike. A closer examination
The investment landscape is constantly evolving, and among the myriad of strategies explored by investors, family offices have recently leaned heavily toward direct investments in private companies. While this approach presents apparent opportunities for growth, recent surveys reveal a more nuanced reality, shedding light on the risks involved and the overall effectiveness of this strategy.
The recent passing of Brian Thompson, the CEO of UnitedHealthcare, has not only left a profound impact on his colleagues and the industry but has also cast a spotlight on the systemic issues plaguing the U.S. health care system. Andrew Witty, the CEO of UnitedHealth Group, expressed his sorrow in a heartfelt opinion piece for
On Thursday, the Consumer Financial Protection Bureau (CFPB) unveiled a landmark regulation aimed at curbing the rampant overdraft fees charged by banks. This initiative promises to significantly lessen the burden on American consumers, potentially saving them an astonishing $5 billion each year. The new guidelines allow banks to either charge a nominal fee of $5
The automotive industry is poised for notable shifts as it approaches 2025, with U.S. car dealers experiencing a renewed sense of positivity that could shape their business strategies in the near future. Insights from Cox Automotive reveal that the optimism largely stems from the recent U.S. presidential election and prospective economic conditions, despite persistent uncertainties