Breaking News: Business
- Amazon threatens ‘drastic action’ after Saks bankruptcy, says $475M stake is now worthless - Amazon invested $475 million into Saks's acquisition of Neiman Marcus. It wants a federal judge to reject Saks's bankruptcy plan because it harms creditors.
- Spotify hikes U.S. Premium subscription price months after last rate increase - Co-founder Daniel Ek recently stepped down as CEO, with co-CEOs Gustav Söderström and Alex Norström now at the helm of the music streamer.
- Automakers like Ford and GM are jumping into a whole new business where Tesla is a serious player - Automakers Ford and GM are trying to figure out what to do with battery factories now that EV sales are falling way short of forecasts
- Elon Musk's xAI probed by California DOJ over Grok's deepfake explicit images - Musk's Grok AI chatbot faces investigations from India, Malaysia, Indonesia, Ireland, Australia, the UK and France as well.
- Stellantis CEO: 2026 is the ‘year of execution’ as Wall Street awaits turnaround strategy - Stellantis CEO Antonio Filosa views 2026 as an execution year for the embattled automaker following years of sales declines in the U.S.
- Musk says Tesla is moving Full Self-Driving to a monthly subscription - Tesla is lagging Waymo in autonomous mobility as the Alphabet-owned driverless car service topped 450,000 paid weekly rides in December.
- Existing home sales end 2025 with a strong beat, as prices ease further - Home sales ended 2025 much stronger than expected, likely thanks to lower mortgage rates and easing home prices.
- Netflix likely to adjust Warner Bros. Discovery offer to make it all-cash - Netflix is likely to amend its offer for Warner Bros. Discovery's streaming and studio business after reaching an earlier agreement in December.
- Tariffs and AI's downside pose top global risks for business, World Economic Forum says - The report captures a shifting landscape where geoeconomic confrontation leaps to the top spot on the list of business worries over the next two years
- Saks Global, the longtime leader of luxury department stores, files for bankruptcy protection - Saks Global, which also owns Neiman Marcus and Bergdorf Goodman, filed for bankruptcy protection after running out of cash.