Business News

At Sam’s Club, a Human Will No Longer Check Your Receipt at the Door

Buying things in bulk at wholesale retailers can be an all-day affair. Sam’s Club, the store chain owned by Walmart, is trying to make that time shorter: by using artificial intelligence to scan shoppers’ carts so they no longer have to show a receipt at the exit upon checking out. “Eliminating even the few seconds […]

At Sam’s Club, a Human Will No Longer Check Your Receipt at the Door Read More »

Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting

Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year. “As we look forward, our business performance remains sensitive to interest rates and the health of the U.S. economy, but we are confident

Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting Read More »

Is Iowa a must-win state for Republican 2024 candidates? Political strategists weigh in

Is Iowa a must-win state for Republican 2024 candidates? Political strategists weigh in – CBS News Watch CBS News Ron DeSantis’ 2024 campaign manager, James Uthmeier, told CBS News Thursday he doesn’t think Iowa is “a must-win state,” just days ahead of the caucuses. Republican strategist Leslie Sanchez and Democratic strategist Joel Payne join CBS

Is Iowa a must-win state for Republican 2024 candidates? Political strategists weigh in Read More »

House to vote next week on holding Hunter Biden in contempt of Congress

Washington — The House will vote next week on whether to hold Hunter Biden in contempt of Congress for defying a Republican subpoena for closed-door testimony, moving forward with the effort to punish the president’s son, who now says he would comply if Republicans issue a new subpoena. House Majority Whip Steve Scalise announced the

House to vote next week on holding Hunter Biden in contempt of Congress Read More »

Citigroup is cutting 10% of its workforce in CEO Jane Fraser’s corporate overhaul

Jane Fraser, Citi, at WEF, Davos, Jan. 17, 2023. Adam Galica | CNBC Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and stock price. About 20,000 employees will be let go over the “medium term,” New York-based Citigroup said Friday in a slideshow tied

Citigroup is cutting 10% of its workforce in CEO Jane Fraser’s corporate overhaul Read More »

Space company Momentus, once valued at more than $1 billion, is running dangerously low on money

An artist’s rendering of a Momentus Vigoride transfer vehicle deploying a satellite in orbit. Momentus Space company Momentus warned shareholders in a securities filing on Friday that the company is running out of money and does not have a financial lifeline. Momentus, once valued at more than $1 billion before going public via a special

Space company Momentus, once valued at more than $1 billion, is running dangerously low on money Read More »

Citigroup posts $1.8 billion fourth-quarter loss after litany of charges

Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year’s regional banking crisis and CEO Jane Fraser’s corporate overhaul. All told, the charges — so massive the bank preannounced their effect this week — hit quarterly earnings by $4.66 billion, or $2 per share, Citigroup

Citigroup posts $1.8 billion fourth-quarter loss after litany of charges Read More »