Latest Corporate management News

McDonald's says $18 Big Mac meal was an 'exception' and news reports overstated its price increases

May. 29, 2024 18:10 PM EDT

McDonald’s is fighting back against viral tweets and media reports that it says have exaggerated its price increases. In a post on the company’s website Wednesday, McDonald’s U.S. President Joe Erlinger said reports suggesting the price of the average Big Mac has doubled since...

Okta: Fiscal Q1 Earnings Snapshot

May. 29, 2024 16:14 PM EDT

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Okta Inc. (OKTA) on Wednesday reported a loss of $40 million in its fiscal first quarter. On a per-share basis, the San Francisco-based company said it had a loss of 24 cents. Earnings, adjusted for one-time gains and costs, came to 65...

Ryan Salame, part of the 'inner circle' at collapsed crypto exchange FTX, sentenced to prison

May. 28, 2024 14:29 PM EDT

NEW YORK (AP) — A federal judge on Tuesday sentenced former FTX executive Ryan Salame to more than seven years in prison, the first of the lieutenants of failed cryptocurrency mogul Sam Bankman-Fried to receive jail time for their roles in the 2022 collapse of the cryptocurrency exchange. ...

Major retailers are offering summer deals to entice inflation-weary shoppers

May. 27, 2024 19:59 PM EDT

NEW YORK (AP) — Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather. Major retailers are stepping up discounts heading into the summer months, hoping to entice inflation-weary shoppers into opening their wallets. ...

US company rejects Mexico's criticism, buy-out offer, says president's projects hurt the environment

May. 27, 2024 15:35 PM EDT

MEXICO CITY (AP) — An American quarry company on Monday rejected the Mexican president's campaign of criticisms and closures, as well as his offer to buy its property on the Caribbean coast. In July, President Andrés Manuel López Obrador offered to buy the American company’s...

Luciano Benetton says he's stepping down as chairman of family-run brand as losses top $100 million

May. 25, 2024 12:25 PM EDT

MILAN (AP) — Luciano Benetton, a co-founder of the apparel brand, announced he was stepping down as chairman in an interview published on Saturday with Milan daily Corriere della Sera. He blamed current management for losses of 100 million euros ($108.5 million) that he discovered last year. ...

CorVel: Fiscal Q4 Earnings Snapshot

May. 22, 2024 06:42 AM EDT

FORT WORTH, Texas (AP) — FORT WORTH, Texas (AP) — CorVel Corp. (CRVL) on Wednesday reported profit of $19.5 million in its fiscal fourth quarter. The Fort Worth, Texas-based company said it had net income of $1.12 per share. The health care management company...

Bruce Nordstrom, who helped grow family-led department store chain, dies at 90

May. 19, 2024 23:10 PM EDT

SEATTLE (AP) — Bruce Nordstrom, a retail executive who helped expand his family's Pacific Northwest department store chain into an upscale national brand, has died. Seattle-based Nordstrom Inc. said its former chairman died at his home on Saturday. He was 90. ...

China sanctions Boeing, two U.S. defense contractors for Taiwan arms sales

May. 19, 2024 23:10 PM EDT

BEIJING (AP) — China's Ministry of Commerce announced sanctions against Boeing and two other defense companies Monday for arms sales to Taiwan, on the day of Taiwan's presidential inauguration. The move is the latest in a series of sanctions Beijing has announced in recent years...

McDonald's plans $5 US meal deal next month to counter customer frustration over high prices

May. 16, 2024 16:37 PM EDT

McDonald’s plans to introduce a $5 meal deal in the U.S. next month to counter slowing sales and customers’ frustration with high prices. The deal would let customers get a four-piece McNugget, small fries, a small drink and either a McDouble burger or a McChicken sandwich for $5...