In a bold move, Dick's Sporting Goods plans to acquire Foot Locker for $2.4 billion, aiming to merge their strengths in the competitive sports retail market. Despite concerns from investors about Foot Locker's declining sales, both companies believe this partnership will enhance their market reach and customer experience. The deal is set to reshape the landscape of sports retail and expand sneaker culture globally.
Burberry has announced plans to cut 1,700 jobs as part of a cost-saving initiative following a £66m loss. The cuts, primarily affecting the UK, aim to streamline operations and ensure the brand's future in luxury fashion.
Fidji Simo, the current CEO of Instacart, is set to join OpenAI as the CEO of Applications later this year. With a wealth of experience from Meta and Instacart, she aims to leverage AI for the public good.
Elon Musk announces a significant shift in focus back to Tesla as the company faces a 71% earnings drop. After months in the Trump administration, he assures investors of renewed commitment to Tesla's future.
In a gripping courtroom saga, Mark Zuckerberg defends his $19 billion investment in WhatsApp, claiming it was a strategic move against competitors like Apple and Google amid an FTC antitrust lawsuit.
Jaguar Land Rover has announced a temporary halt on shipments to the U.S. due to new tariffs imposed by President Trump, impacting its significant exports and revenue.
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Elon Musk's xAI has acquired X (formerly Twitter) for $33 billion, merging two of his companies and potentially reshaping the AI landscape. Find out what this means for the future of social media and AI.
In a surprising turn, Dollar Tree is offloading Family Dollar for just $1 billion, a steep loss from its original $9 billion purchase. The sale highlights the challenges faced by discount retailers amid rising costs and fierce competition.
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