Simon Property Group and Brookfield Asset Management, the owners of department store chain JCPenney, have made a bid to acquire rival retailer Kohl’s, according to the New York Post. The shopping mall giant and asset manager, which bought JCPenney out of bankruptcy for $1.75 billion in 2020, have offered Kohl’s …
Read More »Elon Musk won’t be joining Twitter’s board of directors after all
It turns out that Elon Musk won’t be joining Twitter’s board of directors after all. Elon Musk offers to buy Twitter for $43 billion Late Sunday, Twitter CEO Parag Agrawal said Musk “has decided not to join our board,” sharing a message he sent the company regarding the change. Musk …
Read More »Another pain point for U.S. motorists: Car insurance costs
Soaring gas prices aren’t the only expense U.S. drivers are grappling with these days. Insuring a vehicle costs roughly $700 more now than before the coronavirus pandemic, industry data shows. The typical motorist will spend $1,771 on auto insurance this year, up nearly $100 from 2021, according to a new …
Read More »Online sports gambling is a home run, but not yet with investors
Betting on sports online has proved to be a big hit with Americans as more states legalize it, with gamblers smashing records on the Super Bowl and March Madness. But one group has so far proved more skeptical: investors. The stock prices of leading sports betting companies have slumped despite …
Read More »Asking price for a typical U.S. home nears $400,000, up 13% in just one year
The housing market has been in a frenzy during the pandemic, with prices surging as buyers bid higher and higher on a dwindling inventory. Prospective buyers hoping for a break this spring aren’t likely to see one, with recent home prices continuing to jump by double-digit percentages. The median listing …
Read More »Carl Icahn takes on McDonald’s over “unnecessary suffering” by pigs
Carl Icahn’s reputation as a ruthless corporate raider may be at risk as the billionaire mogul takes on the world’s biggest fast-food chain over the treatment of pigs that end up in the U.S. pork supply. “I really do feel emotional about these animals and the unnecessary suffering you put …
Read More »Sony to acquire Bungie game studio — developer of Xbox
PlayStation-maker Sony is escalating its competition with Xbox-maker Microsoft by buying the video game studio behind one of Xbox’s hit games. Sony Interactive Entertainment said Monday it would spend $3.6 billion to buy Bungie Inc., an independent game publisher based in Bellevue, Washington. Bungie makes the popular game franchise Destiny …
Read More »Netflix tanks again as investors question growth prospects
Netflix shares continued to slide on Friday, tumbling 22% a day after the streaming video service announced a slowdown in subscriber growth. The company’s stock price also fell 20% on Thursday in after-hours trading when Netflix disclosed that it expects to add just 2.5 million customers in the first quarter, …
Read More »Take
Take-Two Interactive, maker of Grand Theft Auto and Red Dead Redemption, is buying Zynga, maker of FarmVille and Words With Friends, in a cash-and-stock deal with an enterprise value of about $12.7 billion. Zynga shareholders will receive $3.50 in cash and $6.36 in shares of Take-Two common stock for each …
Read More »Meat prices are soaring as inflation bites U.S. consumers
Meatless Mondays could soon be followed by Tofu Tuesdays, at least among more frugal shoppers. Americans with an eye on the rising cost of groceries may want to curtail their purchases of animal protein, which have collectively notched double-digit price hikes over the past year. Since October of 2020, the …
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