President Donald Trump’s proposed 50% tariff on Brazilian imports is bad news for coffee drinkers. Brazil, the largest U.S. supplier of green coffee beans, accounts for about a third of…
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Business
Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty
by adminIn a year when the U.S. consumer has been weighed down by economic uncertainty, geopolitical tensions and inflation, Black entrepreneurs are eager to get to the Essence Festival of Culture…
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The Federal Reserve on Wednesday proposed easing a key capital rule that banks say has limited their ability to operate, drawing dissent from at least two officials who say the…
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Business
Howard Schultz says he ‘did a cartwheel’ when Starbucks CEO Niccol coined ‘back to Starbucks’ strategy
by adminLAS VEGAS. — Former Starbucks CEO Howard Schultz said Wednesday that he “did a cartwheel” in his living room when current chief executive Brian Niccol first coined his “back to…
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Use of low-cost e-commerce giants Temu and Shein has slowed significantly in the key U.S. market amid President Donald Trump’s tariffs on Chinese imports and the closure of the de…
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Business
Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products
by adminAmazon’s devices unit has a new team tasked with inventing “breakthrough” consumer products that’s being led by a former Microsoft executive who helped create the Xbox. The ZeroOne team is…
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Reddit co-founder Alexis Ohanian has purchased a minority stake in Chelsea FC Women, giving him an ownership stake in two of the most-valuable teams in women’s sports. The founder of venture…
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Business
Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook
by adminKrispy Kreme stock plunged 24% on Thursday morning after the doughnut chain said it is “reassessing” its rollout with McDonald’s and pulled its full-year outlook in part due to economic “softness.” Krispy Kreme…
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Business
Nvidia says Anthropic is telling ‘tall tale’ in its defense of U.S. AI chip restrictions on China
by adminNvidia blasted Anthropic Thursday in a rare public clash over artificial intelligence policy with U.S. chip export restrictions set to take effect. “American firms should focus on innovation and rise to the challenge, rather than tell tall…
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Hermès to hike U.S. prices for iconic bags and scarves in response to Trump tariffs
by adminFrench luxury group Hermès will raise its U.S. prices from the start of May in order to offset the impact of President Donald Trump’s tariffs, the company’s finance chief said Thursday. The…
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Business
Tesla reports 336,000 vehicle deliveries in first quarter, 13% drop from a year ago
by adminTesla reported 336,000 vehicle deliveries in the first quarter of 2025, a 13% decline from a year ago, two days after the electric vehicle company’s stock wrapped up its worst quarter since…
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