In a recent development, employees at a Starbucks café in Rochester, NY, have filed a petition with the National Labor Relations Board (NLRB) to decertify the Service Employees International Union’s (SEIU) front group, known as Starbucks Workers United. This comes after the SEIU won an election in April 2022 with a narrow vote of 13-11.
Business
Fanatics, the sports platform company with a private valuation of $31 billion, has agreed to acquire the U.S. operations of PointsBet for $150 million in cash. This marks Fanatics’ first major move into U.S. sports betting. The deal is expected to give Fanatics access to at least 15 states. Fanatics plans to fund some of
Goldman Sachs has launched its first-ever startup from its internal incubator, a networking platform for employees called Louisa. The New York-based investment bank funded and owned the startup until recently, when it became independent. Founder-CEO Rohan Doctor is now working to expand the client base beyond Goldman Sachs. Louisa is designed to automatically create user
The COVID-19 pandemic has disrupted lives and economies worldwide, with many countries still struggling to contain the virus. In the United States, the pandemic led to the development of a Bluetooth system by Apple and Google to track the spread of infection and send push alerts to smartphone users who came into contact with infected
The battle for streaming supremacy among major media and entertainment companies has come to an end. These companies are now aware that significant growth in streaming subscribers is not achievable anymore. Disney+ lost four million subscribers during the first three months of the year, while Netflix added 1.75 million subscribers in its first quarter. Warner
Eli Lilly CEO Dave Ricks has promised not to raise prices on the company’s existing insulin products again. He was the only executive to do so before a Senate Health Committee hearing on making the life-saving diabetes drug more affordable. Sen. Bernie Sanders, the committee’s chair, asked Ricks and the CEOs of Novo Nordisk and
During a recent earnings call, Disney CEO Bob Iger took a moment to congratulate Universal Studios on the success of their latest film, “The Super Mario Bros. Movie.” Iger noted that the film’s global box office success proves that audiences around the world still enjoy being entertained in theaters, and he expressed optimism about the
Disney has announced plans to integrate Hulu content into its Disney+ streaming app in the US. The move will create a “one app experience” for subscribers, according to CEO Bob Iger. The standalone options for all Disney platforms, including ESPN+, will remain in place. The move towards a unified streaming experience is part of Disney’s
Consumer electronics retailer Best Buy has announced that it will revamp its membership program, TotalTech, due to decreased demand for electronics. The program will be renamed My Best Buy Memberships and will consist of three tiers. The new lower-priced option will offer exclusive discounts and access to popular products. Revenue Expectations and Cost Reduction Measures
Warner Bros. Discovery, like other major media companies, is shifting its focus to streaming video as an increasing number of Americans cancel their traditional pay TV subscriptions. The company, however, reported a big quarterly loss despite its U.S. direct-to-consumer (DTC) segment turning a profit for the first time ever. Details of the Earnings Report According