Business

Texas Attorney General Ken Paxton on Monday announced an investigation into Shein and whether the fast-fashion retailer violated state laws related to unethical labor practices and the sale of unsafe consumer products.Paxton said that the investigation into Shein will determine whether the retailer's supply chain and manufacturing practices violate Texas state laws about the use of toxic and hazardous materials, mislead consumers about product safety and mislead consumers about ethical sourcing. It also […]

Elon Musk’s Tesla took a hit from "Big Short" investor Michael Burry, who claimed the electric vehicle maker is "ridiculously overvalued" just days after voicing concern about the market’s AI boom."Tesla's market capitalization is ridiculously overvalued today and has been for a good long time," Burry wrote in his Substack newsletter "Cassandra Unchained" on Sunday, Reuters reported.Burry further calculated that Tesla reduces existing shareholders’ stakes by roughly 3.6% annually through […]

Newell Brands will close 20 Yankee Candle stores across North America beginning in January as part of a plan to streamline the brand’s retail footprint.The closures, which account for roughly 1% of brand sales, are part of the company's broader optimization plan to align its footprint with "modern consumer shopping behaviors and supports its multi-channel growth strategy." Michael Kittredge started Yankee Candle in 1969 and opened its first official store four […]

Elon Musk said in a new interview that he thinks robotics powered by artificial intelligence (AI) driving productivity gains and output are the only way to address the more than $38 trillion national debt.Musk said in a podcast interview on "A Different Conversation with Nikhil Kamath" released Sunday that the widespread deployment of AI and robotics are the only ways to address the large and growing national debt. "I think that's pretty […]

Goldman Sachs said on Monday it will buy active exchange-traded fund sponsor Innovator Capital Management in a cash-and-stock deal worth about $2 billion, as the Wall Street bank seeks to expand in one of the fastest-growing asset management segments.Active funds have regained lost ground in the last few years as investors favor a more hands-on approach following lower returns from passively managed index products amid tighter monetary policy.Global assets in […]

Hundreds of thousands of outdoor camping stoves sold at Walmart are being recalled after several units reportedly exploded, causing second-degree burns.The Consumer Product Safety Commission (CPSC) warned in a notice published last week that the Ozark Trail Tabletop 1-Burner Butane Camping Stoves could explode or catch fire, posing burn and fire hazards to consumers. About 201,000 products were included in the recall.Prior to the recall, the manufacturer, China Window Industry […]

There is no war on Christmas this year, according to one of President Donald Trump’s senior economic advisors, who touted strong consumer spending during the holiday shopping season’s biggest days."The fact is that we just had the best Black Friday that we've ever seen. And it's not just because people are out there taking debt on their credit cards, it's because incomes are way up under President Trump," National Economic […]

Google CEO Sundar Pichai warned Sunday that the U.S. must "get the balance right" on artificial intelligence (AI) regulation or risk falling behind China.In an interview on "Fox News Sunday" with Shannon Bream, Pichai noted that more than 1,000 AI-related bills currently moving through state legislatures could create confusing rules that make it harder for U.S. companies to compete globally."How do you cope with those varied regulations, and how do […]

National Economic Council Director Kevin Hassett said Sunday he would be "happy to serve" if selected as the next Federal Reserve chair, signaling his openness to succeeding Jerome Powell."President Trump has a whole bunch of great candidates, and I think any one of them would be a big trade-up from where we are," Hassett said on "Fox & Friends Weekend."He added that markets have responded positively as the president nears […]