Edgar Bronfman Jr.'s offer for a controlling stake in Paramount Global could keep Shari Redstone close to the company, if his bid is successful. Bronfman is open to having Redstone, currently non-executive chairman at Paramount, remain involved with the company if the Paramount special committee accepts his consortium's bid for...
FDA approves updated Pfizer, Moderna Covid vaccines as virus surges; shots to be available within days
Pfizer COVID-19 vaccine. Courtesy: Pfizer The Food and Drug Administration on Thursday approved updated Covid vaccines from Pfizer and Moderna, putting the new shots on track to reach most Americans in the coming days amid a summer surge of the virus. The jabs target a strain called KP.2, a...
Target shares spike as profits rise, despite cautious sales outlook
Target said Wednesday that sales grew about 3% in its fiscal second quarter, a return to growth after a prolonged stretch of sluggish sales and squeezed profits. The discounter beat Wall Street's earnings and revenue expectations, as shoppers made more visits to Target's stores and website, and bought more discretionary...
Shein sues Temu over copyright infringement, alleges rival loses money on every sale
Shein and Temu. Yuki Iwamura | Bloomberg | Stefani Reynolds | AFP | Getty Images Chinese-linked fast-fashion giant Shein is suing rival Temu, alleging the retailer stole its designs and built an empire using counterfeiting, intellectual property infringement and fraud. The suit, filed Monday in Washington, D.C., federal court,...