Gap Inc. warned that new tariffs imposed by the U.S. government could impact its business by $100 million to $150 million if they remain in effect through the year. These tariffs include a 30% duty on Chinese imports and a 10% levy on goods from most other countries. Initially, the cost without mitigation efforts would…
Arthur T. Demoulas Suspension Sparks New Market Basket Power Clash as Board Cites Misconduct and Nepotism
Market Basket CEO Arthur T. Demoulas, widely known as “Artie T,” has been suspended by the company’s board amid an ongoing investigation into alleged misconduct. The board’s statement cites credible allegations that Demoulas planned a disruption of operations via a work stoppage. His children, Madeline and Telemachus, along with several other executives, were also placed…
Trump Pressures Powell for Rate Cuts as White House Meeting Rekindles Tensions Over Fed Independence
U.S. President Donald Trump summoned Federal Reserve Chair Jerome Powell to the White House for a face-to-face meeting—their first since Trump returned to office. The purpose of the meeting was to express Trump’s dissatisfaction with Powell’s stance on interest rates. Trump asserted that Powell was making a “mistake” by maintaining current rates and argued that…
Starship’s Ninth Flight Ends in Setbacks as SpaceX Pushes Forward with Reusability Goals
On May 27, SpaceX conducted its ninth test flight of the Starship spacecraft from its Starbase facility in Texas. The mission had dual goals: to deploy eight Starlink simulator satellites and to assess the spacecraft’s reentry system performance after deliberately removing 100 heat-shield tiles. The test was part of SpaceX’s ongoing efforts to develop a…
Abercrombie Stock Soars on Record Q1 Sales as Hollister Shines Despite Profit Forecast Cut
Despite slashing its full-year profit forecast, Abercrombie & Fitch saw its shares surge by over 15% after posting better-than-expected first-quarter results. The retailer reported earnings per share of $1.59, surpassing the $1.39 anticipated by analysts, and revenue of $1.10 billion versus the expected $1.07 billion. This revenue marked a record high for the first fiscal…
Macy’s Cuts Profit Outlook Amid Tariff Strain and Restructuring, But Beats Q1 Expectations
Macy’s reduced its full-year profit forecast for fiscal 2025, despite surpassing Wall Street’s expectations for first-quarter earnings. The company cited higher tariffs, increased promotional activity, and softer discretionary spending as reasons for the revised outlook. While earnings per share are now expected to fall between $1.60 and $2.00, down from an earlier projection of $2.05…
US military changes tone in Africa, urging allies to take greater responsibility for their own defense
The U.S. military is moving away from its usual focus on promoting good governance and addressing the root causes of insurgencies. Instead, it is now urging its fragile allies in Africa to be more self-reliant. This shift was clear during African Lion, the largest joint training exercise the U.S. conducts on the continent. “We need…
Violent ‘Wrench Attacks’ Rise as Crypto Wealth Makes Investors Targets for Real-World Theft
A chilling case involving an Italian man allegedly kidnapped and tortured in an upscale Manhattan townhouse underscores a growing threat in the cryptocurrency world—violent physical attacks aimed at stealing digital assets. The crime fits the profile of a so-called “wrench attack,” a term coined from an online comic that highlights how brute force can easily…
Delta Flight to Madison Delayed After Two Rogue Pigeons Spark Mid-Cabin Chaos and Passenger Panic
A Delta Airlines flight departing from Minneapolis-Saint Paul International Airport was thrown into chaos when two pigeons were found inside the aircraft’s main cabin. The unusual situation caused disruption and panic among passengers, as captured in videos shared on social media. Passenger Tom Caw was the first to notice a pigeon aboard the plane before…
Trump Pressures Apple to Shift iPhone Production to U.S. as Global Supply Chains Face Political Heat
In 2011, President Barack Obama questioned Apple CEO Steve Jobs about the possibility of bringing iPhone production back to the United States. Over a decade later, President Donald Trump has revived that demand, directing his attention to Apple’s current CEO, Tim Cook. Trump has threatened a 25% tariff on Apple and other smartphone makers unless…