prices

Peloton to slash 780 jobs and hike prices in push to turn profit

Peloton to slash 780 jobs and hike prices in push to turn profit

Peloton told employees Friday that it is slashing roughly 780 jobs, closing a significant number of its retail stores and hiking prices on some equipment in a bid to cut costs and become profitable.  The company did not specify how many of its 86 retail locations it plans to shutter, but said an “aggressive” reduction …

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Peloton gears up to hike prices, lay off 800 employees, and shutter stores

Peloton gears up to hike prices, lay off 800 employees, and shutter stores

Peloton CEO Barry McCarthy had his job cut out for him when he took over the helm in February as the company laid off 2,800 employees. Now, roughly six months later, McCarthy has sent out a memo to staffers warning the company plans to eliminate an additional 784 jobs in a third round of layoffs, …

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Oil tanker

Oil Prices Fall As Demand Concerns Persist | OilPrice.com

Crude prices fell on Friday morning, erasing some gains as traders remain cautious to go long on crude again. August 12th, This week has been quite tumultuous in the oil markets, starting off with a pervasive feeling of demand gloom yet recording a weekly gain in the end, greatly aided by flat US inflation data …

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Consumers still don't feel great about the economy, despite lower gas prices

Consumers still don’t feel great about the economy, despite lower gas prices

The nation’s collective outlook rose marginally this month, according to the latest University of Michigan Surveys of Consumers released Friday. The benchmark sentiment index rose to 55.1, up from 51.5 in July, after plummeting to a record low of 50 in June, when consumers were feeling buffeted by soaring inflation and $5-a-gallon gas. Gas prices …

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Peloton to Cut 800 Jobs, Hike Prices and Shut Stores in Sweeping Overhaul

Peloton to Cut 800 Jobs, Hike Prices and Shut Stores in Sweeping Overhaul

(Bloomberg) — Peloton Interactive Inc. will embark on a sweeping overhaul that includes cutting nearly 800 jobs, raising prices for its Bike+ and Tread machines, and outsourcing functions such as equipment deliveries and customer service to outside companies. Most Read from Bloomberg The changes, which the company disclosed Friday in a memo to employees, also …

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Disney CEO Bob Chapek says price hikes may hit Disney World, Disneyland again

Disney CEO Bob Chapek says price hikes may hit Disney World, Disneyland again

Disney World and Disneyland customers may soon be getting hit with another round of price hikes, according to Disney CEO Bob Chapek. After raising prices across Disney’s streaming services, including Disney+, Hulu and ESPN+, Chapek told CNBC that price hikes will likely hit the Mouse House’s popular theme parks next. “We read demand. We have …

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Fed expected to stick with hawkish rate hikes until data show further slowing in inflation

Fed expected to stick with hawkish rate hikes until data show further slowing in inflation

The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the U.S. could be easing, according to market strategists. On Thursday, the producer price index surprisingly fell 0.5% in July from the prior month, compared with an estimate of a 0.2% gain, according to …

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Home prices hit a new record high in the second quarter

Home prices hit a new record high in the second quarter

The median single-family existing home price in the second quarter was $413,500 — the first time this quarterly price has ever risen above $400,000, according to the latest quarterly report from the National Association of Realtors. Home prices for the quarter were up 14.2% from a year ago, slightly slower than the 15.4% year-over-year price …

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Stocks soar, S&P 500 hits highest level in three months after key report shows slowdown in inflation

Stocks soar, S&P 500 hits highest level in three months after key report shows slowdown in inflation

Disney stock pops on earnings beat, price hike Stocks close near highs of the session The major averages closed near their session highs, with the Dow up 535 points, or 1.6%. The S&P 500 gained 2.1% and the Nasdaq Composite rose 2.9%. The small-cap Russell 2000 soared nearly 3%. -Jesse Pound Volatility Index quiet into …

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Airfares, hotel rates and rental car prices fell in July. Here’s how you can score a good deal

Airfares, hotel rates and rental car prices fell in July. Here’s how you can score a good deal

Fluxfactory | E+ | Getty Images Travelers saw prices fall for big-ticket pieces of their vacation budgets in July, offering at least a temporary reprieve after soaring costs earlier this year. Airfares fell nearly 8% from June to July, while prices for rental cars and lodging such as hotels declined 9.5% and about 3%, respectively, …

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