Target predicted a gloomy second-quarter forecast as consumers pull back from non-essential purchases such as electronics and home goods, due to inflation. However, the retailer maintained its full-year profit expectations as total sales rose 0.5 percent, in its May 17 quarterly earnings report. The company’s poor forecast follows poor numbers from Home Depot, which is predicting…
Target Predicts Over $1 Billion in Losses From Theft, Forecasts Gloomy 2nd Quarter as Consumers Pull Back
UBS Says Its Rescue of Credit Suisse Was a Rushed Deal With Unclear Risks
Switzerland’s biggest bank UBS said that it was unable to carry out a comprehensive assessment of the assets and liabilities of Credit Suisse as it was pushed by regulators to take over its beleaguered rival in a rushed rescue to stem financial contagion and prevent a systemic meltdown. UBS said in May 16 regulatory filings with…
Kaitlan Collins Promoted to Prime Time After Hosting CNN’s Trump Town Hall
The CNN journalist who hosted a town hall with former President Donald Trump has scored a prime-time slot, CNN executives said on May 17. Kaitlan Collins will host a show at 9 p.m. Eastern, in the middle of prime time, CNN executives said at Warner Bros. Discovery Upfront, an event with advertisers. “In her new program,…
Musk Says He’s Not Stepping Down as Tesla CEO, Tells Shareholders the Company Will Advertise
Elon Musk on Tuesday dismissed speculation that he might step down as Tesla’s CEO and told the company’s annual shareholders meeting that the electric car and solar panel company would start doing some advertising. “Say it ain’t so,” one shareholder asked Musk about stepping down as Tesla’s leader. “It ain’t so,” he replied without further…
Miller Lite Boycott Calls Grow Over ‘Woke’ Beer Advertisement
Miller Lite is facing a growing backlash over an advertisement that appears to apologize for imagery of women clad in bikinis in beer commercials that some social media influencers say is a “woke” ad campaign. “Women were among the very first to brew beer, ever,” actress Ilana Glazer said in the expletive-laden advertisement that showed…
Retail Sales Come in Below Expectations After 2 Months of Declines
U.S. retail sales rose slightly in April but fell below expectations after two months of declines. Retail sales are primarily goods and are not adjusted for inflation, while changes in the category are widely followed as an indicator of consumer spending. Last month’s overall retail sales rose 0.4 percent last month at $686.1 billion, instead…
Fox News Responds to Rumors of ‘Ambitious’ New Schedule After Tucker Carlson Exit
A Fox News spokesperson responded to rumors and reports claiming that the network is slated to make sweeping changes to its primetime lineup, including one asserting that Sean Hannity will take over the 8 p.m. ET timeslot after Tucker Carlson’s sudden exit last month. “No decision has been made on a new primetime line-up and…
Musk Warns There’s a Chance AI ‘Goes Wrong and Destroys Humanity’
May 17, 2023
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Tesla CEO Elon Musk has issued yet another warning about the potential dangers of artificial intelligence (AI)—namely, that it could destroy humanity. In a May 16 interview with CNBC anchor David Faber, the tech tycoon noted that the future of AI could go one of two ways. “There’s a strong probability that it will make…
Maryland Public School Sues Social Media Companies For Sparking Mental Health Crisis
May 17, 2023
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A Maryland public school board said it is filing a legal claim against Facebook, Instagram, TikTok, Snapchat, and YouTube, for negatively affecting the mental health of young students. Prince George’s County Public Schools (PGCPS) filed a nearly 200-page lawsuit against the social media companies for allegedly targeting children with apps that were designed to be addictive,…
Ford Recalls 310,000 Trucks to Fix Problem With Driver’s Front Air Bag
DETROIT—Ford is recalling more than 310,000 trucks in the United States because the driver’s front air bag may not inflate in a crash. The recall covers certain F-250, F-350, F-450, and F-550 Super Duty trucks from the 2016 model year. The company says dust can accumulate in a cable inside the steering wheel, interrupting the…
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