Business

Safeway is closing additional stores as parent company Albertsons Companies reassesses its retail footprint following the collapse of its proposed $24.6 billion merger with Kroger.Albertsons told USA Today that the company had slowed its potential "portfolio optimization" efforts while the Kroger transaction was pending, then resumed evaluating its store network after the deal fell apart. That process has included opening stores in areas where the company sees long-term demand while […]

Rebel Creamery has filed for Chapter 11 bankruptcy protection in Utah, reporting approximately $13.78 million in assets and $23.85 million in liabilities as it appeals a $23.785 million judgment awarded to rival Van Leeuwen Ice Cream in a trade-dress dispute.Rebel ice cream is sold at Walmart, Kroger, Safeway and other grocery stores nationwide.Rebel Creamery LLC filed for Chapter 11 protection on Aug. 14 in the U.S. Bankruptcy Court for the […]

Mark Cuban told Rep. Ro Khanna, D-Calif., that he doesn't "understand business" during a heated clash over California's proposed 5% billionaire wealth tax, warning it could drive startup founders and investors out of the state.The exchange centered on California's Proposition 40, a controversial ballot measure that would impose a one-time 5% wealth tax on residents with more than $1 billion in assets.The measure has been endorsed by the California Democratic […]

Waymo announced Friday that it is expanding its autonomous ride-hailing business across Northern and Southern California, including into two new major markets.The Alphabet-owned company said it plans to scale up its existing services across the San Francisco Bay Area and Los Angeles while bringing its robotaxi service to Sacramento and San Diego.The announcement comes after the California Department of Motor Vehicles authorized Waymo to operate in the additional areas last […]

Harvard University’s investment arm disclosed a $2.2 billion stake in SpaceX, revealing a massive payoff from an early investment in Elon Musk’s rocket company following its blockbuster public debut.Harvard Management Company reported the position in a regulatory filing Friday, making SpaceX the largest individual stock holding disclosed in its $4.3 billion portfolio of U.S. equities.The investment highlights how SpaceX’s record-setting June initial public offering delivered significant gains for university endowments […]

Nearly one in four American workers with employer-sponsored health insurance say they are stuck in jobs they want to leave because they fear losing coverage.About 24% of U.S. workers with job-based insurance – roughly 23 million adults – are experiencing "job lock," up sharply from 16% in 2021, according to a report from the West Health-Gallup Center on Healthcare in America.The survey defines job lock as remaining in a job […]

On a quintessential Beverly Hills street in 1985, a restaurant that would help transform the pizza industry opened its doors.After years of practicing law as federal prosecutors and criminal defense attorneys, co-founders Rick Rosenfield and Larry Flax chose to leave the courtroom behind to pursue their dream of becoming restaurateurs."We didn't want to open just a restaurant. We decided to be bold. We said we want to open a national […]

Weeks after a recall was issued for more than 1.5 million cartons of one dozen eggs due to the risk of salmonella, the U.S. Food and Drug Administration has upgraded the recall to the highest risk level.On Wednesday, the recall was moved up to a Class I, which signifies "a situation in which there is a reasonable probability that the use of or exposure to a violative product will cause […]

The Office of the Comptroller of the Currency (OCC) on Friday granted preliminary conditional approval for a national trust bank tied to World Liberty Financial, a crypto venture partially owned by President Donald Trump's family.The decision, announced in a letter posted on the OCC's website, advances World Liberty Financial's plans to establish a national trust bank focused in part on issuing and managing the USD1 stablecoin.World Liberty Trust Company, National […]