Allstate said the wildfires that blazed through Southern California last month will bring the insurance company a sizable loss. CEO Tom Wilson said in a statement Wednesday that the wildfire-related losses are “expected to be about $1.1 billion, pre-tax, net of reinsurance, reflecting a decision to reduce market share beginning in 2007 and a comprehensive

Ford Motor Co. announced its fourth-quarter earnings this week, and while they came in above expectations, the Detroit automaker signaled the losses in its electric vehicle (EV) division are projected to continue this year. Ford reported that its EV division, known as Model e, lost $5.1 billion in 2024. In its full-year outlook for 2025, Ford

Nissan and Honda responded on Wednesday to reports that a potential merger of the companies could be at risk of being abandoned. The Wall Street Journal, citing people familiar with the matter, reported that Nissan was weighing backing out of the memorandum of understanding with Honda and other options after the company found terms put

Daniel Penny, who in December was acquitted of criminally negligent homicide for a chokehold in response to a man’s violent outburst of death threats against other riders on a New York City subway car, has reportedly landed a role with an investment firm in Silicon Valley to “learn the business of investing.” The Free Press reported

Estee Lauder announced on Tuesday that it plans to slash up to 7,000 positions from its workforce.  The cosmetics company said it will eliminate a net of 5,800 to 7,000 roles as it unveiled an updated “profit recovery and growth plan” and released its second-quarter financial results on Tuesday. The number of affected positions, up

-Stocks wrapped up a winning January, despite ending the Friday session lower as investors digested a fresh inflation report  -President Trump dialed up his tariff plan, promising some weekend action against Canada and Mexico -The FAA and NTSB continue the probe of the tragic American Airlines jet crash with a Black Hawk helicopter in Washington,

Shares of Trump Media, the parent of social media app Truth Social, surged on Tuesday after announcing plans to expand into financial services. The company’s stock climbed as much as 17% in premarket trading on the news. Trump Media said in a press release that its board approved an investment of up to $250 million

Target’s decision to scale back its diversity, equity and inclusion (DEI) programs is being met with backlash from the LGBTQ+ community on the Minneapolis-headquartered retailer’s home turf. Target announced Friday that it will implement some changes to its “Belonging at the Bullseye” strategy, including ending its three-year DEI goals and ending its Racial Equity Action

America’s AI race among U.S. tech titans got suckered after Chinese AI app DeepSeek crashed onto the scene, sending investors into reverse.   The tech-heavy Nasdaq Composite nearly erased its gains for the year, falling 3% on Monday.  DeepSeek’s model appears able to match the capability of chatbots like OpenAI’s ChatGPT and Meta’s Llama but

Target’s decision to scale back its diversity, equity and inclusion (DEI) programs is being met with backlash from the LGBTQ+ community on the Minneapolis-headquartered retailer’s home turf. Target announced Friday that it will implement some changes to its “Belonging at the Bullseye” strategy, including ending its three-year DEI goals and ending its Racial Equity Action