Normally a liquidation the size of Bed Bath & Beyond would be terrifying for retail landlords — but this time looks different.
Why it matters: The retailer's liquidation is one of the three biggest going-out-of-business sales of the last 15 years, rivaled only by the 2008 demise of Circuit City and the 2018 fall of Toys "R" Us.
The voicemail might be dead, but the quick little audio note is thriving.
Why it matters: People can increasingly drop quippy or professional self-recorded files on apps for work, dating and other personal comms, which many senders and recipients feel builds better connections.
Clubhouse, the audio app that captivated Silicon Valley during COVID lockdowns, on Thursday announced that it is laying off just overhalf of its employees.
What to know: CEO Paul Davison tweeted that the move was about forming a smaller team focused "relentlessly on product," rather than because of the economic environment.
BuzzFeed plans to significantly increase the amount of content it produces via independent internet creators, CEO Jonah Peretti told Axios in an interview.
Why it matters: The shift will allow BuzzFeed to produce more with a smaller headcount, while also leaning into new internet trends.
Federal Reserve chair Jerome Powell believed he was speaking with Ukranian President Volodymyr Zelensky earlier this year, but it turned out to be a hoax, a spokesperson for the Fed confirmed.
Why it matters: Powell joins a list of officials pranked by a duo of Russian pranksters, including European Central Bank president Christine Lagarde and former Germany prime minister Angela Merkel. The incident, first reported by Bloomberg, raises questions about security protocols.
At first glance, first-quarter gross domestic product numbers look grim: The economy expanded at a 1.1% annualized pace — a big slowdown from growth rates seen in the second half of 2022.
Yes, but: The underlying details look more encouraging.
Karen Bartuch oversees brand marketing and communications at SpotHero, the Chicago-based tech company that connects drivers to open and affordable parking spots.
Why it matters: Bartuch is focused on turning SpotHero into a verb — similar to the way consumers use 'Googled' and 'Airbnb-ed'.
Driving the news:The Container Store and Big Lots are temporarily offering a discount for bringing in the bankrupt home goods chain’s iconic blue coupons.
The U.S. economy grew at a 1.1% annual rate in the first quarter, a notable slowdown from the previous three months, the Commerce Department said on Thursday.
Why it matters: The nation started the year with less economic momentum than anticipated. It's the latest sign that the Federal Reserve's campaign to cool economic activity is taking hold.
Companies are posting fewer job listings, especially for white-collar roles in software, human resources, and banking and finance, per new data from Indeed.
Why it matters: It's a sign of how the job market is slowing down a bit for higher wage earners and the professional class.
The mortgage rate shock has refocused homebuilders' attention on an underserved segment — the first-time homebuyer.
Why it matters: Since the mid-2000s housing boom ended with a disastrous financial crisis in 2008, builders have mostly focused on larger, more expensive houses — the kind that are out of reach of entry-level buyers.
Americans retiring now are going it alone: They're the first generation to rely on private savings instead of pensions to navigate the financial vortex of retirement.
Why it matters: 401(k) plans and IRAs don't generate steady and predictable income like pensions or social security. The result is a feeling of perpetual insecurity, even among those who've amassed substantial savings.
Tucker Carlson has issued his first statement since being fired by Fox News, saying in a brief video message on Wednesday night that "true things prevail."
The publishers and top editors at the Wall Street Journal, Washington Post and New York Times on Thursday will run a joint letter as a full-page, color advertisement in all three of their papers urging support from the Biden Administration in fighting for the release of Wall Street Journal reporter Evan Gershkovich from a Russian prison.
Why it matters: Gershkovich is being held under espionage charges. The papers' leaders argue that "his detention is a loss not just for our individual publications but for the people of Russia and society at large."
