Governments and traders spent Monday assessing the energy fallout from the expanding war involving Iran, as disruption around the Strait of Hormuz renewed fears over one of the world’s most important oil corridors. Since the conflict began on Feb. 28, tanker traffic through the strait has largely stalled, raising concern that a prolonged interruption could restrict supply well beyond the…
The company that runs Eddie Bauer’s North American stores has filed for Chapter 11 bankruptcy protection, setting up a court-supervised process that could lead to a sale of the business or, failing that, a broader shutdown of its U.S. and Canadian retail operations. The filing was made in federal bankruptcy court in New Jersey, and the operator said it has…
Amazon shares fell about 11% in after-hours trading after the company outlined a sharp increase in investment spending, even as it reported strong fourth-quarter results. The Seattle-based company said it plans to increase capital spending by nearly 60% to about $200 billion in 2026, up from $128 billion a year earlier, as it targets growth opportunities in artificial intelligence, robotics,…
Two leading AI startups are bringing their competition into prime-time advertising as they try to convert consumer buzz into durable revenue. Anthropic is running two commercials during Sunday’s Super Bowl broadcast that take aim at the direction of rival OpenAI, according to The Associated Press. The ads from Anthropic focus on the risks of “manipulative” chatbot behavior by portraying overly…
The Washington Post says it is laying off one-third of its staff across all departments, a move that reaches well beyond the business side and into core news operations. During an all-staff Zoom meeting, executive editor Matt Murray told employees the changes amount to a significant restructuring intended to streamline the organization. Among the most prominent newsroom shifts, the Post…
PayPal said its board has decided to replace CEO Alex Chriss and appoint Enrique Lores, the current chief executive of HP Inc., as the company’s next president and CEO, with the change set to take effect on March 1. Ahead of that start date, Jamie Miller, PayPal’s CFO and COO, is expected to serve as interim CEO. The company also…
President Donald Trump said Friday he will nominate Kevin Warsh to become the next chair of the Federal Reserve, positioning a former central bank official to succeed Jerome Powell when Powell’s term ends in May 2026. The White House decision sets up a high-profile confirmation fight in the Senate and raises questions about how closely the Fed—designed to operate independently…
