Wal-Mart is raising minimum wage to $11 and dishing out a one-time bonus for employees, citing the Trump Tax Reform plan. Karen Short, Managing Director at Barclays, was with us to discuss the ramifications of the decision.
Short estimates that Wal-Mart could generate $4 billion in incremental free cash flow due to the tax reform, and adds that the wage hike is just of portion of the allocation. The analyst says that the "strong will get stronger" and other retailers will have to follow Wal-Mart's lead.
Tax reform narrows the advantage Amazon has over traditional retailers such as Wal-Mart, says Short. She says Wal-Mart has an advantage over Amazon because it is the largest grocer with low prices. Short also adds that the stigma surrounding Wal-Mart products has dissipated and is no longer a "turnoff" to millennials because the products have gotten better.
Spirit Airlines canceled about 100 flights on Friday after pulling some planes out of service for inspections, and the airline expects the disruptions to last several days.
CVS Health is pulling from its shelves some cough-and-cold treatments that contain an ingredient that has been deemed ineffective by doctors and researchers.
It's almost that time of year - it's open enrollment season. Nate Black, vice president of health solutions product development with Voya Financial, joined Cheddar News to explain the critical decision-making needed when choosing the best coverage for you and your family.
Tesla raised the price of its Model X plaid all-wheel drive model here in the U.S. by about 5.5%.
Elon Musk announced two new subscription tiers for people who want the premium experience. This, as some users in some countries may have to pay a very small fee to access the platform for more. Cheddar News' senior reporter Michelle Castillo explains.
A U.S. homebuyer must earn just over $114,000 to afford an average-priced home, according to a report from Redfin.
Several companies, including American Express, First Bancorp and Comerica, posted earnings Friday.
New research from Zillow finds more and more couples are adding a home fund to their wedding registries to help them buy their first home.
Rite Aid is set to close more than 100 stores with efforts currently underway to try to sell dozens of stores across a dozen states.
Social media platform X will soon have two new paid subscription tiers.
