With its dominance gashed by lower-priced competitors led by Dollar Shave Club, which was acquired last year by Unilever, Procter & Gamble's Gillette brand yesterday announced several new products aimed at both men and women including two new razors that are - gasp! - cheaper than its existing lines.
In a blending of work and free-time, WeWork Cos. announced yesterday that it is acquiring Meetup, the 15-year-old online social networking service that facilitates gatherings worldwide for book lovers, first time moms, the cross-gender community, pickup soccer players, urban farmers and just about any other pursuit that people undertake in common. Both organizations are based in Manhattan.
As yet another scandal unfolded at Wells Fargo yesterday, two contenders for the temporary leadership of the Consumer Financial Protection Board asserted their right in federal court to lead the agency set up to protect consumers from fraud perpetrated by banks and Wall Street.
As Thanksgiving, Black Friday, Small Business Saturday, Monikerless Sunday and Cyber Monday blend in one long singularity of bargain hunting both in-store and online - at big boxes, pop-ups and everything in between - the gut feel seems to be that we're at the tail end of a record spending spree this morning. The National Retail Federation will issue its report on the weekend's spending data tomorrow. But the way those sales are registered is changing.
Meg Whitman, the CEO who led the split of Hewlitt Packard into two companies in 2015, is stepping down as president of Hewlett Packard Enterprise in February after six years of leading the technology company through its difficult transition. HPE president Antonio Neri, 50, a more technically oriented executive at the Silicon Valley pioneer, will succeed her.
The future of transportation, as improbable as it still sometime seems, is now in contract form. Uber has signed a deal worth an estimated $1.4 billion to purchase up to 24,000 Volvo XC90 SUVs between 2019 and 2021 that will tool around towns with no drivers aboard.
Small Business Saturday, which is sandwiched in between the big retailers' upcoming - and seismically larger - Black Friday and Cyber Monday events, continues to gain traction in its eighth year of promoting shops on Main St. It also has been a bright success in the midst of some challenging years for American Express, which launched the program in 2010 with the last recession in full bloom.
Small Business Saturday, which is sandwiched in between the big retailers' upcoming - and seismically larger - Black Friday and Cyber Monday events this week, continues to gain traction in its eighth year of promoting shops on Main St. It also has been a bright success in the midst of some challenging years for American Express, which launched the program in 2010 with the last recession in full bloom.
The wobbly bricks-and mortar sector took another hit broadside yesterday as The Bon-Ton Stores announced that its third quarter comparable store sales decreased 6.6% and it will be closing 40 stores in the coming year, although it did not specify where or which ones.
Richard Cordray, the former Ohio treasurer and attorney general who has served as the only director of the Consumer Financial Protection Bureau, announced yesterday that he'd step down by the end of the month, "clearing the way for President Trump to remake a watchdog agency loathed by Republicans and Wall Street" as Renae Merle puts it in the "Washington Post."