Business

Bath & Body Works has chosen a former Nike executive to become its new CEO.The company said Monday that Daniel Heaf, Nike’s former chief strategy and transformation officer, has taken over the CEO role at Bath & Body Works effective immediately. "I am honored and energized by the opportunity to lead Bath & Body Works into its next chapter of growth," he said in a statement. "Bath & Body Works has […]

White House press secretary Karoline Leavitt on Monday detailed a provision of President Donald Trump's "big, beautiful bill" that would codify "MAGA" savings accounts for new parents.The 1,116-page legislative package that would make the Trump 2017 tax cuts permanent by 2026 and enact several other campaign promises narrowly passed out of the key House Budget Committee in a Sunday night vote. House Speaker Mike Johnson, R-La., is continuing negotiations with […]

A 100-point drop in a credit score can be "absolutely catastrophic."It can also take years to recover from, according to LendingTree chief credit analyst Matt Schulz. The Federal Reserve Bank of New York reported last week that millions of student loan borrowers saw substantial declines in their credit standing because of missing a payment, hurting their chances of qualifying for new auto, mortgage and credit cards. Specifically, 2.2 million student loan borrowers, […]

Treasury Secretary Scott Bessent downplayed the impact of Moody's downgrading the U.S. government's credit rating in an interview on Sunday.Moody's Ratings on Friday downgraded the U.S. credit rating by one notch, from the highest tier Aaa to Aa1, citing concerns over the rising national debt and widening budget deficits. Bessent was asked about the downgrade in an appearance on NBC News' "Meet the Press" and said the downgrade was mainly in response to the […]

White House National Economic Council Director Kevin Hassett says an economic "liftoff" could be on the horizon – as the promise of trade deals, upcoming clarity on tax cuts and promising job numbers set the stage for a major turnaround. "There are going to be a lot of trade deals and there's going to be clarity on the tax cuts and then firms are going to lift off," he told FOX […]

Regeneron Pharmaceuticals announced on Monday that it will acquire "substantially all" of genetic testing company 23andMe's assets.The pharmaceutical company said it won the court-supervised auction of the genetic testing company, with Regeneron agreeing to pay $256 million for the assets. 23andMe underwent the auction as part of the Chapter 11 bankruptcy protection it filed in March to facilitate a sale of its business.In its bankruptcy petition, the company had estimated […]

Sean Connery's longtime home in Europe is looking for its new owner.The late "James Bond" actor's villa in the South of France has hit the real estate market for $26.4 million, and is listed with Savills.Featured in some scenes in the 1983 Bond film "Never Say Never Again," the home reportedly is still affectionately referred to as "Sean's place" or the "Bond Villa," by locals. Found at the edge of a […]

Walmart is going to absorb the cost of some tariffs, Treasury Secretary Scott Bessent said on Sunday after speaking with the company’s CEO in the wake of President Donald Trump’s warning that the retail giant should "eat the tariffs."Bessent detailed his conversation with Walmart CEO Doug McMillon during an appearance on CNN’s "State of the Union," when he was asked about Trump’s social media post warning the company against raising […]

FRANCE: After four decades of Denmark’s ban on nuclear power, the country is now considering reversing its anti-atomic stance. And that move may be part of a big change in how electricity gets generated in Europe. The Danes took note of the massive power outage last month that cut off electricity for the whole of Spain and neighboring Portugal plus some of southern France. The problem was that there was no […]