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New York City Mayor Zohran Mamdani has thrown down an ultimatum, threatening to raise property taxes by nearly 10% as a way to lobby Governor Kathy Hochul for more funding.
The Bank of Canada issued an order to temporarily stop financial technology company XTM Inc. from handling retail payments, alleging it failed to safeguard client funds and caused a “significant shortfall.”
Gold was little changed after a two-day decline, with many Asian markets offline for the Lunar New Year holiday.
Oil held a decline after positive talks between the US and Iran over the OPEC member’s nuclear program, paring crude’s risk premium.
The move, while not unexpected, will allow Western Digital to bolster its balance sheet and reduce debt.
New CEOs often arrive with a mandate to turn a company around. Walmart’s John Furner is taking the helm with another daunting challenge: coming in at a high point. The world’s largest retailer is seeing strong growth from newer, wealthier customers and is benefitting from success in e-commerce, contributing to the big box giant's recent rally that pushed its market capitalization past $1 trillion. Dana Telsey, Founder, CEO and Chief Research Officer of Telsey Advisory Group, joins Bloomberg Businessweek Daily to discuss. She also weighs in on the state of the US consumer, brand loyalty and discretionary spending patterns, who is winning customers in the athleisure space, and more. Telsey speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)
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