Whole Foods Union Faces Tough Task to Secure Contract With Amazon
Welcome to Tech In Depth, our revamped daily newsletter with reporting and analysis about the business of tech from Bloomberg's journalists around the world. Today, Spencer Soper writes that the union election at a Whole Foods store in Philadelphia isn't likely to produce a contract for the workers with Amazon soon.
New Sony CEO: Sony is promoting CFO and President Hiroki Totoki to its top post, effective April. It's more continuity than change, as Totoki is already responsible for operations and strategy, and together with outgoing CEO Yoshida has pushed the company toward acquiring more content and entertainment rights.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
17 minutes ago
- Bloomberg
From the Hamptons to JFK in An All-Electric Plane
Beta Technologies flew its fixed-wing, electric aircraft from the Hamptons to JFK Airport for the first time recently. While just a demonstration for now, Beta is hoping to gain certification for its electric aircraft by Technologies CEO Kyle Clark joined Bloomberg Open Interest to talk about the future of electric aviation. (Source: Bloomberg)
Bloomberg
27 minutes ago
- Bloomberg
Portfolio Construction Has Never Been This Hard: Reiner
JPMorgan Investment Management head of US equity derivatives, Hamilton Reiner, says portfolio construction has become difficult in the current market. The JPMorgan Equity Premium Income ETF (ticker: JEPI) is the largest active ETF by assets. Reiner speaks with Scarlet Fu, Katie Greifeld, and Eric Balchunas on "Bloomberg ETF IQ." (Source: Bloomberg)
Yahoo
32 minutes ago
- Yahoo
Citi to Set Aside More Money for Potential Losses on Loans
(Bloomberg) — Citigroup Inc. (C) is set to put aside hundreds of millions of dollars more than it did last quarter to account for potential losses on loans and credit cards, an early sign that the biggest US banks may be bracing for deteriorating consumer health. Trump Said He Fired the National Portrait Gallery Director. She's Still There. NYC Mayoral Candidates All Agree on Building More Housing. But Where? Senator Calls for Closing Troubled ICE Detention Facility in New Mexico California Pitches Emergency Loans for LA, Local Transit Systems 'Given the macro environment, etc., cost of credit compared to last quarter, we expect to be up a few hundred million,' Vis Raghavan, Citigroup's head of banking, said Tuesday at a conference hosted by Morgan Stanley (MS). The figures laid out by Raghavan, also executive vice chair at Citigroup, point to a more cautious approach than some analysts had forecast for this quarter. Estimates suggest a decline in both provisions for loan losses and net charge-offs compared with the previous three months, according to the consensus of more than a dozen analysts compiled by Bloomberg. The bank's provisions for credit losses — which typically cover losses recognized in the period and any building of reserves for the future — totaled $2.72 billion in the first quarter, while the analyst consensus for the second quarter is down slightly — to $2.69 billion. Shares of Citigroup rose 0.4% to $77.88 at 10:32 a.m. in New York. They're up 11% this year. Citigroup is one of the largest retail banks in the US, serving millions of clients in its home market, though is tilted toward consumers with higher credit scores. It also has a small private bank and growing wealth-management arm. Raghavan said he was still reassured by his company's broader credit exposure, particularly its book of corporate clients. 'We still have a few more weeks to go in this quarter, but on the credit overall, I'm incredibly reassured of the quality,' Raghavan said, noting that about 80% of the bank's corporate exposure is to high-grade issuers — a percentage that's even higher outside of the US. Economists are cautiously watching the outlook for US consumers as the country manages the impact of uncertainty around President Donald Trump's tariffs and his upcoming tax bill, which is working its way through Congress. Figures released earlier Tuesday suggested sentiment among small business rose in May for the first time this year. In trading, Citigroup's equities and fixed-income desks have both been strong, and the bank expects an increase in revenue in the mid- to high-single-digit percentage compared with the second quarter of last year, Raghavan said. Investment-banking fees are set to be up in the mid-single digits, he added. —With assistance from Jenny Surane. (Updates with shares in fifth paragraph, consumer outlook in ninth.) New Grads Join Worst Entry-Level Job Market in Years The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling What America's Pizza Economy Is Telling Us About the Real One Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again American Mid: Hampton Inn's Good-Enough Formula for World Domination ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
