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Starbucks will end the year with fewer stores and fewer employees. But the brand maintains that it’s all part of a greater turnaround still in the mix. Today, the company announced that its North American store locations will be reduced by 1% for fiscal 2025—landing the coffee chain at 18,300 stores total. And it will be eliminating 900 jobs outside of its coffee houses (in other words, corporate and other functions). The company claims it will attempt to place affected baristas into new stores, but Starbucks says, “For those we can’t immediately place, we’re focused on partner care including comprehensive severance packages. We also hope to welcome many of …

Investors are celebrating a major shake up in how FICO scores will be shared with mortgage lenders, as shares of parent company Fair Isaac have rallied more than 20% on Thursday. That stock rally follows FICO’s announcement on Wednesday of a new pricing model that will allow mortgage lenders to calculate and distribute credit scores directly to borrowers, thereby eliminating the need to rely on the three nationwide credit bureaus for this information. In addition to its legacy pricing model, lenders can now opt for a direct license option that will save them up to 50% on per-score FICO fees. The FICO score is one of a few different credit scoring models that help …

If you handle hiring, generic AI-generated cover letters are probably a familiar foe by now. Nearly two-thirds of job seekers are using AI to help craft their applications. It’s understandable. In a world where some job seekers are having to send up to 50 applications to land a role, tools like ChatGPT enable them to cast their net wide and increase their chances. But this spray-and-pray approach to job hunting is a headache for hiring managers. It’s driving the volume of applications up and the quality down, making it harder to spot great candidates. The natural knee-jerk reaction from HR is to start playing a game of “I spy AI.” If we can just root out the …

The U.S. Space Force on Friday announced it will assign five of seven critical military missions for the coming fiscal year to Elon Musk’s SpaceX. The awards are a $714 million boon to SpaceX, underscoring the company’s continued dominance over Pentagon space contracts, despite Musk and U.S. President Donald The President’s public falling out earlier this year. United Launch Alliance (ULA) will undertake the two other launches; it was awarded $428 million for two launches, according to a press release viewed by Space News. SpaceX pulls ahead on Pentagon launches The awards are made under the National Security Space Launch Program, which earlier this year selec…

While most museums have some kind of store—a place to buy a postcard or mug and help their respective institutions squeeze a few more bucks from its visitors—few are actually outstanding places to shop. The notable exception is MoMA. The MoMA Store has become a brand in and of itself to the point where there are shoppers who know the acronym and logo but not necessarily the history behind them. And while retail has helped MoMA gain name recognition, the museum wants it to become a more effective ambassador for the flagship art institution. The recent renovation of MoMA’s SoHo design store, which recently reopened after months of renovations, exemplifies this new appro…

Everlane made waves for being among the first brands to eradicate virgin plastic from its supply chain. In 2019, after years of work, the startup managed to switch out new plastic with recycled plastic, largely made from discarded water bottles. It began incorporating them into jackets and fleece sweaters and bodysuits. It was a big step towards sustainability, since recycled polyester has a lower carbon footprint and diverts plastic from landfills. In the years that followed, many other brands on the market—from H&M to Prada—followed in Everlane’s footsteps, but it didn’t solve the bigger problem of what happens when people decide to get rid of their recycled ga…

Our second annual Ignition Schools awards recognizing the colleges and universities shaping future entrepreneurs and innovators arrives at a crucial crossroads for higher education. On one hand, artificial intelligence has caused us to rethink assumptions about how far and how quickly technology can improve our society and our lives. On the other hand, a storm of skepticism brewing in a sea of disinformation has dimmed the view of many toward college educations, which some have also accused of being politically indoctrinating. That has led to unprecedented attacks on university research funding at a time when core research is needed to develop advanced solutions in such f…

Matchmaking is an ancient dating process that stretches back thousands of years. But as online dating fatigue has begun to dominate the modern-day discourse around finding love, one company is betting that matchmaking will see a revival, and they’ve spent years developing a tool to make it happen: an AI matchmaker named Tai. One might argue that all modern dating apps aim to serve as a kind of matchmaker; an intermediary whose purpose is to connect two singles with each other. But Adam Cohen-Aslatai, CEO of the matchmaking company Three Day Rule, says dating apps still put the onus on users to choose the right partners based on what the algorithm serves. In contrast, …

Social Security Administration Commissioner Frank Bisignano was named to the newly created position of CEO of the IRS on Monday, making him the latest member of the The President administration to be put in charge of multiple federal agencies. As IRS CEO, Bisignano will report to Treasury Secretary Scott Bessent, who currently serves as acting commissioner of the IRS, the Treasury Department says. It is unclear whether Bisignano’s newly created role at the IRS will require Senate confirmation. The Treasury Department said in a statement that Bisignano will be responsible for overseeing all day-to-day IRS operations while also continuing to serve in his role as commissio…

Gold has been having a very good year. That sentiment couldn’t have been clearer on Tuesday, October 7, as the precious metal hit a new milestone: $4,000 an ounce. As of early Wednesday, gold was up over 53% year to date. That’s significantly higher than the growth seen by major stock indexes over the same period The Dow Jones Industrial Average is up 9.93% this year, the S&P 500 is up 14.42%, and the Nasdaq Composite is up 18.19% as of the market close on Tuesday. As a so-called safe-haven asset, gold has benefited from a few things this year, including a weakened dollar and an unpredictable economy. The latter has been especially true since the…

With no end in sight to the political impasse in Washington that has shut down the government, the U.S. IPO market is expected to experience a significant slowdown just as it was beginning to show signs of life again. Some companies are nevertheless forging ahead with their listings. Phoenix Education Partners, parent company of the for-profit University of Phoenix, which announced its IPO plans one day before the shutdown began, said on Wednesday that it has priced its shares at $32. That’s the midpoint of its earlier targeted range of between $31 and $33 a share. The company intends to list on the New York Stock Exchange (NYSE) under the “PXED” ticker sy…

Agentic AI is redrawing the boundaries of value creation in corporate America. Gartner projects that by 2028, 33% of enterprise software applications will incorporate agentic AI, and at least 15% of daily business decisions will be made autonomously by AI agents. The AI race isn’t about building the most sophisticated algorithms, it’s about whether employees actually adopt these digital collaborators and use them to expose inefficiencies long hidden in plain sight. Yet many business leaders are still grappling with how to integrate agentic AI seamlessly into existing operations, and deliver meaningful results. A recent MIT Nanda report found that 95% of AI pilots fail…

When I first entered the workforce, my mantra was simple: Do whatever it takes. So when I was organizing and running programming for an event early in my career and the need for visitor transportation came up, I didn’t hesitate. That’s how I ended up behind the wheel of a 12-person Sprinter van—doing pickups, drop-offs, and general schlepping in between running the actual event. Saying yes to every extra task doesn’t make you indispensable. It makes you exhausted. And worse, it raises the question of your value as an employee. Are you just duct tape slapped over a leak when needed, or is there real substance and strategy to your role in the organization? A str…

Megan Rapinoe, Caitlin Clark, Serena Williams, Mia Hamm, Lindsey Vonn—the list of high-profile, recognizable women athletes is growing. And track and field athletes may be the next to become household names. That’s the bet that Alexis Ohanian is making with Athlos, an all-women’s track and field league, which is hosting its second event in New York this week. Ohanian is perhaps best known as the cofounder of Reddit, but he’s also an investor who’s made no secret of his interest in investing in sports. During a press event in New York City this week, he said the idea for Athlos came to him while watching the Olympics, during which millions of people tune in to wa…

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Most of America’s largest homebuilders have publicly stated that the peak 2025 housing market saw softer-than-expected conditions, particularly in many parts of the Sun Belt. This softer housing market environment caused unsold inventory to tick up. Indeed, since the pandemic housing boom fizzled out, the number of unsold completed U.S. new single-family homes has been rising: August 2016 —> 61,000 August 2017 —> 63,000 August 2018 —> 69,000 August 2019 —> 79,000 August 2020 —> 52,000 August 2021 —> 34,000 Aug…

KPop Demon Hunters took over Netflix when it debuted in August. Next, it’s coming for Halloween. That’s according to Google’s annual Frightgeist report, which uses Google Trends search data to predict the year’s top Halloween costumes across a number of categories. This year’s report, published on October 9, shows that characters from the hit animated movie musical KPop Demon Hunters have snagged all five of the list’s top spots. KPop Demon Hunters centers on Huntr/x, a K-pop superstar trio who double as demon hunters. The members—Rumi, Mira, and Zoey—must protect their fans while facing down a rival boy band made up of demons in disguise, led by the singer J…

There is an all-out global race for AI dominance. The largest and most powerful companies in the world are investing billions in unprecedented computing power. The most powerful countries are dedicating vast energy resources to assist them. And the race is centered on one idea: transformer-based architecture with large language models are the key to winning the AI race. What if they are wrong? What we call intelligence evolved in biological life over hundreds of millions of years starting with simple single-celled organisms like bacteria interacting with their environment. Life gradually developed into multi-cell organisms learning to seek what they needed and to avoi…

Nestle will cut 16,000 jobs, new CEO Philipp Navratil said on Thursday, as the world’s largest packaged food company seeks to cut costs and win back investor confidence. The jobs being cut represent 5.8% of Nestle’s around 277,000 employees. Navratil said Nestle had raised its cost savings target to 3 billion Swiss francs ($3.77 billion) from 2.5 billion francs by the end of 2027. U.S. import tariffs are a headwind for Nestle, despite the bulk of the company’s U.S. sales being manufactured locally, while food producers across the board are grappling with fragile consumer confidence and changing habits as people seek to eat more healthily. “The world is changin…

Who doesn’t love a little cinnamon sprinkled on their toast or oatmeal? Unfortunately, lovers of the spice now have more things to worry about. The Food and Drug Administration (FDA) has expanded its list of ground cinnamon products to avoid over fears that they could contain elevated levels of lead. Here’s what you need to know about the latest cinnamon products the FDA is warning consumers to avoid. What’s happened? On October 10, the FDA updated its ongoing list of ground cinnamon products that consumers should avoid due to fears that the products may contain elevated levels of lead, which could be harmful. The most recent updates to the list of products…

During a recent New York Fashion Week, a wood-paneled boutique popped up in SoHo next to Louis Vuitton and Bottega Veneta. On the racks were tailored, wide-leg jeans and simple black Henley dresses that signaled understated elegance. But unlike those of neighboring boutiques, the clothes weren’t from a storied European maison de couture. They were some of the newest collections from Scoop and Free Assembly, two brands led by Brandon Maxwell, creative director at the House of Walmart. The pop-up—which featured items priced between $8 and $75—was part of the Bentonville, Arkansas–based retailer’s strategy to get its products in front of urban shoppers who might not be f…

Get ready to hurry up and wait. As delays and cancellations continue to pile up at the nation’s busiest airports during the weeks-long government shutdown, some travelers who have been anticipating extra headaches are hedging their bets with extra insurance protections. According to data shared with Fast Company from the price comparison service InsureMyTrip, 10% of travel insurance policies purchased in September and into October have included “cancel for any reason” (CFAR) coverage. That’s the highest percentage of the year so far and above the average of 8% seen from January through August, InsureMyTrip says. The additional protection, which can incr…

While most teams have managers and team leads, many also have something less official, but just as recognizable: the “workplace parent.” They’re the go-to for advice . . . even for things that may not even be related to work. They remember birthdays, organize celebrations, and somehow have everything you might need. Paper clip? No problem. Jumper cables? Of course. The phone number for the receptionist you’re too scared to call—don’t worry, they did it for you. But what does it really mean to be the caretaker of your workplace? And can that caring nature sometimes hold you back professionally? Here are four signs that you’re the workplace parent, plus the r…

The Coca-Cola Co. said sales of premium beverages and mini cans helped boost its third-quarter results despite tepid demand in the U.S. and elsewhere. The Atlanta beverage giant said Tuesday it continues to see a divergence among consumers in North America and Europe, with higher-income buyers opting for its more expensive brands like Smartwater, Topo Chico, and Fairlife, while middle- and lower-income consumers are under more pressure. Henrique Braun, Coke’s chief operating officer, said the company has focused on affordability by shrinking package sizes and leaning into sales of mini cans. Earlier this month, Coke announced it will sell individual, 7.5-ounce min…

Not content with having hundreds of millions of users peppering ChatGPT with queries and conversations every day, OpenAI wants to further embed itself in our digital lives. This week the company released Atlas, an AI-laden web browser it hopes will challenge incumbents and be adopted at scale. Atlas is one of a raft of AI-powered browsers that have been unleashed on the market in recent months. Perplexity, the AI answer engine, has Comet. Opera, a smaller European competitor to the likes of Mozilla Firefox, Google Chrome and Microsoft Edge, released Neon, which has its own AI functionalities. OpenAI stands a better chance than most of dislodging Google Chrome, whi…

Toy retail brand Toys “R” Us will open new flagship stores and seasonal holiday shops just in time for the holidays. The initiative is in partnership with specialty retailer Go Retail Group, the company said. The locations will feature products from popular brands such as Barbie, Hot Wheels, Nerf, Lego, and Paw Patrol. Some of the new stores have already opened their doors. According to the company, additional stores will open throughout the season. Here’s where you can shop Consumers will be able to do their holiday shopping at the following new Toys “R” Us locations: Flagship stores: Chicago Premium Outlets — Aurora, IL Camarillo Premium …