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The financial services industry is facing an era of unparalleled fragmentation. Consumers are no longer limited to a single bank or financial provider in an increasingly nomadic digital environment. Instead, consumers can move seamlessly between services and products across multiple platforms. This creates a highly competitive marketplace while still maintaining some degree of segmentation. As fintech disruptors and traditional financial institutions compete for consumers, creating brand differentiation and customer loyalty has become one of the hardest and most critical aspects of growing a business. Adding to this challenge, banks and financial service providers fac…

America’s small businesses are the backbone of our economy. They create two-thirds of new jobs, power innovation, and anchor communities across the country. But that backbone is under real strain. Rising healthcare costs dominate the headlines, but what’s missing from the conversation is how deeply they impact the small businesses that keep our economy running. At Gusto, we see this strain firsthand. Our latest Small Business Jobs Report showed hiring slowed in November as owners continue to navigate higher costs and uncertainty. Rising healthcare premiums aren’t the only challenge, but they’re making it that much harder to grow and hire with confidence. Since 202…

During his family’s annual summer vacations on North Carolina’s Outer Banks, high schooler Ajith Varikuti began to notice something concerning. Homes on the narrow line of barrier islands that Varikuti had grown up visiting from his hometown Charlotte were no longer there. “I started seeing more and more news articles about entire houses being completely destroyed. And it started clicking, because some of those houses that were being destroyed I’d seen in my previous years there,” he says. Varikuti, who was then a 9th grade student, knew there had to be a solution. So, as part of a student design competition organized by the design software company Autodesk, Varikuti …

At the Exceptional Women Alliance (EWA), we enable high level women to mentor each other to enable each leader to achieve personal and professional happiness through sisterhood. As the nonprofit organization’s founder, chair, and CEO, I am honored to interview and share insights from some of the thought leaders who are part of our peer-to-peer mentoring. Our insights today come from Susan Holliday, board director and adviser, who speaks about her global career in the insurance industry, spotting new risks and turning them into opportunities. Q: Your career has addressed various issues related to the insurance industry. What are some recent challenges? Susan …

Struggling pharmacy chain Rite Aid may be preparing to file for a second bankruptcy and sell itself in pieces, according to a new report. The plans would come just a year after Rite Aid emerged from its prior bankruptcy proceedings. Here’s what you need to know. What’s happened? A report from Bloomberg yesterday said that the pharmacy chain Rite Aid was preparing to file for a second bankruptcy. Rite Aid previously filed for Chapter 11 bankruptcy in 2023, from which it emerged last year in 2024. But now Bloomberg’s report suggests that Rite Aid’s reorganization in that bankruptcy wasn’t enough to help the retailer put its struggles behind it. Rite Aid is re…

Beleaguered pharmacy chain Rite Aid has officially filed for Chapter 11 bankruptcy protection after weeks of media reports suggesting that it was on the cusp of doing so. The bankruptcy is Rite Aid’s second in two years, and it leaves a lot of questions for both customers and employees, including whether stores will be closing, if there will be layoffs, and what happens to customers’ prescriptions. Here’s what you need to know about Rite Aid’s second bankruptcy. Why did Rite Aid file bankruptcy the first time? Rite Aid originally filed for bankruptcy in 2023. It emerged from the process less than a year ago, in 2024, with the hopes of being in a better fi…

Rite Aid is plotting an immediate wind-down of operations at dozens of additional locations as it scrambles this week to sell off its pharmacy assets and retail operations to potential bidders. The drugstore chain, which last week sought Chapter 11 bankruptcy protection for a second time, has marked 68 locations in seven states for closure, meaning it wants to promptly start the process of going-out-of-business sales. The list was disclosed in a filing on Friday with the United States Bankruptcy Court for the District of New Jersey. Interested parties have until May 19 to object to the additional closings, according to the filing. Fast Company has reached out to R…

Rite Aid is moving quickly to close additional store locations after selling a substantial chunk of its pharmacy business to other companies last week. The drugstore chain, which is winding down operations after seeking Chapter 11 bankruptcy protection for a second time earlier this month, has listed 95 store locations that it wants to close as it continues to seek buyers for its retail operations. The locations span six states, with Rite Aid’s home state of Pennsylvania being hit hardest. The list includes more than 70 Pennsylvania stores. Competitors scoop up Rite Aid’s pharmacy assets The move to close additional locations was disclosed in a court filing one…

Bids are due on Tuesday for companies hoping to acquire Rite Aid’s prescriptions business, which it calls “its most valuable economics assets.” While the pharmacy chain has indicated that there are multiple potential buyers, it has also warned of risks to itself and its customers if a buyer doesn’t step up quickly. The Philadelphia-based chain filed for Chapter 11 bankruptcy protection last week, and as part of its court filings, Rite Aid said a timely sale is necessary to minimize “significant” customer attrition that could erode the value of the company’s assets. If the sale of Rite Aid’s pharmacy assets is done in a “disorderly and ad hoc manner,” the company s…

After filing for Chapter 11 bankruptcy protection for a second time this week, Rite Aid is already planning to wind down operations at underperforming locations in at least nine states, court documents show. The long-suffering drug store chain, which is scrambling to sell parts of its business less than one year after emerging from bankruptcy the first time, has identified 47 locations that it will initially close as is negotiates with potential buyers and moves through the Chapter 11 process yet again. Rite Aid has 1,277 pharmacies, three distribution centers, and more than 24,000 employees across 15 states, and it’s hoping to sell many of its locations to pres…

The list of Rite Aid drugstores marked for closure continues to grow at a furious pace after the ill-fated pharmacy chain filed for bankruptcy a second time. In a court filing last week, the company said it would move to close 151 additional locations in 10 states, its largest batch of closures since the Chapter 11 process began three weeks ago. Three earlier filings had disclosed a combined 210 closures, as Fast Company previously reported. That means the list of stores that are expected to shutter on an accelerated timeline is now over 360—more than a quarter of Rite Aid’s fleet of 1,277 locations. Fast Company reached out to Rite Aid for more information …

“Somehow, it didn’t leak.” When I caught up with Rivian founder and CEO RJ Scaringe after the company’s “AI & Autonomy Day” keynote on December 11 at its Palo Alto headquarters, he marveled that the company had managed to keep the event’s news under wraps until it was ready for its big reveal. It did—and there was a lot to discuss. At the keynote, Rivian unveiled its Gen 3 platform, which will turn the maker of EV trucks, SUVs, and vans into an autonomy company, a focus he says will subsume “the whole business” of transportation. Debuting late next year in a version of the upcoming R2 SUV, the Rivian Autonomy Computer platform is powered by a chip the comp…

As demand for EVs declines, electric automaker Rivian is taking this time to adapt its business and expand its brand. Rivian’s founder and CEO RJ Scaringe joins Rapid Response to explore the company’s recent $5.8 billion partnership with Volkswagen, the ongoing risk assessment for self-driving features, and how Rivian’s AI-enabled ‘technological plumbing’ can accelerate the brand beyond incumbent manufacturers. This is an abridged transcript of an interview from Rapid Response, hosted by the former editor-in-chief of Fast Company Bob Safian. From the team behind the Masters of Scale podcast, Rapid Response features candid conversations with today’s top business leader…

At its factory in Illinois, Rivian will soon use more than 100 retired EV batteries in an on-site power system that will help it save money on electric bills. The electric automaker is one of the first customers of Redwood Materials’s new energy storage business, which takes old or discarded EV batteries—in this case, from Rivian’s own vehicles—and deploys them in a second life on the grid. By making it possible to charge when there’s excess energy available and the cost of electricity is low, the project “can generate significant cost savings that directly contributes to a reduction in the cost of our vehicles,” says Andrew Peterman, who runs Rivian’s advanced en…

It doesn’t look like a Rivian truck, but a new electric bike took shape at the EV company. A startup called Also, which spun out from the EV maker earlier this year and raised $105 million, launched the $4,500 e-bike today, along with a delivery quad for logistics companies and another four-wheeler that consumers could use instead of a typical cargo bike. The idea sparked three years ago, after Rivian founder RJ Scaringe met with Chris Yu, head of product and innovation at the bike brand Specialized. “We connected over a really basic question, which is: why doesn’t that magical experience that you get out of a Rivian exist in anything smaller than a car?” say…

Since first appearing on the Masters of Scale podcast at the height of the Ozempic-Wegovy-Zepbound boom, Zach Reitano, CEO of Ro, has helped scale his company into a leading provider of branded GLP-1s—grabbing headlines with a 2026 Super Bowl ad featuring tennis champion Serena Williams and landing a major partnership with Novo Nordisk for the pill version of Wegovy. Now Reitano has new challenges to address: the long-term health unknowns of the medications, the cultural backlash to “Ozempic face,” and what this wave of disruption could mean not just for pharma but for the future of healthcare. This is an abridged transcript of an interview from Rapid Response, hosted…

Rob Reiner, the son of a comedy giant who became one himself as one of the preeminent filmmakers of his generation with movies such as “The Princess Bride,” “When Harry Met Sally …” and “This Is Spinal Tap,” has died. He was 78. Reiner and his wife, Michele Singer, were found dead Sunday at their home in the Brentwood neighborhood of Los Angeles. A law enforcement official briefed on the investigation confirmed their identities but could not publicly discuss details of the investigation and spoke to The Associated Press on condition of anonymity. Authorities were investigating an “apparent homicide,” said Capt. Mike Bland with the Los Angeles Police Department. The Los …

Robert De Niro and Al Pacino are famously close, with a friendship that spans five decades. The actors were first seen together in The Godfather Part II, but their friendship has propelled them to do several other films together, including Heat and The Irishman. Today, they appear in a different creative project: a campaign for the luxury outerwear label Moncler. The campaign is premised on expanding the definition of warmth. Moncler, which is known for creating warm jackets, also wants to be known for the warmth of feeling between friends and loved ones. In the imagery for the campaign, De Niro and Pacino are captured in black-and-white by Platon, the renowne…

Robert Rodriguez wants to give you a cut of the action—in more ways than one. The director, writer, and producer behind movies including El Mariachi, From Dusk Till Dawn, Spy Kids, and Sin City recently announced Brass Knuckle Films, a new initiative inviting fans to become investors in action films. Powered by global investment platform Republic, Brass Knuckle Films will allow everyday fans to back projects from Rodriguez’s production company Troublemaker Studios, share in the profits, and access perks including exclusive previews, set visits, discussions with Rodriguez and his creative team, and even the chance to have their own idea made into a movie. Each …

Robinhood said on Tuesday it is rolling back the event contracts that would let users bet on the result of the Super Bowl clash this weekend, after the online brokerage received a request from the U.S. Commodity Futures Trading Commission. The halt comes just a day after the launch of the product. Robinhood said it was “disappointed by the outcome.” “We are heeding their directive to cease offering these contracts despite the fact that the CFTC has not deemed Kalshi’s football championship contracts illegal,” said Lucas Moskowitz, Robinhood’s general counsel. Representatives for Kalshi and the CFTC did not immediately respond to Reuters’ requests for comment. …

Trading platform Robinhood, best known for introducing a new generation of traders to the stock market, crypto, and ETFs, is growing up alongside its customers, moving one step closer to becoming a full financial service company the likes of Fidelity or Charles Schwab. On Wednesday, the digital brokerage announced plans to launch Robinhood Banking this fall, a one-stop service that provides “traditional checking and savings accounts with luxury benefits,” as well as Robinhood Strategies, a wealth management product. Customers will need a Gold subscription, which runs $5 a month or $50 a year, to open those individual and joint checking accounts, which will allow u…

Stock trading platform Robinhood has announced its newest offering: the Robinhood Platinum Card. The upgraded option comes two years after the company unveiled its first credit card, the Gold Card. “We built the Gold Card to be the best card for everyday spending, and customer demand showed us there was room to push the boundaries even further,” Deepak Rao, the vice president and general manager of Robinhood Money, said in the announcement. “The Platinum Card offers higher limits, elite rewards and luxury benefits, and raises the bar for what customers should expect from a premium credit card.” Although you can request access, the new Platinum Card is invit…