Companies

For once, Nike tells its fans, “Don’t do it.” But the twist to his famous catchphrase is for a good cause: a public service announcement addressing racism in the wake of the death of George Floyd, which has sparked protests across the country. Instead of the athletic company’s famous slogan “Just Do It,” the short Instagram video begins with the …

Furniture street vendor Raymour & Flanigan has halted efforts to reopen its stores in New York after The Post wrote about the controversial practice, employees said. “We were told that we are ‘on hiatus’ and will receive an update later today or tomorrow,” an Empire State store manager said of the orders he received after The Post story was published. …

The country’s largest mattress maker is in danger of becoming a victim of the coronavirus this summer, and it’s the company’s private equity owners that have made it vulnerable. Serta Simmons Bedding, a 150-year-old manufacturer that controls nearly 40 percent of the US mattress market. The US faces a liquidity crisis as its retailers struggle with state-mandated closings that have …

Tyson Foods plans to temporarily close an Iowa pork plant where nearly a quarter of workers have contracted the new coronavirus. The meat processing giant announced the move Thursday after Iowa officials said 555 of the 2,517 employees at the Storm Lake facility had tested positive for the life-threatening virus. That’s about 22 percent of the plant’s workforce. Tyson partly …

SoftBank Vision Fund director Rajeev Misra saw his total payout in the last trading year more than double to 1.6 billion yen ($ 14.8 million), even as the fund’s underperformance led SoftBank to an operating loss record $ 13 billion. The figure was surpassed only by the remuneration of the Director of Operations of the SoftBank Group, Marcelo Claure, which …

US consumer spending plummeted last month when Americans accumulated cash during the coronavirus pandemic, new data shows. Personal consumption spending fell 13.6 percent in April, marking the biggest drop since the feds began tracking the figure in 1959, the United States Department of Commerce said on Friday. However, the U.S. savings rate rocketed to record levels as Americans racked up …

Elon Musk is officially on the money. On Thursday, the Tesla CEO became eligible to cash in on a controversial payday that could lead to more than $ 700 million. The electric car maker he said in a presentation that his board had certified the operational milestone needed to unlock first prize in Musk’s stunning $ 50 billion pay package, …

Federal Reserve Chairman Jerome Powell acknowledged on Friday that the Fed faces a major challenge with the launch in the next few days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed’s Main Street Lending is targeted at midsize companies that are too large for the government’s small …

The U.S. actions breathed a deep sigh of relief on Friday after President Trump’s harsh conversation with China did not include the announcement of new tariffs. The Dow Jones industrial average fell to 368.97 points, or 1.4 percent, to 25,031.67 before 2 p.m. from Trump. Press conference. That index closed just 17.53 points, at 25383.11, a drop of 0.07. The …

The closure of the business has helped drive sales at Pier 1 Imports, The Post has learned. The struggling vendor of glassware and wicker furniture has been raising around $ 20 million a week in online business closing sales, the CEO revealed in a bankruptcy hearing on Friday. That’s better than any of his Black Friday sales, he said. “We …