Max Levchin’s Affirm surges in Nasdaq debut

Max Levchin’s Affirm surges in Nasdaq debut

Shares of lending startup Affirm Holdings, founded by PayPal’s co-founder Max Levchin, soared in their debut on Wednesday, giving the company a market capitalization of over $22 billion. Affirm’s shares opened at $90.90 on the Nasdaq, 85.5 percent higher than their upwardly revised initial public offering (IPO) price of $49 apiece. The firm has raised … Read more

Sephora unveils plan to combat racism in its stores

Sephora unveils plan to combat racism in its stores

Sephora pledged to stock more black-owned beauty brands and cut back on outside security guards under a new plan to combat racism in its stores. The cosmetics chain rolled out the plan Wednesday alongside the results of a survey that documented how people of color often face discrimination across the retail industry. The year-long survey … Read more

Dollar General to pay workers to get COVID-19 vaccine

Dollar General to pay workers to get COVID-19 vaccine

Dollar General will offer frontline employees four hours worth of pay after they get the COVID-19 vaccine, the discount retailer said Wednesday, making it one of first US companies to incentivize its workers to get inoculated. The retailer, which has about 140,000 employees, said that it was providing hourly employees the one-time benefit to compensate for … Read more

Dropbox COO to step down as company announces mass layoffs

Dropbox COO to step down as company announces mass layoffs

Dropbox on Wednesday announced the exit of its operations chief and said it will cut 11 percent of its global workforce, or 315 people, as the file hosting service provider shifts business resources in the wake of the COVID-19 pandemic. Shares fell nearly 6 percent to $22.26 after Dropbox said Chief Operating Officer Olivia Nottebohm, … Read more

Intel replacing CEO Bob Swan after two years

Intel replacing CEO Bob Swan after two years

Intel is replacing its CEO after only two years, but it has been a rough stretch for the chipmaker. Bob Swan, who became the company’s chief executive in early 2019, will be replaced in mid-February by industry veteran Pat Gelsinger. Shares spiked 8 percent on news of the change at the top. The Santa Clara, … Read more

Professional Bank cuts ties with Trump after Capitol riots

Professional Bank cuts ties with Trump after Capitol riots

A third bank is severing financial ties to President Trump in the wake of the deadly Capitol riot he incited last week. Florida-based Professional Bank “has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship,” the company told The Post in a … Read more

Elon Musk causes a stir after tweeting ‘legalize comedy’

Elon Musk causes a stir after tweeting 'legalize comedy'

Elon Musk created a ruckus early Wednesday by cryptically posting the phrase “legalize comedy” on Twitter. Tesla’s eccentric billionaire boss — who last week vaulted past Jeff Bezos to become the world’s richest person — posted the tweet without any context and it is unclear what he was referring to. Nevertheless, users flocked to ascribe … Read more

Hollywood production hit COVID-19 pandemic lows in December

Hollywood production hit COVID-19 pandemic lows in December

Movie and television production hit a new pandemic-era low last month in Hollywood. According to FilmLA, a nonprofit group that tracks production in Tinseltown, filming plunged 25 percent last month from November. The production slowdown ramped up toward the end of December, and was linked to voluntary industry efforts to curb the surge in COVID-19 … Read more

Target’s holiday sales surge amid COVID-19 pandemic

Target's holiday sales surge amid COVID-19 pandemic

Target said its sales surged during the holidays as hunkered-down shoppers bought more goods online, the latest in a string of solid reports amid the pandemic. The “cheap chic” discount chain said Wednesday its comparable sales surged 17.2 percent in November and December from a year earlier. While sales at brick-and-mortar stores rose 4.2 percent, … Read more