Target said Thursday that it is eliminating about 1,800 corporate positions in an effort to streamline decision-making and accelerate initiatives to rebuild the flagging discount retailer’s customer base.
About 1,000 employees are expected to receive layoff notices next week, and the company also plans to eliminate about 800 vacant jobs, a company spokesperson said. The cuts represent about 8% of Target’s corporate workforce globally, although the majority of the affected employees work at the company’s Minneapolis headquarters, the spokesperson said.
Chief Operating Officer Michael Fiddelke, who is set to become Target’s next CEO on Feb. 1, issued a note to personnel on Thursday announcing the downsizing. He said further details would come on Tuesday, and he asked employees at the Minneapolis offices to work from home next week.
“The truth is, the complexity we’ve created over time has been holding us back,” Fiddelke, a 20-year Target veteran, wrote in his note. “Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life.”
Target, which has about 1,980 U.S. stores, lost ground to Walmart and Amazon in recent years as inflation caused shoppers to curtail their discretionary spending. Customers have complained of messy stores with merchandise that did not reflect the expensive-looking but budget-priced niche that long ago earned the retailer the jokingly posh nickname “Tarzhay.”
Fiddelke said in August when he was announced as Target’s next CEO that he would step into the role with three urgent priorities: reclaiming the company’s position as a leader in selecting and displaying merchandise; improving the customer experience by making sure shelves are consistently stocked and stores are clean; and investing in technology.
He cited the same goals in his message to employees, calling the layoffs a “necessary step in building the future of Target and enabling the progress and growth we all want to see.”
“Adjusting our structure is one part of the work ahead of us. It will also require new behaviors and sharper priorities that strengthen our retail leadership in style and design and enable faster execution,” he wrote.
Target has reported flat or declining comparable sales — those from established physical stores and online channels — in nine out of the past 11 quarters. The company reported in August that comparable sales dipped 1.9% in its second quarter, when its net income also dropped 21%.
The job cuts will not affect any store employees or workers in Target’s sorting, distribution and other supply chain facilities, the company spokesperson said.
The corporate workers losing their jobs will receive pay and benefits until Jan. 8 as well as severance packages, the spokesperson said.
Card-reading contact lenses, X-ray poker tables, trays of poker chips that read cards, hacked shuffling machines that predict hands. The technology alleged to have been used to execute a multistate, rigged poker operation sounds like it’s straight out of Hollywood.
And those were only some of the gadgets that authorities say were used to swindle millions of dollars from unsuspecting victims through rigged, high-dollar, underground poker games over more than five years.
A sprawling indictment unsealed Thursday by the U.S. attorney for the Eastern District of New York charged Chauncey Billups, the head coach of the NBA’s Portland Trail Blazers, and Damon Jones, a former NBA player, along with members of the Mafia and dozens of other defendants, with being part of a conspiracy.
The victims were “at the mercy of concealed technology, including rigged shuffling machines and specially designed contacts lenses and sunglasses to read the backs of playing cards, which ensured that the victims would lose big,” U.S. Attorney Joseph Nocella of Brooklyn said in a statement.
Cheating at poker is as old as poker itself. But today, wearable tech and nano-cameras are putting even upstanding poker players on their guard.
The defendants used “special contact lenses or eyeglasses that could read pre-marked cards,” Nocella said at a news conference announcing the indictments.
He also showed a photo of an X-ray table that “could read cards face down on the table … because of the X-ray technology.”
An X-ray poker table in an image from defendant Robert Stroud’s iCloud account.U.S. Justice Department
“Defendants used other cheating technologies, such as poker chip tray analyzers, which is a poker chip tray that secretly reads cards using a hidden camera,” he said.
And while marking poker cards so they are visible only with special eyewear is an old trick, new radio-frequency identification and infrared technologies have ramped up the sophistication levels.
Technically speaking, many of the devices involved in the alleged scam authorities detailed Thursday are relatively cheap to manufacture, said Sal Piacente, a gaming security consultant.
By the time they reach their customers, however, the cost of industrial shufflers or tables can easily approach $100,000, once distributors and middlemen are factored in.
“You could make a lucrative career buying this stuff,” Piacente said.
Casino and gaming security consultants told NBC News that the alleged scheme was possible only because the games were underground. In backrooms, there was none of the surveillance tech that reputable casinos use to catch players cheating.
“A lot of the features which made this scheme so successful would have been ID’d a lot sooner, or very quickly, in a traditional regulated gaming environment,” said Ian Messenger, a former U.K. law enforcement officer and founder and CEO of the Association of Certified Gaming Compliance Specialists.
More than any other tech, it was the reprogramming of the industrial card shufflers — identified in charging documents as Deckmate-brand machines — that authorities said was key to the alleged game rigging.
A DeckMate 2 shuffler taken apart on a table in an image from defendant Shane Hennen’s iCloud account. U.S. Justice Department
Deckmates are not sold directly to the public — though many used ones can be found for sale online. The ones at the high-dollar games cited in the indictment could read cards and predict which player had the best hand. Neither Deckmate nor its parent company, Light & Wonder, were implicated in any way in Thursday’s indictments.
A spokesman for Light & Wonder told NBC News in a statement that the company was aware of reports about the charges against people but said they were not affiliated with the company.
“We sell and lease our automatic card shufflers and other gaming products and services only to licensed casinos and other licensed gaming establishments,” said Andy Fouché, the company’s vice president of communications. “We will cooperate in any law enforcement investigation related to this indictment.”
Reprogramming shufflers is not a new trick. In 2023, hackers at the Black Hat security conference in Las Vegas presented research showing how to hack a Deckmate shuffler and use it to cheat.
The rigged shuffler machines would transmit information about the players’ hands to an off-site “operator,” according to prosecutors.
The computer program showing information transmitted by the rigged shuffling machine in an image from defendant Shane Hennen’s iCloud account. U.S. Justice Department
The operator would then communicate the information to someone else at the table, dubbed the “quarterback.” The victim was known as the “fish.”
Here, the high-tech gadgets met the low-tech of a card game.
The quarterback might touch the $1,000 poker chip or tap his chin or touch his black chips to indicate who at the table had the best hand.
Text messages obtained by prosecutors also appear to show defendants concerned that a fish would leave the table if he lost too many hands.
“Guys please let him win a hand he’s in for 40k in 40 minutes he will leave if he gets no traction,” read one text message released by authorities.
But according to Messenger, the consultant, it was not the tech that made the alleged scheme so successful for so long. What set it apart was the level of communication.
For example, he said, the card information had to be seamlessly passed from the dealing machines to an off-site operator and back to a person back at the table, all without alerting the fish.
“The piece that made this so successful was the coordination, not the technology,” he said.
A group that includes activist investor Jana Partners and NFL player Travis Kelce says it has accumulated one of the largest ownership stakes in Six Flags Entertainment and intends to press the company’s leadership on ways to improve the struggling amusement park operator’s business.
Jana said Tuesday that the investor group now owns an economic interest of approximately 9% in Six Flags. The group plans to ‘engage’ with Six Flags’ management and board of directors to discuss ways to enhance shareholder value and improve visitors’ experience.
Shares in the Charlotte, North Carolina-based Six Flags surged 17.7% on the news. The shares added another 5.1% gain in after-hours trading. Even with Tuesday’s rally, the company’s shares are down about 47% so far this year.
Six Flags reported a loss of $319.4 million for the first half of the year. The company said attendance fell 9% in the three months that ended June 29, due partly to bad weather and a ‘challenged consumer’ in most of the markets it operates in.
The investor group also includes consumer executive Glenn Murphy and technology executive Dave Habiger.
Kelce, tight end for the Kansas City Chiefs, said in a statement that he grew up going to Six Flags amusement parks.
‘The chance to help make Six Flags special for the next generation is one I couldn’t pass up,’ he said.
The American cattle ranching industry is blasting President Donald Trump’s proposal to purchase beef from Argentina in an effort to lower supermarket beef prices.
“This plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices,” Colin Woodall, CEO of the National Cattlemen’s Beef Association, said in a statement Monday.
Wyoming-based cattle operation Meriwether Farms addressed Trump directly in a social media post Monday.
“We love you and support you — but your suggestion to buy beef from Argentina to stabilize beef prices would be an absolute betrayal to the American cattle rancher,” the farm wrote on X.
By midday Tuesday, the post had already received 4 million views. A representative for Meriwether Farms did not immediately respond to a request for comment.
Trump floated purchasing beef from the South American nation Sunday aboard Air Force One to push down U.S. beef prices by increasing the overall supply.
‘We would buy some beef from Argentina,’ he told reporters, ‘If we do that, that will bring our beef prices down.’
Beef prices have hit record highs this year, according to data from the Bureau of Labor Statistics,fueled in part by depleted herd counts and steady demand from U.S. consumers.
Oil Prices Rebound After Trump’s Criticism of Fed Chair Powell
On April 22, 2025, oil prices rebound experienced a modest rebound following a significant drop the previous day. The initial decline was triggered by President Donald Trump’s renewed criticism of Federal Reserve Chair Jerome Powell, which unsettled financial markets and raised concerns about the central bank’s independence.
Market Reaction to Political Commentary
President Trump’s comments on Monday intensified investor fears regarding the Federal Reserve’s autonomy in setting monetary policy. The criticism led to a broad sell-off in equities and commodities, with oil prices bearing the brunt of the market’s anxiety.
Short-Covering Leads to Price Recovery
Despite the initial plunge, oil prices rebound edged higher on Tuesday as investors engaged in short-covering. Brent crude futures rose 0.5% to $66.62 per barrel, while West Texas Intermediate (WTI) crude for May delivery increased by 1% to $63.73 per barrel. The more actively traded WTI June contract also gained 0.7% to $62.84 per barrel.
Ongoing Economic Concerns
Market participants remain cautious amid ongoing fears of a potential recession linked to U.S. tariff policies and concerns over Federal Reserve independence. These factors have increased worries about the U.S. economy and crude demand. Additionally, progress in U.S.-Iran nuclear deal talks has eased supply concerns, potentially impacting oil prices further.
As the situation evolves, investors will closely monitor geopolitical developments and central bank communications to assess the potential long-term impacts on the energy markets.
The recent spotlight on Trump’s Fed Criticism has sparked unease among investors and financial analysts alike. President Donald Trump’s repeated public attacks on Federal Reserve Chair Jerome Powell have amplified concerns over the central bank’s independence. As a result, markets have reacted with volatility, and investor sentiment has taken a noticeable hit.
Market Reactions to Political Pressure
Wall Street’s response to Trump’s Fed Criticism was swift. Major stock indices, including the S&P 500 and Nasdaq, posted losses amid uncertainty over future monetary policy decisions. Investors fear that political attempts to sway the Federal Reserve’s agenda may undermine its objectivity. If monetary policy is dictated by short-term political goals rather than long-term economic data, the implications could be severe for inflation, interest rates, and overall economic health.
Why Federal Reserve Independence Matters
One of the cornerstones of a stable economy is a politically neutral central bank. Trump’s Fed Criticism has called that neutrality into question. The Federal Reserve must be able to act without external pressure to maintain credibility in the eyes of global markets. Political interference could compromise its ability to control inflation or manage unemployment rates effectively.
Investor Sentiment and Future Outlook
Investor confidence remains fragile. Many market participants have shifted assets into safer investments such as gold and U.S. treasuries, seeking shelter from potential turmoil. Economic advisors stress the importance of maintaining clear, data-driven policy guidance, especially as the U.S. navigates ongoing trade issues and inflation concerns.
In the coming weeks, the Federal Reserve’s actions will be closely watched. Should Trump’s Fed Criticism intensify, it could further erode market stability and investor trust in U.S. monetary policy.
The gold price surge continued on April 21, 2025, as gold hit a record high of $3,385 per ounce. This milestone came amid a weakening U.S. dollar and renewed global trade tensions. Investors are increasingly turning to gold as a safe-haven asset, signaling market uncertainty and shifting investment strategies.
Gold Price Increase Driven by Dollar Weakness
The U.S. dollar index fell sharply, hitting its lowest level since January 2024. A weaker dollar typically boosts gold prices, as it makes the metal more attractive to international buyers. This contributed significantly to the ongoing gold price surge seen in recent weeks.
In addition, economic data indicating slower growth in key global markets has prompted investors to reduce their exposure to riskier assets. Gold’s long-standing reputation as a hedge against economic uncertainty has once again proven true.
Trade Tensions Fuel Demand for Safe-Haven Assets
Ongoing trade friction between major economies—particularly the U.S. and China—has triggered market anxiety. Announcements related to new tariffs and supply chain risks are further motivating the shift from equities to gold. This environment is ideal for a gold price surge to gain momentum.
Analysts Predict Continued Gold Price Growth
Market analysts suggest that the upward trend is far from over. If inflation persists and interest rates remain steady or fall, the gold price could climb even higher. Some predict that the next psychological barrier of $3,500 per ounce may soon be tested.
As the global economic landscape continues to evolve, gold is expected to remain a central pillar in investor portfolios. Whether as a hedge against inflation or a response to geopolitical unrest, the gold price surge is being closely monitored by financial experts.
BNB Price Surge Leads Crypto Gains as Bitcoin Climbs
The BNB price surge on April 21, 2025, stole the spotlight as Binance Coin jumped over 3.2% to cross the $600 mark. This move came as Bitcoin soared past $87,000, reigniting investor interest in altcoins. The bullish wave didn’t stop with BNB—SOL and XRP also made strong moves, reflecting a positive trend across the cryptocurrency market.
BNB Price Surge Driven by Token Burn and Momentum
Fueling the BNB price surge was Binance’s recent $1 billion token burn, which reduced the circulating supply. Additionally, increased trading volumes and renewed faith in Binance’s ecosystem helped BNB regain upward momentum. Investors are optimistic that Binance’s expansion and focus on compliance could drive long-term growth.
SOL Rally and XRP Breakout Add to Market Optimism
Solana (SOL) saw a 10.2% rally, breaking above the $135 resistance level with strong volume and technical confirmation. XRP, on the other hand, climbed past $2.10, setting the stage for a potential breakout above $2.15. These moves indicate bullish setups that are gaining attention from both traders and long-term holders.
Bitcoin Reinforces Its Role as Digital Gold
Bitcoin’s rise above $87,000 reflects renewed demand for a digital safe-haven. With increasing global economic uncertainty and inflation concerns, many investors view Bitcoin as “digital gold.” This sentiment is spilling over into altcoins, triggering the current crypto rally.
Conclusion and Market Outlook
The BNB price surge highlights growing investor confidence in altcoins. Alongside Bitcoin’s strength, tokens like SOL and XRP are enjoying increased attention. If this trend continues, more gains could be ahead for altcoin markets. Investors should monitor resistance levels and trading volumes closely for signs of sustained momentum.
Global PC shipments rose 9.4% in Q1 2025, totaling 62.7 million units. This spike was driven by fears of new U.S. tariffs. Companies rushed deliveries to avoid increased costs.
Why Global PC Shipments Jumped
Many manufacturers increased their shipments to the U.S. in early 2025. They feared higher import taxes due to potential tariffs. By acting early, they aimed to keep costs down and maintain profit margins.
Big players like Lenovo and HP saw strong results. Lenovo’s shipments to the U.S. jumped by 20%, while HP increased theirs by 13%. These early moves gave them an edge over competitors.
What This Means for the Market
Analysts say this growth may not last. Since many shipments were front-loaded in Q1, future quarters could see weaker performance. Customers might delay purchases due to higher prices and full inventory levels.
The rise in global PC shipments may lead to a short-term oversupply. That could force companies to offer discounts in Q2 and Q3.
How Companies Are Adapting
To reduce future risks, PC makers are changing where they build their products. Many are shifting production out of China to countries like Vietnam and Mexico. This move helps them avoid tariffs and manage costs better.
Conclusion
Q1 2025 saw a sharp increase in global PC shipments. While this boost came from tariff concerns, it also shows how fast companies can adapt. Moving forward, the focus will shift to long-term strategies like supply chain diversification.
Key takeaway: The PC shipments spike in early 2025 may be short-lived, but it highlights the importance of flexibility in today’s trade environment.
As of April 9, 2025, Bitcoin (BTC) is trading at approximately $77,766, marking a significant drop from its January peak of over $109,000. This Bitcoin price dip highlights the heightened volatility in the cryptocurrency market, influenced by growing geopolitical tensions and recent tariff announcements.
Bitcoin Volatility: A Reflection of Global Uncertainty
Bitcoin price dip have always been a hallmark of its market behavior, but recent economic indicators have intensified these movements. The cryptocurrency fell sharply amid a global crypto selloff, with Ether also leading declines. Analysts attribute this to risk-off sentiment in broader financial markets as investors react to rising inflation, interest rates, and the ripple effects of U.S. trade policies.
Data from Yahoo Finance and MarketWatch show that Bitcoin touched an intraday low of $74,772 before recovering slightly. This steep drop comes just weeks after the coin hovered comfortably above the $100,000 mark, signaling increasing trader hesitation.
Tariff Announcements Add Fuel to the Fire
The reintroduction of aggressive U.S. trade tariffs has significantly impacted global markets. In particular, investors fear that escalating trade tensions with China and other nations may trigger another round of economic slowdown. These fears have not spared cryptocurrencies. Despite being considered a hedge against fiat inflation, Bitcoin is still viewed as a risky asset in volatile climates, prompting panic-selling among short-term holders.
Much like traditional equities, the crypto market responded sharply to news of fresh tariffs, with traders offloading high-volatility assets. Analysts suggest that institutional investors, who played a major role in Bitcoin’s surge to all-time highs, are now reassessing their exposure amid macroeconomic headwinds.
Broader Crypto Selloff Led by Ether and Altcoins
Ether (ETH), the second-largest cryptocurrency, saw a similar downward trend, falling more than 5% in the same trading window. Other major altcoins like Solana (SOL), XRP, and Cardano (ADA) also posted significant losses. This coordinated pullback across the crypto landscape underlines the interconnectedness of digital asset markets and investor sentiment.
The crypto fear and greed index, which gauges market emotion, has shifted sharply toward “fear,” reinforcing the cautious outlook across the sector.
Investor Sentiment and Portfolio Rebalancing
The current Bitcoin price dip has prompted both retail and institutional investors to rebalance their portfolios. Many are shifting towards less volatile assets like gold and U.S. treasury bonds, leading to short-term sell pressure in Bitcoin. With upcoming halving cycles and continued interest from global regulators, the long-term trajectory of Bitcoin remains uncertain but still promising for long-term believers.
Expert Opinions and What Comes Next
Market strategists from Barron’s and Bloomberg suggest that this dip may be temporary, especially if inflation and interest rates stabilize in the coming months. Some see the correction as a healthy reset, paving the way for sustainable future growth. Others warn that if geopolitical tensions worsen, Bitcoin could revisit sub-$70K levels.
Investors are encouraged to monitor developments in the global economic landscape, including central bank actions and trade negotiations, which will undoubtedly shape Bitcoin’s next moves.
Conclusion: A Temporary Setback or Trend Reversal?
Bitcoin’s price dip below $80,000 in April 2025 signals a broader market correction triggered by trade war fears and shifting economic policies. However, history shows that Bitcoin has often rebounded stronger after periods of doubt. Whether this is a short-term drop or a longer-term reset, one thing is certain: Bitcoin continues to mirror the complexities of the global financial landscape, and investors must stay informed and adaptable.
Key takeaway: As global tariffs return and inflation lingers, Bitcoin’s short-term volatility may persist. Long-term investors, however, still view dips as potential entry points into a decentralized future.
