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Gap Inc. GPS -3.52% is eliminating about 500 corporate jobs, according to people familiar with the matter, moving to reduce expenses at the apparel retailer amid declining sales and profits. The jobs are mainly at Gap’s main offices in San Francisco and New York, as well as in Asia, the people said. The company is laying off staff and eliminating positions that are currently open across a range of departments. Some employees have been…

The phishing campaign allowed hackers to gain access to the email accounts of some American Airlines staffers. Photo: JOSHUA ROBERTS/REUTERS…

Nordstrom Inc. JWN -2.75% adopted a so-called poison pill to prevent outsiders from boosting their stake in the business after a Mexican company acquired a 9.9% stake in the upscale U.S. retailer.  A roughly $300 million investment made El Puerto de Liverpool SAB—which operates high-end department stores in Mexico—the second largest shareholder after the founding Nordstrom family, which owns about 30% of the Seattle company.…

Hertz Global Holdings Inc. HTZ -2.57% has agreed to buy up to 175,000 electric vehicles from General Motors Co. GM -5.41% over five years, the latest example of rental companies bulking up on EVs. The companies said Tuesday that Hertz would buy EVs from across GM’s four main brands in North America—Chevrolet, Buick, GMC and Cadillac. The first orders would be for Chevy Bolt EVs…

Chinese firms for years were among the most aggressive buyers of U.S. luxury hotels, office towers and other commercial real estate. Now they are running for the exits.Chinese companies have sold a net $23.6 billion of U.S. commercial properties since the start of 2019, according to data provider MSCI Real Assets. That marks a dramatic turnaround. Between 2013 and 2018, Chinese firms were net buyers of nearly $52 billion of U.S. commercial properties, according to MSCI.  Buyers from China snapped up aging U.S. office…

Business-software provider Salesforce Inc. is launching a marketplace for carbon credits that it says will tackle transparency and quality issues in the fast-growing field. The San Francisco-based company said Tuesday that its latest platform, called Net Zero Marketplace, is set to go online in October with close to 90 projects selling carbon credits that support programs such as forestry, soil health and renewable-energy in the developing world, among others. Business-software…

Ernst & Young’s tax experts bring in lots of cash and are highly valued by the firm’s clients. Many members of the 70,000 strong group don’t know where they will be working next year, or if they will be competing against each other.The proposed breakup of EY into a steady firm focused on auditing companies and a faster-growing consulting business has reached the nitty-gritty phase after its top executives approved the split. More than any other large group at the firm, the tax team will be dismembered in the split.…

Over the past year, some of the world’s biggest technology companies have been bested by an international group of hackers—some of them teenagers—whose motivations seem at times unusual, said security experts who have investigated the episodes. Uber Technologies Inc. UBER -1.38% said Monday that it was a victim of the group, called Lapsus$, saying it gained access to the company’s internal systems and posted messages, including a graphic image, to employees. It was the…

SmileDirectClub Inc.’s finance chief is cutting costs as the company, whose sales have plunged amid high inflation, aims to turn a profit next year.Demand for the company’s teeth straighteners, which sell for around $2,000, has fallen sharply in recent months as persistently high inflation has eaten away at customers’ disposable income. Total revenue fell 28% during the second quarter compared with a year earlier, to $125.8 million. SmileDirectClub’s customers earn around $65,000 per year on…

E.l.f. Beauty Inc., ELF 0.36% known for selling cheap-but-trendy makeup in drugstores, raised prices and rolled out higher-end products this spring when fast-rising costs threatened profits.Left untouched: $3 lipstick.Chief Executive Tarang Amin said he made a bet amid escalating inflation to leave prices unchanged on e.l.f.’s cheapest items. “We didn’t touch a third of our items,” Mr. Amin said in an interview, including bestsellers such…