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Secondhand luxury isn’t new, but its popularity is surging. Steep price hikes by prestigious brands like Chanel SA are driving some luxury buyers to look for less expensive used items. Others are seizing on secondhand goods’ sustainability bona fides: A used pair of designer jeans doesn’t cost any more of the planet’s resources to make....

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Meta Platforms Inc. META -2.72% is planning to cut expenses by at least 10% in the coming months, in part through staff reductions, as the social-media giant confronts stalling growth and increased competition, according to people familiar with the company’s plans. The Menlo Park, Calif., company has begun quietly nudging out a significant number of...

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Gap Inc. GPS -3.26% 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...

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Ford Motor Co. on Monday warned third-quarter earnings would be affected by about $1 billion in higher-than-anticipated supplier costs and parts shortages that have led to unfinished vehicles it couldn’t sell during the period. The Dearborn, Mich., auto maker reaffirmed its year-end guidance for 2022, projecting adjusted operating results for the third quarter would fall...

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U.S. utility customers, faced with some of their largest bills in years, are set to pay even more this winter as natural-gas prices continue to climb. Natural-gas prices have more than doubled this year because of a global supply shortage made worse by the war in Ukraine, and they are expected to remain elevated for...

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A new heart valve repair device from Edwards Lifesciences Corp. was as effective as the market-leading device from Abbott Laboratories in a clinical study of heart-disease patients, a finding likely to intensify competition in a growing device market. Edwards said Thursday that its new product, known as Pascal Precision, had been approved by the U.S....

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