Bed Bath & Beyond closes stores including in Columbia
Bed Bath & Beyond is closing 150 more stores including its store in Columbia — just a week after the struggling retailer announced the closure of 87 locations.
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Taco Bell’s breakfast sales soar. It can thank Pete Davidson
By Jordan Valinsky, CNN Breakfast at Taco Bell has been saved — and the chain has Pete Davidson to thank. Sales of Taco Bell’s breakfast burritos and egg-stuffed quesadillas jumped 9% in the fourth quarter of last year, executives at its parent company Yum Brands said in an earnings call Wednesday, attributing the growth to
Continue Reading British postal service unveils first stamps featuring King Charles III
By Issy Ronald, CNN Business The first stamps featuring King Charles III were unveiled on Wednesday by the Royal Mail, the British postal service. The King is captured in profile, his head bare, looking to the left. The standard first-class stamp will feature the portrait on a plain purple background. “Delighted that the Royal Mail
Continue Reading How companies are trying to help victims of the earthquake in Turkey and Syria
By Olesya Dmitracova, CNN Companies around the world are racing to provide help to the victims of the devastating earthquake straddling Turkey and Syria, by donating food, medicines, services and cash. Amazon has prepared donations of relief items, including food, baby food, blankets, tents and medicines, with the first shipments departing from its warehouse in
Continue Reading Nigeria delays plans to replace its banknotes after chaotic scenes at ATMs
By Nimi Princewill and Stephanie Busari, CNN Nigeria was forced Wednesday to delay plans to replace its banknotes with a redesigned currency after chaotic scenes at ATMs as millions of people struggled to get their hands on the new cash. The country’s old notes were supposed to cease to be legal tender starting February 11 but
Continue Reading Turkey’s stock market halted after earthquake leads to sharp selloff
By Anna Cooban, CNN Turkey’s stock market has sunk 15% in the three days since a devastating earthquake hit parts of the country’s south, piling further pain onto an already fragile economy. Trading on Istanbul’s stock exchange was halted Wednesday after the main index dropped 7% in early dealing, according to Turkey’s Central Securities Depository.
Continue Reading Turkey’s stock market halted after earthquake leads to sharp selloff
By Anna Cooban, CNN Turkey’s stock market has sunk 15% in the three days since a devastating earthquake hit parts of the country’s south, piling further pain onto an already fragile economy. Trading on Istanbul’s stock exchange was halted Wednesday after the main index dropped 7% in early dealing, according to Turkey’s Central Securities Depository.
Continue Reading Here’s what keeps Jerome Powell up at night and interest rates high
By Nicole Goodkind, CNN Federal Reserve Chairman Jerome Powell threw markets into a tizzy on Tuesday as he spoke about the economy alongside his former boss, Carlyle Group co-founder David Rubenstein, at the Economic Club of Washington. Stocks struggled for direction as investors tried to get a read on Powell’s economic outlook, attitude towards inflation
Continue Reading US-China trade defies talk of decoupling to hit record high in 2022
By Juliana Liu, CNN Trade between the United States and China hit a record high in 2022, even as political tension heightened between the world’s top two economies. The bilateral goods trade between the countries rose to $690.6 billion last year, according to official US data, which was released Tuesday. Exports to China increased by
Continue Reading Rail unions reach deal with CSX railroad for paid sick time
By Vanessa Yurkevich, CNN CSX Transportation announced Tuesday that it had reached a deal with two railroad unions regarding paid sick leave. The agreement reached between CSX and the Brotherhood of Maintenance of Way Employes Division, which represents engineers, and the Brotherhood of Railway Carmen, which represents mechanical workers, will provide 5,000 union members employed
Continue Reading Chinese savers stashed away $2.6 trillion last year but property crash will cool ‘revenge spending’
By Laura He, CNN Even for a famously frugal nation, Chinese people saved a lot last year. Stuck at home due to Covid restrictions, they socked away a record $2.6 trillion. Now that life is returning to normal, hopes are high that consumers will spend with a vengeance, providing a much-needed boost to the world’s
Continue Reading IRS suggests waiting to file your taxes if you got a special payment from your state in 2022
By Jeanne Sahadi, CNN Business Millions of Californians in 2022 got a special check from their state government to offer relief from a variety of negative economic events including inflation. Millions of taxpayers in other states got different types of special payments from their state governments as well — such as income or property tax
Continue Reading Want your tax refund faster? Here’s what to do
By Jeanne Sahadi, CNN However you feel about doing your taxes, chances are that, if you expect to get a refund, you’ll want it fast. The IRS says it typically issues federal refunds within 21 calendar days of accepting your tax return, assuming there are no issues. (More on those in a minute.) Tom O’Saben,
Continue Reading Americans are becoming ‘reluctant’ to make larger purchases, new Fed report shows
By Alicia Wallace, CNN As retail sales took a bit of a breather in December, so did the credit cards. US consumers’ outstanding credit grew by $11.56 billion to end the year, according to Federal Reserve data released Tuesday. It’s the lowest monthly gain since January 2021 and well below economists’ expectations of $25 billion.
Continue Reading Are we on the brink of a corporate credit crisis?
By Nicole Goodkind, CNN Everyone seems to be in a bit of a debt bind at the moment: The US government has run out of credit to spend, high inflation and interest rates have taken a big bite out of debt-laden tech companies that expected pandemic-era growth to continue and US credit card debt reached
Continue Reading Fed Chair Powell: Inflation fight will take ‘a significant period of time’
By Alicia Wallace, CNN The US labor market remains “extraordinarily strong” and Friday’s monster jobs report underscored that the central bank has more work to do to bring down inflation, Federal Reserve Chairman Jerome Powell said Tuesday. “We didn’t expect it to be this strong,” Powell said of the January jobs report, which showed the
Continue Reading This Fed official grocery shops for his family and knows just how high prices are
By Paul R. La Monica, CNN Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, understands that consumers are still struggling to deal with high prices. And he has the frozen lasagna to prove it. Kashkari told CNN’s Poppy Harlow Tuesday that he knows first hand how expensive many consumer goods and services are.
Continue Reading Inflation was still hot in January, but some prices are cooling off
By Alicia Wallace, CNN Inflation surged in January by the most in three months, according to the latest Consumer Price Index released Tuesday. But despite the monthly increase of 0.5%, inflation continued to slow on a year-over-year basis to 6.4%, according to the Bureau of Labor Statistics. That’s down from December’s 6.5% but higher than
Continue Reading After the Super Bowl, State Farm stadium will have tons of leftovers. Here’s how that food will get to people in need fast
By Parija Kavilanz, CNN On Super Bowl Sunday, an army of volunteers will be ready outside and inside State Farm Stadium in Glendale, Arizona to execute a time-sensitive game plan of their own. Their mission: recover and redistribute a tremendous volume of surplus food. Thousands of Eagles and Chiefs fans will gather on February 12
Continue Reading ‘Britcoin’ could arrive in the second half of the decade
By Julia Horowitz, CNN The United Kingdom is pushing ahead with plans to create a digital pound issued by the Bank of England that would offer a stable alternative to bitcoin or ether. The central bank and the UK Treasury said Monday that an official digital currency is “likely to be needed in the future.”
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