By Frank Pallotta, CNN Business Bob Iger has a lot on his to do list in his second round as Disney’s CEO. The 71 year-old newly unretired executive has to make the company’s costly streaming business profitable, jump start its floundering stock price and restore the magic in Disney’s culture after Bob Chapek’s tumultuous tenure.
Continue Reading By Jordan Valinsky, CNN Business If your holiday wish list includes a Chick-fil-A sauce-themed blanket or a chicken nugget pillow, look no further. The chicken chain has launched its first-ever online store, and it’s filled with quirky merchandise that pays homage to cult-favorite items. Highlights include an “I Heart Waffle Fries” hoodie, a “Chicken for
Continue Reading By Chris Isidore, CNN Business The US economy grew much faster than expected in the third quarter, according to the latest gross domestic product report, which showed GDP rose by an annualized rate of 2.9%. That’s an improvement from the initial government reading in October that showed 2.6% growth in economic activity, and better than
Continue Reading By Nicole Goodkind, CNN Business American shoppers just keep on spending, lending vital support to the economy. The question is: How long will it last? What’s happening: Americans appear to be indulging in a healthy dose of retail therapy despite stubbornly high inflation and the possibility of a recession ahead. Preliminary Black Friday and Cyber
Continue Reading By Peter Valdes-Dapena, CNN Business The Lamborghini Huracán Sterrato, officially unveiled in Miami Wednesday will be the Italian automaker’s maker’s last purely gasoline-powered supercar. It will also be unlike any Lamborghini supercar before because it’s designed to go off-road. If Mad Max owned a Lamborghini, it would probably look a lot like the Sterrato, with
Continue Reading By Peter Valdes-Dapena, CNN Business The Lamborghini Huracán Sterrato, officially unveiled in Miami Wednesday will be the Italian automaker’s maker’s last purely gasoline-powered supercar. It will also be unlike any Lamborghini supercar before because it’s designed to go off-road. If Mad Max owned a Lamborghini, it would probably look a lot like the Sterrato, with
Continue Reading By Anna Cooban, CNN Business The verdict is in: A four-day work week is good for business. After six months, most of the 33 companies and 903 workers trialing the schedule, with no reduction in pay, are unlikely ever to go back to a standard working week, according to the organizers of the global pilot
Continue Reading By Julia Horowitz, CNN Business For the first time in 17 months, inflation in Europe is easing. Consumer prices rose by 10% in the year to November, according to the first look at official data for the 19 countries that use the euro. That’s down from a record 10.6% jump the previous month, and is
Continue Reading By Laura He, CNN Business Internet users in China will soon be held liable for liking posts deemed illegal or harmful, sparking fears that the world’s second largest economy plans to control social media like never before. China’s internet watchdog is stepping up its regulation of cyberspace as authorities intensify their crackdown on online dissent
Continue Reading By Laura He, CNN Business Internet users in China will soon be held liable for liking posts deemed illegal or harmful, sparking fears that the world’s second largest economy plans to control social media like never before. China’s internet watchdog is stepping up its regulation of cyberspace as authorities intensify their crackdown on online dissent
Continue Reading By Matt Egan and Kate Trafecante, CNN From retailers and computer chip makers to the oil-and-gas industry, businesses are scrambling to find workarounds where possible for a potentially devastating freight rail strike. Even as Congress races to avert disaster through a legislative fix, consumer packaged goods companies are proactively shifting both inbound and outbound shipping
Continue Reading By Nathaniel Meyersohn, CNN Business Americans dished out for toys, televisions and clothing on Black Friday and into the holiday weekend, despite decades-high inflation and a potential recession looming in 2023. The National Retail Federation, a trade group for the retail industry, said a record 196 million Americans shopped in stores and online over the
Continue Reading By Nathaniel Meyersohn, CNN Business When Christine Martinez found out last month that Kroger and Albertsons planned to merge in a deal worth nearly $25 billion, she thought, “here we go again.” Martinez lost her job as a pharmacy technician in the aftermath of a prior supermarket mega-merger: Albertsons’ $9 billion tie-up with Safeway in
Continue Reading By Nathaniel Meyersohn, CNN Business Americans dished out for toys, televisions and clothing on Black Friday and into the holiday weekend, despite decades-high inflation and a potential recession looming in 2023. The National Retail Federation, a trade group for the retail industry, said a record 196 million Americans shopped in stores and online over the
Continue Reading By Anna Bahney, CNN Business Mortgage giants Fannie Mae and Freddie Mac will raise the limits of government-backed loans to a record level for 2023, with the maximum loan limit hitting more than $1 million for high-cost areas, the Federal Housing Finance Agency announced Tuesday. Even as the real estate market has cooled in the
Continue Reading By Paul R. La Monica, CNN Business Tech stocks have taken a nasty tumble this year, but some are doing even worse than others. Exhibit A: software giant Salesforce. Shares of Salesforce have plunged about 40% so far in 2022. That makes it the second-worst performer in the Dow, trailing only chip leader Intel. Salesforce
Continue Reading By Frank Pallotta, CNN Business AMC Networks is looking for a new CEO and plans to lay off 20% of its US workforce. After less than three months on the job, Christina Spade stepped down from the role, the cable network announced Tuesday. AMC said that its board of directors is “currently finalizing who it
Continue Reading By Jordan Valinsky, CNN Business For the holidays, McDonald’s is giving away free meals for life. Well, sort of. Beginning December 5, every order completed in the McDonald’s app for at least $1 will enter customers into a contest to win a McGold Card. Three winners will get a special card that earns them free
Continue Reading By Jordan Valinsky, CNN Business For the holidays, McDonald’s is giving away free meals for life. Well, sort of. Beginning December 5, every order completed in the McDonald’s app for at least $1 will enter customers into a contest to win a McGold Card. Three winners will get a special card that earns them free
Continue Reading By Alicia Wallace, CNN Business US consumer confidence fell in November as inflation and economic uncertainty continued to loom large and potentially dampen holiday shopping plans. The Conference Board’s consumer confidence index measured 100.2 for the month, lower than the downwardly revised 102.2 in October. The index is at its lowest level since July, when
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