By Peter Valdes-Dapena, CNN Business Bugatti has unveiled what the French automaker hopes will be the world’s fastest convertible. The 1,600-horsepower, $5 million W16 Mistral is, essentially, an open-topped version of the Bugatti Chiron supercar, though there are major design differences. It is also Bugatti’s last gasoline-only car. Future models will be hybrid. Only 99
Continue Reading By Paul R. La Monica, CNN Business So much for hopes that the Federal Reserve will tap the brakes on its aggressive interest rate hikes. Stocks tumbled Monday as investors once again began to worry that the central bank will raise rates by three-quarters of a point next month. The Dow ended the day with
Continue Reading Opinion by Bill Carter for CNN Business Perspectives In July, TBS announced that, after seven seasons, “Full Frontal with Samantha Bee” would not be returning, and Desus Nice and The Kid Mero disclosed that their Showtime show, “Desus & Mero,” was ending. That news came just months after James Corden revealed that he’d be leaving
Continue Reading By Parija Kavilanz, CNN Business Walmart, the nation’s largest private employer, is expanding travel and abortion coverage for its US employees effective immediately. The company’s healthcare plans will now cover abortion under certain circumstances: when there is a health risk to the mother, rape or incest, ectopic pregnancy, miscarriage or lack of fetal viability, according
Continue Reading By Peter Valdes-Dapena, CNN Business Bugatti has unveiled what the French automaker hopes will be the world’s fastest convertible. The 1,600-horsepower, $5 million W16 Mistral is, essentially, an open-topped version of the Bugatti Chiron supercar, though there are major design differences. It is also Bugatti’s last gasoline-only car. Future models will be hybrid. Only 99
Continue Reading By Jordan Valinsky, CNN Business McDonald’s Chicken Big Mac was a huge hit in the United Kingdom. Now it’s crossing the pond. Beginning later this month, the burger chain is testing the fan favorite at select restaurants in Miami for a limited time. The Chicken Big Mac is similar to its meaty sibling, however it
Continue Reading By Anna Cooban, CNN Business The owner of Regal Cinemas is having a tough time — its stock crashed as much as 80% Friday after reports that its parent company is preparing to file for bankruptcy. British company Cineworld Group has spoken to lawyers at Kirkland & Ellis LLP to advise on the bankruptcy process
Continue Reading By Anna Cooban, CNN Business The owner of Regal Cinemas is having a tough time — its stock crashed as much as 80% Friday after reports that its parent company is preparing to file for bankruptcy. British company Cineworld Group has spoken to lawyers at Kirkland & Ellis LLP to advise on the bankruptcy process
Continue Reading By Jordan Valinsky, CNN Business Wayfair is cutting nearly 900 jobs, or about 5% of the once-hot online retailer’s global workforce, as it looks to regain its financial footing in a post-pandemic future. The company said in a regulatory filing that the cuts will help it “manage operating expenses and realign investment priorities.” Shares fell
Continue Reading Martha C. White for CNN Business The pandemic forced Freed Bodyworks, a wellness center offering massage therapy, yoga, acupuncture, mental health counseling and other services, to shut down for four months. But while clients returned when it reopened in the summer of 2020, workers did not. Almost two years later, owners Frances Reed and Jessica
Continue Reading By Nicole Goodkind, CNN Business The bears and bulls are at it again. Markets have seemingly recovered from a miserable downturn in mid-June that sent the S&P 500 down more than 20%, but analysts and investors can’t tell whether it’s clear skies ahead or if they’re in the eye of the storm. Things are looking
Continue Reading By Jordan Valinsky, CNN Business The cord has been cut. For the first time ever, Americans are watching more streaming TV than cable, according to a report from Nielsen. The milestone has long been expected as viewers change their viewing habits and ditch their pricey cable bundles for cheaper alternatives. In July, streaming amounted to
Continue Reading By Parija Kavilanz, CNN Business Lab-grown diamonds have become so popular with consumers that some couples are asking jewelers to swap the natural diamond in their rings for a lab-created sparkler. “Just last week we had three or four couples who’ve been married for a few years come to us to upgrade the diamond on
Continue Reading By Nicole Goodkind, CNN Business San Francisco Federal Reserve president Mary Daly said Thursday morning that raising interest rates by either half or three quarters of a percentage point in September would be a “reasonable” way to bring inflation down. The hikes would follow back-to-back 75-basis point increases by the Federal Reserve, intended to tackle
Continue Reading By Julia Horowitz, CNN Business When consumers were stuck inside during the early stages of the Covid-19 pandemic, there weren’t many places to spend money. So they turned their attention to technology, scooping up new gaming consoles, monitors and PCs that made living and working from home a bit easier. Now, as people return to
Continue Reading By Peter Valdes-Dapena, CNN Business Dodge, famous for offering cars with big and powerful V8 engines, is phasing out some of its iconic, gas-powered muscle cars in favor of electric power. To ease fans into this new era, the company has opted to mimic some muscle car sensations — including shifting gears and a loud
Continue Reading By Homero De la Fuente, CNN The NCAA’s Big Ten Conference announced on Thursday it has reached a massive media rights agreement with CBS, FOX, NBC and NBCUniversal’s Peacock for a deal reportedly worth an average of at least $1 billion a year. CNN has reached out to the Big Ten Conference to confirm the
Continue Reading By Parija Kavilanz, CNN Business Kohl’s can’t seem to catch a break, and it may have only itself to blame. The department store chain on Thursday presented a dour outlook for 2022, saying it expects full-year sales to fall 5% to 6% compared to a year ago and blaming high inflation for preventing shoppers —
Continue Reading By Frank Pallotta, CNN Business CNN’s “Reliable Sources with Brian Stelter” is coming to an end. The company announced Thursday that it is ending the media analysis show that has aired in various iterations for 30 years. Its last episode will be this Sunday. “As a result Brian Stelter will leave the company,” a CNN
Continue Reading By Alexandra Peers, CNN Business On Christmas Day 2020, Netflix premiered “Bridgerton,” an old-fashioned lushly designed Regency Romance. Gorgeously costumed, multiracial, LGBTQ-friendly and featuring sizzling sex and explicit nudity, it seemed just the thing TV needed in the global Covid lockdown. The series had viewership of 82 million households worldwide within four months, according to
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