By Oliver Darcy, CNN Business Meghan McCain, the conservative personality and co-host of ABC’s “The View” who clashed with her colleagues on and off set, announced Thursday that she is leaving the show. “I’m just going to rip the bandaid off,” McCain said at the top of the show. “I am here to tell all
Continue Reading By Alison Kosik, CNN Hertz has officially emerged from bankruptcy after more than a year as a “much stronger company,” thanks to a red-hot rental car market as more Americans travel and the economy reopens. As part of its bankruptcy filing last year, Hertz promised to sell more than 180,000 vehicles from its fleet by
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By Alexis Benveniste, CNN Business Ampex Brands — a franchisee that owns more than 400 Pizza Hut, KFC, Taco Bell, Long John Silver’s and 7-Eleven locations — is buying Au Bon Pain. Panera, which purchased Au Bon Pain in 2017, will sell all 171 of Au Bon Pain’s locations and will allow Ampex to franchise
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By Alicia Wallace, CNN Business It’s just about closing time on Thursday in early June and the regulars are catching up and winding down after a busy night of darts league. They shoot the breeze, fling back a couple of shots, and spout off lyrics (“get on your bikes and ride!”) to accompany the tunes
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By Anneken Tappe, CNN Business Economists expect a super-strong jobs report on Friday. But don’t be fooled: America’s labor market problems — millions unemployed, worker shortages and worries about child care and health risks — will persist throughout the summer. Even though the US job market is rapidly improving, the economy is still far from
Continue Reading By Anneken Tappe, CNN Business Economists expect a super-strong jobs report on Friday. But don’t be fooled: America’s labor market problems — millions unemployed, worker shortages and worries about child care and health risks — will persist throughout the summer. Even though the US job market is rapidly improving, the economy is still far from
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By Matt Egan, CNN Business American drivers need OPEC and Russia to come to the rescue. Gasoline prices, averaging $3.12 a gallon in the United States according to AAA, are at seven-year highs just as millions of people hit the road for the July 4th holiday weekend. Some gas stations are even running out of
Continue Reading Gas prices are surging this holiday weekend due to a labor shortage with truck drivers. CNN’s Alison Kosik reports.
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By Julia Horowitz, CNN Business For years, many of America’s top corporations have viewed annual shareholder votes as either a necessary formality or a nuisance. Now, a wave of activism is forcing them to pay closer attention. What’s happening: Shareholders approved a record number of resolutions in 2021 on issues related to climate and social
Continue Reading By Julia Horowitz, CNN Business For years, many of America’s top corporations have viewed annual shareholder votes as either a necessary formality or a nuisance. Now, a wave of activism is forcing them to pay closer attention. What’s happening: Shareholders approved a record number of resolutions in 2021 on issues related to climate and social
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By Jordan Valinsky, CNN Business Krispy Kreme’s second appearance on the public markets is off to a sweeter start than expected. The doughnut chain began trading Thursday and opened at $16.30 per share, which is about 4% below its initial public offering at $17. Since then, shares rebounded and closed nearly 25% higher on its
Continue Reading By Paul R. La Monica, CNN Business Clorox was one of the bigger beneficiaries of the Covid economy, as people rushed out to buy bleach, wipes and other disinfecting supplies. The company couldn’t keep wipes on store shelves. But now that nearly 155 million Americans are fully vaccinated and resuming normal activities, consumers aren’t practicing
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By Paul R. La Monica, CNN Business Clorox was one of the bigger beneficiaries of the Covid economy, as people rushed out to buy bleach, wipes and other disinfecting supplies. The company couldn’t keep wipes on store shelves. But now that nearly 155 million Americans are fully vaccinated and resuming normal activities, consumers aren’t practicing
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By Hanna Ziady, CNN Business Gap will close all 81 of its stores in the United Kingdom and Ireland by the end of September and go fully online, as the brand adjusts to changes in shopping habits following the pandemic. The American apparel retailer, which owns Old Navy and Banana Republic, said in a statement
Continue Reading By Hanna Ziady, CNN Business Gap will close all 81 of its stores in the United Kingdom and Ireland by the end of September and go fully online, as the brand adjusts to changes in shopping habits following the pandemic. The American apparel retailer, which owns Old Navy and Banana Republic, said in a statement
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By Michelle Toh, CNN Business Elon Musk is applauding China on a momentous day for the country’s ruling political party. The Tesla and SpaceX CEO lavished praise on the country as it marked a special occasion Thursday: the 100th anniversary of the founding of the Chinese Communist Party. In a Twitter post, Musk wrote that
Continue Reading By Michelle Toh, CNN Business Elon Musk is applauding China on a momentous day for the country’s ruling political party. The Tesla and SpaceX CEO lavished praise on the country as it marked a special occasion Thursday: the 100th anniversary of the founding of the Chinese Communist Party. In a Twitter post, Musk wrote that
Continue Reading By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “Thank God for a free press — which is doing the investigating and reporting that Congress should have done way before now,” Asha Rangappa wrote Wednesday. She was talking about
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By Michelle Toh, CNN Business Didi went public Wednesday in the biggest US share offering by a Chinese company since Alibaba debuted in 2014. Stock in China’s biggest ride-hailing service finished its first day of trading in New York at $14.14, 1% above its initial public offering price of $14 a share. The stock had
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By Oliver Darcy, CNN Business Former Fox News host Ed Henry, who was fired in 2020 over a sexual misconduct allegation, filed a defamation lawsuit on Wednesday against the right-wing news network and chief executive Suzanne Scott. The lawsuit accused Scott of having “publicly smeared” Henry as a “sex criminal” when she released a statement
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