By Nicole Goodkind, CNN Business Retailers typically want their sales numbers to be red hot, not their customers. But Bed Bath & Beyond is reportedly dealing with cooled momentum and heated customers at its stores. A new report from Bank of America claims that the company has cut air conditioning in an effort to quickly
Continue Reading By Julia Horowitz, CNN Business This week, Russia defaulted on its foreign debt for the first time since the Bolshevik revolution after it failed to pay interest on two bonds during a 30-day grace period that expired Sunday. But to put the event in context, we don’t need to go as far back as 1918.
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors has said that Cadillac, its luxury brand, will lead the automaker into the electric future. It will be the first GM brand to go all-electric and its first EV model is the Cadillac Lyriq, a crossover SUV that’s one of the best Cadillacs I’ve driven in a long
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors has said that Cadillac, its luxury brand, will lead the automaker into the electric future. It will be the first GM brand to go all-electric and its first EV model is the Cadillac Lyriq, a crossover SUV that’s one of the best Cadillacs I’ve driven in a long
Continue Reading By Michelle Toh, CNN Business British taxpayers now officially hold shares in a company that throws sex parties. A government loan provided to Killing Kittens to help it through the pandemic has converted into an equity stake in the company, the British Business Bank confirmed on Tuesday. Killing Kittens, which organizes women-led adult parties in
Continue Reading By Jordan Valinsky, CNN Business Ernst & Young has been slapped with a record $100 million fine from the US government after regulators discovered that the company knew some of its auditors were cheating on exams for several years and did nothing to stop it. The Securities and Exchange Commission said Tuesday that a “significant
Continue Reading By Rhea Mogul and Esha Mitra, CNN Delhi police have arrested a prominent Muslim journalist, accusing him of insulting religious beliefs on social media, in a move condemned by free speech advocates. Mohammed Zubair, co-founder of fact-checking website Alt News, which debunks misinformation in the Indian media, was arrested Monday and remanded overnight in police
Continue Reading By Laura He, CNN Business Tencent’s biggest shareholder will reduce its stake in the social media and gaming giant, just over a year after promising it would not sell the stock for three years. Prosus, a spin-off by South African media and internet investment firm Naspers, said Monday it will cut its huge stake in
Continue Reading By Rachel Metz, CNN Business Instagram is testing new ways to verify its youngest users’ ages, including by using artificial intelligence that analyzes a photo and estimates how old the user is. Meta-owned Instagram said in a blog post on Thursday that AI is one of three new methods it’s testing to verify users’ ages
Continue Reading By Chuck Johnston and Ramishah Maruf, CNN At least 800 flights were canceled across the United States on Monday afternoon, according to the flight-tracking website FlightAware. This follows another chaotic travel weekend with more than 1,500 domestic flights canceled Saturday and Sunday. Delta alone canceled at least 224 flights Monday, or 7% of its operations,
Continue Reading By Paul R. La Monica, CNN Business Plans to make former president Donald Trump’s media company public appear to have hit another roadblock. Digital World Acquisition Corp. — the special purpose acquisition company (SPAC) that has agreed to merge with Trump Media & Technology Group — said in a regulatory filing Monday that its board
Continue Reading By Oliver Darcy, CNN Business MSNBC announced on Monday that Alex Wagner will take over the network’s all-important 9pm time slot four days a week. The elevation of Wagner, made by MSNBC president Rashida Jones, is arguably the most important programming decision the network boss has made since taking over as head of the cable
Continue Reading By Frank Pallotta, CNN Business “Top Gun: Maverick” has flown to new heights. The sequel to the 1986 blockbuster, in which Tom Cruise reprises the famed role of Pete “Maverick” Mitchell, has crossed the $1 billion mark at the worldwide box office, according to Paramount. “Maverick” is the first film in Cruise’s more than 40-year
Continue Reading By Frank Pallotta, CNN Business “Top Gun: Maverick” has flown to new heights. The sequel to the 1986 blockbuster, in which Tom Cruise reprises the famed role of Pete “Maverick” Mitchell, has crossed the $1 billion mark at the worldwide box office, according to Paramount. “Maverick” is the first film in Cruise’s more than 40-year
Continue Reading By Rachel Metz, CNN Business Instagram is testing new ways to verify its youngest users’ ages, including by using artificial intelligence that analyzes a photo and estimates how old the user is. Meta-owned Instagram said in a blog post on Thursday that AI is one of three new methods it’s testing to verify users’ ages
Continue Reading By Clare Duffy, CNN Business In the wake of the Supreme Court’s controversial decision to overturn Roe v. Wade, people have flooded social media platforms with information about how to access in-person or medication abortions to help those in states that have outlawed the procedure or could soon do so. But the situation could create
Continue Reading By Jeanne Sahadi, CNN Business Whether or not the US economy falls into an official recession, there are still plenty of difficult financial and economic factors hitting investors and consumers. Take inflation. Prices in May rose 8.6% from a year ago — the fastest rate in 40 years. Add to that stocks that are now
Continue Reading By Paul R. La Monica, CNN Business The first half of the year was lousy for investors as stocks sank, cryptocurrencies crashed and even the supposedly less risky bond market performed poorly. That bond slump is bad news for conservative investors, retirees living on a fixed income and anyone trying to buy a house. But
Continue Reading By Catherine Thorbecke and Jennifer Korn, CNN Business Instagram-friendly meal kit service Daily Harvest is facing a firestorm of online backlash over the voluntary recall of one of its products, after a slew of people who consumed it reported becoming ill with mysterious symptoms, including extremely elevated liver enzymes. The direct-to-consumer brand has long utilized
Continue Reading By Chloe Melas, CNN Business Maria Shriver and Patrick Schwarzenegger are on a mission to educate you on your brain health. Shriver has been an outspoken advocate about Alzheimer’s. Her father, Robert Sargent Shriver, was diagnosed with the disease in 2003. That inspired her to create the nonprofit, The Women’s Alzheimer’s Movement. Now she and
Continue Reading