By Brian Fung, CNN A member of the Federal Communications Commission is renewing calls for Apple and Google to remove TikTok from their app stores, citing national security concerns surrounding TikTok’s Chinese-based parent company, ByteDance. In a June 24 letter to the CEOs of Apple (AAPL) and Google (GOOGL), FCC Commissioner Brendan Carr described ByteDance
Continue Reading By Anna Cooban, CNN Business It’s getting harder for shoppers in the United Kingdom to find Heinz baked beans. Blame food price inflation. Tesco, the country’s biggest supermarket chain, has stopped selling some products made by Kraft Heinz in a dispute over prices. Kraft Heinz is behind some of the country’s favorite pantry staples, including
Continue Reading By Anna Cooban, CNN Business It’s getting harder for shoppers in the United Kingdom to find Heinz baked beans. Blame food price inflation. Tesco, the country’s biggest supermarket chain, has stopped selling some products made by Kraft Heinz in a dispute over prices. Kraft Heinz is behind some of the country’s favorite pantry staples, including
Continue Reading By Jordan Valinsky, CNN Business Unilever has sold its Ben & Jerry’s business in Israel to its distributor in the country, following ongoing controversy related to its activities in Israel and the West Bank. Unilever announced Wednesday the sale for an undisclosed amount to American Quality Products (AQP), which distributes Ben & Jerry’s in Israel.
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 Paul R. La Monica, CNN Business Cruise giant Carnival was hit hard during the worst of the pandemic. Now, a top Wall Street analyst has issued a dire potential outlook for the company in the case of recession. Morgan Stanley’s Jamie Rollo outlined a worse-case scenario: Carnival stock could fall to $0 in the
Continue Reading By Lucy Bayly, CNN Business It’s not yet clear if the US economy will ever return to its pre-pandemic status, Federal Reserve Chairman Jerome Powell said Wednesday at a central banker forum in Portugal. “The economy is being driven by very different forces. What we don’t know is whether we’ll be going back to something
Continue Reading By Kathleen Magramo, CNN Journalists from leading international media organizations, including Reuters and CNN, have been barred from covering official ceremonies during Chinese leader Xi Jinping’s visit to Hong Kong later this week. Xi will be in Hong Kong to mark the 25th anniversary of the city’s handover from Britain to China, and it will
Continue Reading By Alicia Wallace, CNN Business The US economy shrank at a slightly faster rate than previously estimated during the first quarter, the Bureau of Economic Analysis said Wednesday. With one quarter of negative economic growth in the books, the data adds to fears that a recession may be looming. Real gross domestic product declined at
Continue Reading Opinion by Dana Peterson for CNN Business Perspectives Aside from, “You’re on mute,” “I quit” has likely become one of the most popular sayings in the US over the last two years. But while more people are returning to in-person meetings, quitting does not appear to be letting up. Indeed, an astounding 4.4 million people
Continue Reading By Alicia Wallace, CNN Business Buy Now, Pay Later installment plans have become popular among consumers seeking to spread out the cost of big-ticket purchases. But now, rising prices have some cash-strapped shoppers reaching for these alternative payment methods for everyday purchases, such as their daily coffee, gas station fill-up or grocery run, as well.
Continue Reading By Jordan Valinsky, CNN Business Bed Bath and Beyond CEO Mark Tritton is out after only three years at the helm of the rapidly sinking retailer. The beleaguered company announced multiple changes to its leadership Wednesday, including replacing Tritton. In the interim, Bed Bath and Beyond has tapped Sue Grove, an independent director on the
Continue Reading By Julia Horowitz, CNN Business A growing number of investors have come to the conclusion that a recession in the United States is probably looming, fueling a sharp sell-off in stocks and bonds as Wall Street braces for impact. What’s happening: A shallow recession late this year or early next year is “becoming the consensus
Continue Reading By Danielle Wiener-Bronner, CNN Business Coca-Cola has another new flavor. This time, it got some help. The latest product out of Coca-Cola Creations — Coke’s innovation platform, which brought us starlight and pixel-flavored sodas — is a collaboration with Marshmello, a masked DJ and electronic music producer. If you think the artist worked with Coke
Continue Reading By Jordan Valinsky, CNN Business Taco Bell is testing a new menu item with a beloved snack food. The fast-food chain hopes the creation can replicate the success of its Doritos shells. The experiment: A massive Cheez-It, which is 16 times the standard size, serves as the base for Taco Bell’s new “Big Cheez-It Tostada.”
Continue Reading By Laura He, CNN Business China’s huge manufacturing and service industries just saw their first month of growth since February, according to surveys published Thursday, as Covid restrictions were eased in many cities. But the shadow of further lockdowns still looms over the world’s second biggest economy as Beijing sends mixed messages about the best
Continue Reading By Laura He, CNN Business Shanghai Disneyland will reopen Thursday after a three-month hiatus, as China eases more Covid-related restrictions. Shanghai Disney Resort said Tuesday the park would resume operations “with limited daily capacity and enhanced health and safety protocols” in line with Chinese government regulations. “During the initial reopening phase, the majority of Shanghai
Continue Reading By Swati Gupta, Rhea Mogul, Esha Mitra and Alex Stambaugh, CNN Religious tensions are flaring in India following the killing of a Hindu man allegedly by two Muslim assailants as authorities attempt to stop video of the brutal attack from circulating online. Officials in the western city of Udaipur, Rajasthan state, announced a curfew and
Continue Reading By Philip Wang and Helen Regan, CNN Nobel Peace Prize laureate and journalist Maria Ressa said Tuesday the Philippine government has ordered her news organization Rappler to shut down. Ressa, CEO and founder of Rappler, released a statement during the East-West Center’s International Media Conference in Honolulu saying the Philippine Securities and Exchange Commission (PSEC)
Continue Reading By Frank Pallotta, CNN Business Bob Chapek isn’t going anywhere. Disney’s board of directors unanimously voted to extend Chapek’s contract as CEO for another three years, the company said Tuesday. His new contract begins July 1 and runs until 2025. The news is notable not only because Disney is one of the biggest and best
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