Money

By Nathaniel Meyersohn, CNN Business Walmart will end its quarterly bonuses for US store workers in January after it raises its hourly minimum wage from $11 to $12, eliminating a longstanding perk for workers. Walmart, the largest private employer in the United States, has for decades paid the bonuses to its approximately 1.2 million hourly

By Matt Egan, CNN Business Federal Reserve Chairman Jerome Powell has been criticized by progressives for going soft on big banks and not doing enough to address the climate crisis. Now, a lifelong Republican is joining that critique. Sheila Bair, one of the few American regulators who sounded the alarm prior to the subprime mortgage

By Nathaniel Meyersohn, CNN Business Amazon is offering to cover four-year college tuition for most of its approximately 750,000 hourly workers in the United States, the latest major employer to offer the perk to attract and retain hourly employees in a tight job market. Starting in January, Amazon for the first time will pay for

By Jordan Valinsky and Diksha Madhok, CNN Business Ford is ending production in India and taking a hit of $2 billion as it retrenches from a market that has been almost impossible for American automakers to break into. In an announcement Thursday, the company said that roughly 4,000 employees will be laid off and manufacturing

By Hanna Ziady, CNN Business Cathie Wood, the CEO of Ark Invest, is reportedly slashing her exposure to China, and switching to stocks that are in Beijing’s good books. The Wall Street superstar revealed Thursday that her fund has significantly reduced its exposure to China amid sweeping regulatory changes that have made the investment environment

By Angela Dewan, International Climate Editor Australian Prime Minister Scott Morrison all but admitted Thursday that his country had asked UK negotiators to exclude particular climate commitments from a free trade deal agreed in principle in June. The UK government, which is chairing November’s COP26 international climate talks, as well as Australia’s have come under

By Charles Riley, CNN Business On Tuesday, the Reserve Bank of Australia ripped off the stimulus band-aid and confirmed that it would start to scale back its bond-buying program this month despite concerns about the impact of the Delta coronavirus variant on the economy. The European Central Bank followed suit on Thursday, saying that it

By Jordan Valinsky, CNN Business Taco Bell has a plan in place to recycle some of the 8 billion pounds of used sauce packets that go into US landfills every year. The fast food chain is rolling out a nationwide pilot program for customers to send used sauce packets back through the mail. The program,

By Jordan Valinsky, CNN Business Burger King’s menu is getting a big makeover and its customers might not even notice. That’s why Burger King is hiring celebrities to promote the changes. The burger chain announced Thursday that it’s banning 120 artificial ingredients from its food, ranging from the ketchup to buns, as part of its

Opinion by Mark Zandi for CNN Business Perspectives It has been a trying 18 months since the pandemic first struck, and it appears it will take another 18 months for the economy to be free and clear of the impact of Covid-19. When the vaccines for Covid-19 became widely available this spring, there was widespread