By Ramishah Maruf, CNN Business There are difficult bosses. Then there are bosses who dump over 500 pounds of greasy pennies onto an ex-employee’s driveway. The US Department of Labor filed a lawsuit late last month against a Georgia auto repair shop for violating federal labor law, after its owner retaliated against a former employee
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By Ramishah Maruf, CNN Business Katie Harbath worked for 10 years inside Facebook, where she was most recently the company’s public policy director managing elections. Now, she’s the founder and CEO of Anchor Change, and on “Reliable Sources” Sunday, she spoke out about her old company and its role in democracy. Harbath said Facebook shouldn’t
Continue Reading By Ramishah Maruf, CNN Business Katie Harbath worked for 10 years inside Facebook, where she was most recently the company’s public policy director managing elections. Now, she’s the founder and CEO of Anchor Change, and on “Reliable Sources” Sunday, she spoke out about her old company and its role in democracy. Harbath said Facebook shouldn’t
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By Allison Morrow, CNN Business Confused about inflation? You’re not alone. Inflation is, paradoxically, both incredibly simple to understand and absurdly complicated. Let’s start with the simplest version: Inflation happens when prices broadly go up. That “broadly” is important: At any given time, the price of goods will fluctuate based on shifting tastes. Someone makes
Continue Reading By Allison Morrow, CNN Business Confused about inflation? You’re not alone. Inflation is, paradoxically, both incredibly simple to understand and absurdly complicated. Let’s start with the simplest version: Inflation happens when prices broadly go up. That “broadly” is important: At any given time, the price of goods will fluctuate based on shifting tastes. Someone makes
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By Paul R. La Monica, CNN Business The prospect of higher interest rates this year is spooking investors in tech stocks and other high growth sectors. But it’s a different story for big banks. Bank stocks are off to a solid start in 2022, extending gains from the second half of last year. The Invesco
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By Ramishah Maruf, CNN Business Wonder what those green and yellow tiles all over your social media feeds are? It’s Wordle, a new no-frills word game that has charmed the internet. Think of it as Mastermind, but with words instead of colored pegs. Or a mini crossword without clues. You start by choosing any five-letter
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By Samantha Murphy Kelly and Clare Duffy, CNN CES, the closely-watched annual consumer electronics show, looked drastically different this year. Sure, some things were familiar: companies showed off the latest batch of flashy TVs. The onslaught of oddball gadgets got odder. And there was no shortage of next-level health trackers, including a lightbulb that tracks
Continue Reading By Samantha Murphy Kelly and Clare Duffy, CNN CES, the closely-watched annual consumer electronics show, looked drastically different this year. Sure, some things were familiar: companies showed off the latest batch of flashy TVs. The onslaught of oddball gadgets got odder. And there was no shortage of next-level health trackers, including a lightbulb that tracks
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By Nathaniel Meyersohn, CNN Business Looking to buy Nike sneakers, Adidas sweats, Crocs clogs, Polo shirts or Canada Goose parkas? You’re likely to have better luck these days snagging them from their own stores or on their websites than at mom-and-pops and smaller chains. These major brands and other top shoe and clothing labels are
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By Allison Morrow, CNN Business If you haven’t secured a raise in a while, now’s the time to make your move. Yes, inflation is high, supply chains are still a mess, unionization efforts are taking root across industries and retail theft is on the rise — all legitimate headaches for employers. But Corporate America has
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By Ramishah Maruf, CNN Business Amazon is shortening its Covid-19 isolation policy to seven days from 10, for a total of up to 40 hours of paid leave, the company announced to employees Friday. The policy change is effective immediately and applies to all its US employees regardless of vaccination status. The decrease in paid
Continue Reading By Frank Pallotta, CNN Business In a turbulent year when the pandemic continued to upend the business of movie-going and streaming blockbusters at home became commonplace, one thing returned to normal: Disney topped the box office. Disney was Hollywood’s top studio in North America last year with a 25% market share at the box office.
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By Ramishah Maruf, CNN Business The calendar changed, but the roller coaster ride for GameStop’s stock continues. GameStop shares jumped as much as 20% Friday morning after the Wall Street Journal reported the company is creating a nonfungible token, or NFT, marketplace. After a wild 2021 for the video game retailer as a “meme stock”
Continue Reading By Ramishah Maruf, CNN Business The calendar changed, but the roller coaster ride for GameStop’s stock continues. GameStop shares jumped as much as 20% Friday morning after the Wall Street Journal reported the company is creating a nonfungible token, or NFT, marketplace. After a wild 2021 for the video game retailer as a “meme stock”
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By Anneken Tappe, CNN Business 2021 was a historically great year for jobs. So why didn’t it feel that way? The short answers: Economists were befuddled. You were paying closer-than-usual attention. And months after a series of bad headlines subsided, the job situation quietly improved. Confused? Don’t worry. Pretty much everyone is. We’ll take you
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By Jennifer Korn Tim Cook had a very good year. Apple’s CEO received nearly $100 million in total compensation in 2021, a sixfold increase from the prior year, according to a proxy statement filed by the company on Thursday. Cook’s $98.7 million pay package was largely made up of roughly $82 million in stock awards.
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By Danielle Wiener-Bronner, CNN Business Papa Johns is making a big bet on China. The pizza chain plans to open over 1,350 stores in South China by 2040 in partnership with the Asian private equity firm FountainVest Partners, it said on Friday. The deal will increase Papa Johns current global count by 25%, and marks
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By Parija Kavilanz, CNN Business Kanye West is expanding his sellout Yeezy Gap line by bringing on luxury fashion powerhouse brand Balenciaga. Gap announced Friday that the tieup, branded as “Yeezy Gap Engineered By Balenciaga,” pairs Ye’s creative vision with Balenciaga’s creative director, Demna Gvasalia. Gvasalia is the 40-year-old Georgian designer who has been designing
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By Allison Morrow and Anneken Tappe, CNN Business One of the more insidious myths this year was that young people didn’t want to work because they were getting by just fine on government aid. People had too much money, went the narrative. Only trouble is, the numbers don’t back it up. Instead, early retirement —
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