By Laura He, CNN Business China is urging central banks in the West not to hike interest rates too fast to fight inflation as it goes in the other direction to battle a sharp economic slowdown. Chinese President Xi Jinping on Monday called on major world economies to spur growth by coordinating their policies as
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By Michelle Toh, CNN Business Starbucks is joining forces with Chinese tech giant Meituan to expand delivery options in its second biggest market. The coffee chain announced Tuesday that it has teamed up with the popular food delivery app to roll out new offerings for customers in China. Now, consumers in mainland China will be
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The Downtown Community Improvement District (CID) announced a minority-owned business grant Monday to take steps towards making the Downtown Columbia area more diverse.
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By Sara Ashley O’Brien, CNN Business The parents of Austin McEwen, one of the six victims killed after a tornado pummeled an Amazon warehouse in Edwardsville, Illinois, last month, said Monday during a press conference that they are suing Amazon over the alleged wrongful death of their son. McEwen’s parents allege that the e-commerce giant,
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Opinion by Marco Lambertini, Gim Huay Neo and Elizabeth Mrema for CNN Business Perspectives Almost two years since the start of the Covid-19 pandemic, scientific breakthroughs powered by international collaboration have helped us create vaccines and other treatments that can help tackle the health crisis. But our broken relationship with the natural world continues to
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By Laura He, CNN Business Evergrande’s international creditors are losing patience. A group of the company’s overseas bondholders are threatening to take legal action over its “opaque” debt restructuring process, the latest sign of trouble for the embattled Chinese developer. They said in a statement Thursday they’ve had to “seriously consider enforcement actions” after Evergrande
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By Laura He, CNN Business China’s economy expanded 8.1% last year, far exceeding the government’s own targets. But weakening growth in the closing months of 2021 suggests that trouble is still on the horizon as the country contends with a deepening real estate crisis, renewed Covid outbreaks and Beijing’s strict no-tolerance approach to controlling the
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By Paul R. La Monica, CNN Business The stock market is like that old slogan for Timex watches. It takes a licking but keeps on ticking. Sure, it’s been a rocky start to the year on Wall Street following a stellar 2021. The Dow is down about 1% and the S&P 500 has fallen 2%.
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By Pete Muntean and Gregory Wallace, CNN Business Executives from the largest US airlines asked the Biden administration for “immediate intervention” in the planned rollout of 5G technology near major airports on Wednesday, warning of dire consequences for transportation and the economy. The representatives of 10 carriers asked the administration in a letter obtained by
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By Clare Duffy, CNN Business “Change is going to come. No question.” “We are serious about taking action.” “Here’s my message for Mark Zuckerberg: Your time of invading our privacy, promoting toxic content, and preying on children and teens is over. Congress will be taking action.” Facebook, now known as Meta, has faced scrutiny on
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By Julia Horowitz, CNN Business Unilever is willing to pay big money for the company that makes products like Advil, Tums and Aquafresh toothpaste as it tries to revive its sluggish stock and ramp up its focus on health products. GlaxoSmithKline said over the weekend that it had received three “unsolicited” proposals from Unilever to
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By Jordan Valinsky, CNN Business US airlines have canceled more than 1,200 flights Monday as a powerful winter storm packing rain, sleet and snow slammed the East Coast on the holiday weekend and made travel difficult. On Sunday, roughly 3,000 flights were canceled. Charlotte Douglas International Airport in North Carolina, an American Airlines hub, continues
Continue Reading By Jordan Valinsky, CNN Business US airlines have canceled more than 1,200 flights Monday as a powerful winter storm packing rain, sleet and snow slammed the East Coast on the holiday weekend and made travel difficult. On Sunday, roughly 3,000 flights were canceled. Charlotte Douglas International Airport in North Carolina, an American Airlines hub, continues
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By Frank Pallotta, CNN Business “We’re in the middle of a cold, dark winter,” James Austin Johnson as President Joe Biden said kicking off this weekend’s “Saturday Night Live.” “This winter is so dark, Republicans don’t think it should vote.” Johnson’s Biden then explained this virus has disrupted our lives, the holidays, gender reveal parties
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By Michelle Toh and Charles Riley, CNN Business Novak Djokovic has departed Australia after authorities canceled his visa for a second time. Now, one of his sponsors wants a word. Lacoste said Monday that it wants to review events that sparked a nearly two-week legal battle and prevented the unvaccinated Serbian from defending his Australian
Continue Reading By Michelle Toh and Charles Riley, CNN Business Novak Djokovic has departed Australia after authorities canceled his visa for a second time. Now, one of his sponsors wants a word. Lacoste said Monday that it wants to review events that sparked a nearly two-week legal battle and prevented the unvaccinated Serbian from defending his Australian
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By Michelle Toh, CNN Business The chairman of Credit Suisse has resigned following an investigation commissioned by the Swiss bank’s board that reportedly looked at claims that he broke Covid-19 rules. António Horta-Osório said in a statement issued by Credit Suisse on Monday that “a number of my personal actions have led to difficulties for
Continue Reading By Michelle Toh, CNN Business The chairman of Credit Suisse has resigned following an investigation commissioned by the Swiss bank’s board that reportedly looked at claims that he broke Covid-19 rules. António Horta-Osório said in a statement issued by Credit Suisse on Monday that “a number of my personal actions have led to difficulties for
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By Nectar Gan, CNN Business China’s birth rate plummeted for a fifth consecutive year to hit a new record low in 2021, despite government efforts to encourage couples to have more children in the face of a looming demographic crisis. The world’s most populous country recorded 10.62 million births last year, or only 7.5 births
Continue Reading By Laura He, CNN Business China’s economy expanded 8.1% last year, far exceeding the government’s own targets. But weakening growth in the closing months of 2021 suggests that trouble is still on the horizon as the country contends with a deepening real estate crisis, renewed Covid outbreaks and Beijing’s strict no-tolerance approach to controlling the
Continue Reading