By Nicole Goodkind, CNN Business The Federal Reserve’s aggressive tightening policy has led the US dollar to appreciate to multi-decade highs, squashing currencies around the world. Now, a United Nations agency is warning that its actions, along with those of other central banks, risk pushing the global economy into recession. What’s happening: In a new
Continue Reading By Catherine Thorbecke, CNN Business Elon Musk drew backlash on Monday from Ukrainian officials, including President Volodymyr Zelensky, for his unsolicited advice on how to bring about “peace” amid Russia’s ongoing invasion of the country. In a Twitter poll, Musk suggested a path to “Ukraine-Russia Peace” that included re-doing elections “under UN supervision” in the
Continue Reading By Parija Kavilanz, CNN Business What staffing shortage? One Miami Chick-fil-A owner/operator has been deluged with applications after switching his staff to a three-day, 14-hour workweek. Justin Lindsey was looking for a novel way to reward workers who were “literally working 70 hours a week, week in and week out,” he recently told QSR magazine.
Continue Reading By Anna Cooban, CNN Business It wasn’t hard for Samantha Losey, managing director of Unity, a public relations firm in London, to convince her team to work fewer hours for the same paycheck. But it was an uphill battle to persuade her own board to join the world’s biggest pilot of the four-day work week.
Continue Reading By Paul R. La Monica, CNN Business Major CEOs aren’t buying the notion that the US economy could have a soft landing following a series of historically large interest rate hikes by the Federal Reserve to fight inflation. According to a survey of 400 leaders of large US companies by consulting firm KPMG, a whopping
Continue Reading By Parija Kavilanz, CNN Business South Korean internet giant Naver is acquiring leading online resale platform Poshmark for $1.2 billion, the companies announced Monday. Under the terms of the deal, Naver is paying $17.90 a share in an all-cash deal. Poshmark shares rose 14% in after-hours trading on the news. Naver, which operates a search
Continue Reading By Matt Egan, CNN Business US Rep. Ro Khanna is calling for the White House to retaliate against Saudi Arabia if OPEC and its allies slash oil production in a bid to boost prices. “This is beyond the pale,” the California Democrat told CNN in a phone interview on Monday. “They are actively fleecing the
Continue Reading By Catherine Thorbecke, CNN Business Elon Musk drew backlash on Monday from Ukrainian officials, including President Volodymyr Zelensky, for his unsolicited advice on how to bring about “peace” amid Russia’s ongoing invasion of the country. In a Twitter poll, Musk suggested a path to “Ukraine-Russia Peace” that included re-doing elections “under UN supervision” in the
Continue Reading By Parija Kavilanz, CNN Business Tupperware containers will now be available at Target, in a major shift for the 76-year-old brand. Generally the company has sold its plastic food storage containers solely through in-home “Tupperware parties” or its own website — save a few brief and limited pilot programs with retailers HomeGoods, Bed Bath and
Continue Reading By Alicia Wallace, CNN Business The devastation wrought by Hurricane Ian likely caused more than $50 billion in damages — and also dinged overall US economic output, economists say. Initial damages from the deadly storm are estimated to be in the range of $45 billion to $55 billion in Florida and at least several billion
Continue Reading By Alicia Wallace, CNN Business The devastation wrought by Hurricane Ian likely caused more than $50 billion in damages — and also dinged overall US economic output, economists say. Initial damages from the deadly storm are estimated to be in the range of $45 billion to $55 billion in Florida and at least several billion
Continue Reading By Rachel Metz, CNN Business Elizabeth Holmes, the founder of failed blood testing startup Theranos who was convicted of fraud earlier this year, may not be sentenced until next year after the judge in the case decided to allow a hearing later this month to address defense concerns about a key witness’s testimony. During a
Continue Reading By Chris Isidore, CNN Business Could Wall Street’s love affair with Elon Musk be over? Six months ago Tesla shares were flying high. The company was valued at $1.1 trillion — more than a dozen other top automakers combined — and announcing plans for a proposed stock split. Then Musk disclosed he had become the
Continue Reading By Parija Kavilanz, CNN Business In the spirit of holiday cheer, here’s the good news first: Christmas tree farms say this year’s harvest looks good and they don’t expect shortages. But here’s the reality check. Expect to pay more for that perfect fir, pine or spruce compared to last year. As with so many products
Continue Reading By Parija Kavilanz, CNN Business In the spirit of holiday cheer, here’s the good news first: Christmas tree farms say this year’s harvest looks good and they don’t expect shortages. But here’s the reality check. Expect to pay more for that perfect fir, pine or spruce compared to last year. As with so many products
Continue Reading By Paul R. La Monica, CNN Business Stocks kicked off October with more treats than tricks for investors. The market rallied to begin the fourth quarter, despite growing worries about the financial health of European banking giant Credit Suisse and weak economic data. The Dow rose 765 points, or 2.7%. That was its biggest gain
Continue Reading
COLUMBIA, Mo. (KMIZ) The Missouri State Treasurer’s Office plans to give Missourians a chance to purchase some interesting items in Columbia this week. Officials will hold an unclaimed property auction at the Hilton Garden Inn Conference Center at 3200 Vandiver Dr. The auction is scheduled to start Monday and Tuesday at 9 a.m. each day.
Continue Reading By Nathaniel Meyersohn, CNN Business Freebies are back at the grocery store after a long pandemic hiatus. Trader Joe’s brought back in-store food samples at some stores on Saturday. Shoppers posted videos and photos on TikTok, Instagram and other social platforms of some of Trader Joe’s samples over the weekend, including granola and Halloween cookies.
Continue Reading By Jordan Valinsky, CNN Business Kentucky Fried Chicken is bringing back a fan favorite after a nearly decade-long hiatus. Beginning Monday, KFC is adding wraps to its menus at select Atlanta-area restaurants for a limited time. Fans have been demanding the company bring back the items previously called “KFC Twister Wraps” since they were pulled
Continue Reading By Chris Isidore and Matt Egan, CNN Business Kim Kardashian agreed to pay a $1.26 million fine to the Securities and Exchange Commission to settle civil charges after the reality TV star touted a crypto asset, EthereumMax, on Instagram. The SEC charged Kardashian with failure to disclose that she was paid $250,000 to publish her
Continue Reading