By Chris Isidore, CNN Business Hertz is going public again. The rental car company, which filed for bankruptcy early in the pandemic and emerged on June 30, has filed paperwork with the Securities and Exchange Commission for an initial public offering. The company signaled its plans for the IPO in August when it reported second
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By Sara Ashley O’Brien, CNN Business This week in the criminal trial of Theranos founder Elizabeth Holmes, jurors heard from a second former lab director of the blood-testing startup, former executives of the two major retailers that inked deals with the failed company, as well as the beginning of testimony from a former employee who
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By Parija Kavilanz, CNN Business Beauty addicts beware. Your Sephora addiction is about to get a whole lot worse. Sephora has launched a same-day delivery service just ahead of the holiday shopping season, which is set up to deliver purchases within two hours for a fee. Here’s how it works: customers who place an order
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By Nathaniel Meyersohn and Danielle Wiener-Bronner, CNN Business Thanksgiving 2021 may feel a lot more like a normal holiday than last year’s — many Americans have been vaccinated, and restrictions have eased across the country. And that means bigger turkeys are back, too. Grocery chains and retail analysts are expecting people to have bigger gatherings
Continue Reading By Nathaniel Meyersohn and Danielle Wiener-Bronner, CNN Business Thanksgiving 2021 may feel a lot more like a normal holiday than last year’s — many Americans have been vaccinated, and restrictions have eased across the country. And that means bigger turkeys are back, too. Grocery chains and retail analysts are expecting people to have bigger gatherings
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By Nathaniel Meyersohn, CNN Business Jay Foreman, the chief executive of toymaker Basic Fun, was in a bind over the summer. The end-of-year holiday shopping rush was quickly approaching, but Foreman was struggling to book shipping containers to ferry the company’s toys, which include Tonka trucks, Care Bears and Cutetitos. And when he did find
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By Allison Morrow, CNN Business It’s almost 2022, but 2020 isn’t done with us yet. Despite good news about Covid-19 vaccinations, a solid economic rebound and seemingly boundless optimism on Wall Street, we’re nowhere near out of the woods. The global supply chain is a wreck. Europe and Asia are facing a potentially crippling energy
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By Rishi Iyengar, CNN Business An Apple employee who led organizing efforts against harassment and discrimination within the company said she has been fired. Janneke Parrish, a program manager at Apple and one of the organizers of the #AppleToo movement, was suspended late last week and terminated on Thursday, she told CNN Business in an
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By Kristin Fisher and Jackie Wattles, CNN Mark “Forger” Stucky, who for six years headed the test pilot program at space company Virgin Galactic before he says he was fired earlier this year, is taking a job with the company’s chief competitor, Blue Origin. Stucky said he will join Blue Origin’s “Advanced Development Programs” team,
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By Frank Pallotta, CNN Business This weekend, millions of people will head to a movie theater to watch a film about an escaped inmate wearing a washed out William Shatner mask, who terrorizes a small Illinois town with a giant butcher knife. Or they’ll just stay home and watch it on Peacock. Either way, killer
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By Matt Egan, CNN Business Senator Elizabeth Warren is accelerating her push to break up Amazon, arguing that the $1.7 trillion company is simply too powerful. “Amazon has the power and uses it to smash little businesses before they ever get a foothold,” the Massachusetts Democrat told CNN in a phone interview. Warren argues it’s
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By Paul R. La Monica, CNN Business Wall Street powerhouse Goldman Sachs reported earnings that easily topped analysts’ expectations, capping a stellar week of bank results and helping to power the broader market to solid gains Friday. Goldman Sachs said that it posted a profit of $5.4 billion for the third quarter, which works out
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By Paul R. La Monica, CNN Business Bitcoin prices continued their October surge on Friday, topping $60,000 on hopes that the Securities and Exchange Commission will soon approve a bitcoin futures exchange-traded fund. Cryptocurrency investors were excited by a tweet from the verified account of the SEC’s Office of Investor Education and Advocacy late Thursday
Continue Reading By Paul R. La Monica, CNN Business Bitcoin prices continued their October surge on Friday, topping $60,000 on hopes that the Securities and Exchange Commission will soon approve a bitcoin futures exchange-traded fund. Cryptocurrency investors were excited by a tweet from the verified account of the SEC’s Office of Investor Education and Advocacy late Thursday
Continue Reading Opinion by Chuck Collins for CNN Business Perspectives The revelations from the Pandora Papers have rocked the world. They showed that wealthy celebrities, political figures, billionaires and heads of state around the globe are sheltering assets in offshore tax havens, including here in the United States. As with the Panama Papers that were released five
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By Peter Valdes-Dapena, CNN Business The all-electric Mercedes EQS may well be one of the most important cars in company’s history. And that’s saying a lot, because that’s a whole bunch of history. Mercedes-Benz and its direct ancestor companies have been making internal combustion-powered automobiles longer than any company on Earth. Karl Benz applied for
Continue Reading By Peter Valdes-Dapena, CNN Business The all-electric Mercedes EQS may well be one of the most important cars in company’s history. And that’s saying a lot, because that’s a whole bunch of history. Mercedes-Benz and its direct ancestor companies have been making internal combustion-powered automobiles longer than any company on Earth. Karl Benz applied for
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By Nathaniel Meyersohn, CNN Business Prices on consumer goods are rising in the United States and tangled supply chains are making it harder for shoppers to always get exactly what they want. But these factors are not yet slowing down US shoppers. Consumers are still dishing out on sporting goods, clothing, furniture, and groceries and
Continue Reading By Julia Horowitz, CNN Business The biggest US banks move trillions of dollars around the world every day. That gives them a unique lens on how the economy is functioning, both in the United States and globally. And despite concerns about inflation, workers quitting, supply chain issues and slowing growth, bank executives just delivered a
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By Walé Azeez, CNN Business Virgin Galactic has pushed back the start of full commercial service to the fourth quarter of next year, sending shares in the space tourism company founded by billionaire Richard Branson down sharply. The stock dropped 14% in early trading on Friday after Virgin Galactic said it was making schedule changes
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