By Jordan Valinsky, CNN Business Taco Bell is testing a new menu item with a beloved snack food. The fast-food chain hopes the creation can replicate the success of its Doritos shells. The experiment: A massive Cheez-It, which is 16 times the standard size, serves as the base for Taco Bell’s new “Big Cheez-It Tostada.”
Continue Reading By Laura He, CNN Business Shanghai Disneyland will reopen Thursday after a three-month hiatus, as China eases more Covid-related restrictions. Shanghai Disney Resort said Tuesday the park would resume operations “with limited daily capacity and enhanced health and safety protocols” in line with Chinese government regulations. “During the initial reopening phase, the majority of Shanghai
Continue Reading By Laura He, CNN Business China’s huge manufacturing and service industries just saw their first month of growth since February, according to surveys published Thursday, as Covid restrictions were eased in many cities. But the shadow of further lockdowns still looms over the world’s second biggest economy as Beijing sends mixed messages about the best
Continue Reading By Swati Gupta, Rhea Mogul, Esha Mitra and Alex Stambaugh, CNN Religious tensions are flaring in India following the killing of a Hindu man allegedly by two Muslim assailants as authorities attempt to stop video of the brutal attack from circulating online. Officials in the western city of Udaipur, Rajasthan state, announced a curfew and
Continue Reading By Philip Wang and Helen Regan, CNN Nobel Peace Prize laureate and journalist Maria Ressa said Tuesday the Philippine government has ordered her news organization Rappler to shut down. Ressa, CEO and founder of Rappler, released a statement during the East-West Center’s International Media Conference in Honolulu saying the Philippine Securities and Exchange Commission (PSEC)
Continue Reading By Frank Pallotta, CNN Business Bob Chapek isn’t going anywhere. Disney’s board of directors unanimously voted to extend Chapek’s contract as CEO for another three years, the company said Tuesday. His new contract begins July 1 and runs until 2025. The news is notable not only because Disney is one of the biggest and best
Continue Reading By Michelle Toh, CNN Business Disney is bringing BTS to its streaming services, adding the world’s biggest band to its roster of digital stars. In an announcement shared first with CNN Business, the entertainment giant said Monday that it would add new original shows featuring members of the South Korean pop group to Disney+. That
Continue Reading By Brian Fung and Clare Duffy, CNN Business In the wake of the Supreme Court’s decision to overturn Roe v. Wade, privacy advocates have expressed renewed concerns about how tech platforms may handle requests from law enforcement for user data in states that outlaw abortion. But whether tech companies intend to hand over data on
Continue Reading By Catherine Thorbecke, CNN Business Airbnb said Tuesday it will make permanent a ban on parties originally implemented in the early months of the pandemic, citing its effectiveness at curbing unauthorized gatherings. The company announced a temporary ban on all parties in August 2020 as part of an effort to mitigate the spread of Covid-19
Continue Reading By Jeanne Sahadi, CNN Business Inspire your team. Deliver results. Keep costs under control. Those have always been top responsibilities for leaders and managers at work. But their job duties have grown more time-consuming and complex thanks to the stress of the pandemic, searing political discord, urgent social justice issues, geopolitical earthquakes, the Great Resignation
Continue Reading By Paul R. La Monica, CNN Business The prices of bitcoin and other top cryptocurrencies have been more than cut in half this year. Now the great crypto crash of 2022 is crushing leading digital asset brokerage firms Coinbase and Robinhood too. Shares of Coinbase have lost nearly three-quarters of their value in 2022, and
Continue Reading By Alicia Wallace, CNN Business US consumer confidence continues to sour in the face of high gas and food prices and rising recession risks, according to new data released Tuesday from The Conference Board. The consumer confidence index for June dropped to 98.7 from May’s revised reading of 103.2, which was adjusted downward by more
Continue Reading By Alicia Wallace, CNN Business US home prices ran hot again in April, notching another month of more than 20% year-over-year gains, according to the latest S&P CoreLogic Case Shiller US National Home Price Index data, released Tuesday. Home prices rose 20.4% in April from the year before, compared to a 20.6% rise seen in
Continue Reading By Julia Horowitz, CNN Business A growing number of investors have come to the conclusion that a recession in the United States is probably looming, fueling a sharp sell-off in stocks and bonds as Wall Street braces for impact. What’s happening: A shallow recession late this year or early next year is “becoming the consensus
Continue Reading By Nicole Goodkind, CNN Business Retailers typically want their sales numbers to be red hot, not their customers. But Bed Bath & Beyond is reportedly dealing with cooled momentum and heated customers at its stores. A new report from Bank of America claims that the company has cut air conditioning in an effort to quickly
Continue Reading By Julia Horowitz, CNN Business This week, Russia defaulted on its foreign debt for the first time since the Bolshevik revolution after it failed to pay interest on two bonds during a 30-day grace period that expired Sunday. But to put the event in context, we don’t need to go as far back as 1918.
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors has said that Cadillac, its luxury brand, will lead the automaker into the electric future. It will be the first GM brand to go all-electric and its first EV model is the Cadillac Lyriq, a crossover SUV that’s one of the best Cadillacs I’ve driven in a long
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors has said that Cadillac, its luxury brand, will lead the automaker into the electric future. It will be the first GM brand to go all-electric and its first EV model is the Cadillac Lyriq, a crossover SUV that’s one of the best Cadillacs I’ve driven in a long
Continue Reading By Michelle Toh, CNN Business British taxpayers now officially hold shares in a company that throws sex parties. A government loan provided to Killing Kittens to help it through the pandemic has converted into an equity stake in the company, the British Business Bank confirmed on Tuesday. Killing Kittens, which organizes women-led adult parties in
Continue Reading By Jordan Valinsky, CNN Business Ernst & Young has been slapped with a record $100 million fine from the US government after regulators discovered that the company knew some of its auditors were cheating on exams for several years and did nothing to stop it. The Securities and Exchange Commission said Tuesday that a “significant
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