By Allison Morrow, CNN Business Despite all the buzz about the “Great Resignation” and a renaissance for the working classes in America, a new report finds the gap between executive and worker pay is only widening. The typical low-wage worker’s pay didn’t keep pace with inflation last year at more than a third of the
Continue Reading By Julia Horowitz, CNN Business Foreign investors lost their nerve on parking money in China over the past year, as Beijing cracked down on the country’s biggest tech companies, the real estate sector stumbled and coronavirus lockdowns crimped growth. Once a beacon of opportunity, the world’s second biggest economy looked like a difficult bet. “People
Continue Reading By Julia Horowitz, CNN Business Foreign investors lost their nerve on parking money in China over the past year, as Beijing cracked down on the country’s biggest tech companies, the real estate sector stumbled and coronavirus lockdowns crimped growth. Once a beacon of opportunity, the world’s second biggest economy looked like a difficult bet. “People
Continue Reading By Michelle Toh, CNN Business KFC has been forced to make menu changes again in Australia, as the fast food chain is hit with shortages of key ingredients. This time it’s lettuce. The company posted a notice on its local website this week telling customers it would add cabbage to some of its products because
Continue Reading By Laura He, CNN Business Shares in Chinese tech companies have surged this week on hopes that Beijing is close to ending a yearlong regulatory crackdown on the industry. Alibaba was up 1.9% on Tuesday, following a 5% gain on Monday. JD.com climbed 3%, after rising 4.7% the previous day. Other tech shares have also
Continue Reading By Samantha Murphy Kelly, CNN Business Apple kicked off its annual developer conference by unveiling its next-generation mobile software, iOS 16, with new features that will let users personalize their iPhone lock screens, change how they text friends through iMessage and deepen how its smartphones integrate with cars. These and other updates, which were unveiled
Continue Reading By Oliver Darcy, CNN Business The Washington Post has suspended reporter David Weigel for one month without pay for retweeting a sexist joke, two people familiar with the matter told CNN on Monday. Weigel did not respond to a request for comment, but an out-of-office reply from his Post email address said that he would
Continue Reading By Anna Cooban, CNN Business Thousands of UK workers are starting a four-day work week from Monday with no cut to their pay in the largest trial of its kind. The pilot, which will last for six months, involves 3,300 workers spanning 70 companies, ranging from providers of financial services to a fish-and-chip restaurant. During
Continue Reading By Jordan Valinsky, CNN Business Wendy’s is adding a new Frosty to its lineup — its first new flavor in nearly three years. Beginning Monday, a strawberry Frosty is on US menus for a limited time. Prices for the new Frosty vary by city, and strawberry is temporarily replacing vanilla -— though Wendy’s promised that
Continue Reading By Paul R. La Monica, CNN Business This year has so far been miserable for investors in social media companies. Shares of Facebook and Instagram owner Meta Platforms have plunged more than 40% so far in 2022. Investors are concerned about CEO Mark Zuckerberg’s plans to transform the company into a metaverse player … whatever
Continue Reading By Paul R. La Monica, CNN Business This year has so far been miserable for investors in social media companies. Shares of Facebook and Instagram owner Meta Platforms have plunged more than 40% so far in 2022. Investors are concerned about CEO Mark Zuckerberg’s plans to transform the company into a metaverse player … whatever
Continue Reading By Chris Isidore, CNN Business Russia’s invasion of Ukraine is a major reason that US drivers are paying record prices for gasoline. But it’s not the only cause of the spike. Numerous factors are pushing prices up, with regular gasoline hitting a record $4.87 a gallon Monday according to AAA’s survey — up 25 cents
Continue Reading By Nicole Goodkind, CNN Business The pandemic brought a wave of new investors into the stock market. And now those newbies are facing their first major market downturn. Some Millennials and Gen Z-ers found themselves jobless and bored during peak Covid, yet flush with sudden access to cash through stimulus programs and increased federal unemployment
Continue Reading By Matt Egan The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month. There are now 10 states where the average price of gasoline is $5 a gallon or higher,
Continue Reading By Chris Isidore, CNN Business Tesla may not be cutting staff after all. That’s according to a tweet from its ever-mercurial CEO Elon Musk — an apparent contradiction to two emails he sent staff last week about planned job cuts and a hiring freeze, which pushed Tesla shares lower. Last Thursday, according to a Reuters
Continue Reading By Brian Fung, CNN Business Elon Musk issued his most direct threat yet to walk away from his purchase of Twitter on Monday, openly accusing the social media company of breaching the merger agreement by not providing the data he has requested on spam and fake accounts. In a letter to Twitter’s head of legal,
Continue Reading By Zoe Sottile, CNN Tattooed crew members at British airline Virgin Atlantic are now welcome to show off their ink while in uniform. The airline updated its policy regarding tattoos on Tuesday, according to a news release. They claim they are “the first UK airline to allow visible tattoos.” “Until today, any uniformed Virgin Atlantic
Continue Reading By Matt Egan The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month. There are now 10 states where the average price of gasoline is $5 a gallon or higher,
Continue Reading By Matt Egan The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month. There are now 10 states where the average price of gasoline is $5 a gallon or higher,
Continue Reading By Anna Cooban, CNN Business Thousands of UK workers are starting a four-day work week from Monday with no cut to their pay in the largest trial of its kind. The pilot, which will last for six months, involves 3,300 workers spanning 70 companies, ranging from providers of financial services to a fish-and-chip restaurant. During
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