By Julia Horowitz, CNN Business Few investors will have experienced a tougher beginning to a year than the six-month stretch that just finished. Professionals have been beaten down, while amateur traders — used to 2021’s eye-popping rallies — were dealt a harrowing reality check. What’s happening: The S&P 500 notched its worst start since 1970,
Continue Reading By Jordan Valinsky, CNN Business Kohl’s is no longer for sale. The department store announced Friday that it has ended its strategic review process and will no longer consider selling itself to Franchise Group, a holding company that owns The Vitamin Shoppe and other retail brands. Kohl’s blamed extreme market volatility and said its finances
Continue Reading By Jordan Valinsky, CNN Business Kohl’s is no longer for sale. The department store announced Friday that it has ended its strategic review process and will no longer consider selling itself to Franchise Group, a holding company that owns The Vitamin Shoppe and other retail brands. Kohl’s blamed extreme market volatility and said its finances
Continue Reading By Rachel Metz, CNN Business A million bears walking on the streets of Hong Kong. A strawberry frog. A cat made out of spaghetti and meatballs. These are just a few of the text descriptions that people have fed to cutting-edge artificial intelligence systems in recent weeks, which these systems — notably OpenAI’s DALL-E 2
Continue Reading By Catherine Thorbecke, CNN Business Days after meal-kit service Daily Harvest announced the voluntary recall of one of its products, the company has been hit with two lawsuits from individuals who said they had their gallbladders removed after consuming it. Daily Harvest, a direct-to-consumer brand that relied on a network of online influencers to promote
Continue Reading By Catherine Thorbecke, CNN Business Days after meal-kit service Daily Harvest announced the voluntary recall of one of its products, the company has been hit with two lawsuits from individuals who said they had their gallbladders removed after consuming it. Daily Harvest, a direct-to-consumer brand that relied on a network of online influencers to promote
Continue Reading By Frank Pallotta, CNN Business “Stranger Things 4 — Vol. 2″ hits Netflix this weekend, and the kids from Hawkins, Indiana, are back at just the right time for the streaming giant. It’s been an awful 2022 for Netflix. Its stock is down 70% this year. In April, the company reported that it lost subscribers
Continue Reading By Diksha Madhok, CNN Business One of the world’s richest men is launching Pret A Manger in India, adding the British coffee and sandwich store brand to a huge business empire that spans energy, retail and telecommunications. A unit of Mukesh Ambani’s conglomerate Reliance Industries said on Thursday that it has entered into a “long-term
Continue Reading By Laura He, CNN Business Hong Kong’s new leader John Lee on Friday vowed to strengthen the city’s standing as a global business hub, but he gave no hint of diverging from Beijing’s insistence on strict zero-Covid rules. The former British colony’s reputation as an international financial center has been battered during the last two
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Missouri Gov. Mike Parson signed a record $47.5 billion 2023 state budget, highlighting more money to Missouri educators among others.   Â
Continue Reading By Sara Ashley O’Brien, CNN Business Even as its ridership was decimated by the pandemic in 2020, Uber recorded 141 reports of rape on its platform in the United States, the company disclosed in its safety report released Thursday. The 78-page report, which covers 2019 and 2020, is the second-ever Uber has released regarding safety
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Amazon has brought a new facility to Mid-Missouri, the first Amazon facility outside of the St. Louis and Kansas City metro areas.
Continue Reading By Nicole Goodkind, CNN Business The S&P 500 has posted its worst first half in more than 50 years, dropping 20.6% during the first 6 months of 2022. Stocks closed down on Thursday as Wall Street said goodbye to a dismal second quarter and first half of the year. All three major indexes ended the
Continue Reading By Jackie Wattles, CNN Business Lori Garver spearheaded the NASA program that paved the way for SpaceX to return human spaceflight to the United States after a decade-long wait. In her new book and in a recent interview she reflects on that success, the controversial cast of characters driving this new space race, and the
Continue Reading By Alicia Wallace, CNN Business An inflation gauge closely followed by the Federal Reserve showed consumer prices remained flat in May, indicating that inflation had yet to abate despite the central bank’s initial efforts to cool the economy. The monthly Personal Consumption Expenditures price index increased by 6.3% for the year ended in May, the
Continue Reading By Lucy Bayly, CNN Business Consumer expectations for prices to continue rising over the next year increased to the highest level on record, according to the latest Survey of Consumer Expectations from the Federal Reserve Bank of New York, released on Monday. Median short-term inflation expectations ticked up to 6.8% in June from 6.6% in
Continue Reading By Jordan Valinsky, CNN Business Clearly, this isn’t your father’s RadioShack. The zombie retailer’s Twitter account contains a stream of explicit comments, vulgarities and a bunch of drug references. Many companies have edgy social media presences, but not like this. So what’s going on? RadioShack is trying to sell you cryptocurrency — with an attitude.
Continue Reading By Rachel Metz, CNN Business A million bears walking on the streets of Hong Kong. A strawberry frog. A cat made out of spaghetti and meatballs. These are just a few of the text descriptions that people have fed to cutting-edge artificial intelligence systems in recent weeks, which these systems — notably OpenAI’s DALL-E 2
Continue Reading By Julia Horowitz, CNN Business Dealmaking booms when markets are stable and businesses are feeling good about the economy and access to financing. When conditions deteriorate, confidence flags, and the number of companies going public or pursuing takeovers drops. That’s what is happening now. Details, details: The number of global initial public offerings, or IPOs,
Continue Reading By Nicole Goodkind, CNN Business Prominent Wall Street economists like Mark Zandi, investing luminaries like ARK Invest’s Cathie Wood and executives like JP Morgan Chase CEO Jamie Dimon can make recession predictions until they’re blue in the face, but their guidance will remain just that — an economic forecast. That’s because, in the United States,
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