By Hanna Ziady, CNN Shares of Barclays tumbled nearly 10% Wednesday after the British bank reported a sharp drop in profit, driven by increased provisions for bad debts and huge fines for wrongly sold securities in the United States. Barclays reported a net profit of £5.97 billion ($7.2 billion) for 2022, a 15% decline on
Continue Reading By Hanna Ziady, CNN US group Cleveland Clinic will open its third London facility this autumn as demand for private health care booms in the United Kingdom — sparked in large part by long wait times to access treatment on the National Health Service (NHS). The new 13,000-square foot facility will provide patients appointments with
Continue Reading By Alicia Wallace, CNN Last year Americans knocked out their holiday shopping early, leading to frigid sales during the typically bountiful November and December months — and triggering speculation that the US consumer was tapped out. That wasn’t the case. Last month, spending rebounded in a big way. US retail sales surged in January by
Continue Reading By Chris Liakos, Livvy Doherty and Anna Cooban, CNN German airline Lufthansa is ‘stabilizing’ its flight operations at Frankfurt airport after a company-wide IT outage led to a raft of flight cancellations and delays that stranded thousands of passengers in airports on Wednesday. “Lufthansa’s flight operations are currently stabilizing. Departures are also possible again in
Continue Reading By Nathaniel Meyersohn, CNN Walmart had a strong holiday shopping season, but the year ahead will be more challenging for America’s largest retailer. Walmart forecast slower sales and profit growth, disappointing investors and sending its stock down during morning trading Tuesday. However, Walmart notched an 8.3% sales increase during its latest quarter at US stores
Continue Reading By Nathaniel Meyersohn, CNN Tuesday Morning, the discount home goods retailer, filed for Chapter 11 bankruptcy protection Tuesday, its second bankruptcy in three years. It’s the latest example of the retail apocalypse, which is starting to creep back. Tuesday Morning’s previous bankruptcy came during the initial months of the Covid-19 pandemic. The chain said Tuesday
Continue Reading By Anna Cooban, CNN Turkey’s stock market soared Wednesday on the first day of trading after a suspension triggered by a devastating earthquake. Shares on Istanbul’s stock exchange rose 9.8% by mid-afternoon. On Tuesday, authorities intervened to boost stock buying: The government announced measures to encourage companies to buy back their shares and ordered pension
Continue Reading By Nicole Goodkind, CNN The labor market ballooned in January when the US economy added an astonishing 517,000 jobs, blowing past Wall Street’s expectations. But at the same time, a slew of corporate layoff announcements have prompted questions about whether there could be a broad slowdown on the horizon. So what’s going on? It’s a
Continue Reading By Jordan Valinsky, CNN Olaplex, a beauty brand favored by TikTok and Instagram influencers, sells hair products that dozens of customers allege caused “serious injury,” according to a lawsuit filed last week. Olaplex denies the claims, saying independent test results prove the allegations to be false. Nearly 30 women joined together to file a lawsuit
Continue Reading By Jordan Valinsky, CNN Olaplex, a beauty brand favored by TikTok and Instagram influencers, sells hair products that dozens of customers allege caused “serious injury,” according to a lawsuit filed last week. Olaplex denies the claims, saying independent test results prove the allegations to be false. Nearly 30 women joined together to file a lawsuit
Continue Reading By Wayne Chang and Simone McCarthy, CNN A protest broke out in central China’s Wuhan on Wednesday as elderly residents showed their discontent with a local government reform to public health insurance that came into effect earlier this month. Photos and videos of the demonstration in Wuhan circulating on social media and seen by CNN
Continue Reading By Becky Anderson, CNN Elon Musk is aiming to “find someone else” to run Twitter by the end of this year. He first needs to “stabilize the organization” and make sure “it’s financially in a healthy place,” Musk said Wednesday, speaking via videolink at the World Government Summit in Dubai. “Probably towards the end of
Continue Reading By James Frater and Alex Hardie, CNN The European Union is setting up a working group to examine whether frozen Russian assets can be used to rebuild Ukraine. The group will carry out a “legal, financial, economic and political analysis” to assess this possibility, the Swedish government said in a statement Tuesday. Sweden currently holds
Continue Reading By James Frater and Alex Hardie, CNN The European Union is setting up a working group to examine whether frozen Russian assets can be used to rebuild Ukraine. The group will carry out a “legal, financial, economic and political analysis” to assess this possibility, the Swedish government said in a statement Tuesday. Sweden currently holds
Continue Reading By Eric Cheung and Juliana Liu, CNN Shares in Taiwan Semiconductor Manufacturing Company fell as much as 4% on Wednesday, after Warren Buffett’s Berkshire Hathaway disclosed that it had sold most of its holdings in the chip giant. In a Tuesday filing with the United States’ Securities and Exchange Commission, Berkshire Hathaway said it had
Continue Reading By Kathleen Magramo, CNN Hong Kong real estate is the most expensive in the world, but it wasn’t eye watering prices that took investors by surprise this week. A public tender spelling out the details of a government land sale in the city’s Kowloon district states that prospective buyers can be disqualified if they or
Continue Reading By Oliver Darcy, CNN All niceties have been thrown out the window as DirecTV finds itself ensnared in an ugly carriage dispute with Newsmax. The satellite carrier, which refuses to buckle to pressure and pay millions of dollars to broadcast the network’s low-rated programming, unleashed on the right-wing talk channel on Tuesday. In a letter
Continue Reading By Oliver Darcy, CNN All niceties have been thrown out the window as DirecTV finds itself ensnared in an ugly carriage dispute with Newsmax. The satellite carrier, which refuses to buckle to pressure and pay millions of dollars to broadcast the network’s low-rated programming, unleashed on the right-wing talk channel on Tuesday. In a letter
Continue Reading By Gregory Wallace, CNN Citing a series of recent aviation safety incidents, the head of the Federal Aviation Administration has ordered a sweeping review of the agency. “We are experiencing the safest period in aviation history, but we cannot take this for granted,” Billy Nolen, the acting FAA administrator, wrote in a memo. “Recent events
Continue Reading By Peter Valdes-Dapena, CNN Business Ford has halted production of the top-selling electric pickup in America, the F-150 Lightning, because of a possible battery problem, the automaker confirmed Tuesday. The potential issue was discovered during the company’s pre-delivery vehicles inspections, Ford spokesperson Emma Berg said. The pause in production and delivery apparently does not apply
Continue Reading