By Anna Cooban, CNN Business Europe has more natural gas than it knows what to do with. So much, in fact, that spot prices briefly went negative earlier this week. For months, officials have warned of an energy crisis this winter as Russia — once the region’s biggest supplier of natural gas — slashed supplies
Continue Reading By Frank Pallotta, CNN Business Ye — formerly known as Kanye West — has lost partnerships with fashion brands including Gap, Balenciaga and Adidas following his antisemitic comments in recent weeks. Now, questions remain about the business that helped propel Ye onto the fashion scene in the first place: Music. Since 2004’s “The College Dropout”
Continue Reading By Jordan Valinsky, CNN Business Bed Bath and Beyond has named a new CEO — and investors were selling the stock. The beleaguered retailer has tapped interim leader Sue Gove to the position permanently. She’s held the position for the past four months following the exit of its former CEO Mark Tritton, who failed to
Continue Reading By Jordan Valinsky, CNN Business Roughly 37 million bottles of Pine-Sol products have been recalled because they could contain a potentially harmful bacteria. Clorox said some of the affected Pine-Sol products might contain a bacteria called Pseudomonas aeruginosa, which can harm people with compromised immune systems or people with external medical devices because they pose
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By Nicole Goodkind, CNN Business Imminent recession is the topic du jour. From Goldman Sachs to the IMF, analysts and economists seem to agree that an economic downturn is coming for the United States in early 2023. That’s why it’s so surprising that the US economy is expected to show robust growth in Thursday’s third-quarter
Continue Reading By Nicole Goodkind, CNN Business Imminent recession is the topic du jour. From Goldman Sachs to the IMF, analysts and economists seem to agree that an economic downturn is coming for the United States in early 2023. That’s why it’s so surprising that the US economy is expected to show robust growth in Thursday’s third-quarter
Continue Reading By Hanna Ziady and Julia Horowitz, CNN Business The UK government has delayed its budget by more than two weeks, buying new Prime Minister Rishi Sunak some time to make difficult choices about how to tackle the country’s “profound economic crisis.” Finance minister Jeremy Hunt will now deliver the government’s medium-term fiscal plan on November
Continue Reading By Rob McLean, CNN Business Two high profile athletes are leaving Kanye West’s sports agency, Donda Sports, in the wake of the artist and businessman’s repeated antisemitic statements. Aaron Donald, a star football player on the Los Angeles Rams, announced Tuesday that he is leaving the agency. In a statement shared on Twitter, Donald and
Continue Reading By Chris Isidore, CNN Business Rapper Ye’s falling out with corporate partners has cost him his status as a billionaire, according to Forbes. In the last few weeks, Ye — also known as Kanye West — has seen luxury fashion house Balenciaga, Gap and most recently Adidas end business relationship with him for antisemitic comments
Continue Reading By Jeanne Sahadi, CNN Business There are few places to keep your cash these days that can protect your money from inflation. And while you might have missed an opportunity to get a nearly 10% interest rate on ultra safe government I Bonds, you can still get a high rate that will keep pace with
Continue Reading By Skyler Hill and Rebekah Riess, CNN Business Authorities in Excelsior Springs, Missouri, have launched an investigation into the death of an Amazon delivery driver after he was found dead with possible dog bite injuries. Officers were called to the scene at around 7 p.m. Monday after they were told an Amazon delivery truck had
Continue Reading By Catherine Thorbecke, CNN Business Microsoft posted a double-digit profit decline in the three-month period ending in September as the company confronted a slowdown in the personal computing industry and a broader economic downturn. The tech giant on Tuesday reported net income of $17.6 billion for the quarter, a decrease of 14% from the year
Continue Reading By Parija Kavilanz, CNN Business As the corporate backlash against Kanye West mounts, Gap has announced it is pulling the rapper’s Yeezy Gap line of merchandise from its stores and has shut down YeezyGap.com. Additionally, Foot Locker is pulling Yeezy products from its shelves. “Our former partner’s recent remarks and behavior further underscore why we
Continue Reading By Gabe Cohen, CNN At the Senior Friendship Center in Sarasota, Florida, talking about inflation really strikes a chord. At a card table there, CNN met with a group of seniors, all on fixed incomes, who spoke about feeling the squeeze from steep price hikes over the past year. Katherine Janes, 81, said she had
Continue Reading By Clare Duffy, CNN Business Google may be the giant in the digital advertising world, but even it is not immune to the impact that the economic downturn and recession fears are having on the online ad market. Google parent company Alphabet on Tuesday reported earnings results for the third quarter that fell short of
Continue Reading By Nathaniel Meyersohn, CNN Business In 2013, Adidas struck a deal with Kanye West to create Yeezy-branded shoe and clothing collections for the sportswear giant. Landing West, who previously had an endorsement deal with Nike, was a coup for Adidas. Three years later, Adidas expanded its relationship with him, heralding it as the “most significant
Continue Reading By Clare Duffy, CNN Business In recent months, bots have been top of mind for many who track the social media industry, thanks to Elon Musk’s attempt to use the prevalence of fake and spam accounts to get out of his $44 billion deal to buy Twitter. But bots aren’t just a challenge for Twitter.
Continue Reading By Catherine Thorbecke, CNN Business Six months after the grassroots Amazon Labor Union scored a historic victory by becoming the first to unionize one of the tech giant’s US facilities, it now appears to be grappling with setbacks and delays. Workers at a California Amazon facility withdrew their petition late last week to unionize with
Continue Reading By Danielle Wiener-Bronner, CNN Business Over the past year, Coca-Cola has experimented with bizarre, limited-time flavors and immersive online experiences. Now, it’s setting its sights on adding more varieties of cans, bottles and value packs to offer cash-strapped consumers more options — even if that ultimately means paying more for less. “Package innovation takes a
Continue Reading By Paul R. La Monica, CNN Business Consumers may be worried about inflation and rising interest rates. But don’t tell that to Wall Street. Stocks rose again Tuesday. It was a third-straight day of gains in what’s turning out to be a very bullish October. The Dow rose nearly 340 points, or 1.1%. The blue
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