By Anna Cooban, CNN Business A leading British retailer plans to feed 88,000 workers over the winter to help them cope with the surging cost of living. John Lewis Partnership — which owns supermarkets, departments stores and provides banking services — announced on Wednesday that it would offer free food to all employees, including temporary
Continue Reading By Nicole Goodkind, CNN Business Markets are hard to predict right now, and that’s raising a question for some on Wall Street: Does a common measure of volatility actually work the way it should? Traders don’t have a crystal ball to measure the level of risk when they make investment decisions. Instead they depend on
Continue Reading By Frank Pallotta, CNN Business After much anticipation, “The Lord of the Rings: The Rings of Power” finally debuts on Amazon Prime Video on Friday. It represents one of the biggest bets in streaming history. The series, which takes place thousands of years before the events of J.R.R. Tolkien’s “Lord of the Rings” trilogy, is
Continue Reading By Anna Cooban, CNN Business Workers in the United Kingdom have had enough of falling living standards. Rail workers, journalists, lawyers, and postal workers have gone on strike in recent weeks to demand higher pay as inflation soars to its highest level in decades. At least 155,000 workers are currently on strike, including staff at
Continue Reading By Michelle Toh, CNN Business Two of America’s top chipmakers have been ordered to stop selling some of their technology to China that can be used for artificial intelligence. Nvidia and AMD said Wednesday that they had been told by the US government to halt exports of certain high-performance chips to the world’s second largest
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The return of Mizzou football is just one day away and the game is expected to bring several thousand fans to Columbia.
Continue Reading By Jackie Wattles, CNN Business SpaceX’s partnership with NASA just got $1.4 billion sweeter, as the space agency announced Wednesday that it’s extending its deal with the company to cover five additional missions. The contract cements a long future for SpaceX and NASA as they work together to launch astronauts to and from the International
Continue Reading By Nathaniel Meyersohn, CNN Business Add a Sam’s Club membership to the list of subscriptions that are getting more expensive. The warehouse club, owned by Walmart, announced Wednesday that it’s raising its annual membership fee by 11% — from $45 to $50 — beginning in October. It’s the first change to the fee in nine
Continue Reading By Jackie Wattles, CNN Business Cruise operator Royal Caribbean is bringing SpaceX’s satellite-based internet service to its cruise ships in what it’s billing as “the biggest public deployment of Starlink’s high-speed internet in the travel industry so far.” The rollout will begin immediately across all three brands the company operates: Royal Caribbean International, Celebrity Cruises
Continue Reading By Danielle Wiener-Bronner, CNN Business California lawmakers want more control over how fast food chains treat workers. Restaurants, including McDonald’s, are fighting back. Earlier this week, the state’s legislature passed AB 257, a bill that would create a fast food council to “establish sectorwide minimum standards on wages, working hours, and other working conditions,” for
Continue Reading By Danielle Wiener-Bronner, CNN Business California lawmakers want more control over how fast food chains treat workers. Restaurants, including McDonald’s, are fighting back. Earlier this week, the state’s legislature passed AB 257, a bill that would create a fast food council to “establish sectorwide minimum standards on wages, working hours, and other working conditions,” for
Continue Reading By Sara Ashley O’Brien, CNN Business The Wing, the once-buzzy social club and luxury coworking community geared towards women, has shuttered all of its remaining locations. The six-year-old startup, which had raised more than $100 million in funding towards building out its network of physical spaces that were intended to look and feel like feminist
Continue Reading By Oliver Darcy, CNN Business Some of the biggest stars at Fox News have been deposed in recent days as a voting technology company presses forward in its $1.6 billion lawsuit against the right-wing talk channel. Lawyers for Dominion Voting Systems notified Fox News last week that it would be deposing host Tucker Carlson Wednesday,
Continue Reading By Chris Isidore, CNN Business Toyota announced plans Wednesday to invest $5.6 billion in new plants to build electric vehicle batteries in Japan and the United States. But unlike other automakers who are going all-in on EVs, Toyota said it’s still not convinced that’s the best path forward. The world’s largest automaker in terms of
Continue Reading By Paul R. La Monica, CNN Business The bourbon boom is showing no signs of ending anytime soon: Wall Street is still wild about whiskey. Jack Daniel’s owner Brown-Forman reported quarterly results Wednesday morning that easily topped analysts’ forecasts. Sales were up 11%, to $1 billion, surpassing estimates of $978 million. Profits surged 30% to
Continue Reading By Catherine Thorbecke, CNN Business Snap Inc., the parent company of the popular app Snapchat, announced plans to lay off some 20% of its more than 6,400 global employees. The news will impact the jobs of more than 1,200 staffers at the tech giant, and comes as broader economic conditions have deteriorated in recent months
Continue Reading By Nathaniel Meyersohn, CNN Business Few of us want summer to end, but there’s some good news coming this winter holiday: you’ll find more discounts than in previous holiday shopping seasons. Executives at Best Buy, Ulta, Gap and other top chains have said in recent weeks that they are expecting a shopping season packed with
Continue Reading Martha C. White for CNN Business The private sector added 132,000 jobs in August, an indication that the white-hot pace of hiring could be slowing after months of strong job growth. The August number reported by payroll processing giant ADP is far below economists’ expectations of 225,000 positions added. “We could be at an inflection
Continue Reading By Jordan Valinsky and Nathaniel Meyersohn, CNN Bed Bath & Beyond is in deep turmoil. The company is trying to rescue itself and stay out of bankruptcy by shrinking. The chain said Wednesday that it will lay off approximately 20% of corporate employees, close around 150 stores and slash several of its in-house home goods’
Continue Reading By Nicole Goodkind, CNN Business Rising mortgage rates are taking a toll on the US housing market. But those hoping for prices to drop probably won’t catch a break anytime soon. What’s happening: Home prices were up 18% in June compared to a year ago, with Tampa, Miami and Dallas reporting the highest annual gains,
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