By Jordan Valinsky, CNN Business CVS Health is closing 900 stores over the next three years, amounting to nearly 10% of its footprint, in response to the changing of “consumer buying patterns.” The drug store chain said Thursday that the closures will result in a retail presence that ensures it has the “right kinds of
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By Jackie Wattles, CNN Business The director of the United Nations’ World Food Programme laid out a plan to spend $6.6 billion to combat world hunger — a direct response to a back-and-forth with Tesla CEO Elon Musk, who claimed he would sell Tesla stock to fund a plan if the WFP could describe “exactly
Continue Reading By Jackie Wattles, CNN Business The director of the United Nations’ World Food Programme laid out a plan to spend $6.6 billion to combat world hunger — a direct response to a back-and-forth with Tesla CEO Elon Musk, who claimed he would sell Tesla stock to fund a plan if the WFP could describe “exactly
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By Jackie Wattles, CNN Business The director of the United Nations’ World Food Programme laid out a plan to spend $6.6 billion to combat world hunger — a direct response to a back-and-forth with Tesla CEO Elon Musk, who claimed he would sell Tesla stock to fund a plan if the WFP could describe “exactly
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By Jill Disis, CNN Business Paytm is starting to stage a recovery from its disastrous stock market debut last week, but the digital payments firm faces an uphill battle winning over investors worried about its ability to turn a profit in the face of growing competition. Shares of the Indian company — trading under the
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By Parija Kavilanz, CNN Business Victoria’s Secret says that nearly 50% of its holiday merchandise is stuck in transit as Black Friday quickly approaches and gift shopping speeds up. The company said it ordered 200 million units of merchandise for the fourth quarter holiday sales period, but 90 million of those items are delayed because
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By Nathaniel Meyersohn, CNN Business By now, everyone knows about supply chain chaos and rising inflation that are disrupting the holiday shopping season. The Grinch is loose this Christmas. But there’s good news for shoppers looking to avoid empty shelves and high prices: Products can be found— and for cheap. You just have to know
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By Sara Ashley O’Brien, CNN Business Journalist Roger Parloff, who wrote the first major cover story on Theranos’ Elizabeth Holmes and later issued a retraction, was called to testify in her criminal trial Thursday. The government has alleged Holmes used the media, and Parloff’s Fortune Magazine story titled “This CEO is Out for Blood” in
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By Paul R. La Monica, CNN Business Alibaba reported sales and earnings for the third quarter that missed forecasts and warned that results for the year will be below estimates as well. The stock sank on the news. Shares of Alibaba were down 10% in early trading Thursday. The Chinese e-commerce giant reported sales growth
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By Duarte Mendonca, CNN Cathay Pacific has fired three pilots after they were infected with coronavirus in the German city of Frankfurt. The Hong Kong airline said in a statement that an internal investigation had found that the pilots were involved in a “serious breach” of Covid-19 procedures during “overseas layovers.” Other Cathay staff who
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Opinion by Catherine Franssen for CNN Business Perspectives As supply chain disruptions continue to impact businesses around the globe, consumers could have a tough time holiday shopping this year — whether due to a lack of inventory, higher prices or both. And given the nearly two years of constant stress and exhaustion around Covid-19, shoppers
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By Julia Horowitz, CNN Business The price of oil has shot up this fall, boosting profits for major producers but hurting the wallets of drivers who need to fill up their tanks. Just a few days back, gas prices in California hit their highest level ever. This week, however, some of the pressure has started
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By Clare Duffy, CNN Business Entering the new Amazon Web Services Skills Center is a bit like walking into a high-tech museum. Among its exhibits are a rotating, globe-shaped screen that displays images of planets or weather patterns, an interactive “smart home” model and a table full of small robot vehicles trained by machine learning.
Continue Reading By Clare Duffy, CNN Business Entering the new Amazon Web Services Skills Center is a bit like walking into a high-tech museum. Among its exhibits are a rotating, globe-shaped screen that displays images of planets or weather patterns, an interactive “smart home” model and a table full of small robot vehicles trained by machine learning.
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By Vanessa Yurkevich, CNN Business Thanksgiving dinner will cost 14% more this year, according to new survey by the American Farm Bureau Federation. Dinner for a family of 10 will cost on average $53.31 — up $6.41 from last year’s average of $46.90 which was down 4% from 2019, the lowest in 10 years. Several
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By Danielle Wiener-Bronner, CNN Business Starbucks is leaning into tech with its new concept store. Essentially, it’s a mashup of a regular Starbucks pickup store and an Amazon Go store, where customers grab items without having to wait in line to pay. No freebies though — you’ll be charged when you exit. And you’ll still
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COLUMBIA, Mo. (KMIZ) A new study by the Better Business Bureau shows complaints against the vehicle service contract industry are on the rise. For more than 20 years, the St. Louis region has been the “epicenter” for the industry. Companies that work in the St. Louis region usually market the selling of contracts to millions
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By Yoonjung Seo, CNN Business Tim Sweeney is on a mission. The Epic Games CEO has been mounting a relentless attack on Apple, after the tech giant kicked his company’s hugely popular video game Fortnite off the App Store. Apple said at the time that Epic flouted rules on digital payments by establishing its own
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By Julia Horowitz, CNN Business When Germany announced this week that it had suspended the process of certifying a controversial new Russian gas pipeline called Nord Stream 2, the response in energy markets was immediate. European natural gas futures finished almost 18% higher on Tuesday and rose again on Wednesday. UK wholesale prices also surged.
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By Diksha Madhok, CNN Business It’s turning into a monumental year for India’s stock market, as yet another big startup makes its public debut. But Paytm, which started trading in Mumbai on Thursday, spoiled the party: Its shares opened below the 2,150 rupees ($28.60) issue price, before closing down 27% at 1,564 rupees ($21). The
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