By Casey Tolan and Audrey Ash, CNN Photographs by Rachel Woolf for CNN The steel mill that looms over low-slung neighborhoods in Pueblo, Colorado, is a rare bright spot for American manufacturing. Once part of the state’s largest private employer, pumping out steel that was used to build rail lines across the Western US, it
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By Matt Egan, CNN Business Two top House Democrats are pushing the CEOs of ExxonMobil, Chevron, BP and Shell to scrap their stock buyback and dividends during the war in Ukraine and shift funding for those shareholder rewards towards lowering prices at the gas pump. “As Vladimir Putin’s illegal war against Ukraine is raising gas
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By Sara Ashley O’Brien, CNN Business After Christian Smalls was fired two years ago from an Amazon warehouse in New York City following his participation in a walkout over its pandemic response, an executive at the company suggested undercutting his organizing efforts by painting him as “not smart, or articulate.” When Smalls’ newly-established organization garnered
Continue Reading By Sara Ashley O’Brien, CNN Business After Christian Smalls was fired two years ago from an Amazon warehouse in New York City following his participation in a walkout over its pandemic response, an executive at the company suggested undercutting his organizing efforts by painting him as “not smart, or articulate.” When Smalls’ newly-established organization garnered
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By Danielle Wiener-Bronner, CNN Business On Monday Coca-Cola unveiled a new, limited-edition flavor that’s supposed to taste like…pixels. Yes, pixels. “Coca-Cola Zero Sugar Byte makes the intangible taste of the pixel tangible,” Oana Vlad, senior director of strategy at Coca-Cola, told CNN Business in an email. “Byte” is the second flavor to emerge from the
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More workers are returning to the office after working from home the last two years. Not only has this meant an adjustment to daily routines, but also spending, as employees start shelling out money for commuting costs, coffee and lunch runs and office attire — all of which has been made more expensive by rising
Continue Reading More workers are returning to the office after working from home the last two years. Not only has this meant an adjustment to daily routines, but also spending, as employees start shelling out money for commuting costs, coffee and lunch runs and office attire — all of which has been made more expensive by rising
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By Paul R. La Monica, CNN Business Are upper middle class and affluent shoppers starting to feel the pinch from higher prices and geopolitical concerns? If so, what does that mean for the rest of American consumers? Stock market volatility, inflation and concerns about rising interest rates could soon slow all parts of the economy
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By Kathryn Vasel Amid America’s Great Resignation, millions of workers continue to leave their jobs. In February, 4.4 million employees quit, according to the Labor Department, and the unemployment rate dropped to a pandemic-era low of 3.6% in March. But despite headlines about employers struggling to attract and hire workers, finding a new job can
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By Jeanne Sahadi, CNN Business Soaring inflation. The war in Ukraine. Yet another rise in Covid cases. With so much going on this year it’s been hard to focus on things like filing your taxes. Nevertheless, the IRS still expects you to file your 2021 return and pay whatever you still owe by the filing
Continue Reading By Jeanne Sahadi, CNN Business Soaring inflation. The war in Ukraine. Yet another rise in Covid cases. With so much going on this year it’s hard to focus on things like filing your taxes. Nevertheless, the IRS still expects you to file your 2021 return and pay whatever you still owe by the filing deadline,
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By Jennifer Korn Swedish electric car maker Polestar is selling up to 65,000 electric vehicles to Hertz over the next five years, the companies announced Monday. The move follows an order Hertz placed for 100,000 electric cars made by Tesla in October 2021. Polestar CEO Thomas Ingenlath previously told Automotive News Europe that stretch goal
Continue Reading By Jennifer Korn Swedish electric car maker Polestar is selling up to 65,000 electric vehicles to Hertz over the next five years, the companies announced Monday. The move follows an order Hertz placed for 100,000 electric cars made by Tesla in October 2021. Polestar CEO Thomas Ingenlath previously told Automotive News Europe that stretch goal
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By Matt Egan, CNN Business It’s a tale of two oil trends for ExxonMobil: The company will post a massive profit increase for the first quarter thanks to the oil price spike, but it’s bracing to lose money on its planned exit from Russia. Exxon disclosed the news Monday ahead of its official quarterly earnings
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By Nadeen Ebrahim, CNN The Ukraine war is wreaking havoc on the world economy, but in the Middle East its impact hasn’t been so grim for everyone. Some of the world’s biggest hydrocarbon producers, the Gulf nations are seeing billions of dollars added to their coffers aided by a Ukraine war-driven rally in oil prices.
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By Anna Cooban, CNN Business European officials have signaled that they could sanction Russia’s energy exports after images emerged of mass killings of civilians in Bucha, near the Ukrainian capital. Josep Borrell, the European Union’s top diplomat, said in a statement Monday that the bloc was working as a “matter of urgency” on drawing up
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By Julia Horowitz, CNN Business Just three weeks ago, Starbucks announced that it had big plans to lavish its shareholders with new rewards. The company said it was reinstating its stock buyback program, touting a $20 billion commitment over the next three years. “While our growth this year will not be linear, we are confident
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By Chris Isidore, CNN Business Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest shareholder in the company. News of the purchase sent shares of Twitter soaring 22% in early trading. Musk did not disclose what he paid for the shares, but his stake was worth $2.9
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By Danielle Wiener-Bronner, CNN Business Coke’s recent foray into bold new flavors has its latest entry, and it’s a doozy. Last month, Coca-Cola announced a new limited-edition beverage: Coca-Cola Starlight, a red version of the iconic soda with a flavor “inspired by space.” Now the company is one-upping itself with another offbeat offering: Coca-Cola Zero
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By Laura He, CNN Business China is extending an olive branch to the United States in a bid to prevent Chinese firms from being kicked off the US stock market. The China Securities Regulatory Commission, the country’s top securities watchdog, has proposed changing a decade-old rule that forbids Chinese firms from sharing sensitive data and
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