By Jennifer Korn Tim Cook had a very good year. Apple’s CEO received nearly $100 million in total compensation in 2021, a sixfold increase from the prior year, according to a proxy statement filed by the company on Thursday. Cook’s $98.7 million pay package was largely made up of roughly $82 million in stock awards.
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By Danielle Wiener-Bronner, CNN Business Papa Johns is making a big bet on China. The pizza chain plans to open over 1,350 stores in South China by 2040 in partnership with the Asian private equity firm FountainVest Partners, it said on Friday. The deal will increase Papa Johns current global count by 25%, and marks
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By Parija Kavilanz, CNN Business Kanye West is expanding his sellout Yeezy Gap line by bringing on luxury fashion powerhouse brand Balenciaga. Gap announced Friday that the tieup, branded as “Yeezy Gap Engineered By Balenciaga,” pairs Ye’s creative vision with Balenciaga’s creative director, Demna Gvasalia. Gvasalia is the 40-year-old Georgian designer who has been designing
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By Allison Morrow and Anneken Tappe, CNN Business One of the more insidious myths this year was that young people didn’t want to work because they were getting by just fine on government aid. People had too much money, went the narrative. Only trouble is, the numbers don’t back it up. Instead, early retirement —
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By Tami Luhby, Kathryn Vasel, CNN Business Part of this story was included in a previously published story that ran on CNN Business in November. Workers are walking away from their jobs in record numbers. In November, 4.5 million people quit their jobs, according to data from the Labor Department released earlier this week. And
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By Paul R. La Monica, CNN Business The jobs recovery may be losing steam. But the unemployment rate continued to fall, and workers are still bringing home bigger paychecks. Investors don’t seem sure what to think about those mixed messages. Stocks closed lower Friday after the US government reported that just 199,000 jobs were added
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By Samantha Murphy Kelly, CNN Business When Patrick Kennedy, a nightlife performer in New York City, recently was exposed to Covid-19, he was desperate to find more rapid tests to not only monitor his health but track when he’d be able to return to work. “It’s impossible to find Covid tests because of the shortage
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By Allison Morrow, CNN Business If you haven’t secured a raise in a while, now’s the time to make your move. Yes, inflation is high, supply chains are still a mess, unionization efforts are taking root across industries and retail theft is on the rise — all legitimate headaches for employers. But Corporate America has
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Opinion by Jim Himes for CNN Business Perspectives For far too many American children, the race is over before it really begins. Arbitrary factors like zip code, race and gender are determining whether those children prosper or are consigned to poverty. About half of children born into poverty in the US will spend at least
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By Julia Horowitz, CNN Business Apple, Microsoft, SoFi and Coinbase all sold off sharply this week, as investors, anticipating higher interest rates, dumped tech stocks and bought shares of companies they believed were undervalued. Given some time, however, Randy Frederick, Schwab managing director of trading and derivatives, thinks certain tech companies will fare better than
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By Julia Horowitz, CNN Business Apple, Microsoft, SoFi and Coinbase all sold off sharply this week, as investors, anticipating higher interest rates, dumped tech stocks and bought shares of companies they believed were undervalued. Given some time, however, Randy Frederick, Schwab managing director of trading and derivatives, thinks certain tech companies will fare better than
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By Parija Kavilanz, CNN Business Retailers have always been vulnerable to shoplifting. But the emergence of coordinated and organized robberies at high-value stores, even during shopping hours, has the industry on edge. In November, a group of 14 individuals barged into a Louis Vuitton store in Oakbrook, Illinois, while customers were inside and audaciously drove
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By Anneken Tappe, CNN Business The US economy added 199,000 jobs in December, the Labor Department reported Friday. That was the fewest jobs added in any month of 2021. That was a major disappointment: Economists had forecast jobs growth of double that number. So how could forecasts be so off again? “We just have to
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By Diksha Madhok, CNN Business Political turmoil in Kazakhstan is hitting the country’s vast bitcoin mining industry. The Central Asian nation plunged into chaos as violent protests sparked by rising fuel prices left dozens killed and hundreds injured. As part of the mayhem, internet and telecommunications cuts have been reported nationwide — and that’s having
Continue Reading By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Immediately following his January 6 anniversary speech in Statuary Hall, President Biden told a small group of reporters that “we just have to face the facts of what happened” and
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By Xiaofei Xu, CNN Business When the freight train pulled into view, it looked like many others at this rail hub in suburban Paris. But one thing made the train unusual: its journey started more than 6,000 miles away, in western China. The train was carrying more than three dozen 40-foot containers, each stuffed with
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By Oliver Darcy, CNN Business On the one-year anniversary of the January 6 insurrection, some of the most powerful forces in right-wing media continued to mislead or just brazenly lie to their audiences about the attack on the US Capitol, while others downplayed the events and mocked the news media for its coverage. The coverage
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By Anna Bahney, CNN Business Mortgage rates started off 2022 with a bang, as the average rate moved higher than at any point last year. The 30-year fixed-rate mortgage averaged 3.22% in the week ending on January 6, up from an average 3.11% last week. A year ago the 30-year rate was 2.65%, the lowest
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By Pete Muntean, CNN Business Airlines continue to cancel and delay flights by the thousands as their operations struggle with an untold number of workers calling out sick with coronavirus. Carriers have canceled more than 1,620 flights as of Thursday afternoon and delayed more than 1,350 nationwide according to flight tracking site FlightAware. On Wednesday,
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By Clare Duffy, CNN Business January 6 was a clear turning point for major social media companies — proving that they would, under certain circumstances, be willing to deplatform a sitting US president. But some experts worry that they still haven’t done enough to address the underlying issues that allowed Trump supporters and others on
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