Money

By Diksha Madhok, CNN Business Tencent reported a 29% rise in second-quarter profit, even as Beijing expands its scrutiny of the private sector. The Chinese gaming and social media giant said Wednesday that revenue jumped 20% to 138.3 billion yuan ($21.3 billion) for the three months ended June, compared to the same period last year,

By Charles Riley, CNN Business Nando’s has been forced to close dozens of restaurants in the United Kingdom due to shortages of the chain’s signature peri peri chicken. Some 45 outlets were shuttered across England, Scotland and Wales, a spokesperson for Nando’s told CNN Business on Wednesday. The company has dispatched some of its employees

By Julia Horowitz, CNN Business The swift fall of Afghanistan to Taliban fighters has triggered a humanitarian crisis, with thousands trying to flee the country. It’s also brought renewed focus on Afghanistan’s vast untapped mineral wealth, resources that could transform its economic prospects if ever developed. Afghanistan is one of the poorest nations in the

By Laura He, CNN Business Chinese President Xi Jinping this week issued a bold new pledge to redistribute wealth in the country, piling more pressure on the country’s richest citizens and businesses. Xi told top leaders from the ruling Chinese Communist Party on Tuesday that the government must establish a system to redistribute wealth in

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. As US government officials prepare to brief the public about Covid-19 vaccine booster shots, there is an emerging consensus coming from influential corners of the national news media: people should

By Peter Valdes-Dapena, CNN Business Nissan unveiled the redesigned 2023 Nissan Z sports car Tuesday night, a somewhat retro-styled model the company hopes will continue the brand’s turnaround after the turmoil of the last few years. Nissan had been dealing with struggling sales due to an aging lineup and the arrest of its chairman, Carlos

By Chauncey Alcorn, CNN Business Serena Williams is pairing up with Nike to try to bring more people of color into the world of fashion design. On Tuesday, the 39-year-old tennis legend joined Nike in unveiling a collection of women’s athleisure wear and accessories, created by a group of 10 up-and-coming designers known as the

By Matt Egan, CNN Business Fintech lenders helped speed the delivery of forgivable government loans to small businesses crushed by the pandemic. But these tech-savvy lenders may also have opened the door to widespread fraud and misuse of taxpayer money. Fintechs are almost five times more likely than traditional banks to have made “highly suspicious”

By Nathaniel Meyersohn, CNN Business The jobs that major chains in the United States are having the most trouble filling right now aren’t inside their stores ringing up customers and stocking shelves. They’re at their warehouses selecting items, packing boxes and loading trucks. Amazon, Walmart, Dollar Tree and other retailers are dangling wage hikes, signing

By Brian Stelter, CNN Business Poppy Harlow’s father taught her to love the law profession. “As a little girl,” the CNN anchor recalled, “I would sit with him at the kitchen table and he would take apart a camera or a printer and say ‘Look, Poppy, this is where they infringed a patent.’ ‘This is

By Chris Isidore, CNN Business As General Motors and Ford work to develop self-driving vehicles, their lawyers are busy battling over what they should be allowed to call the technology. Late last month, GM filed a trademark infringement case to block Ford from using the name “BlueCruise” for its soon-to-be-released hands-free driving feature. Ford says

By Paul R. La Monica, CNN Business Apple, Google and other big companies around the world are continuing to add to their massive piles of cash, a sign that corporations are increasingly nervous about how the highly contagious Delta variant of Covid-19 could damage the global economy. The world’s largest nonfinancial companies had a record

Opinion by Brian Doubles for CNN Business Perspectives I was wrong. Before the pandemic, I never would have thought remote work was a viable option for Synchrony’s entire workforce. There were too many potential complications: technology challenges, productivity issues, inertia. But then we went ahead and did it. As the crisis worsened last year, we