By Jordan Valinsky, CNN Business To comply with the Biden administration’s upcoming vaccine mandate, Starbucks is requiring its workers to be fully vaccinated against Covid-19 or undergo weekly testing, the company recently told employees. In a letter from Starbucks Chief Operating Officer John Culver, the coffee chain told its approximately 220,000 US employees they must
Continue Reading
By Matt Egan Goldman Sachs is joining a growing list of Wall Street firms advising employees to stay home due to soaring Covid cases. The bank sent a memo Sunday encouraging employees who can work remotely to do so until January 18, a Goldman Sachs spokesperson told CNN. Goldman Sachs cited “rising community infections” in
Continue Reading
Opinion by Mark Wolfe for CNN Business Perspectives The Build Back Better bill, the large social safety net and environmental spending bill being considered by Congress, is a once-in-a-generation opportunity to address the nation’s growing wealth gap. It would raise taxes on the wealthy and large corporations and then would use those funds to strengthen
Continue Reading
By Brian Fung, CNN Business The nation’s biggest cellular carriers say they won’t further delay the rollout of 5G wireless service near airports — ratcheting up tensions between transportation officials and the telecom industry ahead of a critical deadline this week that could trigger widespread US flight delays and diversions. In a letter Sunday reviewed
Continue Reading
By Jordan Valinsky, CNN Business Sweetgreen is hoping to alleviate some of the pain of paying for its expensive salads with a new discount program. Beginning Monday, the salad chain is selling a subscription-like offering called Sweetpass that gives customers as much as 30% off each purchase. With a $10 subscription, a customer will get
Continue Reading
By Samantha Kelly and Clare Duffy, CNN Business CES, typically one of the year’s biggest tech trade shows, is moving forward with plans to host an in-person component this week despite looming threats of the Omicron Covid-19 variant. Although the event will return to Las Vegas for the first time since 2020 — marking the
Continue Reading
By Julia Horowitz, CNN Business Disney did not have a magical 2021. Even as Covid-19 vaccines allowed countries around the world to lift restrictions, the company’s business struggled. Attendance at its parks disappointed, and momentum from its Disney+ streaming service, once a bright spot, cooled off. The company’s stock dropped almost 15%, making it the
Continue Reading
By Jordan Valinsky, CNN Business Not even Little Caesars is immune from price increases: The chain’s signature $5 Hot-N-Ready pizza now costs 11% more. Little Caesars is selling a “new and improved” version of the recognizable pizza, which has 33% more pepperoni and a new price of $5.55 — its first price increase in nearly
Continue Reading By Kerry Flynn, CNN Business The word “metaverse” is popping up everywhere. Facebook recently changed its name to Meta Platforms. Nike bought a virtual shoe company to help it expand to the metaverse. And other brands like Gucci and Ralph Lauren have been considering the future of fashion with digital personas. With all the attention,
Continue Reading
By Gul Tuysuz, CNN Turkey’s annual rate of inflation has hit a 19-year high as a currency collapse sends the cost of imports soaring. According to the Turkish Statistical Institute, consumer prices soared 36% in December compared to the same month the previous year. Prices are now rising at their fastest pace since September 2002.
Continue Reading
By Diksha Madhok, CNN Business The Indian government says it is investigating a website that purported to offer Muslim women for sale, the second time in less than a year that a fake online auction of this kind has sparked outrage in the country. The website was created on GitHub, an American coding platform which
Continue Reading
By Diksha Madhok, CNN Business Embattled Chinese property developer Evergrande suspended trading in Hong Kong on Monday as the heavily indebted company contends with an ongoing real estate crisis. Evergrande said in a filing to the Hong Kong Stock Exchange that its trading halt was pending an “announcement containing inside information,” though it did not
Continue Reading
By Chris Isidore, CNN Business Tesla bucked the industry-wide trend of reduced sales due to the shortage of computer chips and other parts, posting record sales in the fourth quarter, up 71% from a year earlier. The strong fourth quarter of 308,600 vehicles gave Tesla full-year sales of 936,000, up 87% from the 2020 total,
Continue Reading By Chris Isidore, CNN Business Tesla bucked the industry-wide trend of reduced sales due to the shortage of computer chips and other parts, posting record sales in the fourth quarter, up 71% from a year earlier. The strong fourth quarter of 308,600 vehicles gave Tesla full-year sales of 936,000, up 87% from the 2020 total,
Continue Reading
By Ramishah Maruf, CNN Business One of the defining stories of this year was the Jan. 6 insurrection, and its significance is only growing from here, CNN’s chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. Approaching the one year anniversary, journalists are continuing to report on the attack and its aftermath, and many
Continue Reading By Ramishah Maruf, CNN Business One of the defining stories of this year was the Jan. 6 insurrection, and its significance is only growing from here, CNN’s chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. Approaching the one year anniversary, journalists are continuing to report on the attack and its aftermath, and many
Continue Reading By Matt Egan Goldman Sachs is joining a growing list of Wall Street firms advising employees to stay home due to soaring Covid cases. The bank sent a memo Sunday encouraging employees who can work remotely to do so until January 18, a Goldman Sachs spokesperson told CNN. Goldman Sachs cited “rising community infections” in
Continue Reading
By Eric Cheung and Tara John, CNN Business The independent Hong Kong news site Citizen News said it will be shutting down on Tuesday, citing the deteriorating media environment in the city and the need to protect its staff. Citizen News was the largest remaining independent news outlet in Hong Kong following the shuttering of
Continue Reading
By Chris Isidore, CNN Business What’s Elon Musk doing with the billions he’s collected in the past two months from selling shares in Tesla? It seems possible, maybe even likely, that he’s put at least some of the money into SpaceX, the other company of which he is CEO and primary shareholder. Most of the
Continue Reading By Peter Valdes-Dapena, CNN Business Tesla has opened a new showroom in Xinjiang, a region in western China that is purported to be the site of abuse and brutal repression of the country’s Uyghurs, a predominantly Muslim ethnic minority. The region has become a major geopolitical hotspot in recent years, and a key source of
Continue Reading