CNN – Business/Consumer

By Allison Morrow, CNN Business Bill Gates and Melinda French Gates are giving themselves a two-year trial period to see if they can co-parent the massive charitable foundation that they have treated as another one of their children. When the couple announced their divorce two months ago, they said they would both stay on as

By Charles Riley, CNN Business Talk about buyer’s remorse. On Tuesday, shares in Didi crashed 20% after Chinese authorities opened an investigation into the ride-hailing giant that raised $4.4 billion last week in a massive IPO in New York. The botched IPO is bad news for investors. It’s also bad for the New York Stock

By Nectar Gan and Yong Xiong, CNN Business WeChat has deleted more than a dozen LGBT accounts run by university students, sparking fears that safe spaces for China’s sexual and gender minorities are going to shrink even further. On social media Tuesday, LGBT rights supporters protested the abrupt closure of these accounts by the Tencent-owned

By Hanna Ziady, CNN Business The Ever Given has begun its journey out of the Suez Canal more than three months after it ran aground, clogging up one of the world’s most vital trade arteries and disrupting global supply chains. The quarter-mile long container ship, which blocked the Suez Canal for six days in March

By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The New York Times published its explosive story regarding disparaging comments Rachel Nichols made about colleague Maria Taylor on Sunday. On Tuesday night, the fallout was visible on ABC. Instead

By Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Welcome back to a four-day workweek, aka what every week should be. Let’s get into it. THE HANGOVER If you’re feeling a little sluggish today after

By Frank Pallotta, CNN Business Universal Pictures and Peacock announced that new films from the studio will head exclusively to NBCUniversal’s nascent streaming service after they play in theaters. Under a new licensing agreement, which starts with the 2022 theatrical slate, Universal’s movies will be available exclusively on Peacock no later than four months after

By Anneken Tappe, CNN Business Wall Street has been on fire the past several weeks, with the S&P 500 setting seven consecutive record highs through Friday’s close. That streak came to an end Tuesday. The Dow fell 209 points, or 0.6%. The index had been down by as much as 427 points at one point

By Paul R. La Monica, CNN Business Many investors are still betting against top momentum and Reddit meme stocks — despite getting burned in the process. Richard Branson’s space tourism company Virgin Galactic is one of the most heavily shorted stocks among customers of online broker TradeZero America. Shares of Virgin Galactic have nearly doubled

By Amy Woodyatt, CNN Business Trials of a shorter working week in Iceland have been hailed as an “overwhelming success” by researchers. Public sector employees taking part in two large trials between 2015 and 2019 worked 35-36 hours per week, with no reduction in pay. Many participants had previously worked 40 hours a week. The

By Jordan Valinsky, CNN Business Former Xerox CEO Ursula Burns has been named chairwoman of Teneo, the embattled consulting firm that is still dealing with the fallout from the resignation of its CEO, reportedly over drunken behavior at a party. Burns’ appointment is effective immediately, according to a company statement. She’s not a stranger to

By Frank Pallotta, CNN Business AMC, the largest theater chain in the world, announced Tuesday that it is ditching plans to sell 25 million additional shares of its stock. The company said in a filing with the Securities and Exchange Commission that it has withdrawn the proposal from the agenda for its annual shareholder meeting,

By Danielle Wiener-Bronner, CNN Business After years of declining sales, Subway is hoping to reintroduce itself to customers and convince them to give its sandwiches a shot. Next week, Subway restaurants across the country will unveil an updated menu designed to improve items across the board. The chain says the move is the biggest menu

By Charles Riley, CNN Business As the global economy kicks into high gear following the pandemic, demand for certain consumer goods and tech components has outstripped supply, leading to shortages of everything from cars to household appliances. Shortages are not something consumers in developed economies are used to dealing with. They are annoying. But they

By Michelle Toh, CNN Business Didi shares plunged almost 20% Tuesday in New York as fallout continued over news of the company’s troubles in China. The company’s stock, which made its US debut only last week, closed down 19.6% on Tuesday at $12.49, well below its closing price of $15.53 on Friday. Tuesday was the

By Diksha Madhok, CNN Business India has been hobbled by an economic slump and a brutal wave of coronavirus that new research shows pushed millions of people into poverty. But as these Indians struggle to live on a few dollars a day, the country’s ultra-wealthy have gotten even richer and more influential, as their combined

By Charles Riley and Chris Liakos, CNN Business Oil prices soared on Tuesday after major producers, including Saudi Arabia and the United Arab Emirates, fell out over plans to increase production in the face of rising global demand. The price of Brent crude, the global benchmark that has surged roughly 50% this year, rose above