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CNN, CNN BUSINESS 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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 ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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
Continue ReadingBy 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,
Continue ReadingCNN, CNN BUSINESS By Peter Valdes-Dapena, CNN Business The BMW Flow electric SUV concept can change hues at the press of a button, going from white to gray or black and back again in moments. While it can’t go beyond shades of gray and, even at that, it lacks the subtlety and depth of real
Continue ReadingBy Peter Valdes-Dapena, CNN Business The BMW Flow electric SUV concept can change hues at the press of a button, going from white to gray or black and back again in moments. While it can’t go beyond shades of gray and, even at that, it lacks the subtlety and depth of real car paint, the
Continue ReadingBy Jeanne Sahadi, CNN Business Millions of people have decided to quit their jobs. If you’re one of them, you’ll have a lot to wrap up before your last day of work. Before handing in your company ID, decide what you want to do with any 401(k) savings you now have in your soon-to-be-former employer’s
Continue ReadingBy Jordan Valinsky, CNN Business Bed Bath & Beyond revealed the locations of 37 of the approximately 200 stores it plans close in the coming weeks. The plans, which were announced two years ago, are part of Bed Bath & Beyond’s multi-year transformation that includes creating new, private labels, remodeling stores and focusing on e-commerce
Continue ReadingBy Frank Pallotta, CNN Business After hosts of NBC’s late night shows were hit with Covid, the network’s morning show had a host of its own catch the virus. Hoda Kotb — one of the hosts of the NBC’s “Today” — said on Thursday that she has tested positive for Covid. “Thx for well wishes!
Continue ReadingBy Jordan Valinsky, CNN Business Coca-Cola is tapping into the canned cocktail craze with a boozy version of its Fresca soda. In a partnership between Corona brewer Constellation Brands and Coke, the companies will launch Fresca Mixed, a spirit-based cocktail, later this year. Fresca is the second non-alcoholic drink owned by Coke to be turned
Continue ReadingBy Anneken Tappe, CNN Business America closed out 2021 with strong jobs gains, economists predict. But just days into the new year, the Omicron variant is causing infections to soar and businesses to struggle. Will that derail the jobs recovery? It’s a bit too early to tell, in part because it’s unclear how long the
Continue ReadingBy Alicia Wallace, CNN Business The Omicron variant may be hurtling the labor market, hospitals, travel and in-person events into states of upheaval, but it’s not expected to deter consumers from spending, Wells Fargo economists said Wednesday. Consumer spending is expected to remain strong in 2022, despite an obstinate virus, a new variant causing a
Continue ReadingBy Julia Horowitz, CNN Business Retailers can breathe a sigh of relief now that the Christmas holiday is over, capping months of laborious planning to keep shelves stocked over the busy shopping period. But it may not be much of a respite. What’s happening: A new index from the Federal Reserve Bank of New York
Continue ReadingBy Jordan Valinsky, CNN Business Taco Bell is rolling out what’s arguably the tastiest subscription service yet: daily tacos. For $10 a month, Taco Bell customers can get one taco per day for 30 consecutive days. The national program, called Taco Lover’s Pass, is available to purchase beginning Thursday for members of its rewards program
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