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By Paul R. La Monica, CNN Business Stop us if you’ve heard this before: Market strategists are predicting that 2022 will finally be the year when investors choose value stocks -— like banking, oil, consumer, industrial and healthcare companies — over Big Techs, such as Apple, Amazon and Facebook owner Meta. It’s been a common
Continue ReadingBy Vanessa Yurkevich, CNN Business Ford Motor Co. is pushing its return-to-office date to March over concerns over new Covid-19 concerns, the company said Monday. Assembly line workers returned to work in May 2020, but many office continued to work remotely due to the pandemic. Office workers were getting ready to head back to the
Continue ReadingBy Danielle Wiener-Bronner, CNN Business Three years after ditching Qdoba Mexican Eats, Jack in the Box is scooping up Del Taco in a $575 million deal. The deal, which is expected to close early next year, doubles down on Jack in the Box’s success with tacos. Jack in the Box serves an eclectic array of
Continue ReadingBy Nathaniel Meyersohn, CNN Business Kohl’s should spin off its online business or find a buyer to take the whole company private, an activist investor said Monday. “The public market is not appreciating Kohl’s in its current form,” Engine Capital, an activist fund, said in a letter to Kohl’s board of directors. “There is no
Continue ReadingCNN, CNNBUSINESS By Jeanne Sahadi, CNN Business How you let employees go matters for your company’s reputation. Consider Better.com’s CEO, who just fired roughly 900 employees in a very brief Zoom call and quickly faced backlash. No one will ever react positively to hearing they are terminated — whether it’s due to balance sheet problems
Continue ReadingCNN, NYC MEDIA By Aaron Cooper, Matt Egan and Chris Isidore, CNN Business All private sector employers in New York City will now be required to implement a Covid-19 vaccine mandate by December 27, the city’s mayor Bill de Blasio announced Monday. This new move, which de Blasio announced Monday on MSNBC, means everyone who
Continue ReadingBy Anneken Tappe It’s a strong start to the week on Wall Street, where the Dow finished up more than 600 points amid a rebound from last week’s losses. The Dow finished up 1.9%, or some 647 points, while the broader S&P 500 climbed nearly 1.2%. The Nasdaq Composite, which faced the steepest selloff Friday,
Continue ReadingBy Kerry Flynn, CNN Business At Nasdaq Monday, BuzzFeed CEO Jonah Peretti — flanked by Instagram celebrity “Dude with Sign” and people holding oversized yellow “OMG” and “win” signs — rang the opening bell for BuzzFeed’s debut as a public company. Simultaneously at BuzzFeed’s headquarters in New York, an acrobatic cat performed. It was both
Continue ReadingBy Matt Egan, CNN Business The shell company that is facilitating former President Donald Trump’s return to Wall Street disclosed Monday that federal regulators are investigating the deal. In October, Trump announced a new media venture that would “stand up to the tyranny of Big Tech.” That new entity, chaired by the former president, agreed
Continue ReadingCNN By Matt Egan, CNN Business The shell company that is facilitating former President Donald Trump’s return to Wall Street disclosed Monday that federal regulators are investigating the deal. In October, Trump announced a new media venture that would “stand up to the tyranny of Big Tech.” That new entity, chaired by the former president,
Continue ReadingReuters Tesla is under regulatory investigation after a whistleblower alleged the company failed to properly disclose fire risks associated with solar panel defects. The investigation raises regulatory pressure on the world’s most valuable automaker, which already faces a federal safety probe into accidents involving its driver assistant systems. Concerns about fires from Tesla solar systems
Continue ReadingBy Michelle Toh, CNN Business Hong Kong has warned the Wall Street Journal that it may have broken electoral law by “scaremongering” in a recent editorial about the upcoming vote for the city’s legislative council. On Monday, the US newspaper printed a letter from Hong Kong’s Secretary for Constitutional and Mainland Affairs, Erick Tsang, under
Continue ReadingBy Aaron Cooper, Matt Egan and Chris Isidore, CNN Business All private sector employers in New York City will now be required to implement a Covid-19 vaccine mandate by December 27, the city’s mayor Bill de Blasio announced Monday. This new move, which de Blasio announced Monday on MSNBC, means everyone who works in the
Continue ReadingBy Chris Isidore, CNN Business Upstart electric vehicle maker Lucid Motors disclosed Monday it has received a subpoena from the SEC, sending its shares plunging 10% in early trading. The company said the probe “appears to concern” the SPAC deal that took it public earlier this year, along with “certain projections and statements.” Lucid raised
Continue ReadingBy Julia Horowitz, CNN Business Over the past week, as markets were churning on fears that the Omicron variant could derail the global economic recovery, bitcoin prices stayed surprisingly stable. Then came the weekend. What’s happening: The cryptocurrency at one point plunged more than 20% on Saturday. It’s now trading at roughly $48,600, down from
Continue ReadingBy Danielle Wiener-Bronner, CNN Business DoorDash is jumping on the speedy delivery trend. Starting Monday, the company is offering 10- to 15-minute delivery in New York City from a new Dashmart, which stocks groceries, household goods and packaged restaurant products. Customers within the delivery zone will see the new option under a “convenience” tab in
Continue ReadingBy Jordan Valinsky, CNN Business Kentucky Fried Chicken is testing a new dipping sauce in three US cities. Beginning Monday, customers in Washington, Atlanta and Dallas can add “Sweet Hot Capital City” mambo sauce to their orders for a limited time. The chain describes the flavor as “sweet, spicy and tangy,” and one that “perfectly
Continue ReadingCNN, HLN By Ramishah Maruf, CNN Business Better.com CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday abruptly informing the more than 900 employees on the call they were being terminated just before the holidays. “If you’re on this call, you are part of
Continue ReadingBy Laura He, CNN Business Shares of Evergrande plummeted to a new record low on Monday as the Chinese developer once again teetered on the brink of default. Evergrande’s stock closed down 20% at 1.81 Hong Kong dollars ($0.23), the lowest since it listed in Hong Kong in 2009. It has lost 87% of its
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. Chris Cuomo’s termination by CNN is the latest example of upheaval in television news. The 7pm Eastern hour on Fox News has been home to rotating hosts for nearly an
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