Money

By Laura He, CNN Business China has decided it’s time to loosen its purse strings and pump money into the economy in a bid to stave off threats to the recovery. The People’s Bank of China on Monday said it would cut the reserve requirement ratio for most banks by half a percentage point, starting

By Tami Luhby, CNN Business The coronavirus pandemic has worsened the massive financial gap between rich and poor around the world, a new report has found. Global billionaires last year enjoyed the steepest increase in their share of wealth since the World Inequality Lab began keeping records in 1995, according to the research group’s analysis

CNN, CNN BUSINESS By Moira Ritter Days after Better.com’s CEO unceremoniously fired 900 people over Zoom, several executives are handing in their resignation letters. Three of the companies top communications executives — Tanya Gillogley, head of public relations, Melanie Hahn, head of marketing, and Patrick Lenihan, VP of communications — all resigned, according to multiple

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 or their

By Oliver Darcy, CNN Business Fred Hiatt, The Washington Post’s longtime editorial page editor, died on Monday morning. He was 66 years old. The Post’s newsroom was informed of Hiatt’s death on Monday afternoon by publisher Fred Ryan. The Post said in its obituary that Hiatt had cardiac arrest on November 24 while visiting his

By 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

By 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

CNN, 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

CNN, 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

By 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,

By 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

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, agreed

CNN 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,