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By Jordan Valinsky, CNN Business Shares of Bed Bath & Beyond plunged nearly 30% in early trading Thursday after the retailer revealed that foot traffic “slowed significantly” in August, pummeling its second-quarter earnings. CEO Mark Tritton said in a release that the chain’s sales were solid in June, but then nosedived in the following two
Continue ReadingOpinion by Jacob J. Lew for CNN Business Perspectives Imagine you’re out to dinner. At the end of the meal, you pay your bill, which helps meet the restaurant’s food, rent and wage costs. But some customers slip out without paying. They disappear into the night, leaving the business to pay the same expenses with
Continue ReadingCNN By Anneken Tappe, CNN Business The economic report card on President Joe Biden’s first full quarter as president: Good, but not great. America’s economy grew at a slightly faster rate than previously reported in the second quarter thanks to increased consumer spending, exports and inventory investment, the Bureau of Economic Analysis reported Thursday. It
Continue ReadingBy Jordan Valinsky, CNN Business McDonald’s has set a return date for the McRib. The limited-time offering is returning to menus nationwide on November 1, McDonald’s announced Thursday. This year marks the 40th anniversary of the McRib, which was a dud on its debut but has bounced back to become a fan-favorite menu item. The
Continue ReadingCNN, CNNBUSINESS By Kerry Flynn, CNN Business Ozy Media announced on Friday that it will cease operations. The decision comes five days after the The New York Times published a bombshell report about its business practices, which kicked off additional scrutiny from other media outlets. “At Ozy, we have been blessed with a remarkable team
Continue ReadingBy Kerry Flynn, CNN Business Around midnight one Saturday late last year, Eva Rodriguez, 24, had trouble breathing. She lost her vision, started sweating and felt a sharp pain in her stomach. She worried she was having a heart attack. For two weeks leading up to that night, Rodriguez said recently, she had been working
Continue ReadingBy Walé Azeez, CNN Business Millions of people across Europe may not be able to afford to heat their homes this winter as gas and electricity prices soar. Experts, anti-poverty organizations and environmental campaigners are warning that the coronavirus pandemic and rising prices have intensified a longstanding problem tied to a combination of high energy
Continue ReadingBy Julia Horowitz, CNN Business A resilient stock market, fueled by central bank and government stimulus, is pushing a record number of companies to raise money by offering shares on public markets. That’s been a huge boon for the Wall Street banks orchestrating the deals. “I honestly thought last year would be the busiest in
Continue ReadingBy Charles Riley, CNN Business A fuel crisis that threatened to stop the world’s fifth largest economy in its tracks appears to be easing. For nearly a week, British motorists have found service stations closed and long lines at those that still had gasoline and diesel. The shortages provoked an angry response from some members
Continue ReadingBy Jill Disis, CNN Business Factories in China are struggling at a time when the world’s second largest economy has to contend with yet another concern: a growing power supply crunch. A government survey of manufacturing activity released Thursday fell to 49.6 in September, down from 50.1 in August. Any reading below 50 indicates contraction
Continue ReadingBy Vanessa Yurkevich, CNN The restaurant industry is in worse shape now than it was three months ago, according to a new survey by the National Restaurant Association. Seventy-eight percent of restaurant operators said they have experienced a decline in customer demand in recent weeks because of Delta variant concerns, according to survey data released
Continue ReadingBy Nathaniel Meyersohn, CNN Business Dollar Tree for decades has sold most of its products for a dollar. Now it’s adding products for higher prices at thousands of stores. The company said Tuesday that it will begin selling items at $1.25 and $1.50 at some locations for the first time. It will also add $3
Continue ReadingCNN By Frank Pallotta, CNN Business Disney+ has found success with a series about the adventures of one bounty hunter in a galaxy far, far away. So why not two? “The Book of Boba Fett,” a new Star Wars series starring the franchise’s infamous bounty hunter, will premiere exclusively on the service on December 29,
Continue ReadingBy Frank Pallotta, CNN Business Disney+ has found success with a series about the adventures of one bounty hunter in a galaxy far, far away. So why not two? “The Book of Boba Fett,” a new Star Wars series starring the franchise’s infamous bounty hunter, will premiere exclusively on the service on December 29, Disney
Continue ReadingCNN By Rachel Metz, CNN Business Google Maps is making it easier to find the latest information about wildfires as part of a push to ensure the immensely popular app is more useful during emergencies. On Wednesday, Google said it’s adding a new wildfire layer to Google Maps, which users will be able to turn
Continue ReadingBy Rachel Metz, CNN Business Google Maps is making it easier to find the latest information about wildfires as part of a push to ensure the immensely popular app is more useful during emergencies. On Wednesday, Google said it’s adding a new wildfire layer to Google Maps, which users will be able to turn on
Continue ReadingCNN, CNNBUSINESS By Clare Duffy, CNN Business YouTube will remove videos spreading misinformation about any approved vaccine, not only those aimed at preventing Covid-19, the company announced in a blog post Wednesday. In a statement provided to CNN Business, YouTube also confirmed it would remove the channels of “several well-known vaccine misinformation spreaders” under the
Continue ReadingBy Alicia Wallace, CNN Business Bacon is more expensive for Americans than it has been in the past 40 years. And yes, that is accounting for inflation. That hankering for pork chops is costing you about 7% more than 12 months ago. The average price for that slab of bacon to accompany the Sunday morning
Continue ReadingBy Jeanne Sahadi, CNN Business Football season is here. The World Series is around the corner. NBA off-season trades are happening. And never has there been an easier time to bet on them, just by pulling out your phone. While it’s meant as a form of entertainment, ease of access, combined with Americans’ obsession with
Continue ReadingBy Matt Egan, CNN Business General Motors CEO Mary Barra will become the first-ever female chair of the Business Roundtable, a powerful CEO alliance, beginning in January. Barra said her election is an honor, and she pledged to continue to “help advance policies that offer greater economic growth and opportunities for all Americans.” She will
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