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By Hanna Ziady, CNN Business Marks & Spencer is closing 11 of its stores in France because of supply chain problems related to Brexit. The UK retailer on Thursday said “lengthy and complex” export processes introduced after Brexit had made it difficult to get fresh products such as sandwiches and salads from Britain to Europe.
Continue ReadingBy Julia Horowitz, CNN Business The Delta variant continues to be a concern for retailers. But expectations for a merry holiday season remain intact. What’s happening: US retail sales increased last month as consumers continued to dish out on clothing, furniture and groceries. Sales beat economists’ expectations, increasing 0.7% in August from the month prior,
Continue ReadingBy Charles Riley, CNN Business Cigarette giant Philip Morris International has taken control of UK inhaler maker Vectura despite objections from health care charities. The producer of Marlboro and Parliament cigarettes said in a statement on Thursday that it had secured nearly 75% of Vectura’s shares, making it the majority shareholder. More than 45% of
Continue ReadingBy Jordan Valinsky, CNN Business The newest version of Bud Light is even lighter. Anheuser-Busch has announced the launch of Bud Light Next, the company’s first-ever zero-carb beer. The beverage, which hits shelves in early 2022, comes as health-conscious customers have gravitated toward light beers in recent years — and beer in general is in
Continue ReadingCNN, CNN BUSINESS By Jackie Wattles, CNN Business A SpaceX rocket soared into orbit Wednesday evening, carrying four people — none of whom are professional astronauts — and kicking off the first-ever mission to Earth’s orbit crewed entirely by tourists. The launch pad at NASA’s Kennedy Space Center in Florida was dramatically illuminated with spotlights
Continue ReadingBy Jackie Wattles, CNN Business A SpaceX rocket soared into orbit Wednesday evening, carrying four people — none of whom are professional astronauts — and kicking off the first-ever mission to Earth’s orbit crewed entirely by tourists. The launch pad at NASA’s Kennedy Space Center in Florida was dramatically illuminated with spotlights against the night
Continue ReadingBy Sara Ashley O’Brien, CNN Business Erika Cheung, a former Theranos lab worker turned whistleblower, testified Wednesday during the trial of founder Elizabeth Holmes about how she grew increasingly uncomfortable about the startup’s ability to accurately conduct blood tests on patients. In her testimony, Cheung detailed her growing concerns about the company’s devices failing quality
Continue ReadingBy Samantha Murphy Kelly, CNN Business Apple’s new iPhone 13 and 13 Pro lineup features all of the predictable upgrades: faster performance, longer lasting battery life, better screen and new colors. But the biggest — and arguably only — surprise with the lineup this year isn’t something found inside a device: the pricing. Apple kept
Continue ReadingBy Chris Isidore, CNN Business There is a winner in the race to build the first consumer ready electric pickup truck, and it isn’t Tesla, Ford or General Motors. It’s Rivian. Who? The startup truck maker’s first R1T pickup come off the line in a former Mitsubishi plant in Normal, Illinois on Tuesday, company CEO
Continue ReadingBy Jackie Wattles, CNN Business For centuries, a setting sun has signaled the end of fasting rituals on holidays such as Ramadan and Yom Kippur, a cue to tuck into a delicious meal after a full day of deprivation. But what if the sun’s clockwork were to suddenly change, as it does for astronauts riding
Continue ReadingBy Anna Bahney, CNN Business A gargantuan residence in Los Angeles dubbed “The One” by its developer is now on track to be sold after the owner defaulted on more than $100 million in loans and debt, according to court documents. In an Instagram post last summer, Nile Niami, the project’s developer, pitched the 105,000-square-foot
Continue ReadingBy Kerry Flynn, CNN Business A contentious union election that determines the fate of future newsroom organizing came to an end Tuesday night. The results of the election for the Writers Guild of America, East council favored candidates who endorsed future organizing of and support for the digital media industry, prompting digital media workers to
Continue ReadingBy Clare Sebastian and Pamela Boykoff for CNN Business When the pandemic first hit last year, Brian Wolin was working as a chiropractor, and his brother-in-law, Evan Shulman, ran a business making luxury retail displays for brands, such as Gucci and Chanel. But once the lockdowns began, they both found themselves unable to work. That’s
Continue ReadingBy Kerry Flynn, CNN Business Live audio app Clubhouse boomed during the early months of the pandemic as people craved social connections and entertainment while spending most of their time isolated and inside. Felecia Wellington Radel joined the app last December and that same day tweeted, “Listening to people talk about Spider-Man for the past
Continue ReadingCNN By Kerry Flynn, CNN Business Live audio app Clubhouse boomed during the early months of the pandemic as people craved social connections and entertainment while spending most of their time isolated and inside. Felecia Wellington Radel joined the app last December and that same day tweeted, “Listening to people talk about Spider-Man for the
Continue ReadingBy Nathaniel Meyersohn, CNN Business Shoppers these days may need to take a cue from a Rolling Stones hit when it comes to setting their expectations: You can’t always get what you want. For years, Amazon and the rise of online shopping trained consumers to expect everything from groceries to furniture delivered to their doorsteps
Continue ReadingCNN, CNNBUSINESS By Chris Isidore, CNN Business Tracking used car prices is enough to give anyone whiplash. Since the start of the pandemic and the resulting disruptions to new car supply chains first sent prices soaring, used car prices posted their largest annual increase on record — up 45% in the 12 months ending in
Continue ReadingBy Julia Horowitz, CNN Business Chevron, the $186 billion US oil giant, is taking steps to diversify its business away from fossil fuels as concerns about the climate crisis grow. What’s happening: This week, the company announced that it will spend $10 billion through 2028 on low-carbon energy sources like renewable diesel fuel and hydrogen,
Continue ReadingBy Jordan Valinsky, CNN Business Apple is releasing iOS 15, its eagerly anticipated operating system for iPhone and iPads, on September 20. The release date was confirmed in an Apple press release about the newly announced iPhones that go on sale Friday. Per usual, the new iOS version will be available as a free download
Continue ReadingBy Diksha Madhok, CNN Business One of the world’s top gambling hubs may be staring at a dramatic overhaul — and investors are worried. On Tuesday, Macao announced a 45-day public consultation that observers fear will lead to tighter regulations on the lucrative gambling industry in an extension of the recent crackdown on private business
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