Skip to Content
The South Side of Chicago isn’t typically a place where major companies look to open corporate offices. Most of the city’s Fortune 500 firms are located downtown — with views of the Chicago River or Lake Michigan — or in the nearby suburbs. Then there’s Discover, the credit card and financial services company based in
Continue ReadingThe United Kingdom’s competition watchdog has launched an investigation into Apple after app developers complained that they’re being forced to use the company’s payment systems and distribute their products via its App Store. The Competition and Markets Authority said Thursday that it will examine whether Apple is making developers agree to “unfair or anti-competitive” terms
Continue ReadingThe deep-sea oil and gas industry has a vast and costly infrastructure to maintain. Wells, other equipment, and thousands of kilometers of pipeline must be installed, inspected and repaired. Now, cutting-edge underwater drones and robots are being developed that could make the work safer, cheaper and less polluting. Among them is Eelume, a six-meter-long, snake-like
Continue ReadingCentral banks are usually tasked with keeping inflation in check, while promoting economic growth and employment. Now, add fighting the climate crisis to the list. On Wednesday, the Bank of England was given a new mandate to support the UK government’s ambition to become a net zero economy by 2050. “I am today updating the
Continue ReadingParamount is one of the most iconic studios in Hollywood, but can the name “Paramount” translate to streaming? ViacomCBS is banking on it. Paramount+, the rebranded service from ViacomCBS, launches Thursday with a lot of content from the company’s biggest brands, including TV shows and movies from Paramount Pictures, CBS, Nickelodeon, and MTV as well
Continue ReadingThe Disney Store, once a mall mainstay, is drastically reducing the number of locations it has in the United States and Canada. Disney said it’s closing at least 60 stores in North America, amounting to about 35% of its locations in the region. Moving forward, Disney is placing a larger emphasis on its e-commerce business
Continue Reading
In the wake of the GameStop stock trading frenzy, the Biden administration recently said it’s worth evaluating the impact of a tax on financial transactions, which would include the purchases and sales of stocks, bonds and derivative contracts, such as options and futures. Some claim such a tax could stabilize markets and raise revenue. They
Continue ReadingThe vast majority of companies in the S&P 500 have reported results from the last three months of 2020, and Wall Street is calling it: The earnings recession has come to an end. What’s happening: By the end of last week, 96% of companies in the benchmark index had posted results, according to FactSet. Per
Continue ReadingHong Kong has been booted off an index of economic freedom that it used to lead, dealing another blow to the city’s standing as a global business hub. On Wednesday, the Heritage Foundation, a conservative Washington think tank, revealed its annual ranking of the world’s freest economies, leaving the former British colony off the list.
Continue ReadingGlobal stocks are falling as a bond sell-off continues to rattle markets. Hong Kong’s Hang Seng Index led losses in Asia Pacific, tumbling nearly 2.2% on Thursday. The Shanghai Composite and Japan’s Nikkei 225 each fell roughly 2.1%, while South Korea’s Kospi and Australia’s S&P/ASX 200 lost 1.3% and 0.8%, respectively. European stocks fell in
Continue Reading
Asian stocks are falling Thursday as a bond sell-off continues to rattle markets. Hong Kong’s Hang Seng Index was last down 2.5%, while Japan’s Nikkei 225 fell 2.3%, accelerating from earlier losses. The Shanghai Composite dropped 1.9%. South Korea’s Kospi and Australia’s S&P/ASX 200 lost 1.1% and 0.8% respectively. The declines in Asia Pacific follow
Continue ReadingA version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. There are many ways to measure an American president’s accessibility. One way is by counting press conferences. Right now, by that count, President Biden looks invisible. CNN White House reporter Kevin Liptak shared this note
Continue ReadingA SpaceX rocket prototype, known as SN10, soared over South Texas during test flight Wednesday before swooping down to a pinpoint landing near its launch site. Approximately three minutes after landing, however, multiple independent video feeds showed the rocket exploding on its landing pad. SpaceX’s SN10, an early prototype of the company’s Starship Mars rocket,
Continue ReadingUS Olympians Sue Bird, Alex Morgan, Simone Manuel and Chloe Kim have teamed up to launch a new company aimed at focusing attention on women in sports and the media. They announced Tuesday the formation of TOGETHXR, which they described as a media and commerce company aimed at Gen Z and young millennial women. “This
Continue ReadingEditor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Tonight: Sands is leaving Las Vegas; Texas is being, well, Texas; and now that we’re thinking about traveling this year … Moon trip 2023? Who’s in? A RUDE AWAKENING Remember last
Continue ReadingDollar Tree said Wednesday that it will open 600 new stores this year, continuing dollar store chains’ torrid growth across the United States. The announcement comes as the pandemic has taken a toll on many retailers and forced thousands of stores to close. But dollar stores have surged as economically-strapped customers seek out bargains on
Continue ReadingCiting the coronavirus pandemic, the Sinclair Broadcast Group said on Wednesday that it will reduce its workforce by approximately 5%, amounting to hundreds of layoffs across the company. “The impact of the COVID-19 pandemic continues to be felt across all sectors of the economy, something that can have a profound impact on a company as
Continue ReadingFacebook said it plans to lift a moratorium on US political advertising this Thursday, ending a ban that had been in place since the November elections. The move reopens the door to ads on Facebook by political campaigns as well as issue advertisers. It follows what Facebook said was “a lot of feedback” on its
Continue ReadingDollar Tree said Wednesday that it will open 600 new stores this year, continuing dollar store chains’ torrid growth across the United States. The announcement comes as the pandemic has taken a toll on many retailers and forced thousands of stores to close. But dollar stores have surged as economically-strapped customers seek out bargains on
Continue ReadingAnother SpaceX rocket prototype was fueled and ready for a test flight Wednesday, but in the final moments before liftoff, the vehicle’s engines sputtered off and the company announced it had aborted the flight. The company will recycle the rocket’s fuel and attempt liftoff again around 4 pm CT, according to SpaceX engineer John Insprucker
Continue Reading