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CNN, CNN BUSINESS By Parija Kavilanz, CNN Business Two years of pandemic uncertainty forced many couples to postpone or even cancel their nuptial celebrations. But weddings are coming back with gusto. This year’s wedding boom is projected to be big, according to a new report from wedding planning site The Knot. It anticipates as many
Continue ReadingBy Parija Kavilanz, CNN Business Two years of pandemic uncertainty forced many couples to postpone or even cancel their nuptial celebrations. But weddings are coming back with gusto. This year’s wedding boom is projected to be big, according to a new report from wedding planning site The Knot. It anticipates as many as 2.6 million
Continue ReadingBy Nathaniel Meyersohn, CNN Business Toys “R” Us filed for bankruptcy in 2017 and closed all of its stores. That’s left an opening for rivals like discount toy chain Five Below to fill the gap. Five Below, as its name suggests, sells most of its toys, games, room decorations and tech accessories for less than
Continue ReadingCNN By Sara Ashley O’Brien, CNN Business After going 27 years without a US union, Amazon now faces a test from elections at not one but two of its warehouses. A union reelection at the company’s Bessemer, Alabama, facility concluded Friday after a nearly two-month voting period by mail. Beginning that same day, thousands of
Continue ReadingBy Chris Isidore, CNN Business Problems with global supply chains were supposed to be getting better by now. Instead, experts say they are getting worse. Russia’s invasion of Ukraine, which cut off exports from Ukraine and put Russian businesses under sanction, has set off a series of new supply-chain bottlenecks. So has a surge in
Continue ReadingBy Anneken Tappe, CNN Business America’s private sector added 455,000 jobs in March, the ADP Employment Report showed Wednesday. That was slightly better than economists had expected but fell short of the February report, which was revised higher. It was also the weakest monthly gain in private sector jobs since August. This relative slowdown is
Continue ReadingCNN By Anna Bahney, CNN Business The federal government’s emergency rental assistance program helped prevent more than one million evictions last year. An estimated 1.36 million renters avoided an eviction filing in 2021 as a result of the government’s unprecedented $46.5 billion rent relief program and other protections, according to a recent analysis by Princeton
Continue ReadingBy Parija Kavilanz, CNN Business Makeup that smells like your favorite Dunkin’ coffee and donut combo? Really. It’s a thing. TikTok fav beauty brand e.l.f Cosmetics is launching a limited-edition makeup collection inspired by Dunkin’s coffees and donuts. Even the packaging for the makeup looks like you’re taking home a box of donuts, not lip
Continue ReadingBy Julia Horowitz, CNN Business As Wall Street regains its footing following the invasion of Ukraine, stocks have been staging a steady comeback. But the market for US government bonds remains tumultuous, flashing a recession signal that’s historically caused investors to worry. What’s happening: Yields on the two-year Treasury note, which move opposite prices, briefly
Continue ReadingBy Matt Egan, CNN Business Russia’s invasion of Ukraine made the country a pariah in the global energy market. Since the war started, a de facto embargo on Russian oil has emerged, with oil companies, trading houses, shippers and banks backing away, all at the same time. Now, however, there are signs that Russian energy
Continue ReadingBy Julia Horowitz, CNN Business In the past 12 months, a record number of Americans have quit their jobs, and workers around the world have been paying attention. “The Great Resignation is people saying, ‘Whatever the situation is, I want better,’” Patrecia Ming Buckley told CNN Business. The 35-year-old, who is based in Sydney, made
Continue ReadingStory by Reuters and Angela Dewan, CNN Business The world generated a record 10% of its electricity from wind and solar in 2021 and clean sources accounted for 38% of total power supply — even more than coal. That’s according to a report published on Wednesday by Ember. The independent climate think tank found that
Continue ReadingBy Mark Thompson, CNN Business Germany issued an “early warning” of possible natural gas shortages on Wednesday over a payments dispute with Russia that could lead to energy rationing in Europe’s biggest economy. Moscow said last week that it wanted to be paid in rubles, rather than US dollars or euros as per existing gas
Continue ReadingBy Esha Mitra and Rhea Mogul, CNN Firefighters in India’s capital said Wednesday they are close to extinguishing a fire at a landfill site that has been burning for nearly two days, cloaking the area in a toxic haze and choking residents. The blaze broke out Monday at the Ghazipur landfill east of New Delhi,
Continue ReadingCNN, CNN BUSINESS By Frank Pallotta, CNN Business Will Smith striking Chris Rock at Sunday’s Academy Awards will go down as one of the most shocking moments in Oscars history. And Brian Snyder was there to document it. The Reuters photojournalist was one of the photographers who captured the moment Sunday and his photo —
Continue ReadingBy Danielle Wiener-Bronner, CNN Business A month after setting his sights on McDonald’s over pig welfare, investor Carl Icahn has turned his attention to Kroger. Icahn is planning to nominate two directors to the company’s board over the issue, the retailer said Tuesday. Shareholders will be able to vote for the nominees’ placement on the
Continue ReadingBy Nicole Goodkind, CNN Business President Joe Biden delivered a strong message to corporate executives this week in his 2023 spending plan: Share the wealth. His administration wants to discourage stock buybacks, which critics say allow ultra-wealthy executives to manipulate markets while funneling corporate profits into their own pockets instead of the economy. Last year,
Continue ReadingOpinion by Bill Carter for CNN Business Perspectives While Will Smith apologized to Chris Rock and the Academy Tuesday for the slap heard around the world, it doesn’t detract from the stupidity of his actions or greatly minimize the damage that he has done. Smith could have done a few different things at the Academy
Continue ReadingBy Jennifer Korn The latest crypto hack has targeted a gaming-focused blockchain network that supports the popular video game Axie Infinity. Hackers made off with about $625 million worth of Ethereum and USDC, two cryptocurrencies, in one of the largest crypto hacks of all time. The hackers breached the Ronin Network, an independent and Ethereum-compatible
Continue ReadingBy Lucy Bayly, CNN Business The bond market just flashed a warning sign that has correctly predicted almost every recession over the past 60 years: an inversion of the US Treasury note yield curve. An inverted yield curve is often seen as a signal that investors are more nervous about the immediate future than the
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