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CNN, CNN BUSINESS By Nathaniel Meyersohn, CNN New York (CNN) — Inflation-fatigued shoppers are heading to Walmart for groceries while they’re pulling back on nonessential purchases at other chains. Walmart (WMT), America’s largest retailer, posted strong sales last quarter and raised its outlook for 2023. The company said Thursday that sales at stores open for
Continue ReadingCNN, CNN BUSINESS By Catherine Thorbecke, CNN David Risher had a rocky first week at his job. Days after taking over as the new CEO of Lyft last month, Risher announced plans to “significantly reduce” the company’s workforce and stressed that the decision was his. The next week, Lyft revealed the extent of the layoffs:
Continue ReadingBy Catherine Thorbecke, CNN David Risher had a rocky first week at his job. Days after taking over as the new CEO of Lyft last month, Risher announced plans to “significantly reduce” the company’s workforce and stressed that the decision was his. The next week, Lyft revealed the extent of the layoffs: 26% of the
Continue ReadingBy Matt Egan and Bryan Mena, CNN President Joe Biden on Friday nominated economist and World Bank official Adriana Kugler to join the Federal Reserve’s powerful Board of Governors and Philip Jefferson to be the central bank’s vice chair. If confirmed, Kugler, a Colombian-American, would be the first Latino to serve on the Fed board,
Continue ReadingBy Bryan Mena, CNN US consumer sentiment worsened in May as Americans grew concerned about the economy’s direction and a potential default of the US government’s debt, according to a preliminary report from the University of Michigan Friday. The political impasse over raising the debt ceiling has dragged on for weeks and is inching closer
Continue ReadingBy Alexandra Peers, CNN Mother’s Day is one of the busiest days for the American restaurant industry, presenting a massive operational challenge to restaurants. That’s why it gained a reputation among waiters and restaurant staff as one of the most grueling days on the calendar. “Every server knows that working on Mother’s Day is hell.
Continue ReadingBy Chris Isidore, CNN Elon Musk on Friday named longtime media executive Linda Yaccarino as the new CEO of Twitter, months after he promised to step back from the role. “I am excited to welcome Linda Yaccarino as the new CEO of Twitter!” Musk wrote in a tweet on Friday. He said she “will focus
Continue ReadingBy Nathaniel Meyersohn, CNN Nordstrom. Walmart. Whole Foods. Starbucks. CVS. These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts. Several forces are pushing chains out of some city centers: a glut of stores,
Continue ReadingBy Jordan Valinsky, CNN Adidas has decided what it’s going to do with its unsold Yeezy merchandise. At an investors’ conference Thursday, Adidas CEO Bjørn Gulden said that the apparel company is going to “sell parts of this inventory and donate money to the organizations that are helping us and that was also hurt by
Continue ReadingBy Anna Cooban, CNN The United Kingdom’s economy limped along in the first quarter of this year as consumers spent less on services and strike action took its toll. The country’s gross domestic product (GDP) ticked up 0.1% in the first three months of 2023, compared with the previous quarter, data from the Office for
Continue ReadingBy Barbie Latza Nadeau, Valentina Di Donato and Anna Cooban, CNN Italy’s government convened crisis talks Thursday to investigate the reasons behind a surge in prices for pasta, one of the country’s most beloved and culturally important foods. Adolfo Urso, the country’s minister for enterprise, chaired a commission of lawmakers, pasta producers and consumer rights
Continue ReadingBy Laura He, CNN Tesla will recall more than 1.1 million cars in China due to potential safety risks, the country’s top market regulator said on Friday. Starting May 29, the US company will take back 1,104,622 vehicles that were produced between January 12, 2019, and April 24, 2023, the State Administration for Market Regulation
Continue ReadingBy Laura He, CNN China’s carbon emissions will likely hit a new record in 2023 on the back of an economic rebound, but a rapid expansion in green energy will enable its emissions to peak soon, a global energy think tank said on Friday. China, the world’s largest emitter of greenhouse gas, saw its carbon
Continue ReadingBy Michelle Toh, CNN Australia’s trade chief has arrived in China to lobby for the removal of curbs from its top trading partner, three years after relations soured when the previous administration in Canberra called for an investigation into the origins of Covid-19. Trade Minister Don Farrell arrived in Beijing on Thursday for a three-day
Continue ReadingBy Oliver Darcy, CNN America’s most-watched PBS station is on the verge of going dark. The Republican governor of Oklahoma, Kevin Stitt, recently vetoed a bill that would have renewed the license and provided millions in funding for the Oklahoma Educational Television Authority, the statewide PBS network that reaches more than 650,000 viewers a week.
Continue ReadingBy Vanessa Yurkevich, CNN Victoria Abraham graduated from New York University last year, ready to enter the job market. She is a self-proclaimed “fat activist” who has found her voice as a content creator online, but has concerns about applying for new job. “Walking into a job interview as a fat person, I’m already at
Continue ReadingBy Bryan Mena and Tami Luhby, CNN In CNN’s town hall with Donald Trump on Wednesday, the former president said a US default on its debt may be “psychological” and that it “could be nothing” or perhaps just “a bad week or a bad day.” Economists disagree; many of them. As the political impasse continues
Continue ReadingBy Clare Duffy, CNN Elon Musk on Thursday said he’s found a new CEO to take over Twitter, months after he first promised to step back from the role. The new CEO will assume the role at Twitter Inc., which recently changed its name to X Corp., in the coming weeks, Musk said. He did
Continue ReadingBy Nicole Goodkind, CNN JPMorgan Chase CEO Jamie Dimon sharply criticized former President Donald Trump on Thursday, saying the 2024 presidential candidate doesn’t understand the debt ceiling and what is at stake. It is just “one more thing he doesn’t know very much about,” Dimon told Bloomberg Television. Trump said in a CNN town hall
Continue ReadingCNN, KPIX By Vanessa Yurkevich, CNN Victoria Abraham graduated from New York University last year, ready to enter the job market. She is a self-proclaimed “fat activist” who has found her voice as a content creator online, but has concerns about applying for new job. “Walking into a job interview as a fat person, I’m
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