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By Jordan Valinsky, CNN Business Delivery is a shopper’s dream — but it’s an expensive hassle for businesses, even for mega-corporations like Target. So stores are trying to entice shoppers to split the baby: Come to the store and someone will deliver the items … to your car. To persuade customers to do that, Target
Continue ReadingCNN By Matt McFarland, CNN Business Bob Galyen has spent his career building electric car batteries. And he thinks the United States has a problem. Galyen, who engineered the battery for the General Motors EV1, the first mass-produced electric vehicle, and also served as chief technology officer at a Chinese company that’s the top battery
Continue ReadingBy Julia Horowitz, CNN Business Home prices in the United States increased at the fastest rate on record in 2021. That’s drawn in a flood of investors looking to cash in on the boom. What’s happening: Investors bought 18.4% of homes sold across the country during the last three months of the year, according to
Continue ReadingBy Danielle Wiener-Bronner, CNN Business Restaurants have a delivery problem. Early in the pandemic, when eateries were forced to shut their doors, delivery became a lifeline. Restaurant operators scrambled to set up delivery channels from scratch or promote ones that previously existed. But there was a reason that many restaurants hadn’t focused on delivery before
Continue ReadingBy Charles Riley, CNN Business Barclays is withholding shares worth as much as $29 million from former CEO Jes Staley, pending the outcome of an investigation by British banking regulators into his relationship with Jeffrey Epstein. The bank said in its annual report published on Wednesday that it has suspended bonus and share payments to
Continue ReadingBy Matt Egan, CNN Business The decision by Germany to halt the certification of Nord Stream 2 underscores the critical role US natural gas can play on the world stage, former top energy regulator Neil Chatterjee told CNN on Tuesday. “We are a gas superpower. We just need to be able to get it out
Continue ReadingBy Danielle Wiener-Bronner, CNN Business If you walk into one of 25 Fred Meyer stores in the Portland area this week, you’ll find something unusual. Gathered together at the end of an aisle will be an eclectic assortment of about 20 products, including shampoo and dish soap, barbecue sauce, granola and more. The items are
Continue ReadingBy Laura He, CNN Business Global markets are rebounding and oil prices are easing after the United States and its allies hit Russia with only a limited first wave of sanctions over what President Joe Biden described as the beginning of an “invasion” of Ukraine. European stocks surged in early trading after the West kept
Continue ReadingBy Rachel Metz, CNN Business The Internal Revenue Service will continue using controversial facial recognition software for the rest of the current tax-filing season to verify taxpayers’ identities before they can log on to its website. But after facing a backlash, the agency is now offering an alternative, too. The IRS announced Monday that people
Continue ReadingCNN By Laura He and Rob McLean, CNN Business Global stock markets tumbled and crude oil prices surged to $99 per barrel on Tuesday after Russia ordered troops into parts of eastern Ukraine. Wall Street also fell as traders returned from the holiday weekend, but stocks finished off their lows of the day. The Dow
Continue ReadingBy Jennifer Korn and Vanessa Yurkevich, CNN The fire on board the large car-carrying cargo ship Felicity Ace could soon be extinguished because there might not be anything left to burn. The 656 foot-long Felicity Ace roll-on/roll-off car-carrying ship caught fire in the North Atlantic last Wednesday as it carried around 4,000 vehicles, including Porsches,
Continue ReadingCNN, CNNBUSINESS By Clare Duffy, CNN Business Slack went down for many users Tuesday morning, throwing off companies that rely on the popular workplace communication platform just as workers returned from the extended holiday weekend. “We’re investigating the issue where Slack is not loading for some users,” the company said on its status page around
Continue ReadingBy Matt McFarland, CNN Business Bob Galyen has spent his career building electric car batteries. And he thinks the United States has a problem. Galyen, who engineered the battery for the General Motors EV1, the first mass-produced electric vehicle, and also served as chief technology officer at a Chinese company that’s the top battery producer
Continue ReadingCNN, CNNBUSINESS By Charles Riley and Julia Horowitz, CNN Business The West showed Tuesday it was ready to target Russia’s huge energy industry — even at the risk of hurting itself — after Moscow ordered troops into parts of eastern Ukraine. Germany said it was halting certification of the Nord Stream 2 gas pipeline following
Continue ReadingBy Anneken Tappe, CNN Business American consumer confidence slipped again in February, a new report from the Conference Board said Tuesday. The index tracking how Americans are feeling fell to 110.5 this month, a steeper decline than economists had expected and the lowest level since September. The January number was revised down as well. Inflation
Continue ReadingBy Clare Duffy, CNN Business Slack went down for many users Tuesday morning, throwing off companies that rely on the popular workplace communication platform just as workers returned from the extended holiday weekend. “We’re investigating the issue where Slack is not loading for some users,” the company said on its status page around 9:30 am
Continue ReadingBy Nathaniel Meyersohn, CNN Business Activist investors are circling Macy’s and Kohl’s. The department store chains are fighting back. Macy’s on Tuesday rejected calls from activist investor Jana Partners to spin off its e-commerce operations after completing a board review of the company’s entire strategy. Jana Partners in October said that Macy’s could double its
Continue ReadingBy Matt Egan, CNN Business As oil rapidly approaches $100 a barrel, JPMorgan warned Tuesday that a spike in energy prices and other ripple effects from the Russia-Ukraine crisis could hurt both the stock market and the economic recovery. “An energy price shock amidst an aggressive central bank pivot focused on inflation could further dampen
Continue ReadingBy Paul R. La Monica, CNN Business Home Depot was the Dow’s best-performing stock in 2021, soaring more than 55% thanks to strong demand from consumers in what was a red hot housing market. But shares are off to a bumpy start this year. Shares of Home Depot have fallen 24% because of fears about
Continue ReadingBy Eoin McSweeney, CNN When the world’s biggest cryptocurrency exchange decided in December to set up an advisory body in Dubai, local bitcoin enthusiasts celebrated. Binance’s presence would be the jewel in the city’s crypto crown as it tried to position itself as a hub for the digital asset. The crypto exchange’s CEO Changpeng “CZ”
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