New York CNN Business — Wayfair lost more than a million customers during its latest quarter as shoppers turn away from new furniture and home decorations. The e-commerce retailer said its active customer count dropped 22.6% during the quarter ending September 30 compared to the same time last year. The company’s sales also declined 9% […]
London CNN Business — The spike in shipping rates since the onset of the pandemic has been a huge boon for Maersk. But the Danish shipping giant is warning its business will have to endure tougher times soon. The company said Wednesday that a looming global recession is expected to reduce container demand by between […]
New Delhi CNN Business — It has been almost three years since Covid-19 first hit China, but the country’s relentless adherence to lockdowns continues to hobble business and the economy. Top global and Chinese companies, from carmakers to tech giants, have experienced huge disruptions to their business in recent days as the world’s second-largest economy […]
New York CNN Business — They came from very different backgrounds and different parts of the country, each with different reasons for seeking a job at Starbucks. Few of these workers had given any thought to unions when they started their jobs at the coffee chain. But now they are at the center of one […]
Editor’s Note: A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. Sign up here. Hong Kong CNN — It’s been little more than a week since Chinese leader Xi Jinping began his norm-breaking […]
London CNN Business — BP’s profit more than doubled in the third quarter of the year, extending a bumper run of earnings for the world’s biggest oil and gas companies that will add to growing calls in Britain and the United States for higher taxes on windfall profits. The UK-based energy company posted underlying profit […]
CNN Business — Delta Air Lines pilots intensified their push for improved pay by insisting they will strike if they do not get a new contract. With 96% of members participating in an Air Line Pilots Association union vote, 99% of Delta pilots “authorized union leaders to call a strike, if necessary, to achieve a […]
New York CNN Business — McDonald’s said this week that it sold half of its new Happy Meals geared toward adults –Cactus Plant Flea Market Boxes– in just four days. But four decades ago, when the first Happy Meal debuted, the company didn’t quite get it. “They were reluctant a little bit. They didn’t immediately […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — When will central banks stop raising interest rates? That’s the multi-trillion dollar question […]
CNN Business — Even by Facebook’s standards, 2021 was a rough year. A series of damning reports based on leaks from a whistleblower raised uncomfortable questions about Facebook’s impact on society; the company continued reeling from concerns about the use of its platform to organize the January 6 Capitol riot; and privacy changes from Apple […]