Business News

Boozy ice cream and pizza crusts: How spiked seltzer is evolving beyond beverages

Spiked seltzers and canned cocktails are wildly popular, and now they’re evolving. White Claw, Truly and Cutwater Spirits, three notable brands are testing their flavors in snack form, rolling out new boozy pops, ice creams, and, even a pizza crust. And for good reason: Nielsen said in a report last week that the beverages are…

The UK is reopening for business. London may never be the same

London has seen more than its share of crises. The 2000-year old metropolis has endured an influenza pandemic, the Blitz and several financial meltdowns over just the past century. Time and again, London has come roaring back, relying on a spirit of resilience and reinvention that is being summoned once more as the British capital…

Air France to cut more than 7,500 jobs

Air France to cut more than 7,500 jobs

Air France plans to shed 7,580 jobs, or 17.5% of its current workforce, over the next few years, the company said on Friday. The airline expects more than 3,500 “natural departures” — through attrition — that will help compensate for the job cuts. Air France will cut 6,560 jobs by the end of 2022. Its…

America is running out of fireworks

America is running out of fireworks

The fireworks business is booming — so much so that America may soon run out. As the coronavirus pandemic continues, consumer fireworks sales, including sparklers and firecrackers, have more than doubled. But imports from China, which supplies more than 90% of the world’s fireworks, stalled earlier this year, and industry leaders expect a supply shortage…

Tesla stock topped $1,200. Here’s how it could hit $2,000

Tesla stock topped $1,200. Here’s how it could hit $2,000

Tesla’s stock soared 26% during the holiday-shortened week, topping $1,000, $1,100 and $1,200 in the process. Tesla is now worth more than most blue chip firms in the S&P 500. But one Wall Street analyst is making the case that the stock still could surge another 66% over the next 12 months to hit $2,000.…

Mary Trump surfaces in written testimony as fight over publication of her book rages on

Mary Trump surfaces in written testimony as fight over publication of her book rages on

Mary Trump’s attorneys are pressing a judge to fully clear her path to publish a bombshell book about dealings with her family, including her uncle President Donald Trump, claiming the confidential settlement she signed decades ago was based on fraudulent financial information. In court filings Thursday night, Mary Trump and her attorneys said blocking the…

Hugh Downs, anchor of ’20/20′ and ‘Today,’ dead at 99

Hugh Downs, anchor of ’20/20′ and ‘Today,’ dead at 99

Hugh Downs, the versatile and Emmy-winning broadcaster whose decades-long TV career ranged from anchoring ABC News’ “20/20” to the “Today” show to serving as Jack Paar’s sidekick on “The Tonight Show,” has died at his home in Scottsdale, Arizona. He was 99. Local outlet AZFamily was first to report the news of Downs’ passing, citing…

Home Depot changes rope sales practice after nooses are found in store

Home Depot changes rope sales practice after nooses are found in store

Home Depot has changed the way it sells rope after a customer reported finding nooses hanging in a North Carolina store — the latest in a series of similar incidents at its stores in recent years. In early June, as the nation faced widespread protests over the killing of George Floyd, a Charlotte resident said…

Another leader at Refinery29 steps down after allegations of toxic work environment

Another leader at Refinery29 steps down after allegations of toxic work environment

Amy Emmerich, global president and chief content officer of Refinery29, announced Thursday that she is stepping down from her position immediately. Emmerich announced the news in an email to staff that was obtained by CNN Business. Her resignation comes amid an internal investigation into allegations of toxic workplace behavior at Refinery29. Vice Media, which acquired…

Taco Bell is releasing a grilled cheese burrito

Taco Bell is releasing a grilled cheese burrito

Cheese lovers: Get ready. Taco Bell on Thursday unveiled its new grilled cheese burrito, which has both cheese on the inside and outside. The company said in a news release that it’s the “cheesiest new menu item of the year so far.” The fast-food chain said it took inspiration from the classic grilled cheese sandwich…

Unemployment rate won’t recover for the next decade, CBO projects

Unemployment rate won’t recover for the next decade, CBO projects

America’s recovery from the pandemic recession could last through the better part of the next decade, according to the Congressional Budget Office‘s 10-year forecast published Thursday. The Covid-19 outbreak and subsequent lockdown has brought the economy to a stop, and even though states are slowly reopening, it will be a tough next decade as the…

Lemonade, the online insurer, surges in Wall Street debut

Lemonade, the online insurer, surges in Wall Street debut

Lemonade was just what investors wanted right before the long July 4th weekend. Shares of the online insurer, backed by SoftBank, surged in their market debut. Lemonade priced its initial public offering at $29 a share and wound up soaring nearly 140% to finish Thursday above $69. The company raised nearly $320 million from the…

It’s a scary time to be unemployed. These people still chose to get laid off

It’s a scary time to be unemployed. These people still chose to get laid off

Wendell Stinnett had been planning to work for at least another four years, maybe even eight. Instead he agreed this summer to walk away from the job he’s had for 31 years. It’s a scary time to be unemployed. Even with a better-than-expected June jobs report Monday, the unemployment rate still stands at 11% and…

McDonald’s hits pause on reopening dining rooms as coronavirus cases rise

McDonald’s hits pause on reopening dining rooms as coronavirus cases rise

McDonald’s is hitting pause on its plan to reopen its dining rooms for three weeks as states across the country block restaurants from reopening because of rising cases of Covid-19. “Keeping with our thoughtful approach to reopening, effective today, we are pausing all dine-in reopening plans for 21 days,” Joe Erlinger, president of McDonald’s USA,…

Walmart is transforming 160 of its parking lots into drive-in theaters

Walmart is transforming 160 of its parking lots into drive-in theaters

Two of the most classic pieces of Americana are coming together this summer: drive-in theaters and Walmart. Beginning in August, the retailer is converting 160 of its US store parking lots into drive-in movie theaters. As the pandemic continues, drive-in theaters have been making a comeback as a safe alternative to the traditional movie theaters…

Stocks rise after jobs report

Stocks rise after jobs report

Wall Street is cheering the better-than-expected June jobs report Thursday, but investor enthusiasm waned as the day wore on. The Dow was up 0.9%, or about 240 points, in mid-afternoon trading. That was well off its earlier highs of the day after the government reported that the US economy added 4.8 million jobs in June,…