Category Archives: CNN – Business

Chinese shoppers aren’t splashing out again just yet

China’s economy is growing again after its worst three-month period in decades. That’s a good sign for everyone else — though investors aren’t celebrating. What’s happening: The world’s second-largest economy grew 3.2% in the April-to-June period compared with a year ago, according to government statistics released Thursday. That’s better than the 2.5% growth that Wall…MORE

Why JCPenney isn’t going out of business — yet

Why JCPenney isn’t going out of business — yet

JCPenney has survived world wars, the Great Depression, the Great Recession and the rise of both big box and online rivals. But surviving the Covid-19 pandemic is very much in doubt. Still, JCPenney probably isn’t going belly up just yet. Ironically, the fact that these are the worst business conditions the company has ever faced…MORE

China’s economy is growing again. That’s good news for the rest of the world

China’s economy is growing again. That’s good news for the rest of the world

China’s economy is growing again after its worst three-month period in decades — a sign that could bode well for the global post-coronavirus recovery. The world’s second-largest economy grew 3.2% in the April-to-June period compared a year ago, according to government statistics released on Thursday. That’s better than the 2.5% growth that analysts polled by…MORE

American Airlines to warn 25,000 workers of potential furloughs

American Airlines to warn 25,000 workers of potential furloughs

In a memo to employees on Wednesday, American Airlines’ top two executives said the company will issue notices to 25,000 employees that they face potential furloughs on October 1. The memo, from CEO Doug Parker and President Robert Isom, said that the airline hopes to avoid some of those furloughs, which include around 10,000 flight…MORE

How New Zealand became an apocalypse escape destination for Americans

How New Zealand became an apocalypse escape destination for Americans

In Queenstown — a picturesque ski spot that often attracts comparisons to Aspen, Colorado — rumors about foreigners investing in apocalypse-proof bunkers have been swirling for years. They’re referenced by local real estate agents: One recent listing advertised a house as a “billionaire bunker” for someone on a budget, for example. And there’s even a…MORE

Outlet mall staple is closing all of its stores

Outlet mall staple is closing all of its stores

Heritage Brands, an anchor of outlet malls across the United States, announced that it will close all 162 of its stores beginning next year. PVH Corp., which owns Calvin Klein and Tommy Hilfiger, blamed the closures on the “evolving North American retail landscape, which has been accelerated by the Covid-19 pandemic” in a company statement…MORE

BBC and Guardian blame the pandemic for 250 job cuts

BBC and Guardian blame the pandemic for 250 job cuts

Two British media outlets announced major job cuts on Wednesday, citing the financial pressures of the coronavirus pandemic. The Guardian said it was cutting 180 jobs, including 70 in its editorial department after the media group’s revenues fell by £25 million ($31.6 million) for the year. The pandemic has boosted audiences and reader donations, but…MORE

This is what Ben Bernanke says needs to be done to save US economy

This is what Ben Bernanke says needs to be done to save US economy

Ben Bernanke says the most important thing Congress can do to fix the US economy is to provide help to state and local governments . In a column in the New York Times, Bernanke said the lack of sufficient support for state and local governments was the biggest mistake made during the Great Recession, and…MORE

Apple enters the crowded market of daily news podcasts

Apple enters the crowded market of daily news podcasts

Apple is betting on customers who want to listen to — not just read — news on their devices. Apple announced Wednesday it will start producing its own daily news briefing called Apple News Today. For the roles of co-hosts, Apple has enlisted the help of two journalists with audio reporting bonafides: former WNYC hosts…MORE