Saks Fifth Avenue says it will stop selling animal fur products by the end of the 2022 fiscal year both online and in stores. The luxury department store chain said in a statement that under the new policy, it will “no longer offer products from animals raised for the use of their fur, including but…… MORE
Category Archives: CNN – Business
BBC deluged with complaints over wall-to-wall Prince Philip coverage
Global interest in the British royal family has boomed recently, mostly due to Harry and Meghan’s bombshell interview with Oprah Winfrey last month and the hit TV series “The Crown.” But after Prince Philip’s death on Friday, media saturation appears to have reached tipping point, in Britain at least. The British Broadcasting Corporation (BBC) opened…… MORE
Jeff Bezos endorsed higher corporate tax rates. But it won’t cost him much
A year ago, Joe Biden, then the presumptive Democratic nominee for president, was picking a fight with Amazon over how little it paid Uncle Sam. Now Biden is president, and Amazon CEO Jeff Bezos is on a lonely island supporting the White House’s plan — to raise corporate taxes. Hardly any other company leaders have…… MORE
ADL calls on Fox News to fire Tucker Carlson over racist comments about ‘replacement’ theory
The Anti-Defamation League, a well-respected Jewish advocacy group, is calling for Fox News to fire Tucker Carlson. “Given his long record of race-baiting, we believe it is time for Carlson to go,” ADL CEO Jonathan Greenblatt says. There is zero indication that Fox will take such a step — or even reprimand Carlson. But the…… MORE
Ford plans to run plants through traditional summer shutdown to recover from chip shortage
Ford will keep several of its plants running through the summer in hopes of offsetting production delays caused by the global computer chip shortage. The move follows an announcement from the automaker about a new round of temporary factory closures starting next week. Most major automakers, including Ford, typically shut down production for several weeks…… MORE
BJ’s Wholesale Club CEO dies unexpectedly at 49
Lee Delaney, CEO of BJ’s Wholesale Club, died unexpectedly on Thursday. He was 49. The warehouse chain shared the news in a release on Friday, noting that Delaney passed of “presumed natural causes.” “We are shocked and profoundly saddened by the passing of Lee Delaney,” said Christopher J. Baldwin, executive chairman of BJ’s board of…… MORE
So long, leggings. Jeans are having a resurgence, Levi’s CEO says
With many people still working from home, every day is casual Friday. That’s great news for jeans maker Levi Strauss. The iconic denim company reported earnings and sales after the closing bell Thursday that topped Wall Street’s forecasts. Shares of Levi Strauss, which went public in 2019, rose more than 3% Friday to hit a…… MORE
All that stimulus is sending inflation higher
Worries about sudden inflation spikes are keeping investors and economists up at night. Their concerns aren’t baseless: Inflation is indeed rising in the United States, government data for producer prices showed Friday. The question on everyone’s mind remains: Is inflation a temporary sugar rush from stimulus or is it here to stay? The US Producer…… MORE
Lil Nas X Satan shoe buyers can get a full refund after Nike lawsuit
The company that sold customized Nike Air Max 97s — featuring satanic symbols and a red liquid in the sole that supposedly contains human blood — will buy back customers’ shoes for a full refund. Nike settled a lawsuit with MSCHF, the Brooklyn-based art and design studio behind the Lil Nas X branded “Satan” shoe…… MORE
Supply chain problems hit cars and … ketchup packets
The price of General Motors cars is going up, and ketchup packets have become impossible to find. What’s happening: At first glance, these two trends may not have much in common. But they share a root cause: Thanks to the pandemic, global supply chains have broken down, triggering shortages of in-demand products and crucial manufacturing…… MORE
