Category Archives: CNN – Business

From Exxon to Charles Schwab, white-collar job cuts are mounting

From Exxon to Charles Schwab, white-collar job cuts are mounting

The pandemic has wiped out millions of mostly low-income jobs in hotels, restaurants, retail and other hard-hit corners of the economy. Now, the pink slips are spreading to higher-paid office workers. In the last few days, ExxonMobil, Chevron, Charles Schwab and Raytheon have announced plans to cut thousands of white-collar jobs. That’s on top of…MORE

Fed eases terms of Main Street lending program to help more small businesses

Fed eases terms of Main Street lending program to help more small businesses

The Federal Reserve is changing the rules of its Main Street Lending Program to help smaller businesses that have been struggling to get by while waiting for additional stimulus from Congress. The Fed on Friday announced it would issue loans as low as $100,000 and reduce the fees for the loans. Previously the minimum amount…MORE

Trick or treat? Here are the stocks that have soured in 2020

Trick or treat? Here are the stocks that have soured in 2020

The stock market has been kind of spooky lately. On Friday, the Dow was on course for its worst month since pandemic lockdowns sparked a massive sell off in March. So CNN Business decided to take a look at which stocks are looking like sweet treats, and which appear decidedly tricky. It should come as…MORE

Gun stocks fall after Walmart removes firearms and ammo from some stores

Gun stocks fall after Walmart removes firearms and ammo from some stores

Stocks of publicly traded gun companies fell sharply Friday following Walmart’s decision to remove firearms and ammunition from shelves in some US stores. Shares of American Outdoor Brands, formerly known as Smith & Wesson, fell nearly 4%, while Sturm, Ruger & Co. stock dipped 1% in midday trading. Ammunition maker Vista Outdoor fell 10% and…MORE

Europe could be facing a double-dip recession

Europe could be facing a double-dip recession

Recession is stalking Europe. Following record GDP growth in the third quarter, the region risks being tipped straight back into recession as sweeping restrictions aimed at curbing a second wave of coronavirus bring a rapid end to its fragile recovery. EU gross domestic product surged 12.1% between July and September, statistics agency Eurostat said in…MORE

Stocks just wrapped up their worst week since March

Stocks just wrapped up their worst week since March

It has been a messy week for the stock market. With only four days to go until Election Day, rising Covid-19 infections and uncertainty about further government stimulus to help the economy, there’s plenty for investors to worry about. Stocks had their worst week since March, when the market tumbled under the first wave of…MORE

$284 million has already been wagered by British bettors on the US election outcome

$284 million has already been wagered by British bettors on the US election outcome

Americans aren’t the only ones obsessed with next Tuesday’s vote. British bettors are wagering a record amount of money on the US presidential election, dwarfing the amount wagered on any sporting event or even their own nation’s politics. As of Wednesday morning, £220 million, or about $284 million, had already been wagered on the Betfair…MORE

McDonald’s is finally bringing back the McRib

McDonald’s is finally bringing back the McRib

McDonald’s McRib is coming back. And this time, it’s going nationwide. For the first time in nearly a decade, the fast food chain is making the fan-favorite sandwich available at all of its 14,400 US restaurants when it hits menus on December 2. In previous years, the McRib was sold at only some locations, which…MORE

Big Tech is strengthening its hold on the US economy

Big Tech is strengthening its hold on the US economy

America’s tech companies are strengthening their hold on the economy during the coronavirus crisis — though for investors, some results look better than others. What’s happening: Apple, Amazon, Facebook and Alphabet all reported impressive results on Thursday for the July to September period. Their ability to generate tens of billions of dollars in revenue during…MORE

‘The Mandalorian,’ Disney’s biggest blockbuster of 2020, returns with a new mission

‘The Mandalorian,’ Disney’s biggest blockbuster of 2020, returns with a new mission

“The Mandalorian” premiered almost a year ago, serving as the biggest enticement to subscribe to Disney’s startup streaming service. The launch exceeded any reasonable expectations, but with Disney facing a much-altered media galaxy, there’s even more pressure on the live-action “Star Wars” series to deliver a big bounty to the studio. That’s because the coronavirus…MORE