Category Archives: CNN – Business

Walmart’s latest strategy to get your stuff to you faster

Walmart plans to build automated mini-warehouses in dozens of its stores to speed up customers’ online delivery and curbside pickup orders in a race against Amazon. Walmart announced Wednesday that it will add dozens of 20,000 square-foot to 30,000 square-foot automated fulfillment centers in the coming years, either in the backrooms of its stores or…MORE

Walgreens taps Starbucks executive Rosalind Brewer to be its CEO

Walgreens taps Starbucks executive Rosalind Brewer to be its CEO

Rosalind Brewer will be the next CEO of Walgreens — making her the only Black woman currently slated to take the helm of a Fortune 500 company. Brewer is set to begin on March 15, Walgreens said Tuesday. She currently serves as the chief operating officer at Starbucks, and will remain in the role until…MORE

Goldman Sachs slashes CEO pay by $10 million over massive scandal

Goldman Sachs slashes CEO pay by $10 million over massive scandal

Goldman Sachs cut chief executive David Solomon’s annual compensation by $10 million, or 36%, following a penalty deduction that resulted from the bank’s role in a corruption scandal involving a Malaysian investment fund, known as 1MDB. Solomon’s compensation package was reduced to $17.5 million for 2020, down from the $27.5 million he received in 2019,…MORE

Elon Musk tweet fuels frenzied GameStop surge

Elon Musk tweet fuels frenzied GameStop surge

Amateur investors continued a frenzied runup of GameStop for the fourth session in a row, with the stock ending Tuesday up more than 92%, or about $148 a share. After the market closed, Tesla CEO Elon Musk appeared to join the pile-on with a tweet that sent GameStop shares briefly above $200. His one-word comment…MORE

CBS suspends two top execs after LA Times report alleging racism and misogyny

CBS suspends two top execs after LA Times report alleging racism and misogyny

CBS has suspended two of its top TV executives following a Los Angeles Times investigation that alleged they cultivated a toxic work culture involving racist and misogynistic behavior. Peter Dunn, president of CBS television stations, and David Friend, senior vice president of news for television stations, “have been placed on administrative leave, pending the results…MORE

Pepsi bets on plant-based snacks with Beyond Meat

Pepsi bets on plant-based snacks with Beyond Meat

Beyond Meat and PepsiCo are combining forces to develop and distribute snacks and drinks made with plant-based protein as the plant-based trend gains even more traction. With Pepsi, Beyond Meat — which already makes plant-based alternatives to beef and pork — will have access to a global distribution and marketing powerhouse. That means Beyond Meat…MORE

Goya board silences its CEO after he tells Fox News the election was rigged

Goya board silences its CEO after he tells Fox News the election was rigged

Goya’s board of directors had enough of CEO Robert Unanue’s public comments in support of former President Donald Trump and his unfounded claims of voter fraud. On Friday, it voted to muzzle him. The board of the privately held Latino food company voted to censure Unanue, following his most recent controversial remarks that questioned the…MORE

Airbnb was ensnared in the Capitol Riot fallout. It somehow still came out on top

Airbnb was ensnared in the Capitol Riot fallout. It somehow still came out on top

Brian Chesky had some air mattresses, but not much more, in 2008 when the presidential election triggered an idea for his then-fledgling startup, Airbnb. To draw attention to their site, Chesky and his co-founders started selling politically themed cereals. There were Obama-os, “the breakfast of change,” and Captain McCains, “a maverick in every bite,” as…MORE

Martha Stewart launches line of CBD-infused dog treats

Martha Stewart launches line of CBD-infused dog treats

Martha Stewart wants to help pet owners turn dog days into dog daze. The lifestyle guru is bringing a new line of CBD dog treats to the market. Stewart’s CBD for Pet line includes soft-baked chews and oil drops in three different formulas, including wellness, calm and mobility, with flavors such as chicken and cranberry,…MORE

Pizza buffet chain Cici’s files for bankruptcy

Pizza buffet chain Cici’s files for bankruptcy

Cici’s, a restaurant chain best known for its pizza buffets, has filed for bankruptcy. In a court filing late Monday, Cici’s blamed its Chapter 11 filing on the “unpredictable and unprecedented scale” of the pandemic, which decimated its bottom line and customer demand because it relies heavily on its dining rooms. The Texas-based company has…MORE