Category Archives: CNN – Business

Switzerland votes against boosting business liability for rights abuses abroad

Switzerland votes against boosting business liability for rights abuses abroad

A vote on whether Swiss companies like NestlĂ© and Glencore should face greater liability at home for human rights and environmental abuses committed abroad is set to fail after a divisive campaign. While provisional results from the government Sunday showed that more than 50% of voters approved of the Responsible Business Initiative, it did not…MORE

The time Janet Yellen threw the book at Wells Fargo

The time Janet Yellen threw the book at Wells Fargo

The night before Janet Yellen stepped down as Federal Reserve chair in February 2018, she shocked Wall Street by delivering a crushing blow to America’s most messed-up bank. In its final official act, the Yellen-led Fed imposed unprecedented growth restrictions on Wells Fargo — tough penalties that the scandal-ridden bank has never recovered from. Yellen’s…MORE

What are companies responsible for? Swiss voters are about to weigh in

What are companies responsible for? Swiss voters are about to weigh in

Imagine the foreign subsidiary of a Swiss multinational corporation has been accused of human rights or environmental abuses abroad. Should the parent company be exposed to legal action in Switzerland? That’s the very important question that Swiss voters are deciding Sunday in a divisive referendum that could have far-reaching consequences for firms like NestlĂ© and…MORE

Black Friday looks very different this year. Here’s why analysts are optimistic

Black Friday looks very different this year. Here’s why analysts are optimistic

Black Friday shopping isn’t the same this year with the ongoing pandemic and recession. Traditional brick-and-mortar stores saw a 52% drop in Black Friday traffic compared to last year, according to a report from Sensormatic Solutions. Shopping traffic on Thanksgiving Day dropped by 95%, as many stores closed to give their employees time off and…MORE

Tony Hsieh, former Zappos CEO and ‘tremendous visionary,’ dies at 46

Tony Hsieh, former Zappos CEO and ‘tremendous visionary,’ dies at 46

Tony Hsieh, the former CEO of Zappos, died peacefully and surrounded by family on Friday, according to a statement emailed to CNN by Megan Fazio, a spokesperson for DTP Companies, a Las Vegas-based enterprise for which Hsieh served as the visionary. Hsieh, 46, died from injuries sustained in a house fire that occurred in Connecticut…MORE

Delta cancels more than 500 flights this week amid crew shortages

Delta cancels more than 500 flights this week amid crew shortages

A surge in Thanksgiving demand is taxing Delta Air Lines’ pandemic-era workforce. The carrier was forced to cancel hundreds of flights this week, according to its pilot union and the airline. Delta ultimately canceled nearly one in every five flights it was scheduled to operate on Thanksgiving Day, and has dropped in total more than…MORE

It started in her kitchen. Now her products sell at Target and Walmart

It started in her kitchen. Now her products sell at Target and Walmart

Beatrice Dixon had a good feeling about 2020 when the year began. The business she started, The Honey Pot Company, was charting a course of success that most young entrepreneurs only dream about. Dixon, 38, began work on her fledgling feminine care products startup in 2012. The brand was later sold at a handful of…MORE