Category Archives: CNN – Business

China wants to be less reliant on the United States. That’s a tall order

China wants to be less reliant on the United States. That’s a tall order

China wants to counter the United States by boosting its technological capabilities and becoming more self sufficient. That’s easier said than done. Beijing outlined its goal for more economic independence this week as the Chinese Communist Party’s Central Committee put together its latest Five-Year Plan. The 14th iteration of the vast policy framework will cover…MORE

Starbucks expects sales to return to growth next year

Starbucks expects sales to return to growth next year

Starbucks expects its sales to grow next year, the company said Thursday. In the United States and the Americas, it expects same-store sales to jump between 17% and 22% next year. Internationally, the company is expecting a 25% to 30% spike. The numbers would be a sharp turnaround. Globally, sales at Starbucks stores open for…MORE

Amazon had a blowout quarter as people flocked to online shopping

Amazon had a blowout quarter as people flocked to online shopping

Amazon’s sales and profit soared in the latest quarter as shoppers turned to the online giant to deliver goods to their homes in the pandemic. Amazon said Thursday that during the three months ending September 30 its sales grew 37% compared to the same period last year, to $96.1 billion, and profit increased 197% to…MORE

Netflix is raising prices for its standard and premium plans

Netflix is raising prices for its standard and premium plans

Netflix’s prices are going up. The streaming media company is raising the prices on its standard and premium plans for US customers. Its standard plan is now $14 a month, up $1 a month from last year. Its premium subscription will go up $2 to $18 a month. Its basic plan remains unchanged at $9…MORE

Beyoncé’s latest Ivy Park x Adidas gear finally drops online

Beyoncé’s latest Ivy Park x Adidas gear finally drops online

Beyoncé’s second Ivy Park x Adidas apparel collection is dropping online Thursday, a day ahead of its release in stores. The athleisure line, dubbed “The Drip 2 Collection,” comes nine months after the first installment of Beyoncé’s Ivy Park x Adidas gear, which sold out almost instantly when it dropped at the start of the…MORE

Warren Buffett hasn’t publicly backed Biden despite past Democratic endorsements

Warren Buffett hasn’t publicly backed Biden despite past Democratic endorsements

Warren Buffett has been surprisingly quiet about the presidential election. The Oracle of Omaha hasn’t publicly backed Joe Biden, but Buffett hosted a fundraiser for Biden’s former boss, Barack Obama, in 2011, and he fully backed Hillary Clinton in her 2016 campaign against Donald Trump. The 90-year-old investing legend, who is worth about $75 billion…MORE

America just posted a record GDP growth rate. Now brace for the slowdown

America just posted a record GDP growth rate. Now brace for the slowdown

The pandemic crashed the American economy into a $2 trillion hole. A sizzling summer rebound got the economy about two-thirds of the way back. Now comes the hard part. There’s much to celebrate about Thursday’s GDP report, which showed the US economy grew at a record annualized rate of 33.1% during the third quarter. It’s…MORE