Category Archives: CNN – Business

Whole Foods sent some customers a disconcerting email about their turkey

Whole Foods sent some customers a disconcerting email about their turkey

Bring on the frantic “where can I get a turkey TODAY?!” searches. An undetermined number of Thanksgiving chefs who purchased their bird from Whole Foods woke up this morning to a concerning email. A “small number” of fresh market turkeys that were purchased from Whole Foods “did not meet our high expectations for quality,” the…MORE

Disney increases number of planned layoffs to 32,000 employees

Disney increases number of planned layoffs to 32,000 employees

Walt Disney Co. is planning to shed 32,000 employees by the end of March — 4,000 more than previously announced — as the coronavirus pandemic continues to hammer its parks and resorts business. The additional layoffs were disclosed in a filing to the US Securities and Exchange Commission on Wednesday. Disney employs around 223,000 people,…MORE

Australia’s Bega Cheese buys Lion Dairy from Kirin

Australia’s Bega Cheese buys Lion Dairy from Kirin

Japanese beverage giant Kirin has finally offloaded its Australian dairy business, months after it was forced to scrap a bigger deal because of geopolitical tensions with China. Kirin is selling Lion Dairy to Australian company Bega Cheese for 560 million Australian dollars ($412 million), the companies said on Thursday. Under the agreement, Bega is acquiring…MORE

Fox News staffers thought Newsmax was a joke. But they’re not laughing anymore

Fox News staffers thought Newsmax was a joke. But they’re not laughing anymore

Fox News is taking action to stave off newfound competition from Newsmax TV. Producers on some Fox programs have been told to monitor Newsmax’s guest bookings and throw some sand in Newsmax’s gears by encouraging guests who appear on both channels to stop saying yes to the upstart. According to Fox sources, producers were told…MORE

How Cholula plans to get more Americans hooked on its hot sauce

How Cholula plans to get more Americans hooked on its hot sauce

For the $800 million it’s spending to buy it, Cholula’s new owner needs it to punch above its weight. Right now the hot sauce, which is being acquired by spice maker McCormick, can only be found in about 4% of US households. But it appeals to a coveted demographic — the college-educated Millennial who has…MORE

Britain’s final Brexit choice could prolong the worst recession in 300 years

Britain’s final Brexit choice could prolong the worst recession in 300 years

The UK economy is suffering its worst recession in more than 300 years and failing to secure a new trade deal with the European Union will make its recovery even longer and more arduous, according to the country’s independent fiscal watchdog. The Office for Budget Responsibility said on Wednesday that a no-deal Brexit would reduce…MORE

Simon & Schuster sold to Penguin Random House

Simon & Schuster sold to Penguin Random House

Two of the biggest publishing houses in the US will soon be under one roof. ViacomCBS announced Wednesday it will sell Simon & Schuster to Penguin Random House, which is a subsidiary of German media giant Bertelsmann, for $2.175 billion in cash. The deal is expected to close next year and subject to regulatory approval.…MORE

Another 778,000 Americans filed first-time unemployment claims last week

Another 778,000 Americans filed first-time unemployment claims last week

The recovery in the American job market is still painfully slow. Another 778,000 people filed for first-time unemployment benefits last week on a seasonally adjusted basis. That was more than the 735,000 initial jobless claims that economists were expecting, and it’s also higher than last week’s revised number of 748,000. It’s the second straight week…MORE

Dow 30,000: How the market rally defied a pandemic

Dow 30,000: How the market rally defied a pandemic

Markets have reached a new milestone in the middle of a bruising pandemic, another sign that investors have been more than willing to look past short-term pain toward better days ahead. What’s happening: The Dow topped 30,000 points on Tuesday for the first time ever, a symbolic win for the market bulls that have bet…MORE