Category Archives: CNN – Business

Australia passes new law requiring Facebook and Google to pay for news

Australia passes new law requiring Facebook and Google to pay for news

Australia has passed a new law that will force tech companies to pay publishers for news content, setting the stage for potential, similar action in other countries. The new code, which the Australian parliament approved Thursday, “will ensure that news media businesses are fairly remunerated for the content they generate,” Australian Treasurer Josh Frydenberg said…MORE

Two big reasons investors are worried about the housing market

Two big reasons investors are worried about the housing market

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Tonight: GameStop stock is all fired up — again. Plus, the US Postal Service’s new vans look like ducks, and somehow Michael Bolton gets a financial news headline in 2021 ……MORE

GameStop shares surge more than 100%

GameStop shares surge more than 100%

GameStop shares climbed rapidly and were halted twice for volatility ahead of the closing bell Wednesday. The gaming retailer’s stock was priced at $91.71 at market close, up nearly 104% from the previous day. Shares were halted once around 3:40pm ET after climbing nearly 74%, and again just over 10 minutes later after gaining 104%.…MORE

TJ Maxx hopes customers will ‘revenge shop’ to make up for a lost year

TJ Maxx hopes customers will ‘revenge shop’ to make up for a lost year

TJ Maxx has taken a hit from the pandemic with fewer people visiting stores and picking up clothing. But the discount giant is betting that customers will re-emerge once they get the Covid-19 vaccine and “revenge” shop to make up for the lost year. TJX, the owner of discount chains TJ Maxx and Marshalls, said…MORE

The Federal Reserve suffers widespread disruption to payment services

The Federal Reserve suffers widespread disruption to payment services

The Federal Reserve suffered a widespread disruption in multiple payment services Wednesday, including a system that banks and businesses rely on to zip trillions of dollars around the financial system each day. After experiencing problems for several hours, the crucial payment system, known as Fedwire, resumed normal operations shortly before 3 p.m. ET, according to…MORE

IPhone builder Foxconn is working on an electric car with Fisker

IPhone builder Foxconn is working on an electric car with Fisker

Foxconn, the Taiwan-based electronics manufacturing company best known for assembling the Apple iPhone, is working on an agreement with the California electric car company Fisker to develop an electric vehicle, the companies announced Wednesday. Fisker Inc. went public last year through a SPAC merger with Spartan Energy Acquisition. Founded by car designer Henrik Fisker, the…MORE

Big banks will need much less office space in the future

Big banks will need much less office space in the future

Two of Britain’s biggest banks have announced plans to dump expensive office space, a bet that remote work is here to stay even after the pandemic ends. HSBC said Tuesday that it plans to cut its global real estate footprint by 40% “over the next several years,” part of a broader plan to slash costs…MORE

Dunkin’ is now selling avocado toast

Dunkin’ is now selling avocado toast

Dunkin’ is certainly appeasing avocado-craving millennials with its new menu item. Beginning Wednesday, the chain has added avocado toast to its menu at all US locations. Dunkin’ said the $2.99 item features a “creamy, mouthwatering avocado spread” consisting of avocado, sea salt, black pepper and a hint of lemon juice. The spread is placed atop…MORE