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. Today in business news: Stocks are having a post-election rager, Janet Yellen testifies on Capitol Hill, and Bed Bath & Beyond drops MyPillow. Let’s get into it. THE BIDEN BUMP It’s…… MORE
At least six major news networks have assigned women to lead White House coverage of the Biden administration, raising the profile of female journalists in an institution long dominated by men. CNN named Kaitlan Collins its chief White House correspondent, replacing Jim Acosta, who will be the anchor and chief domestic correspondent for the network.…… MORE
Netflix — which was founded in 1997 as a rental company that sent you DVDs in the mail — crossed a major milestone on Tuesday, further solidifying itself as one of the most influential companies in Hollywood. The streaming service said it now has more than 200 million subscribers globally, after adding 8.5 million subscribers…… MORE
Bed Bath & Beyond has stopped selling MyPillow products following CEO Mike Lindell’s support of the January 6 insurrection and his continued false statements questioning the validity of the US presidential election. The retailer said in a statement Tuesday that it’s discontinuing the sales of a “number of underperforming items and brands,” which includes MyPillow.…… MORE
Stocks have gained about 13% since Election Day as of Tuesday, a day before Joe Biden’s inauguration — marking the the best post-election market performance for a new president in modern history, according to CFRA Research. The second-biggest surge was from late 1960 to early 1961, when John F. Kennedy defeated Richard Nixon, and the…… MORE
A growing number of large US chains are offering their workers incentives to get Covid-19 vaccines. Grocery chain Aldi said Tuesday that it will provide its hourly workers with two hours of pay for each vaccine dose they receive, giving workers up to four hours total of paid time off. Aldi also said it will…… MORE
Walmart CEO Doug McMillon lamented Tuesday that the baseless claims of a stolen election pushed by President Donald Trump and his allies have further inflamed America at a time of peril. “We all find ourselves in the midst of concurrent health, economic and racial equity crises as well as facing the reality of an electorate…… MORE
FedEx has announced plans to slash up to 6,300 jobs in Europe. The delivery company said in a statement on Tuesday that it would reduce its European workforce by between 5,500 and 6,300 as it completes the integration of TNT Express. FedEx said the cost of the severance benefits could total as much as $575…… MORE
Leaders from some of the nation’s top historically Black colleges and universities are meeting virtually with Google CEO Sundar Pichai next week to discuss the future of their schools’ relationships with the tech giant in the wake of racism and sexism allegations made by two Black former employees. In December, ex-Google artificial intelligence researcher Timnit…… MORE
MGM Resorts International is walking away from an attempt to buy the owner of British gambling brand Ladbrokes after its $11 billion bid was rejected. The US casino group said in a statement Tuesday that it would not make a firm offer for Ladbrokes owner Entain, following “careful consideration” and “limited recent engagement.” MGM made…… MORE
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