Category Archives: CNN – Business

Hunger in America could get worse as supply chains tighten

Hunger in America could get worse as supply chains tighten

Just after Thanksgiving, Carmen Allen became alarmed by the jump in prices and shortages of food products at her local grocery stores. “Cake mix,” Allen says. “I was worried I wouldn’t find enough of it to give out in our food baskets.” Allen serves as president and executive director of Beyond the Sanctuary, a nonprofit…MORE

Strike ends at 78 Kroger-owned grocery stores in Denver
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Strike ends at 78 Kroger-owned grocery stores in Denver

Nearly 8,000 workers at 78 King Soopers and City Market grocery stores in Colorado will return to work starting Friday, after union leaders and management reached a tentative three-year work agreement. The strike, which began January 12, was the nation’s second-largest in the last two years — behind only a five-week work stoppage by 10,000…MORE

Peloton may be toast
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Peloton may be toast

Peloton had a disastrous 2021. But as impossible as it may seem, the exercise equipment company is arguably off to an even worse start to 2022. Shares of Peloton are down nearly 25% this year and trading at their lowest level in nearly two years. The stock was up 12% Friday though after the company…MORE

Total and Chevron are pulling out of Myanmar
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Total and Chevron are pulling out of Myanmar

TotalEnergies and Chevron are withdrawing from Myanmar because of a deteriorating situation in the country since the military seized power nearly a year ago. “The situation, in terms of human rights and more generally the rule of law, which have kept worsening in Myanmar since the coup of February 2021, has led us to reassess…MORE

Jamie Dimon gets a $3 million raise
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Jamie Dimon gets a $3 million raise

Jamie Dimon got a $3 million raise in 2021, JPMorgan Chase disclosed in a filing late Thursday. The raise boosts the pay for the CEO of the nation’s largest bank by 9.5%, to $34.5 million. The pay package includes a base salary of $1.5 million and a $5 million cash bonus — both unchanged from…MORE

The pandemic boom is over. Just ask Peloton and Netflix
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The pandemic boom is over. Just ask Peloton and Netflix

When the coronavirus pandemic swept across the world in 2020, investors responded by pouring money into companies that would benefit from people spending much more time at home. Netflix and Peloton were two of the biggest pandemic winners, along with video call provider Zoom Video and electronic signature firm DocuSign. Now, the pandemic boom is…MORE

As Big Tech stocks get slaughtered, Intel rises from the ashes
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As Big Tech stocks get slaughtered, Intel rises from the ashes

Intel was once the undisputed king of the semiconductor industry until the chip giant lost momentum to rivals Nvidia and Advanced Micro Devices in recent years. Now, with a new CEO, Intel is regaining some of its swagger. Intel, whose stock fell more than 15% in 2020 and barely budged last year, appears poised for…MORE

Serbia pulls plug on Rio Tinto’s $2.4 billion lithium project

Serbia pulls plug on Rio Tinto’s $2.4 billion lithium project

Shares in Rio Tinto tumbled on Friday after Serbia revoked its lithium exploration licenses over environmental concerns, hurting the Anglo-Australian miner’s ambition to become Europe’s largest supplier of the metal used in electric vehicles. The decision by Serbia comes as it approaches a general election in April, and as relations between Belgrade and Canberra have…MORE

Bitcoin tumbles as cryptocurrencies continue their downward slide
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Bitcoin tumbles as cryptocurrencies continue their downward slide

Cryptocurrencies have had a dismal start to the year, and continue to plunge as major economies around the world look to curb their growing popularity. Bitcoin has fallen over 7% in the last 24 hours, and was trading at $39,097 as of 3:00 am ET, according to CoinDesk. The world’s most valuable cryptocurrency has plummeted…MORE

Evergrande’s international creditors threaten legal action over ‘opaque’ restructuring process
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Evergrande’s international creditors threaten legal action over ‘opaque’ restructuring process

Evergrande’s international creditors are losing patience. A group of the company’s overseas bondholders are threatening to take legal action over its “opaque” debt restructuring process, the latest sign of trouble for the embattled Chinese developer. They said in a statement Thursday they’ve had to “seriously consider enforcement actions” after Evergrande failed to engage substantially with…MORE

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