Category Archives: CNN – Business

Two of the most powerful economic voices in America disagree on a tax for the uber-rich

Two of the most powerful economic voices in America disagree on a tax for the uber-rich

Democratic Senator Elizabeth Warren faces an uphill battle persuading Washington to back her tax on ultra-millionaires — starting with convincing her own party’s Treasury Secretary. Janet Yellen, whom Warren praised last year as an “outstanding choice” to lead the Treasury Department, fears a wealth tax would be too messy to implement. “Then Janet and I…MORE

The maker of a $2,995 home gym is opening up shops in Nordstom stores

The maker of a $2,995 home gym is opening up shops in Nordstom stores

Nordstrom and at-home fitness startup Tonal, which sells a $2,995 smart home gym, have teamed up to launch a handful of Tonal mini shops inside Nordstrom stores. Tonal-branded mini shops will debut in March in 40 Nordstrom locations across 20 states, Nordstrom said on Monday. The 50-square-foot shops will be located in the women’s active…MORE

United, predicting a rebound in travel, buys 25 Boeing 737 Max jets

United, predicting a rebound in travel, buys 25 Boeing 737 Max jets

United Airlines disclosed Monday one of its largest orders for the Boeing 737 Max jet since the aircraft was grounded in March 2019, agreeing to buy an additional 25 planes. The airline also accelerated the delivery timetable for 45 other 737 Max jets it had previously ordered. United said the decision was based on its…MORE

Wall Street’s new bogeyman: the bond market

Wall Street’s new bogeyman: the bond market

Covid-19 no longer seems to be the biggest concern on Wall Street as more people are getting vaccinated. Now, the focus is squarely on the bond market and inflation. Investors are starting to worry that the economy may heat up too much, and that inflation will make an unwelcome return. That has led to some…MORE

Exxon aims to quell shareholder revolt by adding activists to board

Exxon aims to quell shareholder revolt by adding activists to board

ExxonMobil is adding two prominent activist investors to its board of directors, in a bid to halt the first credible threat to overthrow its board in modern history. The decision to add Jeff Ubben, co-founder of Inclusive Capital Partners, and former Comcast finance chief Michael Angelakis comes as Exxon faces extreme dissent from shareholders about…MORE

McDonald’s CEO responds after report alleges sexual harassment among workers

McDonald’s CEO responds after report alleges sexual harassment among workers

Sexual harassment against McDonald’s restaurant employees “will not be tolerated,” McDonald’s CEO Chris Kempczinski said in a statement responding to a CBS News report detailing some female employees’ disturbing allegations. “Let me say plainly: every single person working under the Arches must have a safe and respectful work environment,” Kempczinski wrote Sunday. “Sexual harassment in…MORE

S&P 500 notches best day since June

S&P 500 notches best day since June

The Dow rallied a little more than 600 points Monday, as US Treasury yields pulled back and took a breather from their recent ascent. All three major stock indexes opened sharply higher and continued their rally as the trading session went on. The Dow ended the day up 2% — its best day since November.…MORE

Budweiser Select is making a comeback as light beer sales surge

Budweiser Select is making a comeback as light beer sales surge

With Americans drinking more light beer than ever, Anheuser-Busch is giving them another option with the nationwide release of Budweiser Select. The 99-calorie beer, previously available only in St. Louis, is now rolling out nationwide, in “response to growing consumer demand for a lower calorie beer option,” the company announced Monday. Budweiser Select was available…MORE