Category Archives: CNN – Business

SoftBank shares slide after massive WeWork bailout

SoftBank shares slide after massive WeWork bailout

Shares in SoftBank fell 2.5% on Wednesday after the Japanese conglomerate confirmed a massive deal to bail out WeWork, the embattled office space startup. The deal will give SoftBank up to 80% ownership of the beleagured startup. The Japanese company is pumping $5 billion into The We Company and accelerating a $1.5 billion equity investment…MORE

Chipotle’s supply of carne asada is running low

Chipotle’s supply of carne asada is running low

Chipotle is expecting to run out of its popular new meat dish, carne asada, late next month or in early December — but it’s not worried, the marinated steak has served its purpose. The company rolled out the dish, a limited time offering, in September in an effort to drive excitement around its brand, boost…MORE

How bad are things for Boeing? Investors are about to find out

How bad are things for Boeing? Investors are about to find out

A top Boeing executive left the company Tuesday, the first to do so in the wake of the 737 Max crisis. What the mounting crisis is costing the rest of the company will become clearer to investors on Wednesday when the company reports earnings. Out of a job is Kevin McAllister, who had been president…MORE

TD Ameritrade CEO: We’re ready for battle in the zero commission wars

TD Ameritrade CEO: We’re ready for battle in the zero commission wars

Online brokers are beginning to adjust to life without commissions. TD Ameritrade is the latest broker to report solid earnings and revenue, even though it is about to take a big hit from eliminating commissions. TD Ameritrade’s better-than-expected financials follow similarly strong numbers from rivals Charles Schwab and E-Trade, which also announced plans earlier this…MORE

Will the housing market continue to prop up the US economy?

Will the housing market continue to prop up the US economy?

Despite a recent drop in retail sales, softer business spending and a slowdown in job growth, the housing market keeps humming along. That’s good news for a US economy that may need housing to keep the current recovery alive. The National Association of Home Builders reported last week that builder sentiment in October reached its…MORE

Macy’s and Bloomingdale’s will stop selling fur in 2021

Macy’s and Bloomingdale’s will stop selling fur in 2021

Fur is on its way out at Macy’s Inc. The retail giant announced Tuesday that it would stop selling mink, fox, sable and other real fur products by February 2021 at its Macy’s and Bloomingdale’s stores, as well as its off-price outlets. It will also close its Macy’s Fur Vaults and Bloomingdale’s Maximilian Fur Salons…MORE

Hasbro plunges 17% after getting hit hard by tariffs

Hasbro plunges 17% after getting hit hard by tariffs

The Force and Frozen couldn’t save toy maker Hasbro from the US-China trade war. Hasbro shares plunged nearly 17% Tuesday after the company posted sales and earnings that missed forecasts, due in large part to tariffs on its products — despite strong sales of toys tied to top Disney movie franchises. It was the worst…MORE

McDonald’s shares fall 5% as competition heats up

McDonald’s shares fall 5% as competition heats up

Growth at McDonald’s missed some expectations in the third quarter, suggesting that the chain is feeling the heat from competitors who are getting aggressive on breakfast and plant-based menu items. McDonald’s shares dropped about 5% on the news Tuesday. The company reported that sales at US restaurants open at least 13 months grew 4.8% in…MORE

Under Armour founder Kevin Plank is stepping down as CEO

Under Armour founder Kevin Plank is stepping down as CEO

Under Armour is making changes at the top as it continues to struggle against its rivals. CEO and founder Kevin Plank is stepping back from the position, the company announced Tuesday. He will be replaced by current chief operating officer Patrik Frisk, who will assume the position on January 1, 2020. Plank will become executive…MORE

Pizza Hut is testing out an Incogmeato pizza in a round box

Pizza Hut is testing out an Incogmeato pizza in a round box

Incogmeato, Kellogg’s new line of plant-based protein, is coming to Pizza Hut. Starting on Wednesday, the pizza chain will serve a new vegetable pizza topped with Incogmeato’s meatless Italian sausage at one location in Phoenix, Arizona. The test will last for a limited time. Pizza Hut will sell the pie in a new, round pizza…MORE

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