Category Archives: CNN – Business

1,500 US flights canceled for Saturday, as winter storm is set to pummel East Coast

1,500 US flights canceled for Saturday, as winter storm is set to pummel East Coast

Airlines have canceled thousands of flights for Saturday as a powerful winter storm packing strong winds and many inches of snow is set to envelop major cities on the East Coast. According to FlightAware, nearly 1,500 flights within, into or out of the United States are canceled Saturday, with East Coast hubs being the most…MORE

Consumer sentiment sinks on inflation and Omicron worries

Consumer sentiment sinks on inflation and Omicron worries

Worries over soaring prices and the Omicron variant of the coronavirus soured Americans’ views of the economy in January. US consumer sentiment in January fell nearly 5% to the lowest level since November 2011, the University of Michigan’s consumer sentiment survey showed Friday. Survey respondents felt worse about both the current economic conditions, as well…MORE

Good news: Paychecks are going up. Bad news: So is inflation

Good news: Paychecks are going up. Bad news: So is inflation

Americans’ paychecks continued to rise at the end of 2021. But along with that, so did prices. Compensation for American workers climbed 4% between December 2020 and December 2021, marking the biggest increase since the fourth quarter of 2001, according to the Bureau of Labor Statistics. Private sector workers fared even better, with their compensation…MORE

Erratic schedules are a nightmare for America’s workers

Erratic schedules are a nightmare for America’s workers

Retail and restaurant work is notorious for irregular scheduling and last-minute changes — factors that can harm workers’ lives and thesc well-being of their families. Despite essential workers being hailed as heroes during the Covid-19 pandemic, and a historically tight labor market, schedule instability has improved little over the past two years, new research finds.…MORE

A key inflation measure rose at the fastest pace in 40 years

A key inflation measure rose at the fastest pace in 40 years

A key measure of inflation rose 5.8% between December 2020 and December 2021, the Bureau of Economic Analysis reported Friday. It was the biggest advance since 1982. Energy prices alone rose nearly 30% over the course of 2021, while food prices climbed 5.7%. Stripping out those two components, the core consumer price index — which…MORE

Gone too far? Tech earnings raise questions about market panic

Gone too far? Tech earnings raise questions about market panic

Investors in stocks have balked at the Federal Reserve’s aggressive pivot as it takes a stand against inflation. But earnings from some of the biggest companies still look pretty solid. Does that mean the sell-off of tech and other high-growth companies is overdone? Apple: The iPhone maker, whose shares are down 10% this year, reported…MORE

Child care workers are vanishing and it’s hurting the entire economy

Child care workers are vanishing and it’s hurting the entire economy

Since losing one-third of its workforce at the outset of the pandemic, the child care industry has seen a jobs recovery that’s been slow and incomplete. And now it’s starting to backslide. After shedding 4,500 jobs from September through November, preliminary estimates from the US Bureau of Labor Statistics show that the child day care…MORE

A jump in factory fires is dangerous for the people who work there – and the supply chain

A jump in factory fires is dangerous for the people who work there – and the supply chain

The unraveling of the global supply chain has been blamed on a multitude of factors — the pandemic, labor and raw material shortages, skyrocketing shipping prices and adverse weather events among them. Now, add one more to the list: a surge in factory fires. Supply chain disruptions last year jumped 88% over the year prior,…MORE

Exclusive: Taco Bell favorite Mountain Dew Baja Blast is going boozy

Exclusive: Taco Bell favorite Mountain Dew Baja Blast is going boozy

Mountain Dew’s Baja Blast, the beloved tropical lime-flavored beverage that originated at Taco Bell, is being made boozy. Boston Beer Company, which partnered with Pepsi to make a spiked seltzer version of the soft drink, exclusively told CNN Business that it’s surprising fans with a new “HARD MTN DEW” flavor that wasn’t part of its…MORE

UniCredit was thinking of buying a Russian bank. Not any more

UniCredit was thinking of buying a Russian bank. Not any more

UniCredit has dropped a potential bid for a Russian state-owned bank because of the escalating crisis over Ukraine. CEO Andrea Orcel confirmed reports that the Italian bank was considering acquiring Otkritie when it goes public, but has since abandoned the project due to the “geopolitical environment.” “We were indeed evaluating the possibility of contributing our…MORE

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