Category Archives: CNN – Business

Vaccination megasites pop up in empty malls

Vaccination megasites pop up in empty malls

Now that Covid-19 vaccination efforts are ramping up, local health officials are on the hunt for locations that can quickly be converted into vaccination clinics, and malls across the country, battered by declines in in-person shopping, are starting to play a role. Mall operators are sitting on plenty of abandoned retail space that might be…MORE

The online shopping exec Walmart hired to take on Amazon is leaving

The online shopping exec Walmart hired to take on Amazon is leaving

The executive hired to help boost Walmart’s e-commerce business to compete with Amazon is leaving the company. Marc Lore, who joined the company in 2016 after selling his online startup Jet.com to Walmart, is retiring at the end of January, the company announced Friday. Lore, the chief executive of Walmart’s US e-commerce arm, initially led…MORE

Lawmakers ask travel companies to step up security ahead of inauguration

Lawmakers ask travel companies to step up security ahead of inauguration

US lawmakers are asking for help from travel companies including bus operators, car rental companies and hotels to prevent an attack on the inauguration and investigate last week’s Capitol insurrection. Washington, DC, and states across the country are heightening security and preparing reinforcements this week ahead of potential armed protests from Saturday until at least…MORE

JPMorgan Chase just reported a record quarterly profit. But its CEO is still nervous

JPMorgan Chase just reported a record quarterly profit. But its CEO is still nervous

The economy may not have fully recovered yet, but that’s no problem for America’s biggest bank. JPMorgan Chase reported a record profit of $12.1 billion for the fourth quarter Friday — easily topping Wall Streets forecasts. Still, JPMorgan Chase CEO Jamie Dimon still sounded a bit nervous about the near-term economic outlook, citing the lingering…MORE

Wells Fargo can’t seem to escape its troubled past

Wells Fargo can’t seem to escape its troubled past

Wells Fargo is still being haunted by its history of ripping off customers. More than four years after the Wells Fargo fake-accounts scandal erupted, the bank reported Friday another $321 million of quarterly losses tied to customer refunds. That brings Wells Fargo’s 2020 total for what it calls customer “remediation” to a staggering $2.2 billion.…MORE

Retail sales decline for third straight month

Retail sales decline for third straight month

US retail sales dropped last month, the Commerce Department said Friday, marking the third straight month without any growth. Retail sales fell 0.7% in December from the month prior. Economists surveyed by Refinitiv expected sales to be flat. America’s economic recovery took a hit in the final months of 2020, and the retail sector hasn’t…MORE

Even $1,400 checks aren’t exciting Wall Street

Even $1,400 checks aren’t exciting Wall Street

News that President-elect Joe Biden is asking Congress to pass a $1.9 trillion stimulus package would normally give markets a big boost. Not this time. US stocks slid on Thursday, and futures indicate they could lose more ground Friday. The S&P 500 has shed 0.8% this week, setting it up for its first weekly decline…MORE

Marvel’s ‘WandaVision’ looks to make Disney+ even mightier

Marvel’s ‘WandaVision’ looks to make Disney+ even mightier

“WandaVision,” Marvel Studios’ first original series for Disney+, hits streaming this weekend. That’s excellent news for Disney+, considering that Marvel is the company’s mightiest brand. And it’s bad news for Disney’s rivals, since the new service has notched 86 million subscribers, even without an exclusive original series from Hollywood’s biggest blockbuster franchise. Sure, Disney+ has…MORE

The power of pets: Chewy and Petco have become Wall Street darlings

The power of pets: Chewy and Petco have become Wall Street darlings

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. In today’s business news: Costco has some sad news for analog photographers, Taco Bell is bringing back potatoes, and Petco is taking on Chewy. Let’s get into it. PICTURE THIS  Costco is…MORE

Playlist