Category Archives: CNN – Business

Wall Street extends rally

Wall Street extends rally

The US stock market is off to the races on Tuesday, extending its rally from the start of the week as all three major indexes kicked the day off sharply higher. The S&P 500, Wall Street’s broadest gauge, opened up 1.3%, while the Dow rose 0.9%, or 330 points. The Nasdaq Composite, which had lagged…MORE

Dubai is switching its work week to align with global markets

Dubai is switching its work week to align with global markets

The United Arab Emirates and its international finance hub Dubai are switching to a four-and-a-half-day work week ending midday Friday to make it easier to do business globally. The move away from the current Sunday to Thursday schedule — the first by a Gulf state — will help the UAE “achieve business continuity and alignment…MORE

American productivity fell by the largest amount since 1960

American productivity fell by the largest amount since 1960

US labor market productivity tanked in the third quarter. Paychecks grew and the number of hours worked jumped, but workers’ output increased only at a moderate pace. Revisions to the data that were initially published a month ago show that the productivity drop was even worse than feared, falling 5.2% on a seasonally adjusted basis.…MORE

Should retailers like Kohl’s and Macy’s break themselves up?
Luke Sharrett/Bloomberg/Getty Images

Should retailers like Kohl’s and Macy’s break themselves up?

For years, the future of the department store has been in doubt, as shoppers abandon malls and instead opt to scoop up dresses, appliances and accessories online. But some investors believe they’ve found a clever way for these once-mighty brands to move forward. What’s happening: Activist shareholders are increasingly pushing retailers to spin off their…MORE

Exclusive: Elizabeth Warren blasts Hertz for $2 billion stock buyback while jacking up rental car prices
David Paul Morris/Bloomberg/Getty Images

Exclusive: Elizabeth Warren blasts Hertz for $2 billion stock buyback while jacking up rental car prices

Hertz has gone from bankruptcy court to buybacks in the span of five months. And Senator Elizabeth Warren is not happy about it. The Massachusetts Democrat wrote Hertz a letter Monday calling the company out for rewarding shareholders with up to $2 billion in stock buybacks despite skyrocketing rental car prices. Warren questioned why Hertz…MORE

As millions fell into poverty during the pandemic, billionaires’ wealth soared
Igor do Vale/Sipa USA/AP

As millions fell into poverty during the pandemic, billionaires’ wealth soared

The coronavirus pandemic has worsened the massive financial gap between rich and poor around the world, a new report has found. Global billionaires last year enjoyed the steepest increase in their share of wealth since the World Inequality Lab began keeping records in 1995, according to the research group’s analysis released Tuesday. Their net worth…MORE

5 mistakes to avoid if you have to lay off employees remotely
CNN

5 mistakes to avoid if you have to lay off employees remotely

How you let employees go matters for your company’s reputation. Consider Better.com’s CEO, who just fired roughly 900 employees in a very brief Zoom call and quickly faced backlash. No one will ever react positively to hearing they are terminated — whether it’s due to balance sheet problems or their own performance. So it’s incumbent…MORE

The Washington Post’s longtime editorial page editor dies at 66

The Washington Post’s longtime editorial page editor dies at 66

Fred Hiatt, The Washington Post’s longtime editorial page editor, died on Monday morning. He was 66 years old. The Post’s newsroom was informed of Hiatt’s death on Monday afternoon by publisher Fred Ryan. The Post said in its obituary that Hiatt had cardiac arrest on November 24 while visiting his daughter in New York and…MORE

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