Category Archives: CNN – Business

Stein Mart files for bankruptcy and will close most of its 300 stores

Stein Mart files for bankruptcy and will close most of its 300 stores

Discount retailer Stein Mart has filed for bankruptcy and plans to close most of its nearly 300 stores. The 112-year-old company blamed its failure on changing consumer habits and the pandemic, both of which “have caused significant financial distress on our business,” Stein Mart CEO Hunt Hawkins said in a release on Wednesday. Like other…MORE

Romantic Cartier ad featuring two men stirs censorship debate in China

Romantic Cartier ad featuring two men stirs censorship debate in China

A Chinese advertisement for Cartier has reignited discussion about the country’s taboo around LGBTQ rights. The French luxury jeweler released a minute-long ad Monday to promote its wares — including its iconic Trinity ring — ahead of China’s Qixi Festival on August 25, the country’s answer to Valentine’s Day. The ad features couples in romantic…MORE

Meat prices are finally falling — except for hot dogs

Meat prices are finally falling — except for hot dogs

Americans finally got some relief in the grocery store last month as prices fell. Food prices overall fell a seasonally adjusted 0.4% in July, the first decrease since April of last year, the Bureau of Labor Statistics reported Wednesday. Prices of food for the home fell 1.1% in July, compared to an increase of 0.7%…MORE

Why stores need to pay more attention to the air we breathe

Why stores need to pay more attention to the air we breathe

During the coronavirus pandemic, supermarkets and retail stores have added a variety of safety features. Workers have been required to mask up and, more recently, most customers too. But most have yet to tackle what could be another important safety measure — changes to the systems that keep the stores hot and cold, and that…MORE

Black women with natural hairstyles are less likely to get job interviews

Black women with natural hairstyles are less likely to get job interviews

Black women with natural hairstyles including curly afros, twists or braids are less likely to get job interviews than White women or Black women with straightened hair, new research shows. Participants in the studies, carried out by researchers from Duke University’s Fuqua School of Business, perceived natural Black hairstyles as less professional, and the effect…MORE

Britain finally has something ‘world beating.’ A deep recession

Britain finally has something ‘world beating.’ A deep recession

Britons woke up this morning to news that the UK economy shrunk by 20.4% in the second quarter, the worst slump on record and the biggest drop of any major global economy. The crash follows a 2.2% contraction in the first quarter, meaning the economy is officially in recession. The country’s finance minister, Rishi Sunak,…MORE

Sumner Redstone, billionaire media mogul, dead at 97

Sumner Redstone, billionaire media mogul, dead at 97

Sumner Redstone, a media titan and billionaire who, as chairman of Viacom and National Amusements, drew headlines both for his deal-making as well as his turbulent personal life, died on Tuesday. He was 97. At his peak, Redstone’s sprawling empire included CBS and Viacom, corporations that were the parents of a host of subsidiaries ranging…MORE

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