Category Archives: CNN – Business

Tuesday Morning files for bankruptcy and will close 230 stores

Tuesday Morning files for bankruptcy and will close 230 stores

Discount home goods retailer Tuesday Morning filed for bankruptcy, blaming Covid-19 for prolonged store closures that caused an “insurmountable financial hurdle.” The Dallas-based chain said Wednesday it will permanently close approximately 230 of its nearly 700 US stores in cities where “too many locations are in close proximity.” The first phase of closures, which includes…MORE

GE is saying goodbye to its 129-year-old light bulb business

GE is saying goodbye to its 129-year-old light bulb business

General Electric is saying goodbye to the light bulb. The conglomerate is shedding a struggling business founded by Thomas Edison more than a century ago. After years of failing to find a buyer, GE announced Wednesday it will sell its 129-year-old lighting division to smart home company Savant Systems. The deal marks the latest step…MORE

Hong Kong’s richest man Li Ka-shing defends China’s plans for security law

Hong Kong’s richest man Li Ka-shing defends China’s plans for security law

Hong Kong’s richest man has defended China’s plan to introduce a national security law in the semi-autonomous city, a move that has reignited mass protests and renewed questions about the future of the global business hub. Billionaire tycoon Li Ka-shing said in a statement Wednesday that “it is within each and every nation’s [sovereign] right…MORE

Ford’s police SUVs will heat up to 133 degrees to burn the germs away

Ford’s police SUVs will heat up to 133 degrees to burn the germs away

The ongoing spread of coronavirus has made disinfecting police vehicles a major issue. After the New York City Police Department asked for a better way to sanitize its vehicles, Ford created software that will burn the germs out of the police department’s SUVs, the company announced Wednesday. With the new software, the Ford Police Utility…MORE

The economy is in shambles but Big Tech stocks are on fire

The economy is in shambles but Big Tech stocks are on fire

The Big Tech superstocks known as FAANG aren’t just surviving the coronavirus crisis. They’re thriving. At a time of mass unemployment, mounting bankruptcies and a historic collapse in GDP, these mega companies are powering a V-shaped recovery on Wall Street. Facebook, Netflix and Amazon have all hit record highs in recent days. Apple and Google…MORE

HBO Max chief on launching the new service during a pandemic

HBO Max chief on launching the new service during a pandemic

HBO Max launched Wednesday to big buzz, but also a litany of challenges. The new service from WarnerMedia, CNN’s parent company, premieres with a big library of TV shows and films from popular brands like HBO and Warner Bros. However, the service also enters a crowded marketplace with a price that’s more expensive than its…MORE

Stocks and bonds send mixed signals about economy

Stocks and bonds send mixed signals about economy

The stock market has soared since mid-March. It’s almost as if investors have forgotten that Covid-19 will continue to cripple the global economy and corporate earnings for the foreseeable future. But it’s a different story in the bond market. Long-term Treasury yields remain well below 1%, a sign that fixed income investors are painfully aware…MORE

Japan’s economy just got another $1 trillion shot in the arm

Japan’s economy just got another $1 trillion shot in the arm

Japan is injecting another $1 trillion into its economy to protect it from the effects of the coronavirus pandemic. Prime Minister Shinzo Abe’s government on Wednesday approved a 117 trillion yen ($1.1 trillion) relief package, doubling the amount previously committed in April. The new measures bring the total of Japan’s stimulus spending to 234 trillion…MORE

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