Category Archives: CNN – Business

Jeff Bezos endorsed higher corporate tax rates. But it won’t cost him much

Jeff Bezos endorsed higher corporate tax rates. But it won’t cost him much

A year ago, Joe Biden, then the presumptive Democratic nominee for president, was picking a fight with Amazon over how little it paid Uncle Sam. Now Biden is president, and Amazon CEO Jeff Bezos is on a lonely island supporting the White House’s plan — to raise corporate taxes. Hardly any other company leaders have…MORE

BJ’s Wholesale Club CEO dies unexpectedly at 49

BJ’s Wholesale Club CEO dies unexpectedly at 49

Lee Delaney, CEO of BJ’s Wholesale Club, died unexpectedly on Thursday. He was 49. The warehouse chain shared the news in a release on Friday, noting that Delaney passed of “presumed natural causes.” “We are shocked and profoundly saddened by the passing of Lee Delaney,” said Christopher J. Baldwin, executive chairman of BJ’s board of…MORE

So long, leggings. Jeans are having a resurgence, Levi’s CEO says

So long, leggings. Jeans are having a resurgence, Levi’s CEO says

With many people still working from home, every day is casual Friday. That’s great news for jeans maker Levi Strauss. The iconic denim company reported earnings and sales after the closing bell Thursday that topped Wall Street’s forecasts. Shares of Levi Strauss, which went public in 2019, rose more than 3% Friday to hit a…MORE

All that stimulus is sending inflation higher

All that stimulus is sending inflation higher

Worries about sudden inflation spikes are keeping investors and economists up at night. Their concerns aren’t baseless: Inflation is indeed rising in the United States, government data for producer prices showed Friday. The question on everyone’s mind remains: Is inflation a temporary sugar rush from stimulus or is it here to stay? The US Producer…MORE

Lil Nas X Satan shoe buyers can get a full refund after Nike lawsuit

Lil Nas X Satan shoe buyers can get a full refund after Nike lawsuit

The company that sold customized Nike Air Max 97s — featuring satanic symbols and a red liquid in the sole that supposedly contains human blood — will buy back customers’ shoes for a full refund. Nike settled a lawsuit with MSCHF, the Brooklyn-based art and design studio behind the Lil Nas X branded “Satan” shoe…MORE

Supply chain problems hit cars and … ketchup packets

The price of General Motors cars is going up, and ketchup packets have become impossible to find. What’s happening: At first glance, these two trends may not have much in common. But they share a root cause: Thanks to the pandemic, global supply chains have broken down, triggering shortages of in-demand products and crucial manufacturing…MORE

Boeing’s 737 Max has a new problem that will ground some of the jets again

Boeing’s 737 Max has a new problem that will ground some of the jets again

Boeing announced a new problem with the troubled 737 Max — this time, the issue is with its electrical system. “Boeing has recommended to 16 customers that they address a potential electrical issue in a specific group of 737 Max airplanes prior to further operations,” the company said. Airlines need to verify that one of…MORE

Southwest says it needs all flight attendants back at work this summer

Southwest says it needs all flight attendants back at work this summer

In another sign that air travel is rebounding, Southwest told 3,000 flight attendants and pilots on leave it’ll need them back on the job by this summer. Southwest was able to avoid involuntary layoffs and furloughs that other airlines imposed during last year’s downturn. It accomplished that after 4,000 of its 61,000 employees took buyouts…MORE