Category Archives: CNN – Business

Europe could be facing a double-dip recession

Europe could be facing a double-dip recession

Recession is stalking Europe. Following record GDP growth in the third quarter, the region risks being tipped straight back into recession as sweeping restrictions aimed at curbing a second wave of coronavirus bring a rapid end to its fragile recovery. EU gross domestic product surged 12.1% between July and September, statistics agency Eurostat said in…MORE

Stocks are on track to wrap up their worst week since March

Stocks are on track to wrap up their worst week since March

It has been a messy week for the stock market. With only four days to go until Election Day, rising Covid-19 infections and uncertainty about further government stimulus to help the economy, there’s plenty for investors to worry about. Stocks are on pace to record one of their worst weeks of the year: All three…MORE

$284 million has already been wagered by British bettors on the US election outcome

$284 million has already been wagered by British bettors on the US election outcome

Americans aren’t the only ones obsessed with next Tuesday’s vote. British bettors are wagering a record amount of money on the US presidential election, dwarfing the amount wagered on any sporting event or even their own nation’s politics. As of Wednesday morning, £220 million, or about $284 million, had already been wagered on the Betfair…MORE

McDonald’s is finally bringing back the McRib

McDonald’s is finally bringing back the McRib

McDonald’s McRib is coming back. And this time, it’s going nationwide. For the first time in nearly a decade, the fast food chain is making the fan-favorite sandwich available at all of its 14,400 US restaurants when it hits menus on December 2. In previous years, the McRib was sold at only some locations, which…MORE

Big Tech is strengthening its hold on the US economy

Big Tech is strengthening its hold on the US economy

America’s tech companies are strengthening their hold on the economy during the coronavirus crisis — though for investors, some results look better than others. What’s happening: Apple, Amazon, Facebook and Alphabet all reported impressive results on Thursday for the July to September period. Their ability to generate tens of billions of dollars in revenue during…MORE

‘The Mandalorian,’ Disney’s biggest blockbuster of 2020, returns with a new mission

‘The Mandalorian,’ Disney’s biggest blockbuster of 2020, returns with a new mission

“The Mandalorian” premiered almost a year ago, serving as the biggest enticement to subscribe to Disney’s startup streaming service. The launch exceeded any reasonable expectations, but with Disney facing a much-altered media galaxy, there’s even more pressure on the live-action “Star Wars” series to deliver a big bounty to the studio. That’s because the coronavirus…MORE

China wants to be less reliant on the United States. That’s a tall order

China wants to be less reliant on the United States. That’s a tall order

China wants to counter the United States by boosting its technological capabilities and becoming more self sufficient. That’s easier said than done. Beijing outlined its goal for more economic independence this week as the Chinese Communist Party’s Central Committee put together its latest Five-Year Plan. The 14th iteration of the vast policy framework will cover…MORE

Starbucks expects sales to return to growth next year

Starbucks expects sales to return to growth next year

Starbucks expects its sales to grow next year, the company said Thursday. In the United States and the Americas, it expects same-store sales to jump between 17% and 22% next year. Internationally, the company is expecting a 25% to 30% spike. The numbers would be a sharp turnaround. Globally, sales at Starbucks stores open for…MORE

Amazon had a blowout quarter as people flocked to online shopping

Amazon had a blowout quarter as people flocked to online shopping

Amazon’s sales and profit soared in the latest quarter as shoppers turned to the online giant to deliver goods to their homes in the pandemic. Amazon said Thursday that during the three months ending September 30 its sales grew 37% compared to the same period last year, to $96.1 billion, and profit increased 197% to…MORE