Category Archives: CNN – Business

The $94 billion fitness industry is reinventing itself as Covid-19 spreads

The $94 billion fitness industry is reinventing itself as Covid-19 spreads

As the coronavirus continues to spread, fitness studios around the country are shutting their doors and adjusting to a new reality. The sudden shift has inspired creativity and flexibility for gyms and studios, which are largely dependent on physical locations and on-site staff. The changes have rocked the fitness industry, which was worth $94 billion…MORE

WarnerMedia names Hulu’s founding CEO as new chief

WarnerMedia names Hulu’s founding CEO as new chief

With WarnerMedia preparing to launch its new streaming service HBO Max, the company is adding a streaming TV pioneer as CEO: Jason Kilar, the founding CEO of Hulu. CNN is a division of WarnerMedia, along with HBO, Warner Bros, TNT, TBS, and other media assets. Kilar will join the company on May 1. Kilar will…MORE

The next hit to your retirement fund: Disappearing dividends

The next hit to your retirement fund: Disappearing dividends

Pension funds and other investors are smarting from the worst quarter for stocks since 2008. Now many are bracing for more pain as companies slash dividend payouts in the face of a global recession that is wiping out their revenue and putting millions of their workers out of a job. Banks have already started ditching…MORE

1.1 million autoworkers are off the job in Europe

1.1 million autoworkers are off the job in Europe

More than 1.1 million autoworkers have been forced to stay home in Europe as the coronavirus pandemic closes plants and brings production in the region to a standstill. The European Automobile Manufacturers’ Association said that factory closures have so far affected roughly 40% of workers directly employed in vehicle manufacturing in Europe. The work stoppage…MORE

Booze sales are booming as people stockpile alcohol … but it may not last

Booze sales are booming as people stockpile alcohol … but it may not last

The coronavirus pandemic has forced millions of Americans to stay home, and they’re drinking a lot of alcohol to pass time — for now. Alcoholic beverage sales shot up 55% in the third week of March compared to the same time a year ago, according to Nielsen. That’s when several states, including New York, ordered…MORE

Can’t find what you want in the grocery store? Here’s why

Can’t find what you want in the grocery store? Here’s why

The coronavirus pandemic has delivered a shock to tens of millions of people in rich countries around the world: Suddenly, they can’t buy the food they want, when they want. Food supply chains in developed economies are showing increased signs of strain as nationwide lockdowns designed to curb the spread of the coronavirus heap pressure…MORE

Half a million Americans were furloughed by major department stores this week

Half a million Americans were furloughed by major department stores this week

Hundreds of thousands of retail workers lost their jobs this week as the coronavirus pandemic continues to decimate the industry. Stores are closed and online sales are slow because people are holding back on discretionary purchases like clothing. It’s anyone’s guess when stores will be able to reopen or if demand will return when they…MORE

Last quarter was brutal for stocks. This one is a wild card

The first quarter of 2020 was the worst three months for stocks since the global financial crisis. And it’s hard to say whether April through June will be any better. The details: The S&P 500 fell 20% between January and March. It was the worst quarter for the index since the end of 2008, when…MORE