Year: 2021

After committing one of the “biggest blunders in banking history,” Citibank won’t be allowed to recover the almost half a billion dollars it accidentally wired to Revlon’s lenders, a US District Court judge ruled. Citibank, which was acting as Revlon’s loan agent, meant to send about $8 million in interest payments to the cosmetic company’s

CNN is making a series of programming changes in April, starting with a move to the mornings by Brianna Keilar. The new schedule was announced on Wednesday morning. Keilar, who currently anchors from 1 to 3 p.m. Eastern, will join John Berman on the network’s flagship morning show, “New Day.” Weekend anchor Ana Cabrera will

Early in the pandemic, Jane Cox Childress brought her teenage son warm cookies at his desk during a remote learning session. She received a text message in response: “Mom, could you please not bring me anything when I’m in class?” Childress said she “learned quickly to be more respectful when he was in class.” After

Many investors are increasingly hesitant to hold shares of oil and gas companies as a global energy transition gathers steam. Not Warren Buffett. What’s happening: Buffett’s Berkshire Hathaway just disclosed a new stake in Chevron, the second largest oil firm in the United States. The $4.1 billion investment could have been spearheaded by Berkshire investment

Burger King doesn’t want to come out a loser in fast food’s chicken sandwich wars. So it’s planning an upgrade. The chain said Wednesday that it is replacing its current crispy chicken sandwich with a new, hand-breaded version. The new product, which comes in original or spicy, is made with a savory signature sauce and

Retail sales increased last month, the Commerce Department said Wednesday, marking their first increase since September. Retail sales grew 5.3% in January from the prior month, beating out economists’ projections. Economists surveyed by Refinitiv expected sales to grow 1.1%. The Commerce Department also revised December’s data lower to a 1% decline from 0.7%. Top retailers

Nestlé will sell its North American bottled water business, including Poland Spring, Deer Park, Ozarka and Arrowhead, in a $4.3 billion deal as it focuses on its premium brands. The Swiss consumer goods giant said in a statement on Wednesday that it has agreed to sell the brands to private equity firm One Rock Capital

Jeff Bezos has reclaimed his title of world’s richest person, ending Elon Musk’s roughly six-week reign atop the list. Musk lost about $4.5 billion Tuesday after Tesla shares fell 2.4%, which was enough to knock him to second place on the Bloomberg Billionaires Index ranking. Bezos’ net worth also fell as the broader stock market

It appears that Warren Buffett is souring on the financial sector’s prospects, and that the Oracle of Omaha also has a newfound interest in Big Oil, as well as telecom and media. He also bought stakes in Dow components Chevron and Verizon in the fourth quarter of last year. Buffett’s Berkshire Hathaway on Tuesday disclosed