Originally Published: 13 MAR 24 10:37 ET By Anna Cooban, CNN London (CNN) — Adidas has slumped to a rare annual loss, hit by the fallout from its costly break-up with rapper Ye, falling sales in North America and a huge tax bill. The German sportswear giant posted a net loss of €58 million ($63 million) in its
Continue Reading Originally Published: 12 FEB 24 13:43 ET By Mira Cheng, CNN (CNN) — Multiple large retailers, including Costco and Trader Joe’s, have recalled items containing dairy products from Rizo-López Foods Inc. due to possible Listeria contamination. Rizo-López Foods Inc. initially recalled dozens of dairy products last week after an investigation identified them as the source of a multistate Listeria outbreak that
Continue Reading Originally Published: 07 FEB 24 07:22 ET Updated: 07 FEB 24 07:24 ET By Leah Dolan, CNN (CNN) — Beyoncé has revealed she will be launching a hair care line on February 20. The 29-time Grammy winner made the announcement on Instagram, posting a cryptic video featuring apparent home movie footage of her mother’s salon Headliners,
Continue Reading Originally Published: 30 JAN 24 07:51 ET By Jordan Valinsky, CNN New York (CNN) — Starbucks is taking its extra virgin olive oil-infused drinks — which some customers previously complained of sending them straight to the bathroom — nationwide beginning Tuesday. The lineup, called Oleato, launched in a few US cities last year before slowly expanding to more stores.
Continue Reading Originally Published: 23 JAN 24 12:31 ET Updated: 23 JAN 24 13:52 ET By Nathaniel Meyersohn, CNN New York (CNN) — From theft to scanning errors, retailers are running into headaches with self-checkout after rolling out the technology aggressively over the last decade. Now, research finds another problem with self-checkout: fading customer loyalty. A newly-released study by researchers at Drexel
Continue Reading Originally Published: 18 JAN 24 12:00 ET Updated: 18 JAN 24 12:16 ET By Anna Bahney, CNN Washington, DC (CNN) — After moving higher the past two weeks, mortgage rates fell this week, dropping to the their lowest level since May 2023. The 30-year fixed-rate mortgage averaged 6.60% in the week ending January 18, down from 6.66% the
Continue Reading Originally Published: 17 JAN 24 05:00 ET Updated: 17 JAN 24 11:48 ET By Jeanne Sahadi, CNN New York (CNN) — The Consumer Financial Protection Bureau on Wednesday said it is proposing a rule that would curb excessive overdraft fees charged to customers of large banks and credit unions, potentially saving consumers as much as $3.5
Continue Reading Originally Published: 16 JAN 24 22:40 ET By Jessie Yeung, CNN Hong Kong (CNN) — Japanese brand Uniqlo is suing Shein over claims the Chinese fast-fashion retailer is selling copycats of its viral shoulder bag. Fast Retailing, the Japanese giant that owns both Uniqlo and Theory, said in a statement that the form of the “imitation products” that Shein is
Continue Reading Originally Published: 09 JAN 24 13:58 ET Updated: 09 JAN 24 14:00 ET By Brian Fung, CNN (CNN) — US lawmakers are mobilizing to prevent abrupt price hikes on millions of Americans’ internet bills, announcing new legislation to rescue a popular government program that’s set to run out of funding this spring. The previously unreported
Continue Reading Originally Published: 23 AUG 23 09:00 ET By Danielle Wiener-Bronner, CNN New York (CNN) — The Pumpkin Spice Latte is coming back, again. Starbucks said Wednesday that the signature drink would return to the fall menu on Thursday, marking its 20th anniversary. The perennial Starbucks favorite has become a reliable hit, making it an autumn(ish)
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Originally Published: 12 JUL 23 05:00 ET Updated: 30 JUL 23 16:25 ET By Katie Lobosco, CNN Washington (CNN) — While the Supreme Court struck down President Joe Biden’s student loan forgiveness program in late June, a separate and significant change to the federal student loan system is moving ahead. Eligible borrowers can now enroll
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(CNN)— Subway is running a promotion in August giving sandwich fans a chance to win free sandwiches for life if they agree to change their first name to Subway. According to Bloomberg, once a winner is chosen, the company will pay the winner’s legal fees to assume “a new iconic identity.” Subway has roughly 37,000
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New York (CNN) — Spotify is the latest streaming service to hike its prices. Beginning Monday, new subscribers will pay $1 more per month for its ad-free premium plan, rising to $10.99 per month. Current customers are being given a “one-month grace period before the new price becomes effective,” Spotify said. Spotify’s other tiers, like
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New York (CNN) — Some shoppers are buying Costco’s $4.99 rotisserie chickens and paying at self-checkout. The problem: They aren’t all members. Since Costco has expanded self-checkout, the company has noticed that non-members have been sneaking in to use membership cards that don’t belong to them. The warehouse club retailer will now ask for shoppers’
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(CNN) — Sunrise Growers has recalled frozen fruit products sold at chain stores nationwide over possible listeria contamination, the US Food and Drug Administration says. The products were distributed to Walmart, Whole Foods, Trader Joe’s, Target, Aldi and AWG across the country between fall 2022 and this week. The full list of recalled brands and
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(CNN) — President Joe Biden will announce Thursday that entertainment giant Live Nation (LYV) and ticketing behemoth Ticketmaster have pledged to give US consumers the ability to see the full price of tickets up front, minimizing the frequently frustrating experience of watching additional fees add up late in the checkout process when buying online. The
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(CNN) — One of Taco Bell’s most recognizable menu items is going vegan. The chain is testing a vegan Crunchwrap, marking the first time that Taco Bell has sold a fully vegan entree. Similar to a traditional Crunchwrap, the vegan version uses a “proprietary, boldly seasoned” plant-based protein created by the company, and is then
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(CNN) — America apparently needs more car seats. So, when Volkswagen unveiled the ID. Buzz, a retro-styled electric van, last year, it noted that the version for the North American market would be longer and would have three rows of seats. North America’s version of the ID. Buzz has now officially been revealed. “Designed and
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(CNN) — Amazon is revamping its delivery operations in an effort to cut costs while speeding up shipping times to the next day or sooner. Amazon has traditionally operated one national delivery network that distributed orders from warehouses spread across the country. If a local warehouse didn’t have the product a customer ordered in, say,
Continue Reading By David Goldman, CNN (CNN) — Silicon Valley Bank failed in rapid, stunning fashion Friday. This week, the tech and banking sector are growing skittish about the next shoe to drop. What took place Friday was an old-fashioned bank run: Customers yanked $42 billion from Silicon Valley Bank on Thursday, leaving the bank with $1 billion in negative cash
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(CNN)- Discounts and deals apparently swayed people into spending more this holiday season. Monday Mastercard reported holiday retail sales in the U.S. jumped over 7.5% compared to last year. The company looked at sales in store and online from Nov. 1st to Dec. 24th. They said this year retailers discounted heavily, while consumers went hunting
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By Alicia Wallace, CNN Business A key measure of inflation, wholesale prices, rose by 8% in October from a year before, according to the latest report from the Bureau of Labor Statistics. The number is significantly better than forecasts. Economists expected the Producer Price Index, which measures prices paid for goods and services before they
Continue Reading By Kristina Sgueglia, CNN Walmart agreed to the framework of a $3.1 billion settlement, which resolves allegations from multiple states’ attorneys general that the company failed to regulate opioid prescriptions contributing to the nationwide opioid crisis. The settlement, according to the office of New York Attorney General Letitia James, who co-led a coalition of attorneys
Continue Reading By Nathaniel Meyersohn, CNN Business Wealthier customers pinched by inflation are switching to Walmart for groceries, boosting sales at America’s largest retailer. Walmart on Tuesday reported annual US sales growth of 8.2% last quarter at stores open for at least a year. The results beat Wall Street analysts’ expectations, pushing Walmart’s stock up around 6%
Continue Reading By Nicole Goodkind, CNN Business The crypto industry is still reeling from last week’s shocking death spiral of digital currency exchange FTX. The company’s bankruptcy filing has left financial backers in the lurch — including the usual suspects in Silicon Valley, from Masayoshi Son’s SoftBank to VC firm Sequoia. A few names on the list
Continue Reading By Matt Egan, CNN Business In the span of just three years, Sam Bankman-Fried built FTX into a massive crypto exchange backed by marquee investors and valued at $32 billion. It took mere days for all of that to implode in a sprawling bankruptcy filing. Sheila Bair, a top regulator during the 2008 financial crisis,
Continue Reading By Danielle Wiener-Bronner, CNN Business Oscar Mayer. Velveeta. Capri Sun. Kraft Heinz CEO Miguel Patricio admits: Some of the company’s iconic products had become “a little bit dusty.” “For a while, we were apologetic about the brands that we had,” Patricio told CNN Business. “We got distracted believing that the future was launching new small
Continue Reading By Michelle Toh, CNN Business Binance founder and CEO Changpeng Zhao is once again in the global spotlight, this time as the self-appointed white knight of crypto as the industry is embroiled in crisis. The Canadian billionaire has made headlines this week for offering to come to the aid of entrepreneurs who are facing a
Continue Reading By Diksha Madhok, CNN Business Shares of Taiwan Semiconductor Manufacturing Company surged on Tuesday after Warren Buffett’s Berkshire Hathaway disclosed that it had purchased a $4.1 billion stake in one of the world’s largest chipmakers. In a filing with the United States’ Securities and Exchange Commission on Monday, Berkshire Hathaway said it acquired about 60
Continue Reading By Stella Chan and Taylor Romine, CNN About 48,000 academic employees across the University of California system walked off the job Monday morning, demanding higher pay and improved working conditions, according to the union representing them. Striking workers include researchers, graduate student researchers and instructors, trainees, fellows, and others who provide academic support across the
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