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Category Archives: CNN – Business

The debate over $600 payments could dictate the US recovery

The debate over $600 payments could dictate the US recovery

The economic recovery from Covid-19 could stall in July and August as rising coronavirus cases in parts of the United States force new restrictions on activity and encourage people to stay at home. But that’s not the only issue keeping investors up at night. There’s also a growing fear that government officials could pull crucial…MORE

Sur La Table files for bankruptcy

Sur La Table files for bankruptcy

Sur La Table, the nearly 50-year-old purveyor of upscale kitchenware, has gone bankrupt. The company filed for Chapter 11 bankruptcy protection late Wednesday, announcing in a press release that it’s putting itself up for sale and will close a substantial number of stores so it can “prosper in the current retail environment and position the…MORE

How Kanye West embodies the Payroll Protection Program’s big problems

How Kanye West embodies the Payroll Protection Program’s big problems

He may be a self-proclaimed “Christian Genius Billionaire,” but Kanye West is catching flak after his Yeezy apparel brand applied for government assistance to weather the coronavirus crisis. Yeezy received a loan worth at least $2 million through the Paycheck Protection Program, the $660 billion economic relief fund designed to help small businesses survive and…MORE

Walgreens to cut 4,000 jobs at its UK Boots division

Walgreens is laying off 4,000 employees at Boots, its United Kingdom drugstore division. Although the layoffs make up 7% of its Boots workforce, it’s a tiny fraction of the 440,000 Walgreens employees worldwide. Still, it’s a sign of the financial challenges Walgreens faces during the Covid-19 pandemic. Walgreens announced the layoffs Thursday alongside downbeat quarterly…MORE

Walmart is about to give Amazon Prime a serious run for its money

Walmart is about to give Amazon Prime a serious run for its money

Walmart is reportedly close to launching its own membership program that closely resembles Amazon Prime. The retailer plans to unveil Walmart+ in July, a $98 per year service that includes same-day delivery, fuel discounts and other perks, according to Recode. Introduction of the service was pushed back from the spring because of the pandemic and…MORE

United and American Airlines cancel Hong Kong flights over crew Covid-19 tests

US airlines are canceling flights to and from Hong Kong after the city said it would require all crew members to be tested for Covid-19 upon arrival. American Airlines, which had been scheduled to resume flights from Dallas to Hong Kong on Thursday, will now restart on August 5. “We’ve been making regular adjustments to…MORE

Bed Bath & Beyond plans to close 200 stores over the next two years

Bed Bath & Beyond plans to close 200 stores over the next two years

Bed Bath & Beyond announced Wednesday that it plans to close roughly 200 stores in the next two years. The retail chain — which also operates Buybuy Baby, Christmas Tree Shops and Harmon Face Values — said it would be mainly closing Bed Bath & Beyond stores, starting later this year. The announcement came as…MORE