Category Archives: CNN – Business News

India suffers first recession in decades

India suffers first recession in decades

India has plunged into recession for the first time in nearly a quarter of a century as the pandemic continues to weigh heavily on Asia’s third biggest economy. Official data published on Friday showed gross domestic product for the July-September quarter fell by 7.5% compared to the same period last year, when the economy was…MORE

Black Friday is different this year. But all is not lost for retailers

Black Friday is different this year. But all is not lost for retailers

It’s no secret that this Black Friday looks different from the ones that have come before it. The pandemic has cast a pall over retail’s big day, leading shoppers to swap crowds for internet sales. Nearly 51% of shoppers feel anxious about shopping in-store during the holidays, and 64% of their budget is expected to…MORE

Knife-edge Swiss vote could make businesses liable for global rights abuses

Knife-edge Swiss vote could make businesses liable for global rights abuses

Swiss voters are about to decide whether a business should be held liable for human rights and environmental abuses, even if the wrongdoing was committed in a foreign country by a subsidiary or a supplier it works closely with. The question has divided the country ahead of a referendum on Sunday, and it could have…MORE

China slaps tariffs of up to 212% on Australian wine imports

China slaps tariffs of up to 212% on Australian wine imports

Australian winemakers have been dealt a huge blow from China as tensions continue to spiral between the two countries. Chinese regulators announced Friday that they would impose heavy tariffs on Australian wines after finding preliminary evidence of dumping. Starting Saturday, China will begin slapping duties of between 107.1% and 212.1% on Australian wine imports, the…MORE

Whole Foods sent some customers a disconcerting email about their turkey

Whole Foods sent some customers a disconcerting email about their turkey

Bring on the frantic “where can I get a turkey TODAY?!” searches. An undetermined number of Thanksgiving chefs who purchased their bird from Whole Foods woke up this morning to a concerning email. A “small number” of fresh market turkeys that were purchased from Whole Foods “did not meet our high expectations for quality,” the…MORE

Disney increases number of planned layoffs to 32,000 employees

Disney increases number of planned layoffs to 32,000 employees

Walt Disney Co. is planning to shed 32,000 employees by the end of March — 4,000 more than previously announced — as the coronavirus pandemic continues to hammer its parks and resorts business. The additional layoffs were disclosed in a filing to the US Securities and Exchange Commission on Wednesday. Disney employs around 223,000 people,…MORE

Australia’s Bega Cheese buys Lion Dairy from Kirin

Australia’s Bega Cheese buys Lion Dairy from Kirin

Japanese beverage giant Kirin has finally offloaded its Australian dairy business, months after it was forced to scrap a bigger deal because of geopolitical tensions with China. Kirin is selling Lion Dairy to Australian company Bega Cheese for 560 million Australian dollars ($412 million), the companies said on Thursday. Under the agreement, Bega is acquiring…MORE

Fox News staffers thought Newsmax was a joke. But they’re not laughing anymore

Fox News staffers thought Newsmax was a joke. But they’re not laughing anymore

Fox News is taking action to stave off newfound competition from Newsmax TV. Producers on some Fox programs have been told to monitor Newsmax’s guest bookings and throw some sand in Newsmax’s gears by encouraging guests who appear on both channels to stop saying yes to the upstart. According to Fox sources, producers were told…MORE

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