Category Archives: CNN – Business

Walmart, UPS and others are staffing up for an online shopping surge this holiday season

The upcoming holiday shopping stretch will look much different for retailers in a pandemic. Instead of preparing for door-busters on Black Friday and frenzied shopping in stores before Christmas, many retailers and shipping companies are beginning to staff up in anticipation of a flood of online delivery and curbside pickup orders. Walmart, which has already…MORE

Nike shares spike 8% after blockbuster sales

Nike shares spike 8% after blockbuster sales

Nike beat analysts’ revenue expectations for its first fiscal quarter by more than $1 billion Tuesday, signaling the sportswear giant is making a healthy comeback from the pandemic. The company reported diluted earnings per share of $0.95 for the three months ended August 31. Revenue was $10.6 billion, down 1% year-over-year. Wall Street analysts had…MORE

Elon Musk promises $25,000 Tesla and says Model S ‘Plaid’ is coming soon

Elon Musk ended Tesla’s big battery event Tuesday evening, with some big promises about the pricing Tesla’s future cars and the announcement of a new ultra-fast version of today’s Model S. After reviewing improvements in Tesla’s own battery designs and battery manufacturing capabilities, improvements that could result in huge reductions in battery costs, Musk promised…MORE

Commercial real estate flounders as housing market booms

Commercial real estate flounders as housing market booms

The housing market is red hot thanks to record-low mortgage rates and consumers looking to flee cities for the suburbs. But offices, shopping malls and other commercial real estate properties have been hit hard by the coronavirus pandemic. The rise of Zoom, Slack and other productivity tools has made it easier for people to set…MORE

Chicken wings are hot. Big restaurant chains are paying attention

Chicken wings are hot. Big restaurant chains are paying attention

America’s love for chicken wings has only grown during the pandemic. And big restaurant chains from Applebee’s to Domino’s want in. Shares of Wingstop, a chicken wing chain with nearly 1,300 restaurants nationwide and roughly 160 locations abroad, have popped nearly 60% this year. Morningstar restaurant analyst R.J. Hottovy said in a report last week…MORE

Chinese tycoon who criticized Xi Jinping’s handling of coronavirus jailed for 18 years

Chinese tycoon who criticized Xi Jinping’s handling of coronavirus jailed for 18 years

A Chinese billionaire who criticized President Xi Jinping’s handling of the coronavirus pandemic has been jailed for 18 years on corruption charges, a court said Tuesday. Ren Zhiqiang, a retired real-estate tycoon with close ties to senior Chinese officials, disappeared in March after he allegedly penned a scathing essay that month criticizing Xi’s response to…MORE

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