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Business News

Global markets brace for a nervous week over Omicron concerns

Stocks in Asia fell on Monday while European markets and US futures edged higher as investors continued to digest news about a new Covid-19 variant. Japan’s Nikkei 225 was down about 1.6%, while Hong Kong’s Hang Seng Index had dipped about 1% by 3.30 a.m. ET. China’s Shanghai Composite was flat. European markets opened higher,…

Omicron news coverage is in overdrive, but there’s still so much we don’t know

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Friday’s satirical headline by The Onion said it best: “Nation Nearly Strings Together 3 Good Days In Row.” The blessing of Thanksgiving on Thursday was followed by a curse on Friday: Urgent news about the…

How one local reporter’s instincts focused public attention on the Ahmaud Arbery case

The Ahmaud Arbery trial may not have happened without Larry Hobbs, a writer and reporter at The Brunswick News in Georgia. “Every national and global news story begins locally, sometimes with a single reporter who’s determined to follow up and get to the truth,” CNN’s chief media correspondent Brian Stelter said on Reliable Sources Sunday.…

Cryptocurrency exchange Coinstore enters India despite pending curbs on trade

Singapore-based virtual currency exchange Coinstore has begun operations in India at a time when the Indian government is preparing legislation to effectively bar most private cryptocurrencies. Coinstore has launched its web and app platform and plans branches in Bangalore, New Delhi and Mumbai which will act as its base in India for future expansion, its…

Facing shortages, Canada taps its strategic reserves of maple syrup

Amid shortages, Canada is tapping into its strategic reserves. This time, for maple syrup. The Quebec Maple Syrup Producers, a leading trade group, said it is releasing roughly 50 million pounds from its strategic maple syrup reserves, almost half of the stockpile, Bloomberg first reported. The government-supported organization, which is often called the OPEC of…

The job market is looking way better. It’s still playing catch-up

More than 20 months into the pandemic, the US job market has reached a milestone. What’s happening: Weekly claims for unemployment benefits fell to 199,000 last week after seasonal adjustments, their lowest level since 1969. They hit a peak of 6.15 million in April 2020. So, does that mean employment conditions are back to normal?…

Going to the store may be your smartest bet to navigate the supply chain crisis this holiday

The supply chain crisis means last-minute gift buyers may have little choice but to go shopping the old-fashioned way this holiday season. High demand, combined with supply chain delays, materials’ shortages and troubles hiring workers, are shrinking the availability of items both online and at stores. As customers get closer to the last minute, physical…

These major chains boomed as small retailers had to close up shop

Many Americans are shopping small Saturday to support mom-and-pop clothing, toy, furniture, sporting goods, hardware and electronics’ stores. But this year’s Small Business Saturday promotion is unlikely to change the fortunes of independent shops in America, which have diverged dramatically from their larger rivals. Small retailers have been squeezed out throughout the pandemic and are…

Craft beer might get even more expensive

Your next can of craft beer might be a lot more expensive. Ball Corp., one of the world’s largest suppliers of aluminum cans, is sending shockwaves throughout the craft beer world after lifting the minimum number of cans certain producers must order and saying it will raise prices. Ball said it will now require that…

These major chains boomed as small retailers had to close up shop

Many Americans are shopping small Saturday to support mom-and-pop clothing, toy, furniture, sporting goods, hardware and electronics’ stores. But this year’s Small Business Saturday promotion is unlikely to change the fortunes of independent shops in America, which have diverged dramatically from their larger rivals. Small retailers have been squeezed out throughout the pandemic and are…

Black Friday bounces back from 2020. Shoppers hit stores again

Black Friday doesn’t carry the significance it once did for many US shoppers — blame the rise of online shopping holiday “Cyber Monday” and then Covid-19’s impact on retail. But customers are still dishing out more money for clothing, electronics and other items this Black Friday as they return to visit stores in person and…

Some Old Spice and Secret deodorants recalled after cancer-causing chemical is detected

Procter & Gamble Co. issued a recall for more than a dozen Old Spice and Secret-branded aerosol deodorants and sprays, warning that the products could contain benzene, a cancer-causing agent. The recall notice, published earlier this week, noted that the affected products likely will not expose people to levels of benzene high enough to cause…

Thanksgiving weekend offers a box office feast for kids and adults

This Thanksgiving weekend is offering a box office feast with two genres that have been lacking on the menu so far this year: family movies and non-franchise films aimed at adults. Disney’s “Encanto,” an animated film featuring music written by “Hamilton” creator Lin-Manuel Miranda, is expected to have a $35 million domestic opening over the…

SoftBank hit by report that China may force Didi to quit Wall Street

Shares of SoftBank plunged about 5% in Tokyo on Friday after Chinese regulators reportedly asked Didi to delist from the United States because of concerns about data security. The Japanese company’s Vision Fund is a major shareholder in the Chinese ride-hailing service with a stake of over 20%. SoftBank shares opened lower on Friday as…

Stocks and oil plunge as new Covid variant fears slam global markets

Stocks fell and oil prices plunged more than 10% on Friday as the emergence of a new Covid-19 variant rattled global markets. Asian markets led the way, with Hong Kong’s Hang Seng Index dropping 2.7%, while Japan’s Nikkei 225 was down 2.5%. European markets also sold off heavily, with major indexes including the FTSE100, France’s…

Indian farmers forced Modi to back down on new laws. So why aren’t they going home?

Santosh Singh’s earliest memory is of tilling soil on his family’s farm. Now, the 70-year-old farmer’s eyes gleam with pride as he recalls watching his grandson do the same. But Singh hasn’t been home to Punjab for one year since he joined farmers at one of three protest sites in the Indian capital to campaign…

This could finally be Sears’ and Kmart’s last holiday shopping season

This Black Friday could very likely be the start of the final holiday shopping season for Sears and Kmart, two brands that once proudly dominated the US retail landscape. The two chains are only a shell of what they were when the holding company that owns both emerged from bankruptcy less than three years ago.…

Ikea is offering a tiny apartment in Tokyo for less than $1 per month

Swedish retailer Ikea is becoming a landlord in Japan with a tiny apartment it will rent out in Tokyo. The 10-square-meter (107-square-foot) apartment is located in the Shinjuku district and will cost just 99 yen ($0.86) per month to rent, according to details released by Ikea this week. Only one unit is available, and it…

Country where 54 percent of adults drink alcohol once a week may run out of liquor for Christmas

Shops in the United Kingdom could run short of wine and liquor ahead of Christmas because there aren’t enough drivers to make deliveries. The warning was made in a letter sent by the UK Wine and Spirit Trade Association (WTSA) to UK Transport Secretary Grant Shapps last week. It was signed by 48 members of…

Germany is giving nearly two million workers a 25% pay rise

Almost 2 million workers in Europe’s biggest economy are set for a big pay rise. Three German political parties agreed to form a new government on Wednesday, with left-leaning Social Democrat Olaf Scholz set to succeed Angela Merkel as chancellor following lengthy coalition negotiations. As part of the coalition agreement, the country plans to raise…

This tax would make wealthy corporations pay their fair share

Corporate America has perfected the art of dodging the taxes that everyone else pays. From 2018 to 2020, 39 of the largest companies in America paid zero dollars in federal income taxes, despite reporting a combined $122 billion in profits, according to analysis from the Institute on Taxation and Economic Policy. And 73 others paid…

How to financially prepare to quit your job

Millions of Americans are leaving their jobs these days — and they don’t always have another one lined up. Whether it’s due to burnout, a desire for more flexibility or better pay, or the pursuit of an entirely different career, saying “I quit” can have long-term financial implications. “Before you leave, there are things you…

This startup wants you to like coffee-free coffee

Beyond Meat and Impossible Foods have persuaded customers to dig into cow-free burgers. Atomo Coffee wants to do the same for coffee. The startup, which launched in 2019 and offered a limited release to the public in September, makes a canned cold brew designed to taste like coffee and give you a boost of energy…

Turkey is going its own way on inflation. The lira is crashing

Turkey is plunging into a fresh currency crisis as investors dump the lira in response to the extraordinary decision by the country’s central bank to slash interest rates in the face of soaring inflation. The lira stabilized on Wednesday but suffered a huge fall against the US dollar on Tuesday. The lira fell more than…

Gap lost $300 million in sales because of supply chain mess

Gap said it lost $300 million in sales heading into the holiday season because of Covid-related factory closures, and backlogs at ports that significantly stalled its ability to get merchandise into stores on time. “While we had planned into the known supply chain constraints …. the shock to our business persisted longer than anticipated as…

Inflation isn’t going away. Here’s how to make money from it

Nobody in their right mind likes to pay higher prices for stuff. But if you’re an investor, there is a way to profit from inflationary trends — and it might be time to start adjusting your portfolio accordingly. Consumer staples giants like Coca-Cola and Pepsi can benefit from rising prices — as long as they…

Thanksgiving gas prices are the highest since 2012

Drivers hitting the road this Thanksgiving will be greeted by the highest prices at the pump in nearly a decade. The average prices consumers paid for regular gasoline stood at $3.40 a gallon on Monday, according to a new report from the government. That’s the highest price on the Monday before Thanksgiving since 2012, the…

Going to the store may be your smartest bet to navigate the supply chain crisis this holiday

The supply chain crisis means last-minute gift buyers may have little choice but to go shopping the old-fashioned way this holiday season. High demand, combined with supply chain delays, materials’ shortages and troubles hiring workers, are shrinking the availability of items both online and at stores. As customers get closer to the last minute, physical…

Jobless claims hit lowest level since 1969

Weekly claims for unemployment benefits finally fell below their pre-pandemic levels, according to data from the Labor Department. Last week’s jobless claims totaled 199,000 when adjusted for seasonal swings, the lowest level since November 15, 1969. Benefit claims jumped into the millions in March 2020 as the pandemic caused the US economy to shutter. Over…

A key measure of inflation rose to a 31-year high in October

US price surges eased in the third quarter of the year. But they climbed to a more than 30-year high in October — showing the pandemic price hikes are clearly not behind us yet. A deluge of economic data ahead of the Thanksgiving holiday highlights how the pandemic economy is still very much in flux.…

The global economy buckles up for another uncertain winter

Economists around the world are closely watching a resurgence of coronavirus cases across Europe for signs of what may be to come this winter. What’s happening: The spike in cases is feeding fears that the region’s strong economic recovery from the pandemic could be in jeopardy. So far, the new Covid-19 wave has had only…

John Deere posts record profit despite strike

John Deere posted record annual income Wednesday despite the recently concluded five-week worker strike, and it predicted another record year ahead. The Midwest farm and construction equipment maker posted annual net income of nearly $6 billion, more than double the $2.8 billion it earned a year earlier and easily clearing its previous fiscal year record…

India sows confusion with plan to ban ‘private cryptocurrencies’

India is flirting with a ban on cryptocurrencies. Prime Minister Narendra Modi’s government on Tuesday said that it is preparing to introduce a bill that would regulate digital currencies. There’s still much that’s unknown about the proposal. A cryptically worded description of the bill posted on the Indian parliament website outlined a plan to “prohibit…

Covid surge threatens Europe’s economic recovery

A resurgence of coronavirus cases across Europe is feeding fears that the region’s strong economic recovery from the pandemic could be jeopardized by another tough winter. So far, the new Covid-19 wave is having only a limited impact on business activity in the 19 countries that use the euro. The Purchasing Managers’ Index from IHS…

Jamie Dimon says he regrets joking about the Chinese Communist Party

Jamie Dimon is trying to take back a joke about China and its powerful political machine. Speaking at an event in Boston on Tuesday, the JPMorgan CEO said he “made a joke” during a recent trip to Hong Kong, referencing the ruling Chinese Communist Party’s 100th anniversary. “The Communist Party is celebrating its 100th year.…

A silent killer is choking India’s capital. For millions, there’s no choice but to breathe it in

Gulpreet Singh begs for food from a dirty hemp mat spread on the sidewalk outside Delhi’s South Campus metro station. Like millions of Indians who survive on handouts or daily wages, the 84-year-old says he has no choice but to be outside, breathing air thick with smog in the Indian capital. “I come here and…

Ohio jury finds pharmaceutical chains responsible in precedent-setting opioid suit

A jury in Ohio ruled Tuesday that three major pharmaceutical chains bore responsibility for the opioid epidemic in two Ohio counties. The civil case, brought in federal court against CVS, Walmart and Walgreens, marks the first time pharmacies have been found responsible in the nationwide epidemic. “It is a precedent setting case,” Mark Lanier, the…

Why Biden’s bid to lower gas prices is more of a Band-Aid than a game changer

For months, OPEC and its allies refused pleas from Washington and other world capitals to pump more oil. Now, a US-led coalition of consuming nations is coming together to effectively say: Fine, if you won’t act, we will. The White House announced Tuesday that India, Japan, South Korea and the United Kingdom are all joining…

Holiday travel is always a nightmare, but this year will be worse

The holiday travel season is off to a relatively smooth start, with good weather and few canceled flights. But many in the industry are worried that luck won’t hold all the way until the holiday season ends just after New Year’s. Major US airlines are operating with fewer pilots and flight attendants than they were…

Stores are closing on Thanksgiving, but thousands of retail staff are still working

Store workers at major US chains are getting to spend Thanksgiving at home as more retailers decide to close their doors for the holiday. But not all retail staff will get the day off. Target said Monday that it will close all of its stores on Thanksgiving every year from now on, a move that…

Best Buy CEO: Jump in theft is traumatizing staff

Best Buy CEO Corie Barry said theft is a growing problem at the company’s stores — and it is implementing added security measure to safeguard employees and shoppers. “This is traumatizing for our associates and is unacceptable,” Barry said on a call with analysts Tuesday. “We are doing everything we can to try to create…

Not just the supply chain: Going green is hiking prices, too

President Biden and Federal Reserve chair Jerome Powell are committed to fighting inflation. But the two may face an uphill battle bringing consumer prices down due to a factor that many experts may not be pricing into the economic picture: the rise of ESG investing. Investors have increasingly been looking to back companies that support…

China is joining the US and other countries in tapping emergency oil reserves

China confirmed on Wednesday that it would join the United States and other major energy-consuming nations in releasing strategic oil reserves to try to cool high prices and tame inflation. The White House announced Tuesday that the United States would release about 50 million barrels from its Strategic Petroleum Reserve, and that China, Japan, India,…

The surprising reason why Ocean Spray cranberry sauce labels are upside-down

Perhaps one of the greatest mysteries of Thanksgiving is the cranberry sauce — and we’re not talking about why people eat it: Why are the labels on Ocean Spray cans upside down? Observant consumers have noticed that the labels on jellied cranberry sauce cans are flipped, meaning the rounded edge that’s typically on the bottom…

Dollar Tree hikes prices 25%. Most items will cost $1.25

Dollar Tree will soon be $1.25 tree. The company — one of America’s last remaining true dollar stores — said Tuesday it will raise prices from $1 to $1.25 on the majority of its products by the first quarter of 2022. The change is a sign of the pressures low-cost retailers face holding down prices…

Breakfast is going to be more expensive next year

Expect to pay more for some of your favorite cereals, snacks, soups and cooking brands next year. General Mills notified retail customers that it’s raising prices in mid-January on hundreds of items across dozens of brands. They include Annie’s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charm’s, Wheaties, Reese’s Puffs,…

Jeff Bezos’ rocket company, Blue Origin, to send Michael Strahan to edge of space

Jeff Bezos’ rocket company, Blue Origin, announced that it would be launching Good Morning America host Michael Strahan to the edge of space. Strahan will be joined by the daughter of the first American astronaut and four paying customers. Liftoff is slated for 9:30 am CT on December 9 from Blue Origin launch facilities near…

This UK bank has moved to a four-day work week without cutting pay

A British bank has adopted a four-day work week for all its employees without cutting pay, saying it’s the largest UK company so far to make such a move. Atom Bank announced on Tuesday that it had also reduced the weekly hours of its 430 staff to 34 from 37.5 and expected most workers to…

Why Jay Powell’s second Fed term could be even tougher than his first

The news moves fast. Yesterday, we looked at whether President Joe Biden would reappoint Federal Reserve Chair Jerome Powell, one of the most powerful figures guiding the global economy. The answer came quickly. What’s happening: On Monday morning, Biden formally announced his intent to nominate Powell to a second four-year term, opting for continuity at…

Paytm is still struggling to convince investors after disastrous IPO

Paytm is starting to stage a recovery from its disastrous stock market debut last week, but the digital payments firm faces an uphill battle winning over investors worried about its ability to turn a profit in the face of growing competition. Shares of the Indian company — trading under the name of its parent, One97…

Tucker Carlson exalts Kyle Rittenhouse during first post-verdict interview: He’s a ‘sweet kid’

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The exalting of Kyle Rittenhouse reached new heights on Monday evening when Tucker Carlson used his top-rated Fox News prime time program to lavish even more praise on the teenager. Before airing his interview with…

At least 35 dead after heavy rain batters south India

At least 35 people have been killed and dozens more remain missing after heavy rains battered parts of southern India, destroying houses and flooding roads, officials said Monday. Flash floods triggered by consistent heavy rain killed at least 32 people in Andhra Pradesh, according to the state’s government. The rainfall began late last week, submerging…

Exclusive: House Democrats call for Biden to ban oil exports and tap emergency reserves

Nearly a dozen Congressional Democrats are urging President Joe Biden to combat high gas prices by not only releasing barrels from the US Strategic Petroleum Reserve but by banning US oil exports, according to a letter viewed by CNN. The letter sent Monday to Biden adds to the pressure the White House is facing even…

Tiffany is selling its most expensive piece of jewelry ever

Tiffany & Co. just unveiled its newest most-expensive bling ever. “The World’s Fair Necklace,” unveiled in Dubai on Sunday, features a stunning 180 carats of diamonds set in platinum. Its centerpiece is an 80-carat oval, flawless, D-color (highest grade and virtually colorless) “Empire Diamond,” named for the iconic jeweler’s hometown. The Empire Diamond was ethically…

U.N. warns of ‘colossal’ collapse of Afghan banking system

The United Nations on Monday pushed for urgent action to prop up Afghanistan’s banks, warning that a spike in people who are unable to repay loans as well as lower deposits and a cash liquidity crunch could cause the financial system to collapse within months. In a three-page report on Afghanistan’s banking and financial system…

How to avoid the world’s second biggest economy in your portfolio

The Chinese economy presents some unique challenges for investors. On one hand, China is home to several of the most dynamic and rapidly growing companies on the planet, such as electric car makers Xpeng and Nio as well as privately held TikTok owner ByteDance. But China’s recent crackdown on the tech sector has slowed earnings…

Rivian shares plunge after saying it won’t work with Ford on EVs

Shares of upstart electric truck maker Rivian plunged as much as 17% in morning trading Monday after confirming reports that it is no longer working with Ford to jointly develop vehicles. Both Ford and Rivian had already signaled they were moving away from earlier plans to work together on EVs. But the news first reported…

Hedge fund known for cutting journalism jobs is seeking to buy more newspapers

Alden Global Capital, a hedge fund known for gutting local newsrooms, is seeking to buy Lee Enterprises, a publicly traded company with a chain of daily newspapers and other publications that serves 77 markets. In a Monday letter to Lee’s shareholders, Alden proposed purchasing Lee for $24 per share, which it said represents a roughly…

Jeff Bezos donates $100 million to Obama foundation in honor of John Lewis

Amazon founder Jeff Bezos is donating $100 million to the Obama Foundation in honor of Congressman John Lewis, a hero of the U.S. civil rights movement of the 1960s who died last year, the foundation said on Monday. As part of the gift, Bezos has asked that the plaza at the Obama Presidential Center be…

Target says it will never open on Thanksgiving again

Say goodbye to Target runs on Thanksgiving. Target said Monday that it will close all of its stores on Thanksgiving every year from 2021 on. Target closed stores last year on Thanksgiving due to the pandemic and had previously announced it will close this Thanksgiving too. “What started as a temporary measure driven by the…

Jerome Powell’s first term was among the most controversial of any Fed chairman

Jerome Powell’s tenure leading the Federal Reserve has been among the most tumultuous in the central bank’s history. And Powell’s second term won’t necessarily be much easier. He and his policies have been the spotlight largely because of a once-in-a-century pandemic that caused the deepest economic downturn since the Great Depression — and though economic…

US home sales on track for the best year since 2006

Despite low inventory and rising prices, home sales inched higher in October, marking a second straight month of growth, according to a report from the National Association of Realtors. Sales of existing homes, which include single-family homes, townhomes, condominiums and co-ops, rose 0.8% month-over-month. After slowing during the summer, sales reignited in September, which saw…

Stock rally fizzles out despite relief over Powell’s second term at the Fed

Wall Street approved of President Joe Biden’s intention to nominate Jerome Powell for a second term at the helm of the Federal Reserve. But the initial jolt in the stock market didn’t last until the close. The market opened in the green and kept rising. But half-way through the session the Nasdaq Composite pared its…

Biden to nominate Jerome Powell as Federal Reserve chairman

President Joe Biden on Monday formally announced his intent to nominate Jerome Powell to serve as the chairman of the Federal Reserve for a second term and nominate Lael Brainard to serve as the Fed’s vice chair. Powell’s four-year term is up in February, and the President faced a key decision of whether to keep…

Could Fed Chair Jerome Powell be replaced?

When it comes to influence over the global economy, few people in the world are more powerful than Jerome Powell, chair of the US Federal Reserve. This week, investors may learn whether he’s tapped for another four-year term or out of a job. What’s happening: President Joe Biden is expected to announce his decision on…

China may have to juice its economy soon as ‘stagflation’ risk rises

A Chinese central official has warned that stagflation could weigh on an already struggling economy next year. It’s the latest sign that the government may be thinking about taking some aggressive steps to address slowing growth, including its first lending rate cut since early 2020. Liu Shijin, a member of the People’s Bank of China’s…

Jonah Goldberg and Stephen Hayes resign from Fox News, protesting ‘irresponsible’ voices like Tucker Carlson

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Every month or so, while conversing with sources at Fox News, I express surprise that Jonah Goldberg and Stephen Hayes are still employed by the network. After all, the two men are reality-based conservative thinkers…

Justin Bieber called on to cancel Saudi Arabia concert by slain journalist’s fiancée

The fiancée of murdered journalist Jamal Khashoggi wrote an open letter published by the Washington Post calling for Justin Bieber to cancel his upcoming concert in Saudi Arabia. “That’s why I am writing to you with a plea: Cancel your Dec. 5 performance in Saudi Arabia,” Hatice Cengiz wrote Saturday. “This is a unique opportunity…

Nikole Hannah-Jones: Anti-CRT coverage is a ‘propaganda campaign’

What began as a Pulitzer Prize-winning New York Times Magazine cover story, the 1619 Project has now produced two books: one for adults, “A New Origin Story” and a children’s book, “Born on the Water.” But even though the 1619 Project books were just released earlier this week, states such as Texas and Florida have…

‘Ghostbusters: Afterlife’ scares up a solid opening at the box office

In 1984, “Ghostbusters” became one of the most popular comedies in film history. Now, nearly four decades later, audiences answered the call at the ticket booth for a new sequel in the spooky franchise. “Ghostbusters: Afterlife” — which stars Paul Rudd, Mckenna Grace and Finn Wolfhard — took in an estimated $44 million at the…

Here’s why Gen Z is unionizing

Even among the generally youthful demographic of Starbucks workers unionizing in Buffalo, New York, 17-year-old Maya Panos is younger than most. In her short stint as a member of the labor market, the high school senior says she lost economic stability — Panos was laid off from her first job as a hostess due to…

Drive-thrus are all screwed up. Here’s what it’ll take to fix them

Late this summer, drive-thru times slowed by about 26 seconds compared to last year, according to a study. That may not seem like much — but in the world of fast food, every moment counts. “Mere seconds can be a make-it or break-it in terms of where a consumer decides to order from,” Amanda Topper,…

How hoarding saved Black Friday

For months, there have been warnings to shoppers: Get through your holiday to-do list early. Wait until Black Friday or later, and you may not be able to find what you want. But as stores prepare for the peak of the most important season for retailers, bigger companies are starting to send a different message:…

‘SNL’ has Judge Jeanine go over the Kyle Rittenhouse verdict and a chat with Donald Trump

There was a lot of news to cover from this week, and “Saturday Night Live” had its Judge Jeanine take it all on. The Fox News personality, who was played by Cecily Strong, opened Saturday night’s episode of the NBC variety show. “Good evening, I’m Judge Jeanine Pirro, and if anyone watching is wearing a…

She died from a snakebite. But the real killer was her husband

Uthra’s mother found her daughter lying motionless in bed at the family home, her left arm dotted with blood. Her family rushed her to the local Kollam hospital in the southern Indian state of Kerala, but the 25-year-old was already dead. A post-mortem on May 7, 2020, confirmed she’d been bitten hours earlier by a…

Fox’s Tucker Carlson gets exclusive access to Kyle Rittenhouse and his defense team during trial

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for it free right here. Just how mobilizing is Kyle Rittenhouse’s acquittal for right-wing media outlets? Take one look at the TV coverage to see. Fox’s biggest star, Tucker Carlson, secured exclusive access to Rittenhouse and members of his…

CVS had every advantage, but it lost the pandemic. Here’s what happened

CVS’ announcement Thursday that it will close 900 stores over the next three years — around 10% of its pharmacies — may have caught some shoppers off guard. Isn’t CVS doing really well right now? Haven’t lots of people gone to drug stores during the pandemic to stock up on hand sanitizer, cleaning wipes and…

Subway co-founder Peter Buck, who turned $1,000 into a billion, dies

Subway co-founder Peter Buck, who turned his initial investment of $1,000 into more than a billion dollars, died Thursday at the age of 90, the company confirmed. With more than 40,000 locations worldwide, Subway today is now the world’s largest submarine sandwich chain. Buck, the company’s last surviving founder, left a net worth of $1.7…

Here’s why gas is so cheap at Costco and Walmart

Gas prices are skyrocketing, and Americans want to save at the pump. That plays right into the hands of Costco, BJ’s Wholesale Club and Sam’s Club. The national gas price average jumped to $3.41 a gallon Friday, according to AAA, 61% higher than the average at the same time last year. The Biden administration has…

Phone glitch leaves some Tesla drivers locked out

One of the perks of owning a Tesla is using your smartphone as a key to open and drive your car. It does away with carrying a separate key fob in your pocket. But what if your smartphone app glitches? You could be stuck not being able to use your car, which seems to be…

Marriott rejected Uyghur conference to maintain ‘political neutrality’

The Marriott hotel in Prague refused to host a conference this month aimed at drawing attention to alleged human rights abuses in China, the hotel chain confirmed to CNN on Friday. The Prague Marriott cited “reasons of political neutrality” for its decision to decline to host the World Uyghur Congress, according to an email first…

Natalie Morales says goodbye to ‘Today’ after 22 years at NBC

Natalie Morales said farewell on Friday to her viewers and colleagues on “Today” after 22 years at NBC. Morales, who worked as an anchor for “Today” and correspondent for “Dateline NBC,” is leaving the network to join CBS as a host of its afternoon program, “The Talk.” On Friday, “Today” shared a touching farewell segment…

The supply chain is messing with the squishy golden dumpling everyone wants

An animated dumpling called “Dart,” with a shiny gold chrome body that pops out of its head when you squeeze its squishy cheeks, is creating quite a stir as parents scramble to score one of this year’s must-have toys. Dart belongs to a family of interactive dumplings from toymaker WowWee that hit stores in mid…

Hyundai and Kia are going big with upcoming electric vehicles

Hyundai and Kia look to be going big with their future electric SUVs. The South Korean automaker siblings both unveiled large electric SUV concept vehicles at the Los Angeles Auto Show on Wednesday that, both companies said, offer a preview of real future models. The Hyundai Seven concept has no steering wheel but a steering…

WTA threat to quit China over Peng Shuai’s disappearance puts Porsche and SAP in a bind

The threat by the Women’s Tennis Association (WTA) to quit China after one of its stars, Peng Shuai, disappeared from public view, leaves at least two global brands watching anxiously to see how this will play out. Peng, a two-time former Grand Slam doubles champion, has vanished from the public eye since she accused former…

Fleet operators want Teslas. But not ‘full self-driving’

Westport, Connecticut police chief Foti Koskinas would love it if his patrol cars could drive themselves, but his department isn’t buying Teslas equipped with “full self-driving.” Local governments like Westport and businesses big and small sing the benefits of electric vehicles like Teslas. Westport has saved thousands on fuel and maintenance since purchasing a Model…

Oil selloff intensifies on Covid fears and risk of US-China intervention

The oil market has gone from booming to busting, much to the relief of inflation-weary American drivers ahead of the Thanksgiving holiday. US crude tumbled as much as 3.5% on Friday, hitting a fresh six-week low of $76.17 a barrel. In just nine days, oil prices have sunk 10%. That’s good news for American drivers…

‘Ghostbusters: Afterlife’ hits theaters. Will audiences answer the call?

In 1984, a film about three New York City owners of an unconventional startup took the country by storm, leading people — young and old — to ask one simple question: “Who you gonna call?” That film was “Ghostbusters,” one of the most successful comedies of all time. Now, 37 years later, a new group…

CVS is closing 900 stores, and the big winner is Dollar General

CVS is heading in the wrong direction: Traditional pharmacies are on the decline, and America’s largest drug store chain plans to close about one in 10 of its outdated locations. One company is particularly primed to take advantage — and it’s not Walgreens or Rite Aid. Dollar General has rapidly expanded in the United States…

Two Senate Democrats urge Biden not to keep Jerome Powell at the helm of the Fed

Democratic Senators Sheldon Whitehouse and Jeff Merkley on Friday came out against to keeping Jerome Powell at the helm of the Federal Reserve due to what they see as his insufficient response to the climate crisis. The opposition further complicates the imminent decision by President Joe Biden on whether to renominate Powell four another four…

Macy’s stock, once left for dead, is roaring back to life

In spring 2020, in the depths of coronavirus lockdowns, investors couldn’t dump Macy’s stock fast enough. Shares fell as low as $4.38 apiece. That was then. On Thursday, Macy’s stock jumped 21% after the company reported better-than-expected earnings. That brought gains so far this year to more than 230%. A share now costs $37.37. What’s…

One week until Black Friday. Investors have already loaded up the shopping carts with retail stocks

It’s no secret that consumers love Amazon, Walmart and Target. But they are not the only retailers that bargain-hunting shoppers — or investors — are expected to flock to during the holidays. With Black Friday a week away, the SPDR S&P Retail ETF is up an astonishing 61% this year. That’s extraordinary, considering it does…

Alibaba shares plunge nearly 11% after warning of slower growth

Shares in Alibaba plummeted in Hong Kong on Friday after the tech giant warned of weaker growth this year as China’s economy slows and Beijing continues its regulatory crackdown. Alibaba dropped 10.7%, the steepest decline since its listing in the city in November 2019. The fall in Hong Kong followed a similar plunge Thursday in…

Press Freedom Awards ceremony stands up for journalists in ‘increasingly repressive world’

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. In the words of Committee to Protect Journalists executive director Joel Simon, “To practice journalism in the face of grave danger requires a profound sense of optimism and a sincere faith in humanity.” Those qualities…

India’s Prime Minister Modi to repeal controversial farm laws following more than a year of protests

India’s Prime Minister Narendra Modi said Friday he would repeal three contentious agricultural laws that sparked more than a year of protests, in a rare apparent climb down ahead of pivotal state elections. “Today I have come to tell you, the whole country, that we have decided to withdraw all three agricultural laws,” Modi said…

Hoffa critic elected to succeed him as Teamster president

Sean O’Brien will be the next president of the 1.4-million member Teamsters union, succeeding James Hoffa, the son of the union’s most famous leader who has led the union for 23 years. O’Brien, a fourth-generation member of the union, has been a harsh critic of Hoffa and the contract negotiated with UPS by his administration…

The ‘Great Migration’ during Covid may not have actually happened

The “Great Migration” may not be as pronounced as once thought. The US Census Bureau this week released data showing that migration activity has fallen to its lowest rate in more than 70 years. The findings toss some cold water on anecdotes that Americans were relocating more than ever during the pandemic. From 2020 to…

Shares of Sweetgreen soar following Wall Street debut

Wall Street is hungry for fancy salads. Sweetgreen’s stock nearly doubled in price mid-day Thursday, hours after the upscale salad chain made its Wall Street debut. The company set its price at $28 per share Wednesday, ahead of its initial public offering Thursday. The stock price jumped to about $54 at one point, and was…

A group of crypto investors tried to buy a copy of the Constitution. It didn’t work out

A group of cryptocurrency investors took the notion “We the people” from the US Constitution to the next level. They pooled money to try to buy a rare copy of the document — and they claimed to have raised $40 million to do so. But despite the huge amount of money raised, the group failed…

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