Category Archives: CNN – Business

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

Sizzler, one of America’s first steakhouse chains, files for bankruptcy

Sizzler USA, one of the country’s first casual restaurant chains, has filed for bankruptcy. The 62-year-old company said it filed for Chapter 11 because of Covid-19, which forced it to temporarily close its restaurants’ dining rooms. Sizzler USA also had problems paying rent. The filing is only for Sizzler’s 14 company-owned restaurants — not its…MORE

Why Tesla’s Battery Day is a big event for investors

Why Tesla’s Battery Day is a big event for investors

The meteoric rise of Tesla’s stock has been one of the market’s top stories of 2020, highlighting a voracious appetite for high-growth companies that could benefit from a shift away from fossil fuels. But for Tesla to maintain its edge in the increasingly competitive world of electric vehicle production, it will need to keep innovating.…MORE

Chipotle brings back its most popular new menu item

Chipotle brings back its most popular new menu item

Chipotle is bringing carne asada back to its menu following a half-year hiatus. The marinated steak option, which appeared on Chipotle’s menu for about four months starting in September 2019, will once again be available in the United States for a limited time. Carne asada was so popular with customers that the chain ran out…MORE

Coronavirus cancels pumpkin spice at this restaurant chain

Coronavirus cancels pumpkin spice at this restaurant chain

It seems even pumpkin spice isn’t safe from the coronavirus. The restaurant chain Einstein Bros. Bagels is the latest victim of the pandemic. This fall, they will not be offering any pumpkin spice seasonal items. “Unfortunately we will not be offering pumpkin products this year,” Einstein Bros said in a statement to CNN. “With COVID-19,…MORE

GE is getting out of the coal power business

GE is getting out of the coal power business

General Electric is one of the world’s largest makers of coal-fired power plants. But now it plans to say goodbye to coal. Struggling GE announced Monday it won’t build new coal-fueled power plants, making it the latest major company to dump coal in an exit that may include asset sales, site closures and layoffs. The…MORE

These 63 Bed Bath & Beyond stores are set to close by the end of 2020

These 63 Bed Bath & Beyond stores are set to close by the end of 2020

Bed Bath & Beyond has announced the first 63 stores it will close by the end of the year as part of a restructuring plan brought on by Covid-19. USA Today first reported the closures. The news comes after the retailer announced in July that it would close roughly 200 stores, mainly Bed Bath &…MORE

Why the loss of RBG could hurt the fragile economic recovery

Why the loss of RBG could hurt the fragile economic recovery

Just when you thought 2020 couldn’t get any more chaotic, the death of Supreme Court Justice Ruth Bader Ginsburg set off a political earthquake that could rattle the fragile economic recovery. At a minimum, the loss of RBG is yet another wild card for investors, CEOs, small business owners and consumers already challenged by enormous…MORE

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