When Costco opened its first store in China in 2019, it wasn’t just the hot rotisserie chickens and discounted Birkin bags that lured frenzied crowds. A fiery, throat-tingling liquor called Kweichow Moutai also flew off shelves. At 1,498 yuan, or $209 for a half-liter bottle, it might not sound like the kind of bargain Costco…… MORE
Category Archives: CNN – Business
James Murdoch criticizes ‘media property owners’ who have ‘unleashed insidious’ forces with election denialism claims
James Murdoch, the youngest son of billionaire media mogul Rupert Murdoch, assailed “media property owners” and outlets that have promoted disinformation and conspiracy theories about the results of the 2020 election. Murdoch did not explicitly mention Fox News, which is controlled by his father and his brother Lachlan Murdoch. But it was clear that, even…… MORE
NRA files for bankruptcy
The National Rifle Association of America, the nation’s foremost gun lobby, has filed for voluntary bankruptcy in Texas, the organization said Friday. The group said it plans to leave New York and reincorporate as a Texas nonprofit, in an move it is calling “Project Freedom.” The NRA said it’s in its “strongest financial condition in…… MORE
Fast food workers go on strike in honor of Martin Luther King Jr.
An estimated 1,000 fast food workers across the United States went on strike Friday over low wages, staging protests in honor of Martin Luther King Jr. ahead of the federal holiday next week. The demonstrations were set to take place in more than 15 cities, including Atlanta, Chicago, St. Louis and Los Angeles. The strike…… MORE
Oil giant splits from powerful lobbying group over climate change
The American Petroleum Institute, the nation’s largest and most powerful oil lobby, is losing one of its biggest members over a disagreement about addressing the climate crisis. France’s Total announced Friday it is quitting the API because of the lobby’s stances on regulation and carbon pricing as well as its support for politicians who oppose…… MORE
Wikileaks asks reporters for help in desperate bid to score Julian Assange last-minute pardon
In a last-minute bid to persuade President Donald Trump to pardon Julian Assange, Wikileaks has reached out to several high-profile reporters asking for help in its efforts to rescue its founder from potential life in prison. The messages sent to reporters over Twitter direct message said that Assange’s partner, Stella Moris, had directed Wikileaks to…… MORE
Vaccination megasites pop up in empty malls
Now that Covid-19 vaccination efforts are ramping up, local health officials are on the hunt for locations that can quickly be converted into vaccination clinics, and malls across the country, battered by declines in in-person shopping, are starting to play a role. Mall operators are sitting on plenty of abandoned retail space that might be…… MORE
The online shopping exec Walmart hired to take on Amazon is leaving
The executive hired to help boost Walmart’s e-commerce business to compete with Amazon is leaving the company. Marc Lore, who joined the company in 2016 after selling his online startup Jet.com to Walmart, is retiring at the end of January, the company announced Friday. Lore, the chief executive of Walmart’s US e-commerce arm, initially led…… MORE
Lawmakers ask travel companies to step up security ahead of inauguration
US lawmakers are asking for help from travel companies including bus operators, car rental companies and hotels to prevent an attack on the inauguration and investigate last week’s Capitol insurrection. Washington, DC, and states across the country are heightening security and preparing reinforcements this week ahead of potential armed protests from Saturday until at least…… MORE
JPMorgan Chase just reported a record quarterly profit. But its CEO is still nervous
The economy may not have fully recovered yet, but that’s no problem for America’s biggest bank. JPMorgan Chase reported a record profit of $12.1 billion for the fourth quarter Friday — easily topping Wall Streets forecasts. Still, JPMorgan Chase CEO Jamie Dimon still sounded a bit nervous about the near-term economic outlook, citing the lingering…… MORE
