Category Archives: CNN – Business

Disney World sets reopening date

Disney World is reopening its gates, ending a multi-month closure of the park which left the Walt Disney Company reeling. The Disney theme park, which employs some 70,000 people, plans to begin a phased reopening on July 11 for its Magic Kingdom parks and July 15 for EPCOT and Hollywood Studios, the company said on…MORE

Tuesday Morning files for bankruptcy and will close 230 stores

Tuesday Morning files for bankruptcy and will close 230 stores

Discount home goods retailer Tuesday Morning filed for bankruptcy, blaming Covid-19 for prolonged store closures that caused an “insurmountable financial hurdle.” The Dallas-based chain said Wednesday it will permanently close approximately 230 of its nearly 700 US stores in cities where “too many locations are in close proximity.” The first phase of closures, which includes…MORE

EU plans to raise $825 billion to aid recovery from the coronavirus recession

EU plans to raise $825 billion to aid recovery from the coronavirus recession

The European Commission has proposed giving hundreds of billions of euros to EU countries that have seen their economies devastated by the coronavirus pandemic, a massive relief effort designed to ensure parts of the bloc aren’t left behind when the recovery comes. The executive arm of the European Union unveiled a plan on Wednesday that…MORE

GE is saying goodbye to its 129-year-old light bulb business

GE is saying goodbye to its 129-year-old light bulb business

General Electric is saying goodbye to the light bulb. The conglomerate is shedding a struggling business founded by Thomas Edison more than a century ago. After years of failing to find a buyer, GE announced Wednesday it will sell its 129-year-old lighting division to smart home company Savant Systems. The deal marks the latest step…MORE

Hong Kong’s richest man Li Ka-shing defends China’s plans for security law

Hong Kong’s richest man Li Ka-shing defends China’s plans for security law

Hong Kong’s richest man has defended China’s plan to introduce a national security law in the semi-autonomous city, a move that has reignited mass protests and renewed questions about the future of the global business hub. Billionaire tycoon Li Ka-shing said in a statement Wednesday that “it is within each and every nation’s [sovereign] right…MORE

Ford’s police SUVs will heat up to 133 degrees to burn the germs away

Ford’s police SUVs will heat up to 133 degrees to burn the germs away

The ongoing spread of coronavirus has made disinfecting police vehicles a major issue. After the New York City Police Department asked for a better way to sanitize its vehicles, Ford created software that will burn the germs out of the police department’s SUVs, the company announced Wednesday. With the new software, the Ford Police Utility…MORE

The recovery is underway in some places. How strong is it?

Easing lockdowns have created euphoria in markets as investors show increasing confidence that the worst of the economic damage from the coronavirus is behind us. See here: The S&P 500 finished 1.2% higher on Tuesday and is now within striking distance of 3,000 points. The index has been below that level since early March. High…MORE

Chinese state TV breached UK media rules over Hong Kong protests

Chinese state-owned television broadcaster CGTN repeatedly breached impartiality standards with its coverage of protests last year in Hong Kong, UK media regulator Ofcom has ruled. Ofcom said Tuesday that CGTN broke its rules in five separate broadcasts, giving disproportionate weight to the positions of government authorities in Hong Kong and China while not exploring the…MORE