Category Archives: CNN – Business

Chipotle wants to give workers an extra month of pay

Chipotle is cutting through a tight labor market with a new incentive: An extra month’s worth of pay. The offer is part of a new bonus program for hourly employees at its restaurants, which Chipotle announced Tuesday. The program puts Chipotle “at the forefront of the industry for attracting and retaining top talent to ensure…MORE

Pizza Hut brings back its retro logo

Pizza Hut wants to return to its winning ways. So it’s rebooting the logo from when it dominated the American pizza market. The pizza chain is replacing its current round logo with a retro logo that hasn’t been used in two decades, the company said. Compared to its current logo, the old version features its…MORE

Startup bank Aspiration is trying to be the anti-Wells Fargo. It’s working

An online bank backed by Leonardo DiCaprio is luring hundreds of thousands of Wells Fargo’s customers by promising to be the opposite of the scandal-tarred big bank. Aspiration is specifically marketing itself as an alternative to dissatisfied Wells Fargo customers. The California startup has a website urging customers to “switch banks from Wells Fargo” to…MORE

Boeing and Airbus made huge mistakes, but their dominance is under no threat

Boeing and Airbus dominate aviation like precious few duos dominate their industries. That’s why both plane makers will probably weather their recent multi-billion dollar mistakes. Boeing’s problem is the tragedy of two fatal crashes involving its bestselling passenger jet, the 737 Max. It has led to a global grounding of the plane, a halt in…MORE

How low can bond yields go?

The market thinks it’s a lock that the Federal Reserve will cut interest rates at its next meeting at the end of July. The cut is expected largely because of concerns that the global economy is slowing in the midst of the US trade war with China and other countries. In fact, investors are even…MORE

AbbVie to buy Allergan in a $63 billion drug deal

AbbVie announced it will buy Allergan for $63 billion, combining the companies behind Humira and Botox and creating yet another pharmaceutical behemoth. Allergan, with 2018 revenue of $15.8 billion, focuses on medical aesthetics, eye care, central nervous system disorders and gastroenterology. Its most famous drug is Botox, which is used to treat muscle spasms and…MORE

Dow and S&P 500 record worst day in nearly a month

The Dow and the S&P 500 had their worst day in nearly a month on Tuesday as stocks dropped across the board. The Dow finished 0.7%, or 179 points, lower, while the S&P 500 closed 0.9% lower. It was the worst one-day percentage drop for both benchmarks since May 31, according to Refinitiv. The Nasdaq…MORE

Christine Romans: Stocks need a reason to hit record highs

Stocks are so close to record highs and searching for a reason to break through. The Dow is just 99 points shy of a closing high in an environment swirling with conflicting catalysts. The core economy and jobs market appear strong, but signs of slowing in manufacturing and labor are driving interest rates lower. President…MORE

Monzo doubles its value to $2.5 billion ahead of US launch

Monzo, the popular UK banking app, has boosted its financial firepower as it prepares for a US launch. The company said Tuesday that it has raised £113 million ($144 million) from new and existing investors, led by influential US startup accelerator Y Combinator. Other investors in Monzo include Joshua Kushner’s Thrive Capital and payments company…MORE

Most drivers say safety tech has saved them from crashes

Most drivers with advanced auto safety technologies in their cars say the features have helped keep them out of crashes, according to a new survey from Consumer Reports. About 57% of respondents said features like automatic emergency braking, blind spot warning and lane keeping assistance have helped prevent collisions. The responses covered about 72,000 vehicles…MORE