About the only thing that hasn’t been hurt by the hacking attack that shut down the Colonial Pipeline? The company’s market value. If it were publicly traded, the Colonial’s stock would undoubtedly have tumbled. But the 59-year-old firm is privately held, with its ownership split among five owners spread across five countries on four continents.
Continue ReadingKentucky Fried Chicken is rolling out new packaging this summer, joining other major fast food companies that are giving themselves a makeover. The chicken chain said the new look is a “more modern take” on the KFC’s signature red and white colors. Colonel Sanders’ head will still adorn the buckets, sandwich wrappers and cups, but
Continue ReadingHackers are holding one of America’s most important pipelines hostage, a stunning development that should serve as a warning to even bigger targets: the nation’s financial industry. The nightmare scenario is that a Colonial Pipeline-style ransomware attack disrupts major banks or even financial markets, dealing a blow to the flow of money and confidence in
Continue ReadingThe supply chain shortage just got fowl: Chick-fil-A is limiting the number of sauces it’s giving out to customers because of limited stock. The chicken chain said Wednesday that industry-wide supply chain issues, which are affecting essentially every aspect of the economy, has resulted in a “shortage of select items” that Chick-fil-A serves, including sauces.
Continue ReadingA devastating ransomware attack on a critical fuel pipeline in the United States has highlighted the growing threat that cyber criminals pose to the world’s largest corporations and strategic infrastructure. It also raises a thorny question: should companies held to ransom yield to extortionists or resist making payments? Often it’s a choice between regaining access
Continue ReadingChickens are in short supply. Part of the blame goes to Tyson’s roosters. The meat processor, which sells poultry along with beef and pork, said that its chicken volumes have been low in part because the roosters it uses for breeding are not meeting expectations. “We’re changing out a male that, quite frankly, we made
Continue ReadingJust about everything is getting more expensive in the United States as the stimulus-fueled economy rebounds and Americans are again spending on shopping, traveling and eating out. But the pandemic is far from over, and supply-chain woes mean supply isn’t meeting demand — sending prices even higher. Nearly all major components of the government’s inflation
Continue ReadingWe’ve all missed live concerts, weekend getaways and long vacations in the sun. Finally, thanks to coronavirus vaccination campaigns, such activities seem possible again, encouraging investors to pile into travel and entertainment stocks. But a closer look at what many of these companies are saying shows that 2022, and not 2021, may be where most
Continue ReadingMore people are refreshing their wardrobes at department stores again as they head back into restaurants and offices. That’s great news for stores like Macy’s, Nordstrom and Kohl’s— but the comeback is probably fleeting. Top department store chains say they are benefiting from built-up demand among consumers after a year in which many shoppers stayed
Continue ReadingChina is growing fast — but the workforce powering its economic rise is shrinking. Census data released Tuesday showed that China’s total population rose by 5.8% over the past decade — the slowest pace of growth since at least the 1960s. It also showed the country’s labor force is getting smaller. The number of people
Continue ReadingTesla’s recent run of bad publicity in China is apparently hurting its sales there, raising investor concerns. The electric car leader sold fewer than 26,000 cars in China in April, down 27% from March, according to figures released by the China Passenger Car Association. The drop came as Chinese electric vehicle manufacturers such as Nio,
Continue ReadingThe UK economy is coming out of its deep freeze. Gross domestic product shrunk by 1.5% in the first quarter, according to the Office for National Statistics, a better than expected performance that was helped by a surge in activity in March as coronavirus restrictions were eased slightly. The lifting of the remaining restrictions is
Continue ReadingIBM is on a tear under the leadership of new CEO Arvind Krishna: It created the world’s smallest microchip and Tuesday it announced new AI capabilities at its annual Think event. The company is also a prominent voice in the fight against hackers — like the ones that took down the Colonial Pipeline over the
Continue ReadingMore than 40% of expats surveyed by the American Chamber of Commerce in Hong Kong say they’re considering moving away from the former British colony as China’s influence grows and the city continues to enforce stringent quarantine rules. In a report released on Wednesday, the largest international chamber in Hong Kong found that 42% of
Continue ReadingChina is growing fast — but the workforce powering its economic rise is shrinking. Census data released Tuesday showed that China’s total population rose by 5.8% over the past decade — the slowest pace of growth since at least the 1960s. It also showed the country’s labor force is getting smaller. The number of people
Continue ReadingA version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Sally Buzbee will be The Washington Post’s first woman executive editor. Buzbee was appointed on Tuesday, and she will take charge on June 1. Buzbee is, of course, defined by so much more than her
Continue ReadingA growing number of gas stations along the East Coast are without fuel as nervous drivers aggressively fill up their tanks following a ransomware attack that shut down the Colonial Pipeline, a critical artery for gasoline. The panic-buying threatens to exacerbate the supply shock. As of 9 pm ET Tuesday, 12.3% of gas stations in
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Oregon lawmakers have passed a bill that gives tenants who are struggling with financial hardships due to the pandemic more time to pay past-due rent.
Continue ReadingRestaurants are struggling to hire workers, so some, including Chipotle, are trying to sweeten the pot with higher pay and bigger career opportunities. Chipotle is increasing the pay of its restaurant workers to an average of $15 per hour, the chain announced Monday. Some employees will become eligible to make a six-figure salary after just
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The Oregon Employment Department on Tuesday launched the Mixed Earner Unemployment Compensation program, a temporary federal program to provide another $100 a week in benefits to “hybrid workers,” or people who have earned W-2 wages and self-employment income.
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