Business

The market for new stocks continues to sizzle — with no signs of a slowdown for initial public offerings or special purpose acquisition company mergers. Dating app Bumble enjoyed a strong debut, gaining nearly 65% in its IPO last week. Online commerce companies Affirm and Poshmark also did well after their IPOs in January. The

An Australian employee of China’s state broadcaster CGTN has been arrested on suspicion of “illegally supplying state secrets overseas,” Canberra said Monday. In a statement, Australian Foreign Minister Marise Payne said Cheng Lei, who has been detained in China since August 13, 2020, had been formally arrested on February 5. “Chinese authorities have advised that

Kroger will close two stores in Seattle over the city’s $4-an-hour hazard pay requirement for grocery workers, an escalation of the grocery chain’s push against newly-passed hazard pay laws growing on the West Coast. The company, the largest grocery chain in the United States, will close two of its QFC stores in April in response

Congressional hearings often involve a lot of grandstanding. But as the House Financial Services Committee prepares to grill major players in the GameStop saga that shocked investors last month, there are still some big questions that need answers. What’s happening: Robinhood CEO Vlad Tenev, Citadel CEO Ken Griffin, Melvin Capital CEO Gabe Plotkin, Reddit CEO

McDonald’s will tie executive pay to diversity goals and aim to hit gender parity in management by the end of 2030 as the company tries to overhaul its workplace culture. CEO Chris Kempczinski described the new goals in a letter sent to employees Thursday. The company aims to increase the percentage of women in the

A group of businesses and nonprofit organizations are banding together to speed up and strengthen their companies’ response to the pandemic. Five groups, including the Ad Council, CDC Foundation and the Business Roundtable, announced Thursday they are forming a new partnership called the Health Action Alliance. Its aim is to assist businesses of all sizes

Congresswoman Maxine Waters plans to thoroughly investigate the GameStop trading frenzy by holding multiple hearings on the matter. Waters, the chairwoman of the powerful House Financial Services Committee, told CNN Business she will likely hold three hearings, with the first one occurring Thursday. Subsequent hearings could focus on expert testimony and potential legislation, Waters said.

Upon hearing about Rush Limbaugh’s death on Wednesday, many fans said he was irreplaceable. For the time being, his distributor is not going to try. “Rush’s voice will continue to be heard, providing comfort and continued insight to his legions of loyal fans,” Premiere Networks said in a statement obtained by CNN Business. Premiere Networks

Grocery store workers in the United States have been stocking shelves, handling customers and keeping stores tidy in challenging and sometimes dangerous pandemic conditions for almost a year. But a vaccine that once offered these essential workers hope for their safety remains elusive for most. Although coronavirus risks are high and new variants of the

Walmart announced pay bumps Thursday that will bring its average hourly wage to over $15 an hour. But the move still falls short of the $15 minimum wage announced by some of its largest competitors. Walmart, America’s largest private employer, said it will raise wages for 425,000 US workers — more than a fourth of

South Australian winemaker Jarrad White spent almost a decade building his business in China. Then, in a matter of months, it all fell apart. It had nothing to do with the quality of White’s wines at his vineyard in McLaren Vale, one of South Australia’s premier winegrowing regions. Instead, it was the result of months

Another 861,000 workers filed for unemployment benefits for the first time last week, according to seasonally adjusted data released Thursday from the Labor Department. It was nearly 100,000 claims more than economists had predicted, as well as an increase from the week before — which was also revised higher. America’s jobs recovery has really lost

The mania that drove the recent GameStop stock rally should remind all investors of the need to stay diversified. It’s simply not wise to put all your eggs in one basket, whether what’s in that basket is filled with ultra-safe municipal bonds or high volatility cryptocurrency. Shares of GameStop are still up nearly 150% this

Maersk says it will launch the world’s first carbon neutral cargo ship in 2023, as efforts to clean up one of the planet’s worst polluting industries gain momentum. The world’s largest container shipping company said in a statement on Wednesday that the vessel will operate on methanol produced from renewable sources or sustainable biomass. It

People in Australia can no longer find news on Facebook. Facebook said Wednesday that people and publishers in Australia cannot share and view news from local and international outlets. The announcement is a response to proposed legislation in Australia that would force tech platforms to pay news publishers for content. “What the proposed law introduced

The brutal winter storm in the United States is disrupting business across a range of industries, including many sectors that are still trying to recover from the pandemic. Widespread outages, particularly in Texas, have left millions of residents without power in frigid temperatures for a third day. At least 26 people have died. The storm

This was supposed to be the year Robinhood turned the page on its troubles and launched a massive IPO. And then GameStop mania happened. Robinhood ignited a firestorm last month when the free trading app suspended purchases of GameStop, AMC and other stocks that were sent to the moon by an army of traders on