Business

Nigerians are recreating the distinctive signature style of new World Trade Organization boss Ngozi Okonjo-Iweala to celebrate her confirmation for the role. The former Nigeria Finance Minister was appointed by the WTO on Monday. She is the first woman and African to lead the global trade body. To honor this feat, Nigerians are donning her signature look: a full outfit and

A Black McDonald’s franchise operator has filed a lawsuit against the company, alleging that it steered him toward less profitable restaurants in lower-income, predominantly Black neighborhoods because of his race. Retired Major League Baseball player Herbert Washington, who currently operates 14 McDonald’s restaurants, filed the civil suit in Ohio on Tuesday. Washington’s allegations are similar

Europe is now trading more goods with China than the United States, a sign of how the pandemic is transforming the global economy. Data released this week by the European Union’s statistics service attributed the shift to a 5.6% increase in imports from China in 2020 and a 2.2% increase in exports. Meanwhile, there was

Applebee’s is launching a new online-only brand. The main menu item? Cheeto-flavored wings. Customers can start ordering from Cosmic Wings, which is available through Uber Eats, on Wednesday. On the menu: wings with two exclusive Cheetos sauces, original and Flamin’ Hot, plus cheese bites, chicken tender dippers, waffle fries and onion rings. The brand will

Hedge fund Alden Global Capital will acquire the rest of what it does not already own of Tribune Publishing, owner of the Chicago Tribune, the New York Daily News and other local newspapers, in a deal valued at $630 million. The Chicago Tribune was first to report the news of the merger agreement. The acquisition

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “Gut punch.” That’s what Daniela Altimari wrote in reaction to Tuesday’s news that Alden Global Capital, a widely feared hedge fund, is buying the rest of Tribune Publishing and taking the newspaper owner private. Altimari

Investors have been dumping shares in Chinese drone maker EHang, after a short-seller accused the US-listed company of fraud. Shares of the Nasdaq-listed firm plummeted nearly 63% in New York on Tuesday after Wolfpack Research released a scathing, detailed report questioning EHang’s business. The stock trimmed its losses Wednesday, bouncing 35% higher to about $62

On Thursday, the US House Financial Services Committee will grill the chief executives of Robinhood and other companies involved in last month’s GameStop stock rally. The hearing is being driven by concerns in Washington about the fundamental fairness of the modern market. The trading frenzy shined a bright light on the free trading boom set

Wendy’s is heating up the fried chicken sandwich wars — quite literally this time. The newest entrant into the poultry clash is a Jalapeño Popper Sandwich, a spicy spin on the classic. The $5.99 sandwich, which was released Wednesday, is covered in jalapeños including in a flavored cream cheese spread plus six slices of the

Investors are dumping shares in Chinese drone maker EHang, after a short-seller accused the US-listed company of fraud. Shares of the Nasdaq-listed firm plummeted nearly 63% in New York on Tuesday after Wolfpack Research released a scathing, detailed report questioning EHang’s business. EHang has slammed the report as “deceptive.” In a statement Tuesday, the company

Applebee’s is launching a new online-only brand. The main menu item? Cheeto-flavored wings. Customers can start ordering from Cosmic Wings, which is available through Uber Eats, on Wednesday. On the menu: wings with two exclusive Cheetos sauces, original and Flamin’ Hot, plus cheese bites, chicken tender dippers, waffle fries and onion rings. The brand will

Americans are spending less on their credit cards since the pandemic started. But, unlike other economic data points that are inching towards recovery, such as retail sales or the unemployment rate, credit card spending remains in decline. Consumer spending is the backbone of the US economy and accounts for some two-thirds of economic activity. So

Retail sales increased sharply last month, the Commerce Department said Wednesday, beating economists’ expectations and marking their first increase since September. Sales grew 5.3% in January from the prior month on a seasonally adjusted basis. That’s the largest monthly increase since June, when the sector was rebounding from the spring’s pandemic lockdown. America’s economy runs

After committing one of the “biggest blunders in banking history,” Citibank won’t be allowed to recover the almost half a billion dollars it accidentally wired to Revlon’s lenders, a US District Court judge ruled. Citibank, which was acting as Revlon’s loan agent, meant to send about $8 million in interest payments to the cosmetic company’s

CNN is making a series of programming changes in April, starting with a move to the mornings by Brianna Keilar. The new schedule was announced on Wednesday morning. Keilar, who currently anchors from 1 to 3 p.m. Eastern, will join John Berman on the network’s flagship morning show, “New Day.” Weekend anchor Ana Cabrera will

Many investors are increasingly hesitant to hold shares of oil and gas companies as a global energy transition gathers steam. Not Warren Buffett. What’s happening: Buffett’s Berkshire Hathaway just disclosed a new stake in Chevron, the second largest oil firm in the United States. The $4.1 billion investment could have been spearheaded by Berkshire investment

Burger King doesn’t want to come out a loser in fast food’s chicken sandwich wars. So it’s planning an upgrade. The chain said Wednesday that it is replacing its current crispy chicken sandwich with a new, hand-breaded version. The new product, which comes in original or spicy, is made with a savory signature sauce and

Nestlé will sell its North American bottled water business, including Poland Spring, Deer Park, Ozarka and Arrowhead, in a $4.3 billion deal as it focuses on its premium brands. The Swiss consumer goods giant said in a statement on Wednesday that it has agreed to sell the brands to private equity firm One Rock Capital