Category Archives: CNN – Business

Expect fewer gifts this holiday season

Shoppers expect to pull back on purchasing gifts for their families and friends this holiday season, and that may not bode well for retailers. More than a quarter of Americans — 28% — say they will spend less on holiday gifts this year compared to last year, Gallup said in a new poll released Tuesday.…MORE

HSBC plans to speed up restructuring as profits drop 36%

HSBC plans to speed up restructuring as profits drop 36%

HSBC is speeding up its mammoth restructuring plan as the bank continues to grapple with ongoing headaches, from ultra-low interest rates and geopolitical tensions to the economic impact of the coronavirus pandemic. The London-based lender said Tuesday that revenue fell 11% in the third quarter compared to the same period the year before. Pre-tax profit…MORE

‘King of the coal’ Robert Murray dies at the age of 80

‘King of the coal’ Robert Murray dies at the age of 80

Robert “Bob” Murray, known in the industry as the king of coal, died due to complications from lung disease early Sunday morning surrounded by his family in the Ohio Valley, his lawyer Michael Shaheen told CNN. Murray was diagnosed with idiopathic pulmonary fibrosis, or coal miner pneumoconiosis, in July 2016 and had been battling the…MORE

Charles Schwab plans to lay off 1,000 employees following TD Ameritrade merger

Charles Schwab plans to lay off 1,000 employees following TD Ameritrade merger

Charles Schwab said Monday that it is laying off 1,000 employees just weeks after completing its acquisition of TD Ameritrade. The job cuts are part of efforts to “reduce overlapping or redundant roles” across both firms, the company said. “We have begun notifying individuals that their roles have been eliminated and they will be leaving…MORE

Toy companies are cutting back on plastic to reduce waste

Toy companies are cutting back on plastic to reduce waste

Many large toy companies are trying to become more eco-friendly after decades of relying on environmentally destructive plastic in their products and packaging. The pandemic has created an unanticipated surge in demand for toys as parents have hunkered down with children at home, and holiday toy sales are expected to be huge this year. Finding…MORE

Stocks tumble as Covid-19 cases surge and stimulus is nowhere to be found

Stocks tumble as Covid-19 cases surge and stimulus is nowhere to be found

US stocks tumbled at Monday’s opening bell, as coronavirus, Washington intransigence and earnings are weighing on the market. The election is only eight days away, there’s still no new stimulus package and the first look at how the economy fared in the third quarter will be reported on Thursday. Big Tech companies will report earnings…MORE