Category Archives: CNN Business

Fox News staffers thought Newsmax was a joke. But they’re not laughing anymore

Fox News staffers thought Newsmax was a joke. But they’re not laughing anymore

Fox News is taking action to stave off newfound competition from Newsmax TV. Producers on some Fox programs have been told to monitor Newsmax’s guest bookings and throw some sand in Newsmax’s gears by encouraging guests who appear on both channels to stop saying yes to the upstart. According to Fox sources, producers were told…MORE

How Cholula plans to get more Americans hooked on its hot sauce

How Cholula plans to get more Americans hooked on its hot sauce

For the $800 million it’s spending to buy it, Cholula’s new owner needs it to punch above its weight. Right now the hot sauce, which is being acquired by spice maker McCormick, can only be found in about 4% of US households. But it appeals to a coveted demographic — the college-educated Millennial who has…MORE

Britain’s final Brexit choice could prolong the worst recession in 300 years

Britain’s final Brexit choice could prolong the worst recession in 300 years

The UK economy is suffering its worst recession in more than 300 years and failing to secure a new trade deal with the European Union will make its recovery even longer and more arduous, according to the country’s independent fiscal watchdog. The Office for Budget Responsibility said on Wednesday that a no-deal Brexit would reduce…MORE

Simon & Schuster sold to Penguin Random House

Simon & Schuster sold to Penguin Random House

Two of the biggest publishing houses in the US will soon be under one roof. ViacomCBS announced Wednesday it will sell Simon & Schuster to Penguin Random House, which is a subsidiary of German media giant Bertelsmann, for $2.175 billion in cash. The deal is expected to close next year and subject to regulatory approval.…MORE

Another 778,000 Americans filed first-time unemployment claims last week

Another 778,000 Americans filed first-time unemployment claims last week

The recovery in the American job market is still painfully slow. Another 778,000 people filed for first-time unemployment benefits last week on a seasonally adjusted basis. That was more than the 735,000 initial jobless claims that economists were expecting, and it’s also higher than last week’s revised number of 748,000. It’s the second straight week…MORE

Dow 30,000: How the market rally defied a pandemic

Dow 30,000: How the market rally defied a pandemic

Markets have reached a new milestone in the middle of a bruising pandemic, another sign that investors have been more than willing to look past short-term pain toward better days ahead. What’s happening: The Dow topped 30,000 points on Tuesday for the first time ever, a symbolic win for the market bulls that have bet…MORE

Global stocks press pause after Wall Street extends its huge rally

Global stocks press pause after Wall Street extends its huge rally

Global stocks were mixed on Wednesday after the Dow closed above 30,000 points for the first time, hitting pause on a market rally that has been fueled by encouraging vaccine news and signs that a formal transition of power is underway in Washington. US stock futures were little changed ahead of the open. Dow futures…MORE

Nearly 1 million Sunbeam Crock-Pots recalled for burn risks

Nearly 1 million Sunbeam Crock-Pots recalled for burn risks

Sunbeam Products is voluntarily recalling more than 900,000 of its Crock-Pot 6-Quart Express Crock Multi-Cookers for a potential burn hazard. The recall news comes just two days before Thanksgiving. The problem, according to the United States Consumer Product Safety Commission (CPSC), is “the recalled Crock-Pot multi-cooker can pressurize when the lid is not fully locked.”…MORE

Fox News settles lawsuit with family of Seth Rich

Fox News settles lawsuit with family of Seth Rich

The parents of Seth Rich, a Democratic National Committee staffer whose unsolved murder became the basis for right-wing conspiracy theories, settled their lawsuit with Fox News on Tuesday. “The settlement with Fox News closes another chapter in our efforts to mourn the murder of our beloved Seth, whom we miss every single day,” the parents,…MORE

BuzzFeed is buying HuffPost — and inheriting its diversity issues

BuzzFeed is buying HuffPost — and inheriting its diversity issues

About an hour after the news that BuzzFeed is acquiring HuffPost first broke, BuzzFeed chief Jonah Peretti held an all-hands for HuffPost staffers over Google Meet. Peretti appeared enthusiastic and optimistic, according to two HuffPost staffers who were on the call, and those feelings were shared by some members of the staff at HuffPost, but…MORE

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