Category Archives: CNN – Business

The GameStop saga is captivating Wall Street — for good reason

The meteoric rise in GameStop’s stock, as traders congregating on Reddit and Discord take on short sellers and hedge funds, is hard to look away from. It’s the closest thing Wall Street has to David vs. Goliath. What’s happening: Shares of GameStop, a legacy company whose stores are often located in struggling malls, have soared…MORE

New coronavirus variants pose major risk to the global economy

The pandemic could slam the brakes on a global economic turnaround this year despite mass vaccination programs and unprecedented levels of stimulus, according to the International Monetary Fund. The IMF expects the global economy to grow by 5.5% this year, it said on Tuesday, or 0.3 percentage points faster than its previous forecast in October.…MORE

Pfizer and AstraZeneca take heat as vaccine delays threaten Europe’s recovery

Pfizer and AstraZeneca take heat as vaccine delays threaten Europe’s recovery

The European Union is calling out vaccine makers AstraZeneca and Pfizer over delivery delays that could slow its recovery from the pandemic. Officials are even threatening to take legal action and introduce export controls on doses produced in the bloc as anger mounts. AstraZeneca will not be able to deliver as many doses of its…MORE

MyPillow CEO Mike Lindell has been banned from Twitter

MyPillow CEO Mike Lindell has been banned from Twitter

Mike Lindell, the CEO of MyPillow, was banned from Twitter Monday night, according to a Twitter spokesperson. Twitter made its decision based on a new policy it enacted after the Capitol insurrection whereby people who repeatedly share election misinformation can be permanently banned. “The account you referenced has been permanently suspended due to repeated violations…MORE

Pizza Hut debuts a new Detroit-style pizza

Pizza Hut debuts a new Detroit-style pizza

Pizza Hut’s newest pizza doesn’t look like its other pizzas. The chain is launching a new Detroit-style pizza, which ditches the traditional round shape for a rectangular crust with cheese to the edges that’s popular in the Michigan city. It’s Pizza Hut’s second major product launch this month as the pandemic-era pizza wars show few…MORE

GameStop’s stock is going through some stuff. You can thank Reddit

GameStop’s stock is going through some stuff. You can thank Reddit

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Today in business news: GameStop’ shares are soaring, Budweiser is skipping the Super Bowl and Coke with Coffee is just the chaos we need right now. Let’s get into it. GAMESTOP…MORE

Janet Yellen is confirmed as the first female Treasury secretary in US history

Janet Yellen is confirmed as the first female Treasury secretary in US history

Lawmakers confirmed Janet Yellen as Treasury secretary on Monday, making her the first woman in American history to hold the position. As head of the Treasury, she’ll be tasked with shepherding President Joe Biden’s $1.9 trillion American Rescue Plan through Congress and overseeing its execution. The plan includes $1,400 stimulus checks, expanded unemployment benefits, and…MORE

AMC’s CEO believes his movie theaters will survive through 2021

AMC’s CEO believes his movie theaters will survive through 2021

Adam Aron is in a surprisingly good mood for a CEO of a struggling theater chain that recently said it might not make it through the winter. But the AMC Theatres CEO was jovial because his fortunes recently changed. The world’s largest movie theater company announced Monday it had raised $917 million of new equity…MORE

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