Business

Nov
07
2021
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By Troy Warren
Report: U.S. cancels vaccine maker’s multimillion-dollar deal

Report: U.S. cancels vaccine maker’s multimillion-dollar deal

Business, COVID-19, ,
By The Associated Press Troy Warren for CNT #COVID-19 #Business WASHINGTON — The federal government has canceled a multimillion-dollar deal with Emergent BioSolutions, a Maryland-based vaccine manufacturer with facilities in Baltimore that were found to have produced millions of contaminated Johnson & Johnson vaccine doses this spring, The Washington Post reported. Emergent disclosed the development Thursday in a conference call discussing its latest financial results, the Post reported. Emergent said it will forgo about $180 million due to the contract’s termination, according to the Post. Emergent BioSolutions played a role in the Trump administration’s effort to speed up vaccine development and…
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Nov
06
2021
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By Troy Warren
U.S. hiring rebounded in October, with 531,000 jobs added

U.S. hiring rebounded in October, with 531,000 jobs added

Business
By CHRISTOPHER RUGABER, Associated Press Troy Warren for CNT #Business WASHINGTON — America’s employers stepped up their hiring in October, adding a solid 531,000 jobs, the most since July and a sign that the recovery from the pandemic recession is overcoming a virus-induced slowdown. Friday’s report from the Labor Department also showed the unemployment rate fell to 4.6% last month, from 4.8% in September. That is a comparatively low level but still well above the pre-pandemic jobless rate of 3.5%. The economy’s emergence from the pandemic, by most measures, remains on course. Services companies in such areas as retail, banking and warehousing have…
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Nov
06
2021
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By Troy Warren
Roku Hits 56M Active Users as $680M Revenue Meets Expectations

Roku Hits 56M Active Users as $680M Revenue Meets Expectations

Business,
BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT #Business Total streaming hours amounted to 18 billion — a figure below Roku's Q1 performance. Roku reported a total of 56.4 million active users during its third quarter, a slight increase from the previous quarter, as revenue met expectations at $680 million. Total gross profit for Q3 hit $364 million, topping last quarter’s projections of $320 million. During Q3, streaming hours amounted to 18 billion hours as Roku made up for some of its Q2 losses, when the company reported 17.4 billion streaming hours, a roughly 1 billion-hour decline from Q1’s 18.3…
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Nov
02
2021
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By Troy Warren
U.S. prisons face staff shortages as officers quit amid COVID

U.S. prisons face staff shortages as officers quit amid COVID

Business, COVID-19, Editors Picks, ,
By KERI BLAKINGER, JAMILES LARTEY, BETH SCHWARTZAPFEL and CHRISTIE THOMPSON of The Marshall Project and MICHAEL R. SISAK of The Associated Press Troy Warren for CNT #EditorsPicks #Business #COVID-19 At a Georgia state House of Representatives hearing on prison conditions in September, a corrections officer called in to testify, interrupting his shift to tell lawmakers how dire conditions had become. On a “good day,” he told lawmakers, he had maybe six or seven officers to supervise roughly 1,200 people. He said he had recently been assigned to look after 400 prisoners by himself. There weren’t enough nurses to provide medical care. “All…
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Oct
31
2021
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By Troy Warren
Amazon Misses Earnings Estimates as It Grapples With Supply Chain Issues, Labor Challenges

Amazon Misses Earnings Estimates as It Grapples With Supply Chain Issues, Labor Challenges

Business,
BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business Profits were nearly cut in half as the company responds to logistics and hiring challenges. Amazon missed Wall Street targets in income and earnings per share, with the reverberations from the pandemic continuing to impact the company in good ways and bad. On the one hand, net sales increased 15 percent to more than $110 billion as demand for goods continues to surge, but operating income fell to $4.9 billion from $6.2 billion a year earlier, and net income fell by nearly half to $3.2 billion as the company poured cash into…
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Oct
30
2021
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By Troy Warren
Facebook Rebrands as Meta, Shifts to Virtual Reality Focus

Facebook Rebrands as Meta, Shifts to Virtual Reality Focus

Business, Digital, , ,
BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT #Digital #Business As part of the name change, which highlights the company's focus on the "metaverse," Facebook will change its stock ticker to MVRS beginning Dec. 1. Facebook is changing its corporate name to Meta as the company shifts its focus to virtual and augmented reality, CEO Mark Zuckerberg said Thursday. The rebranded company’s suite of apps — including Facebook, Instagram and WhatsApp — will not change names, but Meta’s stock ticker will change from FB to MVRS beginning Dec. 1. “Starting today, our company is now Meta,” Zuckerberg said during Facebook Connect, the…
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Oct
30
2021
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By Troy Warren
Fired Netflix Staffer Files Labor Complaint Alleging Company Is Trying to Stop Employees From “Speaking Up”

Fired Netflix Staffer Files Labor Complaint Alleging Company Is Trying to Stop Employees From “Speaking Up”

Business,
BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT #Business B. Pagels-Minor and Terra Field have alleged that the streaming giant retaliated against them for protesting Netflix's actions around the Dave Chappelle special 'The Closer.' A fired Netflix employee and current software engineer at the streamer have filed a labor charge with the National Labor Relations Board alleging that Netflix retaliated against them for “speaking up” against Netflix’s handling of the Dave Chappellecomedy special, The Closer. The charge, filed on Wednesday and first reported by The Verge on Friday, was submitted on behalf of B. Pagels-Minor, a former Netflix program manager who was fired for allegedly leaking company…
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Oct
25
2021
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By Troy Warren
Royal Caribbean CEO Delivers Message to Travel Advisors

Royal Caribbean CEO Delivers Message to Travel Advisors

Business, Travel,
RICH THOMASELLI | TravelPulse.Com Troy Warren for CNT #Travel Royal Caribbean Cruise Lines (RCCL) Chairman and CEO Richard Fain delivered another of his popular video messages on Friday, this one aimed at travel advisors with a plea – help us reach our full booking potential. Fain has been active on RCCL’s YouTube channel since the start of the pandemic some 20 months go. The CEO made special mention of his surroundings, standing outside the cruise line’s headquarters for the first time instead of filming in his backyard, a welcome return to normalcy. But he noted that COVID-19 is not over.…
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Oct
24
2021
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By Troy Warren
Why Amazon Fresh stores will likely rock a few boats

Why Amazon Fresh stores will likely rock a few boats

Business, Editors Picks,
Bill Bishop | SuperMarketNews.Com Troy Warren for CNT #Business Retail industry expert Bill Bishop explains how grocers can compete with this new arrival, both in-store and online Recognized as one of the retail food industry’s preeminent advisors, Supermarket News contributor Bill Bishop has been involved in research and consulting for several decades with a concentration on the new issues, competitors and developments impacting this business. In 2011, Bill co-founded and became the Chief Architect at Brick Meets Click, an analytics and strategic insight firm that leverages its industry expertise, clear thinking and practical solutions to help clients solve the challenge of finding new routes…
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Oct
24
2021
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By Troy Warren
Amazon’s grocery chain is growing. It isn’t Whole Foods

Amazon’s grocery chain is growing. It isn’t Whole Foods

Business, Foodie, ,
By Nathaniel Meyersohn, CNN Business Troy Warren for CNT #Foodie #Business New York (CNN Business)Four years after Amazon bought Whole Foods, the e-commerce giant is making another major push to sell shoppers groceries. But this time, Whole Foods isn't the focus of the strategy. Instead, Amazon is ramping up openings of Amazon Fresh grocery stores. Amazon has opened 11 Fresh locations around the United States over the past year. It will open a 12th Thursday in Long Beach, California, and Amazon says it has plans to open an additional four stores, although it has not given a timetable. Grocery analysts expect that the company will add more beyond…
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