Business

Nov
12
2021
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By Troy Warren
U.S. consumer prices soared 6.2% in past year, most since 1990

U.S. consumer prices soared 6.2% in past year, most since 1990

Business, In The News, Lifestyle,
By CHRISTOPHER RUGABER, Associated Press Troy Warren for CNT #Business  #Lifestyle WASHINGTON — Prices for U.S. consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990. The year-over-year increase in the consumer price index exceeded the 5.4% rise in September, the Labor Department reported Wednesday. From September to October, prices jumped 0.9%, the highest month-over-month increase since June. Inflation is eroding the strong gains in wages and salaries that have flowed to America’s workers in recent months, creating political headaches for the Biden administration and…
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Nov
10
2021
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By Troy Warren
Apple unveils new subscription service aimed at small businesses

Apple unveils new subscription service aimed at small businesses

Business, Digital, ,
Erin Carson | CNET.Com Troy Warren for CNT #Business #Digital Apple has a new subscription service for businesses covering device management, iCloud storage and more. Apple is working on a new service, built for small businesses with up to 500 employees.  Apple Business Essentials will include iCloud storage, Apple support and device management among other offerings, the company said in a blog post, Wednesday. "Apple Business Essentials is designed to help streamline every step of employee device management within a small business — from setup, onboarding, and upgrading, to accessing fast service and prioritized support, all while keeping data backed up…
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Nov
10
2021
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By Troy Warren
Los Angeles: Discovery CEO Moving to L.A. After WarnerMedia Merger: “I’m Going to Be Very Hands-On”

Los Angeles: Discovery CEO Moving to L.A. After WarnerMedia Merger: “I’m Going to Be Very Hands-On”

Business, City News, ,
BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for LosAngelesNewsAndTalk.Com #Business David Zaslav says he'll have an office on the Warner Bros. studio lot and has "ideas" about the unified leadership structure at the merged firm but isn't ready to present that yet. Discovery CEO David Zaslav will move to Los Angeles to run the new content giant to be created by the merger with AT&T’s WarnerMedia, which is expected to close by mid-2022, the executive said on Wednesday. “I am moving to California,” specifically L.A., with an office on the studio lot, because “that is where the content is made, this is…
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Nov
10
2021
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By Troy Warren
Kaufman Astoria Studios, Original Home of Paramount, Sold to Hackman, Square Mile

Kaufman Astoria Studios, Original Home of Paramount, Sold to Hackman, Square Mile

Business
BY ETAN VLESSING | HollywoodReporter.Com Troy Warren for CNT #Business The Queens facility boasts 11 soundstages and 325,000 square feet of production offices. Hackman Capital Partners and Square Mile Capital Management have acquired Kaufman Astoria Studios, the New York City studio backlot and the original home of Paramount Pictures. Terms of the deal for the Queens facility with 11 soundstages and 325,000 square feet of production offices were not disclosed. But formal bids for Kaufman Astoria Studios, which opened in 1920, were received in March 2021 and are understood to have targetted a $600 million price tag. The latest studio acquisition…
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Nov
09
2021
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By Troy Warren
Richard Fain to Step Down as CEO of Royal Caribbean Group

Richard Fain to Step Down as CEO of Royal Caribbean Group

Business, Travel, ,
DONALD WOOD | TravelPulse.Com Troy Warren for CNT #Travel #Business   The Royal Caribbean Group announced Tuesday that Chief Executive Officer Richard Fain would step down from his role, effective January 3, 2022. Royal Caribbean Chief Financial Officer Jason Liberty will succeed Fain as CEO and join the Board of Directors, while Fain will remain as Chairman of the Board of Directors. Fain spent more than 33 years as CEO of the Royal Caribbean Group, leading the way with innovations he championed involving every aspect of cruising, including revolutionary ship design, major sustainability efforts and more. “Given the great depth and…
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Nov
08
2021
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By Troy Warren
Robinhood hit by data breach exposing users’ emails, names

Robinhood hit by data breach exposing users’ emails, names

Business, ,
By The Associated Press Troy Warren for CNT #Business NEW YORK — Popular investing app Robinhood said Monday that it suffered a security breach last week in which hackers accessed some personal information for roughly 7 million users and demanded a ransom payment. The online trading platform said it believes no Social Security numbers, bank account numbers or debit card numbers were exposed and that customers have seen no financial losses because of the intrusion. For most affected customers, the only information obtained was an email address or a full name. For 310 people, the information taken included their name, date…
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Nov
07
2021
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By Troy Warren
Coca-Cola buys control of BodyArmor for $5.6 billion

Coca-Cola buys control of BodyArmor for $5.6 billion

Business, ,
By Michael E. Kanell, The Atlanta Journal-Constitution Troy Warren for CNT #Business Upstart sports drink brand a distant second to PepsiCo’s Gatorade Coca-Cola paid $5.6 billion to take full control of sports drink maker BodyArmor, the company’s largest-ever acquisition, the Atlanta-based beverage giant announced Monday. Coke had owned a 15% stake in BodyArmor since 2018. Coke now fully owns a company with fast-growing revenues as well as celebrity sports investors that include baseball player Mike Trout and basketball stars James Harden and the late Kobe Bryant. While Coke has a sports drink of its own in Powerade, the market is dominated by Gatorade, which…
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Nov
07
2021
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By Troy Warren
Travel Leaders React to Passage of Infrastructure Bill

Travel Leaders React to Passage of Infrastructure Bill

Business, In The News, Travel, ,
RICH THOMASELLI | HollywoodReporter.Com Troy Warren for CNT #Travel #Business   Not surprisingly, travel leaders are ecstatic this morning after Congress passed a historic $1.2 trillion infrastructure bill late Friday night. The oft-debated, contentious final vote was approved by a margin of 228-206in the House of Representatives after the Senate had already voted in favor in August, CNN and major media outlets all reported. It is the largest federal government expenditure for infrastructure in history. The Infrastructure Investment and Jobs Act now heads to The White House for President Joe Biden’s signature, which is expected almost immediately. Of the $1.2 trillion,…
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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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