Breaking News: Business

Allbirds reported third-quarter revenue growth 33% from last year, while its losses widened. Co-founder and CEO Joey Zwillinger said the company saw notable strength in its stores in the United States, and shoppers responded well to new product launches. The company ended the quarter with 31 retail locations, including those outside the U.S. Allbirds said
0 Comments
The FDA’s Antimicrobial Drugs Advisory Committee voted 13 to 10 to recommend emergency authorization of molnupiravir. Molnupiravir is an oral antiviral drug designed to treat adults with mild to moderate symptoms of Covid-19 who are at high risk of severe disease. Most committee members agreed it was a difficult vote, with unanswered questions about the
0 Comments
Automotive executives believe President Joe Biden’s goal of half of new vehicles sold in the U.S. to be electric by 2030 is achievable, according to a new KPMG survey. While estimates varied widely, the survey on average found that executives expect 52% of new vehicle sales to be all-electric by 2030. A majority of survey
0 Comments
White House chief medical advisor Dr. Anthony Fauci said Tuesday that 226 cases of the highly mutated omicron Covid-19 variant have been detected across 20 countries so far, but U.S. officials haven’t yet confirmed a case in the states. The variant, which first emerged in South Africa about a week ago, has more than 30
0 Comments
National Retail Federation CEO Matt Shay said Tuesday that the new Covid-19 variant could direct more dollars toward electronics, toys, apparel and other items instead of vacations and movie tickets. News of the omicron variant came during a key time for holiday shopping. The trade group reiterated that its forecast of between $843.4 billion and
0 Comments
Beauty is expected to be a hot category this holiday season, as more people primp for parties and return to stores again. The holiday season brings the first big test for partnerships that Target and Kohl’s have struck with Ulta Beauty and Sephora. Both Target and Kohl’s say the partnerships are helping bring new customers
0 Comments
Elon Musk described a dire situation with SpaceX’s development of Raptor rocket engines the day after Thanksgiving in a company-wide email, a copy of which was obtained by CNBC. “The Raptor production crisis is much worse than it seemed a few weeks ago,” Musk wrote. Raptor engines power the company’s Starship rocket, with Musk adding
0 Comments
BMW on Monday night unveiled a high-performance concept vehicle that previews an electrified crossover expected to begin production late next year in South Carolina. The new production car, called the BMW XM, will be available exclusively as a plug-in hybrid electric vehicle under the company’s “M” performance division, the company said. BMW said the U.S.
0 Comments
CDC Director Rochelle Walensky told all U.S. adults to get a booster shot. The strengthened recommendation comes as public health officials worry that the omicron variant could exacerbate an expected winter infection surge. The variant has not yet been detected in the U.S. The Centers for Disease Control and Prevention on Monday strengthened its recommendation
0 Comments
The U.S. on Friday said it would ban visitors from South Africa and 7 other southern African nations after the detection of the omicron variant. Japan, the U.K. and Israel are among the countries that have also put travel restrictions in place to stem the spread of the variant. The variant has already been detected
0 Comments
Walmart’s longtime Chief Financial Officer Brett Biggs is leaving the company, the retailer announced Monday. Biggs has worked for the company for 22 years and has served as a prominent leader for Walmart, which is the country’s largest private employer. Walmart‘s longtime Chief Financial Officer Brett Biggs is leaving the company, the retailer announced Monday.
0 Comments
Cancellations were minimal compared with mass disruptions earlier this year. Southwest and American were among the airlines that offered staff extra bonus pay for holiday trips. Concern over the omicron variant sparked new travel restrictions in the U.K., U.S., Japan, Israel and elsewhere. U.S. airlines over Thanksgiving week had some of their busiest days since
0 Comments
At midnight on Nov. 29, tickets for the latest Marvel Cinematic Universe film “Spider-Man: No Way Home” went on sale, crashing domestic movie ticket sites. This kind of fervor has not been seen at the box office since 2019 when advanced tickets for titles like “Avengers: Endgame” and “Star Wars: The Rise of Skywalker” went
0 Comments
Over the five-day Thanksgiving holiday weekend, moviegoers in the U.S. and Canada spent around $142 million on tickets for movies like “Encanto,” “House of Gucci” and “Ghostbusters: Afterlife.” The haul is not as robust as previous years, where ticket sales often topped $250 million, but showcases consumer confidence in returning to cinemas amidst the pandemic.
0 Comments
Reviewing South Africa’s research will help the U.S. better understand whether the variant can evade the antibody protection provided by vaccines and previous infection, Fauci said. Fauci added that analyzing the data could help determine whether travel restrictions against countries in southern Africa might also be necessary in the U.S. The new strain has now
0 Comments
Online spending during November and December is on track to hit $207 billion, according to data from Adobe Analytics. Thanksgiving day online sales, however, hit $5.1 billion and wound up on the low end of the predicted range, according to the company. The results raise questions about whether demand will be as strong as predicted
0 Comments
The U.K. said it would suspend flights from South Africa and surrounding countries because of the new variant. The European Commission recommended a pause on travel between the EU and southern Africa. The new restrictions highlight how new variants of Covid-19 can quickly disrupt travel, just as many airlines and aircraft manufacturers like Boeing were
0 Comments
Consumers’ huge appetite to spend and the global supply chain crunch are colliding this holiday season, which will make deep discounts harder to find. For retailers, that shift could be an opportunity to retrain American consumers who have long been hooked on deals. “Other countries do not discount like we do,” Katie Thomas, lead for
0 Comments
The World Health Organization is monitoring a new Covid variant, scheduling a special meeting Friday to discuss what it may mean for vaccines and treatments, officials said. The variant, called B.1.1.529, has been detected in South Africa in small numbers. South African scientists have detected 30 mutations to the spike protein, the part of the
0 Comments
Filming “Hamilton” and distributing it on Disney+ didn’t diminish demand for the Broadway musical, it amplified it, said creator and star Lin-Manuel Miranda. Over the decades, Broadway showrunners have shied away from creating filmed copies of popular shows, fearing that making the production too accessible would mean fewer ticket sales. The “Hamilton” film, which was
0 Comments
Disney’s “Encanto” has been largely praised by critics for its animation style, diversity and “spellbinding” songs. It currently holds a 93% “Fresh” rating on Rotten Tomatoes from 69 reviews. Due out in theaters ahead of Thanksgiving, Disney’s latest animated film centers on the Madrigals, a family who live hidden in the mountains of Colombia in
0 Comments
Box office analysts are optimistic that more families will head to movie theaters this Thanksgiving since some children have received Covid vaccinations. All eyes are on Disney’s “Encanto,” which analysts hope will be a major catalyst for ticket sales during the five-day holiday period. Other films being released this week include “House of Gucci,” “Licorice
0 Comments
Williams-Sonoma is one of the retailers that has gotten a lift from cooking and decorating trends, with its stock value more than doubling this year. As big holiday gatherings make a comeback, the company’s flagship brand has launched a membership program and a recipe app to keep its customers engaged. Newell Brands, a company that
0 Comments
“Even if you’re vaccinated, continue to take precautions to prevent becoming infected yourself, and to infecting someone else who could die,” WHO Director-General Dr. Tedros Adhanom Ghebreyesus said. “That means wearing a mask, maintaining distance, avoiding crowds and meeting others outside if you can, or in a well-ventilated space inside,” he said. Though the majority
0 Comments