Business News

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
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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
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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
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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
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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
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Allbirds, which reports its first earnings as a public company on Tuesday, has looked to set itself apart from other companies in the sneaker and apparel space like Adidas, Nike and Lululemon through its heavy focus on environmentally friendly products and business practices. As more money is flowing into ESG-focused investments, Wall Street analysts appear
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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
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Jack Dorsey sold his first tweet as an NFT and donated the proceeds to charity earlier this year. Gemini, the cryptocurrency company founded by bitcoin billionaires Cameron and Tyler Winklevoss, have launched a “Give Back with Crypto” feature. NFT platforms including Metagood, OpenSea, and DoinGud, which launches on Giving Tuesday, are focusing on philanthropy as
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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
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Shopify has seen strong Cyber Monday sales across its worldwide network of merchants, according to the company’s president, Harley Finkelstein. “We don’t have final numbers, but Shopify merchants have now surpassed last year’s sales of $5.1 billion globally,” he told CNBC’s Jim Cramer. Shopify President Harley Finkelstein told CNBC that Cyber Monday sales have been strong across
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It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed. Matterport: “3D camera, everybody loves 3D. I’ve never made any money on 3D. I’m going to have to take a big pass since that’s stock already moved too
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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.
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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
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Lululemon has filed an anticipated patent lawsuit against Peloton, in a growing feud over sports bras and leggings designs. In a case filed Monday in the the Central District of California, Lululemon said it is seeking injunction against Peloton’s infringement of its intellectual property rights. It’s also asking for damages and other monetary relief. The
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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
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The trial of Ghislaine Maxwell was set to begin with a federal prosecutor’s opening statement laying out the case against the British socialite accused of acting as a procurer of underage girls to be sexually abused by Jeffrey Epstein. Maxwell’s federal trial comes 17 months after her arrest and more than two years after Epstein
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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.
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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
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