Category Archives: CNN – Business

Here’s why McDonald’s is ditching its fancy burgers

McDonald’s is streamlining its menu by revamping its Quarter Pounder and abandoning its craft burgers. The company said Wednesday that it will “move away” from its Signature Crafted Recipes line — which includes items like a mushroom and swiss cheese burger and one with bacon, cheddar and fried onions — on its national menu to…MORE

Netflix to open production hub in New York City

Netflix is opening a production hub in New York City that will bring “up to $100 million in investments to the city,” New York Governor Andrew Cuomo announced Thursday. The streaming video company’s new Manhattan offices will take up approximately 100,000 square feet in New York’s Flatiron District. These offices will house 127 new jobs…MORE

National Enquirer reportedly sold for $100 million

The supermarket tabloid National Enquirer has reportedly been sold to the scion of a company known for its newsstands at airports across North America. James Cohen, who comes from the family that started Hudson News, a travel retailer at airports in the United States and Canada, has reportedly agreed to buy the troubled publication for…MORE

How one of India’s biggest airlines imploded

Almost 26 years to the day after its first flight, one of India’s biggest airlines has thrown in the towel. Jet Airways announced late Wednesday that it was indefinitely suspending all flights after it ran out of cash, marking a swift downfall for an airline that dominated India’s fast-growing aviation industry for years. The airline…MORE

France asks: Should billionaires get tax breaks on Notre Dame donations?

One after the other, France’s three richest families opened their checkbooks and pledged a combined $565 million to rebuild the fire-ravaged Notre Dame cathedral in Paris. The first mega donation, for €100 million ($113 million), was announced by luxury group Kering and the Pinault family. It was followed by €200 million ($226 million) from Bernard…MORE

Trump wants his base to watch Fox News or OANN on Mueller report day

On a pivotal news day, with the redacted version of Robert Mueller’s report now publicly available, President Trump wants his base to be watching his pre-approved channels. On Thursday morning Trump plugged both Fox News and OANN, a much smaller cable channel that positions itself to the right of Fox. He tweeted that people should…MORE

Canopy Growth is buying cannabis company Acreage for $3.4 billion — with one catch

Canopy Growth, the Canadian cannabis company backed by Corona owner Constellation Brands, announced plans Thursday to buy US cannabis firm Acreage Holdings. But there’s a catch. Canopy said that it intends to buy Acreage “at such time as cannabis production and sale becomes federally legal in the United States.” Many states have legalized the sale…MORE

Pier 1 stock plunges 25% after announcing plans to close up to 45 stores

Add Pier 1 Imports to long list of retailers showing signs of distress. The troubled company put out a dismal earnings report Wednesday, and disclosed a larger-than-expected fourth quarter loss. Pier 1 said it’s shuttering as many as 45 locations this year — with the potential for several dozen more. Pier 1 said that it…MORE