Category Archives: CNN – Business

Gold heading to $2,000? Prices surge on global fear

Gold heading to $2,000? Prices surge on global fear

Gold was one of the few investments heading higher Monday as worries about the coronavirus outbreak led to a steep market slide. Gold is now up more than 20% in the past year, and trading near $1,600 an ounce, its highest level since 2013. Other precious metals, such as silver and platinum, have rallied too.…MORE

Planters dials back on Mr. Peanut’s death following Kobe Bryant news

Planters dials back on Mr. Peanut’s death following Kobe Bryant news

Kraft Heinz is pausing promotion for its Super Bowl ad that shows the death of longtime Planters mascot Mr. Peanut following the helicopter crash that killed Kobe Bryant and eight others. Planters’ last week released a commercial in which the 104-year old mascot falls to his death after the company’s Nutmobile veers off a cliff.…MORE

Bar Louie files for bankruptcy and closes one-third of its restaurants

Bar Louie files for bankruptcy and closes one-third of its restaurants

Bar Louie, a restaurant chain known for its cocktails and burgers, has filed for bankruptcy and closed dozens of locations. The company announced Monday that it filed for Chapter 11. It came to an agreement with its lenders to purchase the chain through a bankruptcy sale. Bar Louie said that restaurants will operate in the…MORE

Dow tumbles as the coronavirus outbreak worsens

Dow tumbles as the coronavirus outbreak worsens

The Dow tumbled Monday morning, as US stock nosedived on the continuing global spread of coronavirus. The S&P 500 fell 1.3%, while the Nasdaq Composite was down 1.7%. The Dow, which was down as much as 549 points right after the opening bell rang, was most recently down 350 points, or 1.2%. European exchanges are…MORE

Casper’s sales are surging but it can’t stop losing money

Casper’s sales are surging but it can’t stop losing money

Mattress startup Casper has big ambitions to become a publicly traded wellness company. The problem is it can’t stop losing money. The company reported Monday sales soared 23% to about $439 million, but it lost about $94 million in the past quarter. Its loss was about 2% more than its losses during the fourth quarter…MORE

Oil prices have fallen 10% as coronavirus raises fears for global growth

Oil prices have fallen 10% as coronavirus raises fears for global growth

China’s coronavirus outbreak has rattled oil markets, sending prices sharply lower as investors worry that efforts to prevent it spreading will harm the country’s economy and reduce demand for crude. Brent crude futures traded around 3% lower on Monday at $58.88 a barrel, their lowest level since October. US crude futures were down roughly 3%.…MORE

Economists are even more optimistic about the US economy

Economists are even more optimistic about the US economy

A growing number of American economists are bullish about growth in the coming year. The National Association for Business Economics said in a survey released Monday that 67% of respondents expect America’s gross domestic product — the most complete measure of the nation’s economy — to grow by 1.1% to 2% this year. A growing…MORE

How the coronavirus is already hurting global business

How the coronavirus is already hurting global business

Major shops, restaurants and tourist destinations are shuttering their doors across China, as global businesses begin to feel the effects of the deadly Wuhan virus outbreak. Chinese officials on Monday announced that the death toll from the coronavirus has risen to 80, with nearly 2,800 cases confirmed in mainland China and several dozen more in…MORE

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