New rule could make it harder for banks to cut ties with oil and coal companies
Big banks, climate activists and banking reform advocates don’t agree on much, but they joined forces to denounce a proposed Trump administration rule that would make it harder for banks to cut ties with the fossil fuel industry. The rule, adopted Thursday by the Office of the Comptroller of the Currency, requires large banks to…… MORE
Xi Jinping wants Starbucks and Howard Schultz to help repair US-China ties
China’s leader has called on Starbucks’ former chairman Howard Schultz to help promote US-China relations, according to Chinese state media. State-run news agency Xinhua reported on Thursday that Chinese President Xi Jinping had written to Schultz, encouraging the American billionaire and the global coffee giant he ran for years to improve economic and trade ties.…… MORE
China is winning the trade war and its exports have never been higher
China was already outperforming every other major world economy last year as the coronavirus pandemic upended the globe. It looks like the country’s relatively sure footing also gave it the edge in its trade war with the United States. The world’s second biggest economy closed out 2020 with an overall trade surplus of $78 billion…… MORE
Chobani reinvented yogurt. Its next target is coffee
When Chobani started selling Greek yogurt in 2007, it upended the market. Now, it wants to do the same for iced coffee. This week, Chobani is launching a new line of refrigerated, ready-to-drink coffees. The new product comes in four flavors: one black cold brew option, one with oat milk, one with sweet creamer, and…… MORE
Businesses can’t sever ties with Trump fast enough
Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. In today’s business news: The Trump business backlash continues, there’s a Keurig for ice cream and Las Vegas can’t catch a break. Let’s get into it. TRUMP BACKLASH What a week.…… MORE
Netflix has doubled its Black workforce since 2017, but says it still needs to hire more Latinos
The number of Black people working at Netflix has doubled over the last three years, but the company admits it has work to do when it comes to adding Latinx staffers to its ranks. Those were just two of the revelations made in Netflix’s first-ever inclusion report, which was released Wednesday. The company’s new demographic…… MORE
Billionaire GOP donor says he feels ‘betrayed’ by Trump and vows to support Biden
Billionaire Republican donor and Home Depot co-founder Ken Langone said he feels “betrayed” by President Donald Trump after the attempt to overturn the election, and he vowed to do everything he can to support Joe Biden as the new president. Langone, who voted for Trump in 2016 and gave him credit for improving the economy,…… MORE
Dollar General will pay its workers to get a Covid-19 vaccine
Dollar General wants its employees to get Covid-19 vaccines, so it’s offering to pay them to do it. The chain said Wednesday that it will give its workers a one-time payment equivalent to four hours of pay after receiving a completed vaccination. “We do not want our employees to have to choose between receiving a…… MORE
The big winners from Tesla stock surge: lithium miners and battery makers
The incredible stock market surge for Tesla isn’t just making Elon Musk and Tesla investors rich. Traders betting on lithium miners and battery makers are also benefiting from Tesla’s success. Lithium is a key component for batteries in electric cars. The Global X Lithium & Battery Tech ETF, a fund that owns Tesla and other…… MORE
Dubai real estate developer wants to do more business with Trump
Corporate America may be running away from President Donald Trump but at least one of his international business partners is standing by him. Hussain Sajwani, the chairman of property developer DAMAC, said he wants to expand his relationship with the Trump Organization despite the president’s role in stoking a violent siege last week of the…… MORE
