General Mills CEO Jeff Harmening said that the company takes food safety very seriously after a customer’s claim he found shrimp tails in his Cinnamon Toast Crunch cereal went viral. “It is amazing the amount of news coverage that this story has generated. I must admit that some of it is kind of humorous, but
Jason Kempin | Getty Images Entertainment | Getty Images The furniture retailer RH, formerly Restoration Hardware, on Wednesday reported fourth-quarter earnings and sales that topped Wall Street estimates, as it continued to see robust demand for its high-end furniture and home wares. CEO Gary Friedman said the momentum is expected to continue into this year,
Samuel Corum/Bloomberg via Getty Images The IRS had a backlog of almost 12 million paper tax returns from individuals and businesses as of Christmas, according to a report from the Treasury Inspector General for Tax Administration. As a result, many taxpayers may not have gotten refunds owed from last year’s filing season, the watchdog said
Illustrative image of two commemorative bitcoins seen in front of the Tesla car logo. Artur Widak | NurPhoto | Getty Images You may be aware that you can now purchase a Tesla using bitcoin. If the idea appeals to you, here’s a twist: the taxman will be hovering with palm out. When you use bitcoin
Credit Suisse bank. NurPhoto | NurPhoto | Getty Images One Wall Street firm may have found a solution to the unhappiness of overworked junior bankers amid a boom in deals activity: Money. Credit Suisse executives told mid- and entry-level investment bankers Wednesday that they were getting special $20,000 bonuses in the second quarter, and that
A small business owner in Chinatown, San Francisco Source: CNBC Beginning April 6, small businesses and non-profits can apply for up to 24 months of relief, with a maximum loan amount of $500,000, the Small Business Administration announced Wednesday. The previous limit for such businesses was six months, with a maximum loan amount of $150,000.
This week’s map looks at another barrier to business and consumer recovery: state capital stock taxes. These taxes impair economic growth in the best of times, but during an economic contraction they are particularly harmful to businesses struggling to remain viable. As many businesses may need time to return to profitability after the pandemic crisis, states should prioritize reducing reliance
A 21,000-square-foot megahome in South Florida is the most expensive non-oceanfront home ever sold in Delray Beach, and its $19 million sale price makes it the the town’s top sale in over three years, according to the MLS. “Resort-style living is a driving force in the ultra-luxury market,” listing agent Senada Adzem tells CNBC, “People are rethinking
Signage is displayed outside a Yum! Brands Inc. Taco Bell restaurant in Lockport, Illinois. Daniel Acker | Bloomberg | Getty Images Yum Brands said Wednesday that it has made its second technology acquisition in less than a month as the company tries to hold on to the digital orders it gained during the coronavirus pandemic.
Take a look at some of the biggest movers in the premarket: Intel (INTC) – Intel said it would spend $20 billion to build two new plants at existing facilities in Arizona, in an effort to grab more market shares and fill gaps created by a worldwide chip shortage. Intel aims to start production at
When the Lucid Air luxury sedan EV hits the market in 2022, it’s expected to break records. One of those records would be Lucid Air’s expected ability to drive up to 517 miles on a single charge, which would top any other electric production vehicle. Lucid has also promised that the Lucid Air will be
Tiffany Hagler-Geard | Bloomberg | Getty Images Investors are finally getting a look at GameStop‘s fundamentals following a Reddit-fueled trading frenzy earlier this year. Here’s what the company did after the bell Tuesday. It released quarterly results that missed Wall Street’s estimates. In its latest executive shake-up, the company named former Amazon and Google executive
ozgurcankaya The IRS recently extended the filing deadline for individual tax returns to May 17 from April 15. You may still want to file by the original date. That’s because the extension only applies to individual returns, from taxpayers who file an IRS Form 1040. For people who make estimated tax payments, including the self-employed
A worker walks on the roof of a new home under construction in Carlsbad, California. Mike Blake | Reuters Higher mortgage rates do not appear to be dampening demand for home purchases but are crimping refinance volume. Mortgage applications to purchase a home rose 3% last week from the previous week, according to the Mortgage
Branding for the vaccination program on the clothing of a staff outside a community vaccination center administering the BioNTech Covid-19 vaccine imported by Fosun Pharma in Hong Kong, China, on Wednesday, March 17, 2021. Chan Long Hei | Bloomberg via Getty Images Shares of China’s Shanghai Fosun Pharmaceutical Group fell after Hong Kong and Macao
Canaccord Genuity’s Tony Dwyer is temporarily dialing back his appetite for stocks. On the one-year anniversary of the Covid-19 bottom, he’s telling investors the market is in “no man’s land.” “We’re in this period where the Russell 1000 growth mega cap stocks aren’t oversold anymore and the cyclical or economic recovery theme isn’t extreme overbought
Major banks around the world are still financing fossil fuel companies to the tune of trillions of dollars. A new report, published Wednesday from a collection of climate organizations and titled Banking on Climate Chaos 2021, finds 60 of the world’s largest commercial and investment banks have collectively put $3.8 trillion into fossil fuels from
Seniors, who are 65 and over, wait in line at the Department of Health Sarasota COVID-19 vaccination clinic in Sarasota, Florida, U.S. January 4, 2021. Octavio Jones | Reuters As $1,400 stimulus checks go out, some lawmakers are expressing concern that recipients of Social Security and other federal benefits have yet to get the money
. Catherine Falls Commercial | Moment | Getty Images The Centers for Disease Control and Prevention may be moving to extend the national eviction moratorium that has been in effect since September and is now scheduled to expire at the end of March. The CDC has sent a proposal to the Office of Management and
Patrice Washington started her career before graduating college. The USC grad became a real estate broker while juggling classes and homework during her senior year. After graduating in 2003, Washington opened her own boutique real estate and mortgage brokerage. She immediately had to hire employees to keep up with demand. By 2007, she had made