economy and trade – Gloomberg News

28May

By Gloomberg NewsNo Comments

Politics

Here’s what’s in the debt ceiling deal

CNN — After several weeks of tense negotiations, President Joe Biden and House Republicans have reached an agreement in principle to raise the debt ceiling and cap spending. The drama is by no means over. Congressional leaders in both parties have to convince enough of their members to vote for the agreement, which contains provisions that lawmakers on each side of the aisle don’t support. Not all the details of the agreement are available yet. And the information made public Saturday evening shows some discrepancies. The bill text is scheduled to be released on Sunday. ...

15Apr

By Gloomberg NewsNo Comments

Business

What Walmart’s pullback from Chicago says about Corporate America’s limits

New York CNN — A line of Chicago mayors heavily courted Walmart over the last two decades, brushing aside community protests. And Walmart welcomed the opportunity to show cities it could be a strong corporate partner. But now, Walmart is pulling back from Chicago. The largest retailer in the country announced plans this week to close four of its eight stores in the city, citing growing financial losses. Three are in predominantly Black and low-income neighborhoods, and their closures with little warning mean residents — including elderly citizens and people without reliable transportation — will have to travel further to buy groceries and pick up their medications. “These stores lose ten...

Citgo 6: How the US government brought seven Americans home

23Nov

By Gloomberg NewsNo Comments

Politics

Citgo 6: How the US government brought seven Americans home

CNN — On October 1, five of the so-called Citgo 6 were woken up early in their Venezuelan prison by a guard telling them to “get dressed up properly.” The men put on their yellow prison suits – “We called it our ‘Minion’ suit,” Jose Pereira said – before they were instructed by the head of the prison to instead change into civilian clothes. “We said, ‘Why?’ and he said, ‘Well, because you’re going home,’” Pereira recounted to CNN. The day would mark the end to the “nightmare” that began nearly five years prior, when the six oil executives were lured to Venezuela for what they were told would be a business meeting right before Thanksgiving 2017. In addition to securing the ...

Malaysia’s 15th general election, explained: Floods, climate change and years of political instability

19Nov

By Gloomberg NewsNo Comments

Politics

Malaysia’s 15th general election, explained: Floods, climate change and years of political instability

CNN — Malaysians will head to the polls on Saturday to vote for a new government following years of political turmoil. Three prime ministers have governed the Southeast Asian country since a febrile election with a record turnout was fought four years ago on the key issue of corruption. This time around, the economy – and the rising cost of living – is likely to be the key battleground. Meanwhile, climate change has become a potential disruptor following weeks of torrential downpours and flooding that has hindered campaigning across roughly half of the country. More heavy rain is predicted on polling day and could reduce voter turnout, but officials say the election will go on – rain ...

Opinion: Inflation has driven US politics before

30Oct

By Gloomberg NewsNo Comments

Politics

Opinion: Inflation has driven US politics before

Editor’s Note: Meg Jacobs teaches history at Princeton University. Follow her on Twitter @MegJacobs100. The opinions expressed in this commentary are hers. Read more opinion on CNN. CNN — President Joe Biden stands accused of playing politics with petroleum. His opponents say the reason he is releasing millions of barrels of oil from the Strategic Petroleum Reserve is to bring prices at the pump down before the midterm elections. They might be right. As public opinion polls reveal, the economy appears to be the top issue for voters. As we approach the midterms, more and more candidates, especially in the GOP, are running on anti-inflati...

Brands have fled Kanye. What about his music career?

26Oct

By Gloomberg NewsNo Comments

Business

Brands have fled Kanye. What about his music career?

New York CNN Business — Ye — formerly known as Kanye West — has lost partnerships with fashion brands including Gap, Balenciaga and Adidas following his antisemitic comments in recent weeks. Now, questions remain about the business that helped propel Ye onto the fashion scene in the first place: Music. Since 2004’s “The College Dropout” — his critically acclaimed and commercially successful debut album — Ye has been one of the most popular and notable artists in the world. He has had countless hits and 10 number-one albums, according to Billboard. But all of that could be at risk due to the performer’s recent behavior and comments. Over the past month, Ye has garnered an intense backla...

Beyoncé denies claim she misused ‘I’m Too Sexy’ sample

8Oct

By Gloomberg NewsNo Comments

Entertainment

Beyoncé denies claim she misused ‘I’m Too Sexy’ sample

CNN — Someone’s a “Beautiful Liar,” according to Queen Bey. Genre-crossing superstar Beyoncé has denied allegations that she misused a sample of Right Said Fred’s “I’m Too Sexy” on her newest album. The Grammy-winning singer-songwriter’s seventh album, “Renaissance,” was released to critical acclaim in July and samples iconic house and disco artists. One song, “Alien Superstar,” features a riff similar to the 1991 British pop band Right Said Fred’s hit “I’m Too Sexy.” Whereas Right Said Fred sang, “I’m too sexy for my shirt,” Beyoncé sings, “I’m too classy for this world” and “I’m too classy to be touched.” The two Fairbrass brothers who make up Right Said Fred are credited as songwriters. ...

Elon Musk’s politics are dividing consumers

12Jul

By Gloomberg NewsNo Comments

Business

Elon Musk’s politics are dividing consumers

Washington, DC CNN — Jason Simon placed an order for a Tesla Model 3 this April, eager to own an electric vehicle. He heard from Tesla in June that his car was ready, but he backed out of the purchase, losing the $250 order fee he paid. Simon told CNN Business his feelings changed this spring after Tesla CEO Elon Musk struck a deal to buy Twitter. Musk has since backtracked and indicated that he wants out of the deal to purchase the social media company. Simon is one of many electric vehicle buyers who have developed new, stronger feelings about Musk and Tesla in recent weeks. Driving a Tesla has long been a way for consumers to signal values on the environment and sust...