Category Archives: CNN – Business

Without college football, many other sports will be on the chopping block

Without college football, many other sports will be on the chopping block

College football fans were devastated by the news this week that many of the nation’s top teams will not be playing this fall. The budgets of their schools’ athletic departments could also be decimated. College budgets face a potential $1.6 billion hit as two of the most powerful athletic conferences, the Big Ten and the…MORE

American shopping is back to pre-pandemic levels. That’s a big deal

American shopping is back to pre-pandemic levels. That’s a big deal

Millions of Americans remain unemployed during the coronavirus pandemic and many are struggling to pay their bills. But despite devastation in other parts of the US economy, American consumerism has staged a rapid comeback. US retail sales rose 1.2% in July from the previous month, the Commerce Department reported Friday. Initially, Wall Street wasn’t impressed…MORE

DraftKings gets ready for a strange football season

DraftKings gets ready for a strange football season

Major league baseball is back, albeit with some coronavirus-induced game cancellations, and the NBA and NHL are starting playoffs in bubble cities as a preventive measure. That should be great news for DraftKings — but shares tumbled 5% Friday on downbeat earnings. Shares of DraftKings, a sports gambling company, fell after the company bigger-than-expected loss…MORE

Reluctant shoppers could slow the coronavirus recovery

Reluctant shoppers could slow the coronavirus recovery

Retail sales data from the world’s two largest economies could set the tone on Wall Street on Friday. The first round, from China, suggest the coronavirus recovery could take longer than expected. Retail sales in China declined 1.1% in July compared to the previous year, surprising analysts who had expected a return to growth after…MORE

UK deals ‘devastating blow’ to travel industry with French quarantine

UK deals ‘devastating blow’ to travel industry with French quarantine

Efforts to restart Europe’s mammoth travel and tourism sector have suffered another major setback, after the UK government added the world’s most visited country to its quarantine list. Travelers arriving from France will have to quarantine for 14 days starting on Saturday, according to the latest guidance from the UK Department of Transport, which was…MORE