Key events on the path to student loan forgiveness, from Occupy Wall Street to the 2020 presidential primaries

In September 2011, the Occupy Wall Street movement began. The protest against income inequality, the wealthy and their financial institutions, led by activists "representing 99 percent of Americans," soon led to the Occupy Student Debt Campaign, which directed its ire at the country's skyrocketing tuition costs and debt-fueled higher education system. "Given its younger demographic, for many of the movement's participants and supporters, the burden of student loan repayment was probably their mo

Ultra-rich fueling sales of luxury brands despite inflation and recession fears

Prices for food, gas and travel have soared over the past year – but the rich appear to be shrugging it off and are still fueling sales at luxury companies, where sneakers can go for $1,200 and sports cars easily top $300,000. Companies that cater to the ultra-rich, including Ferrari and the parent companies of Dior, Louis Vuitton and Versace, are reporting strong sales or hiking their profit forecasts. The upbeat results come even as recessionary fears hang over the economy, with Walmart, Best

McDonald's says it's planning to reopen some restaurants in Ukraine

McDonald's said Thursday that it is planning a phased reopening of some of its restaurants in Ukraine, where the company noted other businesses are safely operating. The fast-food company said in a message posted to its website that it will work over the next few months to get product back to the restaurants, bring back employees and physically prepare its locations in Kyiv and western Ukraine to start serving customers again. McDonald's had announced in February that it would pause its operat

Axios to sell itself to Cox Enterprises for $525 million

Jim VandeHei, Co-Founder and CEO of Axios speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, May 3, 2022. Axios is being acquired by Cox Enterprises, the companies said Monday, with plans to expand the digital news site's coverage to include more cities. The deal values Axios at $525 million, according to people familiar with the matter, who asked not to be named because financial terms of the deal weren't disclosed. Axios co-founders Jim VandeHei, Mike Allen a

Higher prices, skimpier portions and apps — how fast-food chains are changing value deals

Fast-food chains are playing up the value of their burgers, pizzas and tacos as inflation squeezes budgets — but expect higher prices, skimpier portions and more deals enticing people to sign up for rewards programs as companies rethink their value strategies. Citing rising costs, Domino's Pizza earlier this year raised the price of its Mix & Match delivery deal from $5.99 to $6.99, and made its $7.99 national carry-out offer available only for digital orders. Burger King removed the Whopper fr

Coca-Cola's earnings top expectations as sales volume recovers from pandemic

Coca-Cola on Tuesday reported quarterly earnings that topped expectations as the beverage giant's sales at restaurants, theaters and other venues recovered from the pandemic. Here's what the company reported, versus what Wall Street analysts surveyed by Refinitiv expected: The Atlanta-based maker of Sprite, Dasani and Minute Maid said it now expects organic revenue growth of 12% to 13% for the full year, up from its previous guidance of 7% to 8%. But it noted that commodity price inflation is

Sen. Lindsey Graham introduces legislation to raise mandatory pilot retirement age to 67

As the country's pilot shortage fuels flight cuts, Sen. Lindsey Graham is introducing legislation that would raise the mandatory retirement age for commercial airline pilots to 67 from 65. The "Let Experienced Pilots Fly Act" would also require pilots over the age of 65 to maintain a first-class medical certification that needs to be renewed every six months. "We've got to get more people in the queue to be pilots, but we also have to adjust our age in a reasonable rational way to keep people

Verizon shares fall after company cuts full-year forecast

Shares of Verizon fell Friday after the company reported second-quarter earnings that fell shy of expectations and trimmed its financial forecast for the year. "Although recent performance did not meet our expectations, we remain confident in our long-term strategy," Verizon CFO Matt Ellis said in a release. The company's stock closed down around 7% at $44.48. Verizon's quarterly results came after AT&T on Thursday said its cash flow in the second quarter was hurt by factors including custome

AT&T shares fall after company says later payments, higher spending are hurting cash flow

A man walks with an umbrella outside of AT&T corporate headquarters on March 13, 2020 in Dallas, Texas. AT&T shares fell Thursday after the company said its cash flow was hurt by customers' later phone payments as it invested in establishing 5G infrastructure. The company said customers have been paying their bills about two days later than they did the same time last year. That impacted cash flow by about $1 billion for the quarter, the company said. "There's clearly some dynamics in the eco

Restaurants are short-staffed, and that's taking a big toll on customers and workers alike

Jeff Rothenberg has grown accustomed to long wait times at restaurants, even when tables are visibly open. "Another restaurant we went to had open seats outside, but when we went to the host, they mentioned that the kitchen was short-staffed," Rothenberg, an operations director at a California-based fintech firm, told CNBC. "So although he had seating, he was going to put us on a 30-minute waitlist to be seated." Rothenberg was on the 30-minute waitlist for nearly an hour, he said. Then, after

Casino CEOs say the industry isn't yet seeing signs of recession, but is prepared for a pullback

Evan Savar and Nabu Reyes, both of Nevada, play blackjack with dealer Leah Prerost at the Red Rock Resort after the property opened for the first time since being closed on March 17 because of the coronavirus (COVID-19) pandemic, on June 4, 2020 in Las Vegas, Nevada. Las Vegas has yet to see signs of a looming recession, according to the CEO of two major casinos. Bill Hornbuckle, the CEO of MGM Resorts International, said at CNBC's Evolve Global Summit on Wednesday that he expects inflation an

Justice Department investigating PGA Tour for possible antitrust violations tied to LIV Golf

PGA Tour logo during the third round of the Travelers Championship on June 24, 2017, at TPC River Highlands in Cromwell, Connecticut. The Justice Department is investigating whether the PGA Tour's actions regarding rival LIV Golf were anti-competitive, the tour confirmed Monday. The investigation, first reported by The Wall Street Journal, comes after the tour last month indefinitely suspended 17 players, including major championship winners Phil Mickelson and Dustin Johnson, after they chose

Frontier urges Spirit to delay vote again, allow shareholders to consider 'best and final' offer

Frontier Airlines has asked Spirit Airlines to further delay a shareholder vote on their planned merger to drum up more support from investors amid a bidding war with rival suitor JetBlue Airways. In a letter sent to Spirit's CEO dated Sunday, Frontier CEO Barry Biffle called the airline's recently sweetened cash-and-stock bid to combine with the fellow budget carrier its "last, best and final" offer and raised concerns about a lack of shareholder support for the deal, first announced in Februa

WWE's Vince McMahon paid more than $12 million to settle sexual misconduct allegations, report says

Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. WWE's Vince McMahon paid more than $12 million to four women over the past 16 years to suppress allegations of sexual misconduct and infidelity, according to a report by the Wall Street Journal. The women were all formerly affiliated with World Wrestling Entertainment, the Journal reported, citing people fa

Levi Strauss hikes dividend as second-quarter earnings exceed expectations

A sign is posted in front of the Levi Strauss & Co. headquarters on April 09, 2021 in San Francisco, California. Levi Strauss on Thursday reported quarterly revenue and earnings that came in above Wall Street expectations, as the clothing company known for its denim said it benefitted from Americans opting for more relaxed dress codes. The San Francisco company increased its quarterly dividend and stood by its guidance for the year. Its shares were up about 4% at $17.08 in after-hours trading.

Dallas Cowboys criticized for announcing partnership with Black Rifle Coffee after mass shooting

Owner Jerry Jones of the Dallas Cowboys attends training camp at River Ridge Complex on July 24, 2021 in Oxnard, California. The Dallas Cowboys are facing a backlash after the football team announced a partnership with gun-themed coffee company a day after the deadly shooting in Highland Park, Illinois. The company, Black Rifle Coffee, says it is veteran-owned and sells products with names including "Silencer Smooth Coffee Rounds," "AK-47 Espresso Blend" and "Murdered Out Coffee Roast." "Plea

Yum Brands says it is close to selling its Russian KFC business

A woman walks near closed KFC and McDonald's restaurants that suspended their business in Russia due to the military invasion of Ukraine, April 16, 2022, in Moscow, Russia. Yum Brands is close to selling its Russian KFC business as part of its plan to exit the country's market, the company announced Tuesday. The company said it plans to fully exit Russia once the KFC transaction is complete. Since March, Yum said it has been redirecting any profits from its Russian operations to humanitarian e

Bed Bath & Beyond names new chief accounting officer in latest executive change as sales plunge

Bed Bath & Beyond on Thursday named a new chief accounting officer, marking another leadership change as the retailer struggles with plunging sales. The company said Laura Crossen will take over as the senior vice president of finance and chief accounting officer, replacing John Barresi, who resigned earlier this month after stepping into the role in May of last year. Crossen has been with the company since 2001, most recently as senior vice president of treasury, tax and finance transformation

CVS removes purchase limit on Plan B pills, says sales have 'returned to normal'

CVS is removing the purchase limit it had put on emergency contraceptive pills following last week's Supreme Court ruling, the chain said Tuesday. The reversal comes as sales have dipped back to normal levels and will be made both in stores and online over the next 24 hours, CVS said. The limit on the emergency contraceptives, commonly known as morning after pills and sold under names including Plan B, had gone into effect on Saturday. It prevented customers from buying more than three at a ti

Juul seeks to extend stay on FDA ban, saying agency did not evaluate all its evidence

Juul Labs is seeking to extend a temporary stay on the Food and Drug Administration's ban of its e-cigarettes, according to a court filing Tuesday. Juul said in the filing that the agency overlooked more than 6,000 pages of data that it provided about the aerosols generated by heating the liquid in its pods and that users ultimately inhale. The FDA had said last week the company's application for market approval gave insufficient or conflicting data about the potential risks of using its produc
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