business

Peloton sweetens employee pay incentives as it fights to boost morale

In this photo illustration the Peloton Interactive logo seen displayed on a smartphone screen. Raphael Henrique | Light Rocket | Getty Images Platoon sweetened incentives for its workers with one-time cash bonuses and changes to its stock compensation plan as it fights to hold onto employees and fix its struggling business, according to internal memos …

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Why ‘Minions’ beat ‘Lightyear’ at the box office

Two blockbuster animated franchises went head-to-head at the box office this past weekend. One of them benefited from buzz − and it wasn’t “Lightyear.” In just three days, Universal and Illumination’s “Minions: The Rise of Gru” tallied more than $107 million in domestic ticket sales and topped $200 million globally. its rival, Disney and Pixar’s …

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Shimao, a big Shanghai real estate developer, defaults on debt

Hong Kong CNN Business — Another major Chinese developer has defaulted on its debt, dealing a new blow to the ailing real estate sector in the world’s second largest economy. Shanghai-based Shimao Group failed to pay the interest and principal on a $1 billion bond due Sunday, according to a company filing to the Hong …

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Sydney floods: Climate crisis becomes new normal for New South Wales, Australia’s most populous state

Brisbane, Australia CNN — On a fine day, locals arrive on boats that motor up the Hawkesbury River in New South Wales to dine on the back deck of the Paradise Café. But for the fourth time in 18 months, café owner Darren Osmotherly is rushing to move his equipment to higher ground as floodwater …

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South Africans struggle in the dark to cope with power cuts

JOHANNESBURG (AP) — South Africans are struggling in the dark to cope with increased power cuts that have hit households and businesses across the country. The rolling power cuts have been experienced for years but this week the country’s state-owned power utility Eskom extended them so that some residents and businesses have gone without power …

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Trump media company gets subpoena in federal criminal probe of SPAC deal

Former US President Donald Trump gives the keynote address at the Faith & Freedom Coalition during their annual “Road To Majority Policy Conference” at the Gaylord Opryland Resort & Convention Center June 17, 2022 in Nashville, Tennessee. SethHerald | Getty Images Donald Trump’s media company was subpoenaed by a federal grand jury in connection with …

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UK government faces new boozy scandal as deputy whip quits

LONDON — British Prime Minister Boris Johnson’s government is dealing with another boozy scandal after the deputy chief whip resigned from his post and then was suspended by the Conservative Party over a drunken incident in which he reportedly groped two men at an event. Chris Pincher, whose role was to maintain discipline among Tory …

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Kohl’s real estate sale on the table after deal talks fall apart

People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida. Joe Raedle | Getty Images Kohl’s might not be selling its business after all. But it’s now looking to sell some of its real estate, reversing its prior stance. The retailer on Friday announced it terminated deal talks with The …

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