Tag Archives: MoneyWatch

Days after exiting its stake in troubled electronic cigarette maker Juul, Altria announced a $2.75 billion investment in rival electronic cigarette startup NJOY. The Marlboro maker gets full ownership of NJOY’s e-vapor product portfolio, the Virginia company said Monday, including its pod-based e-vapor product ACE. “We believe we can responsibly …

The Biden administration’s Affordable Connectivity Program provides low-cost, high-speed internet to individuals who lack access or for whom the cost is too high, but many Americans don’t know that they could be eligible. On Monday, Vice President Kamala Harris is scheduled to highlight the internet access expansion program, also called …

For Sean Miller, a warehouse worker at a food distribution company, being called essential during the pandemic “was one of the most terrifying times of my life.” “Everybody was scared, whether it was workers or employers,” recalled Miller, who works near Syracuse, New York, for Sysco — a major food …

A food-safety sanitation company was fined $1.5 million by the U.S. Department of Labor for employing more than 100 children — some as young as 13 — in dangerous jobs including cleaning “razor-sharp saws” with “caustic chemicals.” The children, who ranged in age from 13 to 17, were found to …

The rapper formerly known as Kanye West told the world last year that he lost $1 billion after severing a partnership with Adidas. Now it turns out Adidas stands to lose even more. The German sportswear brand expects to lose $1.3 billion in sales this year because Yeezy clothes and …

Fireball Cinnamon fans be warned — the mini bottles of the fiery drink you’re picking up at the convenience store do not actually contain any whiskey. In fact, the drink is a malt beverage flavored to taste like whiskey, much to the dismay of Anna Marquez — the Illinois woman …

Microsoft is cutting 10,000 workers over the next eight months, the software giant said in a securities filing Wednesday. The company said the cuts, some of which begin immediately, represent “less than 5 percent of our total employee base.” The company hired rapidly during the pandemic to keep up with …

Investors suffered a brutal 2022, with the S&P 500 tumbling 19% as the Federal Reserve cranked interest rates higher to smother inflation. But 2023 may offer up more misery, with a looming recession providing another dose of risk, according to Morgan Stanley chief U.S. equity strategist Michael Wilson.  The S&P …

Florida lawmakers will move to increase state control of Walt Disney World’s private government, according to a notice published Friday, the latest development in a feud over what law critics have dubbed “Don’t Say Gay.” The notice posted on the Osceola County website says the Republican-controlled statehouse will take up …

Many Americans may be pondering their 2023 goals, and for many that will include buying a new home. Competition in the residential real estate market is unlikely to be as intense next year as it was in 2022, experts told CBS MoneyWatch, as the soaring price of homes and mortgages …