Business

Higher restaurant wages whack profits—some warn more pain is still ahead

[ad_1] Employees prepare orders for customers at a Chipotle Mexican Grill restaurant in Hollywood, California.Patrick T. Fallon | Bloomberg | Getty ImagesCustomers are returning to restaurants in droves, but workers haven't, putting even more pressure on fast-food chains to retain market share and protect profits while navigating a tight labor market.Restaurant executives have painted a bleak picture of staffing challenges to investors on their earnings calls in the last two
Business

The 3 big ways Democrats’ social plan would expand health coverage

[ad_1] President Joe Biden on Oct. 29, 2021 in Rome, Italy.Antonio Masiello | Getty Images News | Getty ImagesInsurance subsidiesThe measure would expand subsidies for health insurance in two ways, according to Cynthia Cox, director of the Affordable Care Act program at the Kaiser Family Foundation.(The federal assistance helps reduce health insurance premiums and other costs for private marketplace plans.)It would preserve a temporary expansion of the subsidies enacted earlier
Business

What those who worked on the car love about it

[ad_1] Chevrolet Corvette Z06 team members from left to right: Aaron Link, lead development engineer; Dustin Gardner, assistant chief engineer, small block; Harlan Charles, product marketing manager; Josh Holder, chief engineer; Tadge Juechter, executive Chief engineer; Kirk Bennion, exterior design manager.Michael Wayland / CNBCDETROIT – General Motors' new 2023 Chevrolet Corvette Z06 marks the latest chapter in the famed American sports car's nearly 70-year history.Those who were intimately involved in
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Energy secretary defends Tesla EV tax credit exclusion

[ad_1] Energy Secretary Jennifer Granholm on Friday defended the Biden administration's proposal to give tax credits for electric vehicles made by unionized automakers, a move that could exclude nonunion Tesla."This president is very, very favorable toward organized labor, because organized labor has raised the standard of living of so many Americans, and we want to make sure that we do everything possible to encourage that business and labor really focus
Business

Top GameStop executive steps down after less than a year on the job

[ad_1] A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021.Carlo Allegri | ReutersOne of the GameStop's newly hired top executives stepped down this week as the video game retailer continues its digital transition.Chief operating officer Jenna Owens has departed her role at GameStop, the company announced in a regulatory filing on Friday. Owens, a former Amazon and Google executive,
Business

Global talent pool helped company avoid U.S. staffing issues

[ad_1] Royal Caribbean CEO Richard Fain told CNBC on Friday that his company hasn't suffered much from U.S. staffing challenges because the cruise line leans on a global talent pool.In an interview on "The Exchange," Fain said jobs at Royal Caribbean are "so desirable" to overseas workers that recruitment is easy, at a time when other companies in the hospitality-related industries have struggled to fill open roles."We really had essentially
Business

FDA authorizes for kids ages 5 to 11

[ad_1] Jamie Blank (L) holds her son, Ari Blank's hand as he receives the Pfizer-BioNTech Covid-19 vaccine from healthcare worker Jen Feinberg (R) at the Jewish Federation/JARC's offices in Bloomfield Hills, Michigan on May 13, 2021.Jeff Kowalsky | AFP | Getty ImagesThe Food and Drug Administration on Friday authorized the use of Pfizer and BioNTech's Covid-19 vaccine for children ages 5 to 11, a move that will make the shots available to
Business

Goldman Sachs is giving hedge fund clients crypto research from data firm The Block

[ad_1] Rafael Henrique | SOPA Images | LightRocket | Getty ImagesGoldman Sachs has stared giving its institutional trading clients research reports from crypto news and data firm The Block.Hedge funds and other clients began receiving the reports Thursday via the investment bank's Marquee digital platform, according to an email obtained by CNBC. The first report available to Goldman clients was an overview of decentralized finance (DeFi) protocols on the Ethereum