Nike is on sale and its stock is plunging

New York CNN Business — Add Nike to the list of brands and stores that offer discounts on excess merchandise to clear shelves. Nike (NKE) said on Thursday its inventory levels climbed 65% in North America, its biggest market, and 44% overall in the last quarter compared to a year ago. After navigating a limited … Read more

Elon Musk’s texts show how his relationship with Twitter came to an end

CNN — A few days before publicly announcing its investment on Twitter, Elon Musk texted Jack Dorsey. The former Twitter CEO has hinted that he no longer believes in the company he founded, according to new court filings in the legal battle between Musk and Twitter. Musk had quietly started building a large stake in … Read more

Used cars have become unaffordable

New York CNN Business — High prices and rising interest rates are putting used cars out of reach for a growing number of car buyers. That’s bad news for CarMax, the nation’s largest used car dealership. CarMax reported Thursday that its profits fell 54% as the number of cars sold in the quarter fell 6.4% … Read more

Is Beyond Meat beyond saving?

New York CNN Business — Having a frame that bit someone’s nose might be the least of Beyond Meat’s problems. Investors have taken a big bite out of Beyond Meat’s share price as fears grow that the popularity of plant-based foods has peaked. Shares of Beyond Meat (BYND) were around $16 on Wednesday. That’s down … Read more

McDonald’s sells Happy Meals to adults – with a twist

New York CNN Business — The Hamburglar is back at McDonald’s. But this time it’s for adults only. McDonald’s is bringing back its family of recognizable figures in a new Happy Meal for adults, which, yes, includes the toys. Starting Oct. 3, customers can order a Cactus Plant Flea Market Box – a 10-piece Big … Read more