Party City is filing for bankruptcy

New York CNN — Party City filed for bankruptcy protection on Tuesday, weighed down by competition and years of financial losses. The largest party and Halloween specialty retailer in the United States said in a filing that it has reached an agreement with debt holders to reduce its $1.7 billion debt burden. The company said … Read more

Bud Light and Budweiser are getting a makeover at this year’s Super Bowl

New York CNN — Anheuser-Busch may no longer be the only alcohol brand advertising during the Super Bowl, but it will still have a big presence — even if rivals seize the opportunity after a 33-year drought. The beer company announced Thursday that it will have three minutes of national airtime during this year’s big … Read more

France strikes: Workers walk out in mass protests against plans to raise retirement age

Paris/London CNN — Trains and flights were canceled in France, primary schools were closed and thousands of police officers were deployed as unions staged nationwide strikes on Thursday to protest the government’s plan to raise the retirement age for most workers. Protests in major French cities, including Paris, Marseille, Toulouse, Nantes and Nice, halted transport. … Read more

The Russian war in Ukraine led to a historic food crisis. It is not over yet

London CNN — Grain leaves Ukrainian ports again. Fertilizer prices are falling sharply. Billions of dollars in aid have been mobilized. Yet the world is still in the grip of the worst food crisis in modern history, as the Russian war in Ukraine shakes global farming systems already grappling with the effects of extreme weather … Read more

California is clearing from one storm as it prepares for another

CNN — Days after California was hit by “the most impressive storm in nearly 20 years,” the state — fully saturated in many places — is gearing up for another string of atmospheric river events this weekend, with flooding, hail, strong wind gusts and even funnel clouds possible in spots. FOLLOW THE STORMS HERE >> … Read more

Egg prices exploded 60% higher last year. These food prices also rose

Minneapolis CNN — Eggs, milk, butter, flour… if you made pancakes last year, it would have cost you. Food prices increased in 2022. Grocery prices remain stubbornly high (and nearly double overall inflation) at 11.8% year on year, according to data released Thursday by the Bureau of Labor Statistics. Blame Russia, the weather, illness and … Read more

Repaying Covid loans is a problem for millions of businesses

CNN — At Teddy & The Bully Bar restaurant near downtown Washington, DC, things have never been the same since the pandemic hit. “It’s quite a challenge,” said owner Alan Popovsky. “I will be climbing the hill for quite some time. Probably for the rest of my life.” Due to the pandemic, two of Popovsky’s … Read more

Pension reform France: French workers can retire much younger than most. That’s going to change

London/Paris CNN — The French government plans to raise the official retirement age by two years as part of a long-delayed reform of the French pension system. prompted unions to call nationwide strikes next week. New legislation requires French citizens to work until age 64, rather than their current age of 62, to qualify for … Read more

China’s crackdown on Ant and other tech giants is “essentially” over, a top official says

Hong-Kong CNN — China’s crackdown on tech giants is coming to an end and the country’s economic growth is expected to get back on track soon, a top central bank official said. The crackdown on fintech operations of more than a dozen internet companies is “essentially” over, Guo Shuqing, the Communist Party chief at the … Read more

Premarket Stocks: Here’s what will boost markets this year

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can sign up here. You can listen to an audio version of the newsletter by clicking on the same link. New York CNN — Welcome to the first trading day of 2023. Markets are moving up, but … Read more