Money

Japan needs more workers and it can't find them

BOJ Chief: US growth will spur global growth Japan has more jobs than it knows what to do with. Government data published Tuesday revealed that the country’s labor shortage has reached its most extreme level in more than 40 years. Japan now has 1.48 jobs for every applicant. That’s the highest number since 1974, when rapid growth pushed the ratio to 1.53. It also exceeds the labor shortage peak Japan hit during its economic bubble years in theearly 1990s. Related: Japan racks up longest growth streak in over a decade ...

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Denver Post cuts ties with sports writer over Indy 500 tweet

The Denver Post has cut ties with Terry Frei after the journalist tweeted that he was “very uncomfortable with a Japanese driver winning the Indianapolis 500 during Memorial Day weekend.” Frei posted the comment on Sunday, after Takuma Sato became the first Japanese driver to win the race. On Monday, the Post’s president and CEO Mac Tully and editor Lee Ann Colacioppo published a short statement apologizing for the “disrespectful and unacceptable tweet.” They added that Frei no longer works at the paper. Frei had been at The Post for ...

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3 car buying tricks to ensure you get a good deal

The future of cars: Self-driving and electric Come Memorial Day, Labor Day and even the Fourth of July, auto sellers will pull out all the stops with balloons, burgers and bands to get you on their lot and sell you a vehicle. But are those sales for real? For people who buy or lease a car once every five to ten years, it’s hard to know if there’s any real savings in the hype of the holiday sales. If it all comes down to negotiation anyway, are you really getting ...

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Indian billionaire bleeds heavily in telecom price war

India’s richest man on India’s digital age One of India’s richest men is losing heavily in the country’s cutthroat telecom price war. Reliance Communications, the mobile service provider owned by billionaire Anil Ambani, saw its stock price crash by more than 20% on Monday to its lowest level in nearly a year. The sudden stock plunge followed a report by the Economic Times newspaper that the firm, which has borrowed $ 6.5 billion, had missed loan payments to at least 10 banks. “We are in the process of talking to ...

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Computer meltdown may cost British Airways over $100 million

The computer system failure that grounded thousands of British Airways flights over the weekend could cost the airline more than $ 100 million. British Airways canceled all Saturday flights from London’s two biggest airports following the tech meltdown.The outage was caused by a power surge that affected messaging across the airline’s system, and there was no evidence that hackers were to blame, it said. More flights were scrapped on Sunday and long delays and some cancellations continued well into Monday.BA said 75,000 passengers had been affected. The cost of compensating ...

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Russia's first large airliner of the post-Soviet era takes flight

Russia’s first large airliner since the fall of the Soviet Union made its maiden flight Sunday. The Irkut MC-21 is designed to compete with the most popular airliners in the world, the single-aisle Boeing(BA) 737 and Airbus(EADSF) A320. The prototype took flight Sunday morning from the Irkutsk Aviation Plant airfield in Siberia, about 2,600 miles east of Moscow. During the 30-minute flight, the plane reached an altitude of 1,000 meters (roughly 3,300 feet). Oleg Kononenko, the flight’s lead test pilot, reported that the aircraft operated normally. [embedded content] TheMC-21’s maiden ...

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A-Rod said to sign on as ABC News contributor

Alex Rodriguez: Time to say goodbye Alex Rodriguez, the infamous former Yankee player, has just inked a contributor deal with ABC News, a source familiar with the agreement told CNNMoney. The source said A-Rod will make occasional appearances on the ABC shows “Good Morning America,” “World News Tonight,” and “Nightline.” It’s not yet known when Rodriguez will first appear on the network or how long his contract will run. The financial terms of the deal were not disclosed. ABC declined to comment. A representative for Rodriguez did not return a ...

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Trump's first overseas trip: Zero press conferences

Is the Trump administration boxing-out the press? Nine days. Zero news conferences. There’s one thing clear about President Trump’s first trip abroad: He kept the press at arm’s length. “It is unheard of to go overseas for nine days with the President of the United States and have the press corps there … and not take formal questions,” said April Ryan, a CNN political analyst and the White House correspondent for American Urban Radio Networks, on CNN’s “Reliable Sources” on Sunday. Related: Trump, feted and chided abroad, returns to uncertainty ...

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Most Chipotle restaurants hacked with credit card stealing malware

A cybersecurity attack that hit most Chipotle restaurants allowed hackers to steal credit card information from customers, the burrito chain confirmed. The company first acknowledged the breach on April 25. But a blog post on Friday revealed the kind of malware used in the attack and the restaurants that were affected. The list of attacked locations is extensive and includes many major U.S. cities. When CNNMoney asked the company Sunday about the scale of the attack, spokesman Chris Arnold said that “most, but not all restaurants may have been involved.” ...

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