By Isabelle Jani-Friend and Angela Dewan, CNN Amazon, Google, Ikea and BMW are among some of the world’s biggest companies failing to meet their own proclaimed climate targets and align with international agreements to slash greenhouse gas emissions, a new report claims. The Germany-based NewClimate Institute assessed the climate strategies of 25 major companies and
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By Rachel Metz, CNN Business The Internal Revenue Service is halting a plan that would have required taxpayers to verify their identities with facial recognition software before signing on to its website following backlash from lawmakers and privacy groups. The IRS said in a statement Monday that it will “transition away from using a third-party
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By Matt Egan, CNN Business California Democratic Congressman Ro Khanna is shrugging off potential antitrust issues in the proposed $6.6 billion merger of low-cost carriers Spirit and Frontier Airlines. But he does have one other big concern. “Look, the DOJ should review it,” Khanna told CNN in a phone interview Monday. “But having flown Spirit
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By Anna Bahney, CNN Business How tough is it to afford a home in this wild housing market? A lot depends on how much you earn and how many houses are for sale where you live. Record high prices and record low inventory are creating an affordability crisis for homebuyers, according to a new report
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By Brian Fung, CNN Business Amazon is dramatically increasing salary caps for its US-based technology and corporate workforce, in a nod to how the pandemic has exacerbated an already fierce competition for talent nationwide. The e-commerce and cloud computing giant announced in an internal blog post Monday that the company’s maximum base pay in the
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By Peter Valdes-Dapena, CNN Business Ford shares were down about 1% in trading Monday after the company announced it is suspending or slowing production at several of its North American factories this week due to short supplies of computer chips. Ford is stopping production at its Chicago Assembly plant, which builds Ford Explorer and Lincoln
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By Paul R. La Monica, CNN Business Kids had plenty of Spider-Man, My Little Pony and Peppa Pig toys from Hasbro under the tree during the 2021 holidays. But Hasbro is warning that continued supply chain woes could be a problem going forward. In the fourth quarter, the toy maker found it took three times
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By Paul R. La Monica, CNN Business If you’ve been hurt by the volatile moves in bitcoin lately, you’re in good company. Tesla, run by the world’s richest person, Elon Musk, has been hit by the crypto craziness too. The EV maker disclosed in its annual report to the Securities and Exchange Commission that it
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By Julia Horowitz, CNN Business Politicians are under huge pressure to fight inflation as a rapid uptick in prices hits consumers’ wallets and offsets wage hikes. That could fuel a tougher stance from regulators on mergers, as leaders like US President Joe Biden try to show they’re on the side of anxious voters. “This administration,
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Opinion by Christopher Leonard for CNN Business Perspectives Even the smartest Wall Street investors don’t know if markets will be up or down tomorrow, but they do seem to agree on one thing: The coming year will be a wild and dangerous ride. The roller coaster is already underway. Over the course of one day,
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By Chris Isidore, CNN Business Spirit and Frontier Airlines on Monday announced a $6.6 billion merger, a combination of low-fare carriers that would create America’s fifth-largest airline. The companies have yet to say what brand they’ll fly under or who would lead management of the new airline. The combined company would offer more than 1,000
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By Julia Horowitz, CNN Business Peloton has a target on its back. The company’s exercise bikes were a huge hit early in the pandemic. Now, it’s struggling to maintain its growth as people spend more time outside their homes — and would-be buyers are circling. What’s happening: Peloton’s stock gained 17% on Monday following reports
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By Michelle Toh, Nectar Gan, and CNN’s Beijing bureau, CNN Business “Fight Club” is almost back to its original state in China. As of Monday, the film’s ending has largely been restored on the popular Chinese streaming platform Tencent Video, after fans complained in late January about the complete removal of the iconic final scene.
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By Oliver Darcy, CNN Business Daniel Ek, the chief executive of Spotify, addressed Joe Rogan’s past use of racial slurs on Sunday night, telling staff in a memo that while he found the comments “incredibly hurtful” and inconsistent with company values, he did not believe “silencing” the podcaster was the answer. Ek’s comments come as
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By Ramishah Maruf, CNN Lawmakers are trying to find a solution to two intertwined trends: the rise of Big Tech and the decimation of local news. Sen. Amy Klobuchar chaired a hearing on Capitol Hill last week to address the challenge, and is advancing legislation that would attempt to give local news outlets more leverage
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By Paul R. La Monica, CNN Business Stocks tumbled sharply in January and the market has remained choppy in February. There are worries globally about earnings, inflation, interest rates and Omicron. But some market experts think investors shouldn’t be too concerned. Why? Volatility is normal. And market corrections, defined as a 10% pullback from a
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By Parija Kavilanz, CNN Business Frustrated shoppers are already dealing with unpredictable product shortages and empty shelves at their favorite grocery stores. But if they’re hoping to pivot to a neighborhood convenience store to fill in some everyday necessities, they might be out of luck there, too. Convenience stores typically serve as an ideal substitute
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By Swati Gupta, CNN Lata Mangeshkar, the “nightingale of India” who gave her voice to Indian movies for more than 70 years, was honored at a state funeral Sunday, after she passed away at the age of 92. “Lata Di died at 8:12 a.m. due to multi-organ failure after over 28 days of Covid-19 diagnosis,”
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By Ramishah Maruf and Brian Stelter, CNN Joe Rogan issued an apology on Instagram Saturday after a compilation of the podcaster frequently using the n-word on his podcast spread widely on social media. Rogan used the word more than 20 times in the clips from different podcast episodes, which he said were compiled over a
Continue Reading Reuters Peloton Interactive Inc has drawn interest from potential buyers including e-commerce giant Amazon, according to a person familiar with the matter, as the exercise bike maker struggles to maintain pandemic-fueled growth. Shares of Peloton surged 30% in extended trading on the news, which comes days after activist investor Blackwells Capital urged the company’s board
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