By Paul R. La Monica, CNN Business The bloodbath in the cryptocurrency market is taking a gigantic toll on online brokerage stocks Robinhood and Coinbase. Shares of both companies, which each went public last year, slid Monday to new all-time lows. Robinhood was down 1% in afternoon trading but was well off its earlier lows.
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By Ramishah Maruf, CNN Business A cruise ship heading to Miami changed course to the Bahamas Saturday after a US judge issued an arrest warrant for the ship due to unpaid fuel bills. If the Crystal Symphony had continued course to Miami, it would have been seized by authorities. So it headed to Bimini instead,
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By Brian Fung, CNN Business A bipartisan group of attorneys general sued Google on Monday, alleging that the technology giant has used “dark patterns” and deceptive practices to track users’ physical location even when those users have made efforts to block Google from doing so. The parallel lawsuits by the District of Columbia, Texas, Indiana
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By David Goldman, CNN Business Abigail Disney, a longtime critic of her family’s business, is taking her fight to Disney’s turf: The big screen. The activist granddaughter of Disney co-founder Roy Disney (Walt’s brother) has made a movie lambasting the way the Walt Disney Co. treats its theme park employees. Abigail Disney co-directed “The American
Continue Reading By David Goldman, CNN Business Abigail Disney, a longtime critic of her family’s business, is taking her fight to Disney’s turf: The big screen. The activist granddaughter of Disney co-founder Roy Disney (Walt’s brother) has made a movie lambasting the way the Walt Disney Co. treats its theme park employees. Abigail Disney co-directed “The American
Continue Reading By Rachel Metz, CNN Business Facebook has long bet that artificial intelligence can help it with the difficult task of moderating posts from its billions of users. Now its parent company is taking a step that could move it closer to that elusive goal: building its first supercomputer. Meta on Monday announced its new AI
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By Nathaniel Meyersohn, CNN Business Kohl’s stock surged nearly 35% in midday trading Monday following reports that at least two different buyers are looking to take the retailer private. On Friday, Kohl’s received an unsolicited $9 billion bid to go private from a consortium backed by activist investor Starboard Value LP, according to published sources.
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By Paul R. La Monica, CNN Business Forget about all the boardroom intrigue on “Succession” and “Billions.” Real-life companies are facing a lot more drama than anyone on those popular shows. Struggling companies have one more reason to watch their backs. Several of them now have to contend with pesky activist shareholders — the so-called
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By Sonia Moghe, CNN A Manhattan restaurant is looking into its enforcement of vaccine requirements for indoor dining, after Sarah Palin allegedly dined there indoors while unvaccinated. Palin is in New York City for her defamation trial against the New York Times, which was delayed Monday morning after she tested positive for Covid-19. “She is,
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By Chris Boyette, CNN A Connecticut man has been arrested and lost his job after video surfaced of him yelling at employees of a smoothie shop Saturday, where he claimed his son received a drink with peanut butter, causing a severe allergic reaction sending him to the hospital. According to Fairfield Police, James Iannazzo picked
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By Peter Valdes-Dapena, CNN Business If you picture a typical Rolls-Royce owner, you probably imagine someone with white hair and maybe also white golf shoes. These are, after all, huge, cushy cars designed for comfort, just the sort of thing you’d think rich retirees would enjoy. But if you ask Rolls-Royce customers, the true purpose
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By Jeanne Sahadi, CNN Business If you use payment apps like Venmo, PayPal or CashApp, the new year ushered in a change to an IRS tax reporting rule that could apply to some of your transactions. The new rule, which took effect January 1, doesn’t impose any additional taxes on payment app users. But it
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By Anneken Tappe, CNN Business On a wild day on Wall Street, stocks ended the day higher with a stunning turnaround just before the closing bell. Stocks began the day with a dramatic selloff. US stocks opened in the red as investors worried about the Federal Reserve’s plans to hike interest rates, tensions in Ukraine,
Continue Reading By Chris Boyette, CNN A Connecticut man has been arrested and lost his job after video surfaced of him yelling at employees of a smoothie shop Saturday, where he claimed his son received a drink with peanut butter, causing a severe allergic reaction sending him to the hospital. According to Fairfield Police, James Iannazzo picked
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By Reuters, Sonia Moghe and An Phung A judge on Monday delayed Sarah Palin’s defamation trial against The New York Times by 10 days to February 3, after the 2008 Republican U.S. vice presidential candidate and former Alaska governor tested positive for the coronavirus. The delay was announced by U.S. District Judge Jed Rakoff in
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Opinion by Mark Zandi for CNN Business Perspectives The pandemic continues to call the shots for the economy. Each wave of the virus has done significant damage, with Omicron now hitting the economy hard. December retail sales slumped as households pulled back on spending, including travel, dining out at restaurants and attending Broadway shows. The
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By Samantha Murphy Kelly, CNN Business Many mobile device users in the United States now have access to blazing-fast internet speeds stemming from the rollout of Verizon and AT&T’s new C-band 5G networks earlier this week. While telecom companies have rolled out 5G networks to various locations across the country over the last few years,
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By Peter Valdes-Dapena, CNN Business If you want a Ford Maverick pickup but haven’t placed an order already yet, time’s running out. On Thursday, Ford will stop accepting any new retail orders for the 2022 model year Maverick, company spokesman Michael Levine said in an email. After that, buyers will have to wait until order
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By Julia Horowitz, CNN Business Uncertainty around the Federal Reserve’s plans just drove Wall Street to its worst week since the start of the pandemic. But it’s not the only reason traders are jittery. Investors are starting to tune in to the situation in Ukraine as fears grow that Russian President Vladimir Putin, who has
Continue Reading By Julia Horowitz, CNN Business Uncertainty around the Federal Reserve’s plans just drove Wall Street to its worst week since the start of the pandemic. But it’s not the only reason traders are jittery. Investors are starting to tune in to the situation in Ukraine as fears grow that Russian President Vladimir Putin, who has
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