By Peter Valdes-Dapena, CNN Ford has some interesting ideas on what self-driving cars might soon be able to do. Besides freeing us from the tedium of commuting, the company envisions cars that could repossess themselves. According to a document recently published on the United States Patent and Trademark Office website, Ford said it is considering
Continue Reading By Danielle Wiener-Bronner, CNN Business The Raspberry Rally Girl Scouts cookie, a raspberry-flavored version of the beloved Thin Mint, was always supposed to be a limited edition item. Just not this limited. The new Girl Scouts cookie sold out in hours. Now, people desperate to try it can search eBay. The Girl Scouts would really
Continue Reading By Olesya Dmitracova, CNN Russia could find itself with no money as soon as next year and needs foreign investment, outspoken Russian oligarch Oleg Deripaska has said. “There will be no money already next year, we need foreign investors,” he said at an economic conference in Siberia Thursday, according to comments reported by TASS, a
Continue Reading By Michelle Toh and Gawon Bae, CNN Kakao, one of South Korea’s top internet giants, has doubled down on its quest to take control of SM Entertainment, the iconic K-pop music agency. The tech firm announced Tuesday that it would seek to buy up to 35% of the music label, just days after a previous
Continue Reading By Michelle Toh and Richard Quest, CNN The billionaire mastermind behind some of the world’s biggest K-pop stars is pushing back on accusations that he’s trying to monopolize the Korean music industry, just days before a major potential deal is expected. Bang Si-Hyuk, chairman of HYBE, the management agency behind bands including BTS and NewJeans,
Continue Reading By Anna Cooban, CNN Shares in some of Indian billionaire Gautam Adani’s companies soared Friday after a US private equity firm agreed to invest nearly $1.9 billion in his embattled conglomerate. The Adani Group said Thursday that GQG Partners had bought $1.87 billion of stock in secondary market trades across four of its companies. Shares
Continue Reading By Chris Isidore, CNN Norfolk Southern CEO Alan Shaw sold $448,000 worth of the company’s stock this week, a month after the toxic train derailment in East Palestine, Ohio, that is still being cleaned up. Shaw’s stock sale came the same week the company announced Shaw had personally set up a $445,000 scholarship endowment fund
Continue Reading By Nimi Princewill and Stephanie Busari, CNN Nigeria’s botched attempt to replace its banknotes has been declared invalid by the country’s Supreme Court. In a ruling Friday, the country’s highest court said a presidential directive to discontinue the use of old naira notes following a redesign was illegal. The court said the old banknotes should
Continue Reading By Nicole Goodkind, CNN About 99% of all S&P 500 companies have reported their fourth quarter earnings and the results, particularly for tech companies, are underwhelming. Companies listed in the S&P 500 index beat analysts’ earnings estimates by an average of just 1.3% last quarter. For context, that’s way down on the index’s 5-year average
Continue Reading By Paul R. La Monica, CNN There have been a LOT of changes on Wall Street since I first joined CNN in November 2001. The Dow was trading just below 10,000 at the time. It’s now a little above 33,000. And some of the companies that were still among that blue chip average are no
Continue Reading By Philip Wang and Kathleen Magramo, CNN The United States on Thursday added two subsidiaries of Chinese genetics company BGI to a trade blacklist over allegations it conducted genetic analysis and surveillance activities for Beijing, which Washington says was used to repress ethnic minorities in China. The US Department of Commerce, which oversees export controls,
Continue Reading By Peter Valdes-Dapena, CNN Business Following an issue with a battery fire during testing, Ford will restart production of its popular F-150 Lightning electric pickup on Monday, March 13, the company announced Thursday. By then, the truck will have been out of production for about a month. During pre-delivery inspections, one of the trucks caught
Continue Reading By David Goldman, CNN Exxon was aware of multiple complaints of hangman’s nooses on display at its Baton Rouge, Louisiana, complex, but the oil company failed to properly investigate the incidents or take action to prevent them from happening again — which they did — according to a lawsuit filed Thursday by the US Equal
Continue Reading By Chris Isidore, CNN A FedEx plane was only about 150 feet off the ground when its pilots realized a Southwest jet was in the process of taking off on the same runway, and aborted its landing to avoid a potentially catastrophic fatal accident last month, federal safety investigators reported Thursday. The report was from
Continue Reading By Hannah Rabinowitz, CNN Deputy Attorney General Lisa Monaco announced a new effort by the Justice Department on Thursday to target corporate sanctions evasion and other financial crimes that implicate national security. “To address the increasing intersection of corporate crime and national security, the Department is today announcing significant restructuring and resource commitments within the
Continue Reading By Hannah Rabinowitz, CNN Deputy Attorney General Lisa Monaco announced a new effort by the Justice Department on Thursday to target corporate sanctions evasion and other financial crimes that implicate national security. “To address the increasing intersection of corporate crime and national security, the Department is today announcing significant restructuring and resource commitments within the
Continue Reading By Danielle Wiener-Bronner, CNN Calls to boycott Hershey are spreading on Twitter in response to the chocolate company’s International Women’s Day Canadian campaign, which includes a trans woman. It’s the latest example of a brand generating a strong but mixed reaction to a promotional campaign that touches on cultural or societal issues. Fae Johnstone, a
Continue Reading By Anna Bahney, CNN Mortgage rates shot up for the fourth consecutive week, as inflation concerns remain. The 30-year fixed-rate mortgage averaged 6.65% in the week ending March 2, up from 6.5% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 3.76%. Rates had been trending
Continue Reading By Nathaniel Meyersohn, CNN Big retailers say consumer demand is starting to buckle from the strain of inflation and customers are making changes in how they shop. Target, Best Buy, Macy’s and other chains say shoppers have pulled back on discretionary goods like clothing, electronics and home improvement. They have shifted their spending to paying
Continue Reading By Allison Morrow, CNN Silvergate Capital, a dominant lender to cryptocurrency firms, is spiraling. The bank’s shares fell more than 55% Thursday after it told the Securities and Exchange Commission in a filing Wednesday night that it won’t be able to file its annual report on time and that it is evaluating its ability to
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