By Laura He, CNN Business China has locked down a major transportation hub in the south, as the country grapples with its largest nationwide Covid outbreak since April. The lockdown also follows rising cases in Beijing, which reported the country’s first Covid deaths in nearly six months. In recent days, China had begun to ease
Continue Reading By Wayne Chang and Diksha Madhok, CNN Taiwan Semiconductor Manufacturing Company plans to bring its most advanced technology to Arizona, the founder of the chip giant said Monday. TSMC’s plans come as tensions between Washington and Beijing are rising over chips, with President Joe Biden imposing a sweeping set of controls on the sale of
Continue Reading By Frank Pallotta, CNN Business Bob Iger, one of the most successful CEOs in the history of The Walt Disney Company, is returning to once again run the media empire. It’s a shocking development at Hollywood’s biggest company. Bob Chapek, who replaced Iger in 2020 as CEO, is stepping down immediately. “We thank Bob Chapek
Continue Reading By Chris Isidore, CNN Business For travelers getting ready to make their first holiday trips since before the pandemic: prepare for sticker shock. Airfares are way up. US gas prices are higher than they’ve ever been at this time of year. Rates for hotel rooms and rental cars have jumped 12% and 46% respectively from
Continue Reading By Clare Duffy and Paul LeBlanc, CNN Former US President Donald Trump’s Twitter account has been reinstated on the platform. The account, which Twitter banned following the January 6, 2021, attack on the Capitol, was restored after Twitter CEO and new owner Elon Musk posted a poll on Twitter on Friday night asking the platform’s
Continue Reading By Clare Duffy and Paul LeBlanc, CNN Former US President Donald Trump’s Twitter account has been reinstated on the platform. The account, which Twitter banned following the January 6, 2021, attack on the Capitol, was restored after Twitter CEO and new owner Elon Musk posted a poll on Twitter on Friday night asking the platform’s
Continue Reading By Paul R. La Monica, CNN Business Americans are getting ready to celebrate Thanksgiving. But investors in the United States (and the rest of the world for that matter) don’t have much to be grateful for in what is turning out to be a rotten 2022. The S&P 500 has plunged 17% this year, and
Continue Reading By Clare Duffy and Paul LeBlanc, CNN Former US President Donald Trump’s Twitter account has been reinstated on the platform. The account, which Twitter banned following the January 6, 2021, attack on the Capitol, was restored after Twitter CEO and new owner Elon Musk posted a poll on Twitter on Friday night asking the platform’s
Continue Reading By Zoe Sottile, CNN Snoop Dogg is reaching out to new customers: actual dogs. The rapper and entrepreneur is expanding into pet fashion with Snoop Doggie Doggs, his new brand of pet accessories. “If my dogs ain’t fresh I ain’t fresh,” Snoop said in a news release published on Thursday. “These dogs and their apparel
Continue Reading By Frank Pallotta, CNN Business Ticketmaster apologized to Taylor Swift and her fans late Friday night after a ticketing debacle this week that made it difficult for consumers to buy tickets to the pop star’s new tour. “We want to apologize to Taylor and all of her fans — especially those who had a terrible
Continue Reading Story by Nathaniel Meyersohn, Video by John General, CNN Business Way in the back of the grocery store, at the end of the sleepy baking aisle, sits a brand decades past its prime: Jell-O gelatin. Today, Jell-O is served to patients at hospitals. Or schoolchildren throw it around during food fights at lunch and college
Continue Reading Story by Nathaniel Meyersohn, Video by John General, CNN Business Way in the back of the grocery store, at the end of the sleepy baking aisle, sits a brand decades past its prime: Jell-O gelatin. Today, Jell-O is served to patients at hospitals. Or schoolchildren throw it around during food fights at lunch and college
Continue Reading By Zoe Sottile, CNN This might just be the best Black Friday deal we’ve heard yet. Denny’s is selling a $5.99 T-shirt which will grant wearers access to free breakfast for a year, according to a news release published Wednesday. Each T-shirt has a unique QR code sewn directly onto the sleeve, making it easy
Continue Reading By Gabe Cohen, CNN As the first frigid weather of autumn chills the Northeast, many people are faced with a tough decision: deal with the surging costs of heating their homes or live without it. Home heating prices are skyrocketing yet again this winter, up 18% nationwide on top of last year’s 17% spike, according
Continue Reading By Gabe Cohen, CNN As the first frigid weather of autumn chills the Northeast, many people are faced with a tough decision: deal with the surging costs of heating their homes or live without it. Home heating prices are skyrocketing yet again this winter, up 18% nationwide on top of last year’s 17% spike, according
Continue Reading By Jackie Wattles, CNN Eight former SpaceX employees filed labor-law complaints, alleging that Elon Musk’s space company unlawfully fired workers after they wrote company management a letter begging them to publicly condemn Musk’s “harmful” behavior on social media. The former workers allege that SpaceX terminated their employment for participating in “concerted protected activities.” Those protected
Continue Reading By Blake Ellis and Melanie Hicken, CNN Shipping giant Maersk has settled a lawsuit filed by a former US Merchant Marine Academy student who says she was raped while working on the company’s ship when she was 19 years old. The company’s US subsidiary Maersk Line, Limited (MLL) announced the settlement with USMMA graduate Hope
Continue Reading by Reuters Used-car retailer Carvana Co. is cutting 1,500 jobs, or 8% of its workforce, the company said on Friday, amid waning demand for used cars on the back of sky-high prices and supply shortages. Demand for used cars has been negatively impacted by hybrid-working models and higher costs caused by rising interest rates, as
Continue Reading By Jeanne Sahadi, CNN Business Employers are planning to increase their salary budgets by 4.6% next year, the highest expected annual jump in 15 years. That’s according to the latest international survey from consulting firm Willis Towers Watson, which included responses from 1,550 US employers. The survey was conducted from October 3 to November 4.
Continue Reading By Allison Morrow, CNN Business November 2022 is a month that investors, particularly in cryptocurrencies, will never forget. And the worst may be yet to come. Over the past two weeks, the digital asset industry has watched in horror as FTX, the multi-billion-dollar crypto exchange created by one of its biggest and brightest stars, Sam
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