By Frank Pallotta, CNN Business Hollywood loves a comeback story, and MoviePass, one of the industry’s most notorious flops, is trying to write one of the most epic sequels in history. The revolutionary movie ticketing service, which sent shock waves through Hollywood in 2017 before collapsing in 2019, has risen from the dead after its
Continue Reading By Chris Isidore, CNN Business The only thing that climbed as high as gas prices earlier this year was the disapproval of President Joe Biden, as Americans blamed him for record prices at the pump. But Biden had relatively little control over the prices set primarily by global markets. If Biden got too much blame
Continue Reading By Anna Bahney, CNN Business Rents hit a record high in July for the 17th month in a row, putting ever more pressure on renters. The national median rent hit a new record high of $1,879 a month in July, up 12.3% from a year ago, according to Realtor.com. While rents have been hitting new
Continue Reading By Michelle Toh, CNN Business People on the frontlines of Europe’s gas crisis are scrambling to get solar panels for their homes and businesses as they confront a “perfect storm” that’s sending energy prices to record levels. In the first six months of this year, Germany saw a 22% jump in the installation of solar
Continue Reading By Rhea Mogul, Junko Ogura and Tetsu Sukegawa, CNN Prime Minister Fumio Kishida said Wednesday Japan will restart idled nuclear plants and consider developing next-generation reactors, in a policy reversal that will see the nation turn back toward atomic energy as fuel prices soar worldwide. Kishida told reporters he had instructed officials to come up
Continue Reading By Diksha Madhok, CNN Business Asia’s richest man has launched a hostile bid to take over an influential broadcaster in India and gain a firmer footing in the country’s vibrant media space. AMG Media Networks, a unit of billionaire Gautam Adani’s conglomerate, said in a statement late on Tuesday that it has acquired a 29%
Continue Reading By Alicia Wallace, CNN Business Business activity at private US companies in early August dropped off at some of the sharpest rates seen since the beginning of the pandemic as rising interest rates and high inflation crimped consumer spending, according to data released Tuesday. The latest S&P Global preliminary flash composite purchasing managers index, or
Continue Reading By Paul R. La Monica, CNN Business Wall Street analysts are typically — to quote an old REM song — shiny happy people. They don’t often issue overly skeptical research reports on the companies they cover. And they tend not to ask executives tough questions on earnings calls, leaning toward a more “Great quarter, guys!”
Continue Reading Martha C. White for CNN Business The pandemic lockdowns might be in the rearview mirror, but rising inflation has ushered in the return of “micro” weddings, Zoom ceremonies —Â and disinvited guests. Couples blindsided by wedding budgets that have blown up by as much as 100% are scrambling to economize by any means possible in order
Continue Reading By Matt Egan, CNN Business Drivers have something to smile about: A historic drop in gasoline prices. The national average for a gallon of regular gas has dropped every single day since soaring to a record high of $5.02 a gallon on June 14, according to AAA. This 70-day streak of falling prices at the
Continue Reading By Chris Isidore, CNN Business The only thing that climbed as high as gas prices earlier this year was the disapproval of President Joe Biden, as Americans blamed him for record prices at the pump. But Biden had relatively little control over the prices set primarily by global markets. If Biden got too much blame
Continue Reading By Anna Bahney, CNN Business New home sales plunged in July as high prices and mortgage rates pushed buyers to think twice about closing the deal. Sales of newly constructed homes fell by 12.6% in July from June and were down 29.6% from a year ago, according to a joint report from the US Department
Continue Reading By Paul R. La Monica, CNN Business The pandemic lift for Zoom has gone poof. Shares of the video conferencing company plunged more than 15% Tuesday after Zoom reported revenue for the second quarter that missed analysts’ forecasts and issued a weak outlook for sales and profit in the third quarter. Zoom’s stock was a
Continue Reading By Julia Horowitz, CNN Business The outlook for inflation and the global economy hinges in large part on where energy prices head next — which makes recent turbulence in natural gas markets a worrying development. What’s happening: European natural gas prices finished at a record on Monday. They remain close to that level on Tuesday
Continue Reading By Laura He, CNN Business China is mining and importing more coal as its worst heatwave and drought in six decades hits hydroelectricity, the nation’s second biggest source of power. The country’s crucial Yangtze River has dried up in parts because of extreme heat and scant rainfall. The drought has impacted six provinces along the
Continue Reading By Ross Levitt, CNN More than 1,300 US flights have been canceled as of Monday night and more than 7,400 flights have been delayed, according to the flight tracking website FlightAware. Nine hundred US flights were canceled on Sunday, according to FlightAware. Dallas-Fort Worth International Airport has been particularly hard hit, with hundreds of flights
Continue Reading By Megan Marples, CNN Years of long hours, understaffed companies and burned-out employees have all led to the latest TikTok trend: quiet quitting. The catchphrase quiet quitting is misleading, however, making some people think it means workers doing the bare minimum at their jobs. This is unequivocally false, said Kathy Caprino, a Connecticut-based women’s career
Continue Reading By Megan Marples, CNN Years of long hours, understaffed companies and burned-out employees have all led to the latest TikTok trend: quiet quitting. The catchphrase quiet quitting is misleading, however, making some people think it means workers doing the bare minimum at their jobs. This is unequivocally false, said Kathy Caprino, a Connecticut-based women’s career
Continue Reading By Jeanne Sahadi, CNN Business The now viral phrase “quiet quitting” is annoyingly imprecise and misleading. Some say it means doing the bare minimum at work or just not going above and beyond. Others say it’s about setting healthy boundaries or not mindlessly buying into ‘hustle culture.’ And then there are those who say it’s
Continue Reading By Chris Isidore, CNN Business The family of an elderly couple killed when the roof of their F-250 pickup collapsed during a rollover accident in 2014 has been awarded a massive $1.7 billion in punitive damages from Ford. The jury appeared to endorse the plaintiff’s arguments that Ford knew of the problem years before the
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