By Anna Stewart, CNN Business and Livvy Doherty Roughly a quarter billion more people could be living on less than $1.90 a day by the end of this year due to Covid-19, rising global inequality and the shock of food price increases that have been supercharged by the war in Ukraine, a new report by
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By Matt Egan, CNN Business Bank of America is warning that high inflation poses a credible threat to the economic recovery that began just two years ago. “‘Inflation shock’ worsening, ‘rate shock’ just beginning, ‘recession shock’ coming,” Bank of America chief investment strategist Michael Hartnett wrote in a note to clients on Friday. The warning
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By Frank Pallotta, CNN Business Netflix wants to make it easier for you to recommend the TV shows and films you love. The streaming service introduced a “Double Thumbs Up” button Monday that is “an additional way for members to let us know what types of series and films you want to see more of.”
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By Brian Stelter, CNN Business David Zaslav, the longtime leader of Discovery, sketched out his vision for the newly formed Warner Bros. Discovery in his first global town hall with the new company’s employees on Thursday. Zaslav spoke from the iconic Warner Brothers movie studio lot in California and was seen by employees around the
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By Chris Isidore, CNN Business Boeing is likely to lose about 90 jet orders due to “geopolitical issues” related to Russia’s invasion of Ukraine, the company said Tuesday. The aircraft maker said it is not canceling the orders — yet. But it has placed them in an accounting limbo which it uses when there are
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By Parija Kavilanz, CNN Business Lululemon doesn’t mind if you’ve power walked, danced, stretched or meditated in its clothing. Soon you can trade in your gently used items at any of its US stores. The athleisure company, known for its pricey leggings and yoga pants, said Tuesday it is expanding the resale program it launched
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By Nicole Goodkind, CNN Business Big banks like to stick together on major policy decisions. But as Wall Street grapples with heading back-to-work, a rare chasm is growing between the finance giants. The implications of these choices, and the resulting stratification of policies will likely ripple through the world of finance and out to Main
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By Peter Valdes-Dapena, CNN Business Electric vehicles have reached a key milestone on the road to becoming ubiquitous. That’s because Toyota, America’s best-selling automaker, is now selling one. You might be surprised to learn that Toyota hasn’t, before now, sold a widely available, real electric vehicle in America. But they have not. Not really. Toyota,
Continue Reading By Peter Valdes-Dapena, CNN Business Electric vehicles have reached a key milestone on the road to becoming ubiquitous. That’s because Toyota, America’s best-selling automaker, is now selling one. You might be surprised to learn that Toyota hasn’t, before now, sold a widely available, real electric vehicle in America. But they have not. Not really. Toyota,
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Opinion by Scott Galloway for CNN Business Perspectives It’s been about six months, since we first heard Meta CEO Mark Zuckerberg’s fever dream for a beautiful metaverse. But the metaverse could be so much more than one man’s quest for control over our virtual lives. Most would agree that the metaverse could be a series
Continue Reading Opinion by Scott Galloway for CNN Business Perspectives It’s been about six months, since we first heard Meta CEO Mark Zuckerberg’s fever dream for a beautiful metaverse. But the metaverse could be so much more than one man’s quest for control over our virtual lives. Most would agree that the metaverse could be a series
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By Anneken Tappe, CNN Business America’s inflation problem didn’t abate in March. Prices kept creeping up, hitting a fresh 40-year high, data from the Bureau of Labor Statistics showed Tuesday. The Consumer Price Index rose 8.5% for the year ended in March, not adjusted for seasonal swings. That outpaced February’s elevated reading of 7.9% and
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By Anneken Tappe, CNN Business Americans have been living with soaring prices for months. New inflation data set to be released Tuesday is expected to show that March marked yet another multi-decade high. Having already hit 7.9% in February, economists are hopeful that rampant inflation peaked in the first quarter. But there’s plenty that will keep prices elevated for
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By Michelle Toh, CNN Business Honda is joining the flurry of global automakers spending tens of billions of dollars to go electric. The Japanese company announced Tuesday that it would invest approximately 5 trillion yen ($39.8 billion) to electrify its lineup over the next decade, including software and research and development. It wants to launch
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By Laura He, CNN Business Factories shut down, new model launches delayed and sales plunging. China’s huge car market has been thrown into disarray by the country’s latest Covid surge, with stringent lockdowns across several cities hitting vehicle production. China’s worst Covid outbreak in two years has prompted authorities to ramp up the country’s zero-Covid
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By Danielle Wiener-Bronner, CNN Business A deadly and highly infectious avian flu is forcing US farmers to kill millions of egg-laying hens, reducing the country’s egg supply and driving up prices. On Thursday, retailers paid between $2.80 and $2.89 for a dozen large grade A white eggs in the Midwest, according to the USDA’s daily
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By Brian Stelter, CNN Business Starting in May, MSNBC’s highest-rated star Rachel Maddow will be hosting her 9 p.m. Eastern show just one day a week — on Mondays — while she pivots to other projects for parent company NBCUniversal. The new schedule has an end-of-an-era feel for MSNBC, since so much of the channel
Continue Reading Opinion by Senator Tom Carper and Senator John Cornyn for CNN Business Perspectives It’s been more than a month since Russia invaded Ukraine — with atrocities and tragedies playing out day after day across social media and televisions around the world. The US, our European allies and our global partners are completely aligned in our
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By Matt McFarland, CNN Business Frugal Tesla Guy, a YouTube personality focused on Tesla, gives his passengers a speech to prepare them before he turns on “full self-driving.” “I need you to understand that I have complete and total control. I’m behind the wheel. I have access to the brake, the accelerator and the steering
Continue Reading Opinion by Patrick Gaspard for CNN Business Perspectives President Biden has led a successful campaign to cut Russia off from the global economy, with asset freezes, export controls and a ban on Russian oil imports. While this has had a devastating impact on the Russian economy, there’s no denying that Americans are feeling the reverberations
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