By Diksha Madhok and Sophia Saifi, CNN Business South Korean automaker Hyundai faced controversy this week in India, sparking diplomatic tensions between Seoul and Delhi. India’s Ministry of External Affairs said Tuesday that it summoned the Korean ambassador to express “strong displeasure” over what the agency called an “unacceptable social media post” made by one
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By Matt Egan, CNN Business The Federal Reserve has expressed confidence inflation will get under control soon. Business leaders are not so sure. Nearly 75% of CEOs say upcoming interest rates hikes are unlikely to curb inflation as quickly as the Fed would like because supply constraints and wage hikes will persist, according to a
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By Rhea Mogul, Manveena Suri and Swati Gupta, CNN A college student has become a symbol of resistance in India’s Karnataka state, where religious tensions are rising over the right to wear religious clothing to school. Muskan Khan was attempting to hand in a college assignment in the city of Mandya when she was accosted
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By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. It appears the right-wing media universe supports the “occupy” movement after all. For weeks, Fox, talk-radio, podcasters, and sites like Breitbart have fawned over the Canadian truckers who have crippled
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By Peter Valdes-Dapena, CNN Business If you’re tired of getting random calls from companies claiming to be from “dealer services” and offering you an extended warranty on your car, the Federal Trade Commission is taking aim at some companies accused of making those calls. The FTC has filed suit against American Vehicle Protection Corp. of
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By Sonia Moghe, CNN Former Alaska Governor Sarah Palin took the witness stand Wednesday in her defamation trial against the New York Times. Palin testified for about 15 minutes before court ended for the day. She sued the New York Times and former editorial page editor James Bennet in 2017 over an editorial they published
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By Frank Pallotta, CNN Business Disney+ regained some of its magic on Wednesday with subscriber totals that exceeded Wall Street’s expectations. The streaming service now has 129.8 million subscribers, a gain of nearly 12 million in the company’s fiscal first quarter. Those results beat expectations and were a rebound for the media company after a
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By Matt Egan, CNN Business Oil prices could soar to $120 a barrel if Russia’s crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan. The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world. “Any disruptions to
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By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The traffic to the cancellation page for Spotify Premium has jumped in recent weeks as the audio streaming company faces a wave of backlash over its support for podcaster Joe
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By Paul R. La Monica, CNN Business The priciest Super Bowl commercials will cost a record $7 million this year, according to NBC. To put that into terms many of the big game’s advertisers will understand, that’s about 160 bitcoin or 2,200 ether. Cryptocurrencies will be taking center stage during the ad breaks of Super
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By Matt Egan, CNN Business Sick workers. Computer chip shortages. Supply chain stress. Carrier Global, like countless other companies right now, is navigating a minefield of challenges to get orders out to its customers. Absent these operational headaches, the manufacturing giant estimates it would have been able to ship another $200 million to $300 million
Continue Reading By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The traffic to the cancellation page for Spotify Premium has jumped in recent weeks as the audio streaming company faces a wave of backlash over its support for podcaster Joe
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By Brian Stelter, CNN Business Discovery and AT&T received a long-awaited green light from the Justice Department on Wednesday, driving the two companies closer to completing Discovery’s takeover of WarnerMedia. AT&T is planning to spin off CNN and the rest of WarnerMedia in the coming months, at which point Discovery will merge with WarnerMedia, creating
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By Julia Horowitz, CNN Business Economists and investors have been closely watching climbing producer prices and wages for clues on where inflation is heading. They’re rising, which could add to inflationary pressure in the coming months. But on another front — supply chain backlogs — there are some welcome signs of relief. What’s happening: An
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By Rob North and Chris Liakos Maersk has a front-row seat to global supply chains. It says more trouble is ahead. The supply chain issues that have walloped the global economy and spurred inflation during the coronavirus pandemic are not getting much better, Maersk CEO Søren Skou told CNN Business on Wednesday. “Right now the
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By Christine Romans, CNN Business There’s an uninvited guest coming to your Super Bowl party this year: inflation. Last year’s shindig may have been a casualty of Covid hibernation. This year, with mass vaccinations and more widespread testing, such a get-together is finally possible. And with it comes a grocery bill that reflects the surging
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By Danielle Wiener-Bronner, CNN Business The tide could be turning on consumers’ willingness to pay higher prices, Coca-Cola CEO James Quincey warned Thursday. Consumer goods companies have been steadily hiking prices as their own production costs rise, and so far, shoppers seem to be accepting the increases. Executives at McDonald’s, Chipotle and elsewhere have recently
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By Kathryn Vasel, CNN Business Job listings can be extremely detailed, with long lists of responsibilities and required skills, descriptions of company culture and perks, and numerous other reasons for why you might want to work there. But there’s often one glaring omission: the pay. Only about 12% of postings from US online job sites
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By Peter Valdes-Dapena, CNN Business Americans love Italian cars if they have big price tags and names like Ferrari and Lamborghini. But more mass-market Italian manufacturers like Fiat and Alfa Romeo have struggled to find their way into the hearts of American car buyers. Alfa Romeo does have its ardent fans in the United States.
Continue Reading By Peter Valdes-Dapena, CNN Business Americans love Italian cars if they have big price tags and names like Ferrari and Lamborghini. But more mass-market Italian manufacturers like Fiat and Alfa Romeo have struggled to find their way into the hearts of American car buyers. Alfa Romeo does have its ardent fans in the United States.
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