By Peter Valdes-Dapena, CNN Business It wasn’t exactly “The Fast and the Furious” — pretty much the opposite — but the 1988 Oscar winning film “Rain Man” featured cars as an integral part of the story. And the movie’s most famous car, a 1949 Buick Roadmaster, is up for auction. The beige convertible has been
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By Paul R. La Monica, CNN Business It’s a magical world again for Mattel. The toy company won back the rights to make dolls based on Disney’s princess characters, including Frozen’s Elsa and Anna, Jasmine from “Aladdin” along with Snow White, Cinderella, Ariel, Moana and other Disney heroines. Mattel rival Hasbro took over the Disney
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By Celine Alkhaldi, Eoin McSweeney and Hamzeh Noami, CNN Casino operator Wynn Resorts has inked a deal to build a luxury resort in Ras Al Khaimah in the United Arab Emirates. “The planned destination will feature a luxury hotel with more than 1,000 rooms, world-class shopping, state-of-the-art meeting and convention facility, an exclusive spa, more
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By Paul R. La Monica, CNN Business It’s been a little more than a year since the meme mania in GameStop began. It’s shaped up to be, to put it extremely mildly, a wild ride for it and other meme stocks like movie theater chain AMC ever since. GameStop and AMC are up sharply from
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By Jordan Valinsky, CNN Business McDonald’s fans have long been creating menu hacks like using hash browns as a bun. Now the chain is putting some of them on the menu. Beginning January 31 and for a limited time, McDonald’s will sell four menu hacks popularized by its biggest fans. It’s the first-time ever that
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Opinion by Dana Peterson for CNN Business Perspectives Prices are rising for nearly everything, biting into everyone’s income. But the surging cost of food, specifically, hits especially hard, exacerbating the wealth and income disparities between the richest and poorest Americans. The Federal Reserve has been patient throughout the Covid-19 pandemic about achieving full employment to
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By Chris Isidore, CNN Business Many major employers are going ahead with policies to require employees to take steps to combat Covid-19, even if the Supreme Court says they don’t have to do so. A survey by management consultant Gartner of more than 200 major employers last week found 30% still are requiring or will
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By Julia Horowitz, CNN Business The market has churned intensely this week as investors get to grips with expectations that the Federal Reserve will soon begin aggressively hiking interest rates in an effort to cap surging inflation. What’s happening: Trading on Tuesday was another rollercoaster ride, with the S&P 500, Dow and Nasdaq Composite all
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By Paul R. La Monica, CNN Business The Federal Reserve may have a playbook for how it plans to tackle inflation and keep the economy humming along. But as any sports fan knows, the best coaches always have to adapt to what’s happening in the game. Sometimes, the strategy has to change. Investors understandably don’t
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By Chris Isidore, CNN Business Boeing took nearly $4 billion in charges related to problems it had with its 787 Dreamliner, causing losses to soar for the third straight year. The company had already been hit with the problems surrounding the 737 Max, which was grounded for 20 months starting in 2019 following two fatal
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By Chris Isidore, CNN Business Time could be running out for the Chevrolet Bolt, the electric vehicle that only five years ago was positioned as General Motors’ best chance to overtake Tesla. On Tuesday, GM announced a $35 billion investment in EVs by 2025, including $4 billion to build electric versions of its best-selling pickups,
Continue Reading By Paul R. La Monica, CNN Business It’s been a little more than a year since the meme mania in GameStop began. It’s shaped up to be, to put it extremely mildly, a wild ride for it and other meme stocks like movie theater chain AMC ever since. GameStop and AMC are up sharply from
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By Anneken Tappe, CNN Business The Omicron variant put America’s recovery through the ringer. But the post-Thanksgiving timing may mean the economic scorecard for the final quarter of 2021 could still look decent. At least that’s what economists are hoping. Omicron caused infections to skyrocket, businesses to struggle and workers to stay home sick in
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By Nectar Gan and CNN’s Beijing Bureau, CNN Business More than two decades after its release, “Fight Club” has been given a very different ending in China — and this time, the authorities win. Chinese fans of David Fincher’s cult classic were enraged over the weekend when they noticed a version of the movie available
Continue Reading By Chris Isidore, CNN Business Johnson & Johnson, the world’s largest health care products company, reported that sales of its Covid vaccine have accelerated, but they’ll still lag far behind other vaccines for the foreseeable future. Its 2021 sales of its single-dose vaccine came to $2.4 billion, the company reported Tuesday, just short of its
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By Julia Horowitz, CNN Business The pandemic will continue to stoke uncertainty and inflation in its third year, undermining the global recovery from the coronavirus and pushing total economic losses toward $14 trillion. That’s according to the International Monetary Fund, which on Tuesday slashed its global growth forecast for 2022 by half a percentage point
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By Matt Egan, CNN Business Bank of America is handing out $1 billion worth of restricted stock to virtually its entire workforce as the bank seeks to gain an upper hand in the war for talent. In a memo shared exclusively with CNN, Bank of America CEO Brian Moynihan said Tuesday the company is for
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By Robert North, Radina Gigova and Sana Noor Haq, CNN A car that can transform into a small aircraft has passed flights tests with flying colors in Slovakia, developers say. The “AirCar” was awarded an official Certificate of Airworthiness by the Slovak Transport Authority after completing 70 hours of “rigorous flight testing,” according to Klein
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By Brian Stelter, CNN Business None of the headwinds facing legacy broadcast television are strong enough to stop the NFL right now. This past weekend’s four divisional games averaged 37 million viewers at any given time. That’s 20 percent higher than the audience size for the equivalent games last year. The totals now count some
Continue Reading By Robert North, Radina Gigova and Sana Noor Haq, CNN A car that can transform into a small aircraft has passed flights tests with flying colors in Slovakia, developers say. The “AirCar” was awarded an official Certificate of Airworthiness by the Slovak Transport Authority after completing 70 hours of “rigorous flight testing,” according to Klein
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