CNN – Business/Consumer

By Laura He, CNN Business Bitcoin tanked again on Tuesday and fell below $30,000 for the first time since late January as China escalated its crackdown on cryptocurrencies. China further curbed mining activity and told major payments platforms and lenders that crypto trading won’t be tolerated. Bitcoin plunged 12% over the past 24 hours. The

By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. New York City is about to become the largest American jurisdiction to implement ranked choice voting for an election. It’s complicated, it’s confusing, and it’s going to take a while

By Danielle Wiener-Bronner, CNN Business Smithfield Foods, one of the country’s top meat processors, has been sued by a consumer advocacy group, which alleges that Smithfield misled the public when it raised an alarm over possible meat shortages in spring 2020. Smithfield temporarily closed some of its facilities as workers got sick with Covid-19 early

By Alexis Benveniste and Fredreka Schouten, CNN The Limetree Bay oil refinery in St. Croix said it would close indefinitely, citing “severe financial constraints” a month after the Environmental Protection Agency ordered an emergency shutdown of the plant, calling it an “imminent and substantial endangerment” to public health on the island. The EPA, which has

What do Jay-Z, A-Rod, Ciara, Serena Williams, Shaq, hedge fund billionaire Bill Ackman, former house speaker Paul Ryan, and Richard Branson all have in common? One word, well, acronym: SPACs.