By Moira Ritter, CNN Business The director of the United Nations’ World Food Programme is still pleading with the world’s richest individuals to help in the fight against the world hunger crisis. On CNN’s “New Day” Tuesday, UN Food Programme Director David Beasley acknowledged the controversy he found himself in last week when he chastised
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By Chris Isidore, CNN Business Canceled flights, packed planes, rising fares and violent outbursts are the new normal for air travel. Flying is getting worse for both passengers and crews. The problems run deeper than the operational meltdowns that caused Southwest and American Airlines to cancel thousands of flights over four-day periods in recent weeks,
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By Julia Horowitz, CNN Business For investors, the appeal of China has always been clear. Despite a long list of political risks, it’s the world’s second-largest economy — home to a massive pool of consumers and the fastest expansion of the middle class in history. But in the past 12 months, there’s been a significant
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By Laura He and Yong Xiong, CNN Business China is telling families to stock up on food and other daily essentials as bad weather, energy shortages and Covid-19 restrictions threaten to disrupt supplies. The country’s Ministry of Commerce late Monday issued a notice directing local governments to encourage people to stockpile “daily necessities,” including vegetables,
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By Moira Ritter, CNN Business Facebook announced its company rebrand just last week, but a little-known cryptocurrency is already rallying in anticipation of an expanding metaverse. On Saturday, mana, a gaming cryptocurrency used to buy and sell virtual land, surged to a record high of $4.16, more than 400% above where it was valued earlier
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By Ramishah Maruf, CNN Business Billionaire Charlie Munger’s controversial plans for a massive, windowless dorm at the University of California, Santa Barbara has left many wondering — how is this even possible? The answer is at the University of Michigan, where the Munger Graduate Residence Hall houses more than 600 graduate students in 6 to
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By Ramishah Maruf, CNN Business Billionaire Charlie Munger is bankrolling the design of a massive dormitory at the University of California, Santa Barbara. The $1.5 billion project comes with a major catch — 94% of the dorm’s single occupancy rooms are in the interior of the building, and have no windows. A consulting architect on
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By Chris Isidore, CNN Business Pfizer reported that earnings and sales more than doubled in the past quarter, and it raised its outlook for results the full year, thanks greatly to its Covid-19 vaccine. The company reported adjusted earnings of $7.7 billion, up 133% from a year earlier. Revenue soared to $24.1 billion, up 134%.
Continue Reading By Chris Isidore, CNN Business Pfizer reported that earnings and sales more than doubled in the past quarter, and it raised its outlook for results the full year, thanks greatly to its Covid-19 vaccine. The company reported adjusted earnings of $7.7 billion, up 133% from a year earlier. Revenue soared to $24.1 billion, up 134%.
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By Diksha Madhok, CNN Business As Covid-19 wreaked havoc around the world last year, the 39-year-old son of an Indian billionaire was laying the groundwork for a plan he hoped would eventually end the pandemic. Adar Poonawalla — the CEO of Serum Institute of India (SII), the world’s largest vaccine maker — pumped hundreds of
Continue Reading By Diksha Madhok, CNN Business As Covid-19 wreaked havoc around the world last year, the 39-year-old son of an Indian billionaire was laying the groundwork for a plan he hoped would eventually end the pandemic. Adar Poonawalla — the CEO of Serum Institute of India (SII), the world’s largest vaccine maker — pumped hundreds of
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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. “The entire nation is watching” the Virginia governor’s race, Republican candidate Glenn Youngkin told an audience in Richmond on Monday as he urged voters to help him defeat Democrat Terry
Continue Reading 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. “The entire nation is watching” the Virginia governor’s race, Republican candidate Glenn Youngkin told an audience in Richmond on Monday as he urged voters to help him defeat Democrat Terry
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By Anneken Tappe, CNN Business Regulators have long been circling cryptocurrencies. Now they have a new target: stablecoins. A Monday report from the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency urged Congress to slap bank-like rules on the assets. The selling point
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Opinion by Matt Damon and Gary White for CNN Business Perspectives A global shift is happening. Governments are increasingly allocating resources to energy alternatives. Consumers are demanding that companies take active measures to protect the environment through carbon offsets and recyclable packaging. Investors are integrating environmental, social, and governance (ESG) objectives into their investment decisions
Continue Reading Opinion by Matt Damon and Gary White for CNN Business Perspectives A global shift is happening. Governments are increasingly allocating resources to energy alternatives. Consumers are demanding that companies take active measures to protect the environment through carbon offsets and recyclable packaging. Investors are integrating environmental, social, and governance (ESG) objectives into their investment decisions
Continue Reading Opinion by Matt Damon and Gary White for CNN Business Perspectives A global shift is happening. Governments are increasingly allocating resources to energy alternatives. Consumers are demanding that companies take active measures to protect the environment through carbon offsets and recyclable packaging. Investors are integrating environmental, social, and governance (ESG) objectives into their investment decisions
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By Jordan Valinsky, CNN Business A digital currency based off the popular Netflix series “Squid Game” is trading at $0 after its creators cashed out, effectively stealing an estimated $2.1 million from investors. The cryptocurrency, appropriately called SQUID, surged as high as $2,861 before falling to $0 as of Monday, according to CoinMarketCap. The scam,
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By Danielle Wiener-Bronner, CNN Business Coca-Cola has acquired sports-drink maker BodyArmor in a bid to steal market share from Pepsico-owned Gatorade. This is Coca-Cola’s largest brand acquisition, according to a company spokesperson. The beverage giant first took a 15% stake in BodyArmor in 2018. It’s taking control of the remaining part in a $5.6 billion
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By Paul R. La Monica, CNN Business Hertz has made a lot of headlines lately thanks to its deals with Tesla and Uber. Wall Street has noticed, too. But rival rental car company Avis Budget is doing even better. Hertz stock, which currently is listed on Nasdaq’s bulletin board and hopes to return to the
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