Opinion by Steven Hassan for CNN Business Perspectives In 1974, I was recruited into a cult. Known as the Unification Church, but often referred to as the Moonies, the group was — and still is — a far-right cult founded by the Korean cult leader Sun Myung Moon. The Moonies believe that Moon was greater
Continue Reading Opinion by Steven Hassan for CNN Business Perspectives In 1974, I was recruited into a cult. Known as the Unification Church, but often referred to as the Moonies, the group was — and still is — a far-right cult founded by the Korean cult leader Sun Myung Moon. The Moonies believe that Moon was greater
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By Peter Valdes-Dapena, CNN Business Rolls-Royce, the British manufacturer of very large and very expensive cars and SUVs powered by 12-cylinder engines, announced Wednesday that it will stop selling gasoline powered vehicles by 2030. From then on, Rolls-Royce will be all electric. The automaker also announced the name of the first electric Rolls-Royce, the Spectre,
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By Julia Horowitz, CNN Business Technology stocks dropped sharply on Tuesday in a painful trading session that led the Nasdaq Composite to its worst day since March. The biggest US companies logged major losses. Apple shed 2.4%, while Microsoft fell 3.6%, Amazon lost 2.6% and Facebook dipped 3.7%. Chipmakers Intel and Nvidia also took a
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By Charles Riley, CNN Business British motorists desperate for fuel found service stations still closed and long lines at those with gasoline and diesel on Wednesday as the UK government prepared to deploy soldiers in an effort to end days of shortages. The UK military has put 150 tanker drivers on standby to help deliver
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By CNN Business The-CNN-Wire™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.
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By Jordan Valinsky, CNN Business It’s that time of the year again: Today is National Coffee Day. This year’s commemoration arrives just as Americans are getting back to their coffee drinking habits, according to the National Coffee Association. Coffee consumption has rebounded to pre-Covid levels thanks to easing health safety restrictions and customers growing more
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By Michelle Toh, CNN Business Evergrande has raised $1.5 billion in much needed cash. But that may do little to help it meet a new bond interest payment due Wednesday. The Chinese real estate developer has agreed to sell off part of its stake in a local bank for nearly 10 billion yuan (about $1.5
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By Oliver Darcy, CNN Business The office of Vice President Kamala Harris is vexed with “The View” after the false Covid-19 positive tests revealed just before Harris was to appear on the show last week sent the program into chaos, people familiar with the matter told CNN on Tuesday. One of the people explained that
Continue Reading By Oliver Darcy, CNN Business The office of Vice President Kamala Harris is vexed with “The View” after the false Covid-19 positive tests revealed just before Harris was to appear on the show last week sent the program into chaos, people familiar with the matter told CNN on Tuesday. One of the people explained that
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By Chris Isidore, CNN Business United Airlines announced Tuesday that only 593 of its workers face dismissal for not complying with the requirement to get a Covid-19 vaccine. That is less than 1% of its 67,000 US workers who are covered by the rule. About 2,000 other employees, or less than 3% of the workforce,
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By Kathryn Vasel, CNN Business Even in the face of a global pandemic, women continued to make strides in corporate America last year. But they’re also burning out in higher numbers. A new report from McKinsey & Company and LeanIn.org said women’s representation improved across most of the corporate pipeline in 2020. The annual report
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By Matt Egan, CNN JPMorgan Chase CEO Jamie Dimon says America’s largest bank is once again preparing for a potential US default even though he expects Congress to avoid that “potentially catastrophic” event by lifting the debt ceiling. In an interview with Reuters on Tuesday, Dimon said JPMorgan has begun scenario-planning for how a possible
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By Nathaniel Meyersohn, CNN Business A National Labor Relations Board judge is expected to review a complaint Wednesday that Amazon last year illegally fired two corporate employees who had been vocal critics of the company. An administrative law judge is scheduled to hear the charges, which were filed with the NLRB in October by a
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By Anneken Tappe The US stock market took it on the chin again Tuesday, plummeting on worries about sustained high inflation that pushed bond yields higher. The debt ceiling debate raging in Washington didn’t help market sentiment either. The Dow dropped some 600 points at its low-point, and finished the day down 569 points, or
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By Walé Azeez, CNN Business The United Kingdom is suffering from fuel shortages, gaps on supermarket shelves, rising inflation and slowing economic growth. Prime Minister Boris Johnson insists he isn’t worried — but should he be? Johnson has in recent days brushed aside concerns about snarled supply chains and price hikes, saying they are consistent
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By Matt Egan, CNN Business Democratic Senator Elizabeth Warren announced Tuesday that she will oppose Federal Reserve Chairman Jerome Powell’s renomination, making her the highest-profile lawmaker to do so. “Your record gives me grave concern. Over and over you have acted to make our banking system less safe. And that makes you a dangerous man
Continue Reading By Matt Egan, CNN Business Senator Elizabeth Warren on Monday urged the Securities and Exchange Commission to launch an insider trading investigation into transactions by high-level officials at the Federal Reserve. The Massachusetts Democrat called for the agency to conduct a “sweeping review of all securities trades” by Fed officials to determine if they violated
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By Matt Egan, CNN Business Americans should brace for sticker shock on home heating costs as temperatures drop this fall and winter. Prices for natural gas, the most common way to heat homes and a leading fuel source for generating electricity, have surged more than 180% over the past 12 months to $5.90 per million
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By Matt McFarland, CNN Business A wider group of Tesla owners who paid up to $10,000 for what the company calls its “full self-driving” software can now ask the automaker for access to a test version of the feature. But they’ll first have to show that they’re a sufficiently safe driver by allowing Tesla to
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