By Brian Fung, CNN Business Amazon is dramatically increasing salary caps for its US-based technology and corporate workforce, in a nod to how the pandemic has exacerbated an already fierce competition for talent nationwide. The e-commerce and cloud computing giant announced in an internal blog post Monday that the company’s maximum base pay in the
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By Jackie Wattles Video by Gabe Ramirez Tim Ellis, an unassuming 31-year-old with glasses who shuffles around his sprawling rocket factory in designer sneakers, has what every space company founder longs for: a seemingly endless well of investors willing to pour money into his company. Relativity Space, the rocket startup Ellis co-founded in 2015 after
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By Jackie Wattles, CNN Business Up to 40 of SpaceX’s Starlink satellites are expected to fall out of orbit thanks to some inopportune timing: The company launched the satellites directly into a solar storm. A batch of 49 Starlink internet satellites were on SpaceX’s latest launch on February 3, and now the company is expecting
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By Rachel Metz, CNN Business Meta, the parent company of Facebook, has a new feature aimed at cutting down on harassment and assault in virtual reality: It will give avatars in its Horizon Worlds social app and Horizon Venues events app an invisible “personal boundary” of four feet to stop others from getting too close.
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By Sean Lyngaas News Corp suffered a “persistent cyberattack,” the company said Friday, and investigators believe Chinese spies may be responsible. Dozens of journalists at the News Corp-owned Wall Street Journal were targeted in the hack, which appeared to focus on reporters and editors covering China-related issues, two people familiar with the matter told CNN.
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By Sara Ashley O’Brien, CNN Business Last year, an improbable organizing effort among Amazon warehouse workers in a central Alabama suburb led to a high-profile push to create what would have been the first US union in Amazon’s history. While the vote indicated the union push had failed, the results were thrown out. Now workers
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By Diksha Madhok, CNN Business The historic collapse in Meta’s shares this week has wiped $31 billion off Mark Zuckerberg’s personal wealth, taking him down three places on Bloomberg’s list of the world’s richest people. He now stands in 10th place on the Bloomberg Billionaires Index, behind Oracle co-founder Larry Ellison and just a few
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By Hannah Ritchie and Jill Disis, CNN Business Billionaire mining magnate Andrew Forrest is taking legal action against Facebook in Australia after he claims the company failed to remove scam advertisements that used his image. Facebook was “criminally reckless” because it did not take “sufficient steps to stop criminals from using its social media platform
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By Jennifer Korn MacKenzie Scott has donated $133.5 million to educational nonprofit Communities in School, an organization that helps students navigate issues inside and outside of the classroom. The billionaire philanthropist’s donation is the largest unsolicited gift in the program’s history. Communities in School works in 2,900 schools in America, supporting students at risk of
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By Clare Duffy, CNN Business Amazon is raising the price of its annual Prime subscriptions from $119 to $139 per year in the United States, the company announced along with its earnings report Thursday. The price of a monthly subscription will also increase from $12.99 to $14.99. The company said it is increasing the price
Continue Reading By Clare Duffy, CNN Business Amazon is raising the price of its annual Prime subscriptions from $119 to $139 per year in the United States, the company announced along with its earnings report Thursday. The price of a monthly subscription will also increase from $12.99 to $14.99. The company said it is increasing the price
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By Sara Ashley O’Brien, CNN Business Wag, a dog-walking startup that once received $300 million from a single investor only to stumble in executing its strategy, is set to go public in a deal valued not much higher than that one investment. Wag said Thursday that it has entered an agreement to go public through
Continue Reading By Rachel Metz, CNN Business Meta, the parent company of Facebook, has a new feature aimed at cutting down on harassment and assault in virtual reality: It will give avatars in its Horizon Worlds social app and Horizon Venues events app an invisible “personal boundary” of four feet to stop others from getting too close.
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By Clare Duffy, CNN Business Meta Platforms, the company formerly known as Facebook, just had its worst trading day in its history as a public company. The company’s shares closed down more than 26% Thursday, shaving off nearly $240 billion from its market value, after a rough earnings report released after trading hours on Wednesday.
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By Jennifer Korn, CNN Business Melinda French Gates may be shifting her approach to how she gives away her vast wealth following her high-profile divorce last year from Microsoft founder Bill Gates. French Gates is said to have decided not to give the bulk of her estimated $11.4 billion fortune to the Bill & Melinda
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By Reuters Nintendo Co Ltd sold 18.95 million Switch video game consoles in the nine months to the end of December, the Japanese company said on Thursday, taking total sales past 100 million and beating the lifetime sales of its Wii console. Although the figure undershot the 24.1 million Switch units sold in the same
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By Michelle Toh, CNN Business Two of the world’s biggest video game companies are feeling the pressure as the console wars heat up. Shares of Sony and Nintendo, the makers of the PlayStation and Switch respectively, stumbled Thursday as the two Japanese giants cut their forecasts for sales of the consoles. The fall comes as
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By Clare Duffy, CNN Business Facebook rattled investors on Wednesday by posting a rare profit decline, driven by the company’s heavy spending on its vision for a so-called metaverse while simultaneously confronting advertising challenges on its existing services. The company, formerly known as Facebook, posted net income of nearly $10.3 billion in the final three
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By Samantha Murphy Kelly, CNN Business Aaron Hommell bought his 3G iPhone 5 in 2014 and kept it for more than seven years, holding onto it even after the screen cracked and a long list of faster models hit the market. Then a year ago, AT&T began sending him emails that the company would be
Continue Reading By Samantha Murphy Kelly, CNN Business Aaron Hommell bought his 3G iPhone 5 in 2014 and kept it for more than seven years, holding onto it even after the screen cracked and a long list of faster models hit the market. Then a year ago, AT&T began sending him emails that the company would be
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