Capitol Officer Michael Fanone describes the danger he encountered at the hands of the Pro-Trump mob that breached the US Capitol on January 6 during the House select committee hearing.
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By Moira Ritter, CNN Business The United States has sold the only physical copy ever made of the Wu-Tang Clan album “Once Upon a Time in Shaolin” after federal authorities seized it from former pharmaceutical executive Martin Shkreli, who was convicted of fraud in 2017. The Justice Department did not disclose who bought the album
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In his first TV interview since leaving Facebook, former vice president of partnerships strategy Brian Boland reacts to President Biden’s statement that the platform is “killing people.” He says he quit Facebook partly because the company wasn’t doing enough to understand what it has built. “It can impact communities large and small in ways that we don’t understand,” he says.
Continue Reading By Clare Duffy, CNN Business Facebook on Tuesday announced it is temporarily pausing sales of its Oculus Quest 2 virtual reality headsets and recalling a component in around 4 million of the devices, in cooperation with the US Consumer Product Safety Commission. The company is voluntarily recalling the “removable foam facial interfaces” for the devices
Continue Reading US Surgeon General Dr. Vivek Murthy says social media companies have taken positive steps against the sharing of health misinformation but that “it’s not enough” and responds to a Facebook official’s claim that the Biden administration is trying to scapegoat the company after failing to meet their July 4 vaccine goal.
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By Samantha Murphy Kelly, CNN Business Facebook on Tuesday reaffirmed its intention to build an Instagram for kids under 13, despite pressure from lawmakers to back down on the plan, while simultaneously announcing new updates to address concerns about the safety of younger users on its platforms. In a blog post, the company said it
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By Chris Isidore, CNN Business The last time Tesla reported quarterly earnings this far above Wall Street expectations, in October of 2019, it started the stock on one of the most incredible bull runs ever. Not this time. Shares of Tesla were down 3% in early afternoon trading Tuesday, despite a strong second quarter that
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By Nathaniel Meyersohn, CNN Business Walmart will pay for full college tuition and book costs at some schools for its US workers, the latest effort by the largest private employer in the country to sweeten its benefits as it seeks to attract and retain talent in a tight job market. The program includes 10 academic
Continue Reading Opinion by Mark Zandi for CNN Business Perspectives Long-dormant inflation has suddenly come back to life, putting a heavy financial weight on already hard-pressed American families struggling with the economic fallout from the Covid-19 pandemic. But hyperventilated rants about how uncomfortably high inflation is here to stay are misplaced. As the pandemic recedes, so too
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By Alicia Wallace, CNN Business Job growth is outpacing economists’ expectations, and there’s still a long way — and 6.8 million jobs — to go before the nation’s labor market returns to levels seen before Covid-19. Economic recoveries, however, are not created equal, especially during a global pandemic that significantly altered the employment landscape. Many
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By Paul R. La Monica, CNN Business Back in March, people were freaking out about rising long-term interest rates and inflation fears. But now the 10-year US Treasury yield has fallen back again. Does this mean: So much for inflation worries? Maybe higher prices are in fact, to cite Federal Reserve chair Jerome Powell’s favorite
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By Chris Isidore and Gregory Wallace, CNN Business The seats are full on most planes, but in some cases, the fuel tanks are not. At several western US airports, there’s not enough jet fuel to meet the increased demand for leisure travel. That could end up causing some flights to be canceled or force airlines
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By Jordan Valinsky, CNN Business The labels on Campbell’s soup cans are getting their first redesign in about 50 years. Eagled-eyed customers will notice that the famed red and white design remains, but the Campbell’s logo is receiving a “modernized logo scripture,” which includes eliminating the shadow and a slightly changed font that is based
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By Julia Horowitz, CNN Business The economic outlook for rich countries is getting better while developing economies are falling behind. That’s according to the latest forecast from the International Monetary Fund. The organization on Tuesday confirmed its prediction that the global economy will expand by 6% this year. But while growth estimates for countries like
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Jeff Bezos is offering NASA up to $2 billion in a bid to reignite the battle for space between his rocket company Blue Origin and Elon Musk’s SpaceX. CNN’s Kristin Fisher reports.
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By Julia Horowitz, CNN Business Tesla is making strides in its transformation from scrappy upstart to mature carmaker. And it has the numbers to prove it. What’s happening: The electric vehicle company netted a record $1.1 billion in profit during the second quarter. That’s more than double the $438 million it made in the first
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By Matt Egan, CNN Business Home prices are climbing at the fastest pace in history, eclipsing even the boom in the days leading up to the Great Recession. Bidding wars have become common, many are forced to pay all cash and some bids are coming in $1 million over asking. It’s all sparking fears that
Continue Reading By Diksha Madhok, CNN Business Jeff Bezos wants to spot NASA up to $2 billion in a bid to reignite the battle for space between his rocket company Blue Origin and Elon Musk’s SpaceX. The world’s richest man appealed to NASA Administrator Bill Nelson in an open letter Monday, offering to cover billions of dollars
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By Eric Cheung and Hanna Ziady, CNN Business WeChat is suspending all new user registrations until early August, the popular social messaging app announced on Tuesday. In a brief post on social media, WeChat, known as Weixin in China, said the suspension relates to an upgrade of security technology “according to relevant laws and regulations.”
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By Michelle Toh, CNN Business Chinese tech stocks keep getting slammed with a stunningly massive sell-off that has wiped out hundreds of billions of dollars in market value as investors continue to digest Beijing’s widening crackdown on private enterprise. Meituan closed down 17.7% in Hong Kong on Tuesday, eclipsing Monday’s massive 14% loss — making
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