By Krystal Hur, CNN Millions of jobs could be on the chopping block this year, as the Federal Reserve continues its rate-hiking campaign to tame inflation. But the effects of that action likely won’t reverberate evenly across the economy. The Fed has seen some success: Inflation has cooled for eighth consecutive months, according to the
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By Peter Valdes-Dapena, CNN Stellantis chief executive Carlos Tavares has said in the past that the company’s electric Ram pickup truck, while being later to the market than trucks from major competitors, would surpass them in range and capability. On Wednesday, the company put some specific numbers behind the CEO’s claims. While final figures have
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By Catherine Thorbecke, CNN Bob Lee, the former chief technology officer of Square who helped launch Cash App, has died after an apparent stabbing attack in San Francisco. Lee’s death was confirmed by Josh Goldbard, the CEO of his current employer, MobileCoin. Lee joined MobileCoin, a cryptocurrency and digital payments startup, in 2021 as its
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By Samantha Kelly Open up Instagram at any given moment and it probably won’t take long to find crisp pictures of the night sky, a skyline after dark or a dimly lit restaurant. While shots like these used to require advanced cameras, they’re now often possible from the phone you already carry around in your
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By Nicole Goodkind, CNN US stocks have been incredibly resilient this year. In the midst of a banking crisis, historically high interest rates, geopolitical turmoil and heightened recession forecasts, the S&P 500 is up nearly 7% year-to-date. But investors should be wary, warn analysts, because the churn under the surface shows noticeable weakness. The rally
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By Anna Cooban, CNN Amazon plans to shut down global online book store Book Depository after almost two decades. The UK-based bookseller, bought by Amazon in 2011, announced Wednesday that it would cease operations on April 26, but that customers could still place orders until midday UK time on that day. The company will continue
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By Hanna Ziady, CNN Britain’s media and communications regulator Ofcom says it has “significant concerns” that Amazon and Microsoft could be harming competition in the market for cloud services. In a statement Wednesday, Ofcom said it was “proposing to refer” the cloud services market to the Competition and Markets Authority, the UK antitrust regulator, for
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Residents across Boone County and in its cities voted to impose 3% taxes on marijuana sales in their political subdivisions.
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By Marshall Cohen and Kate Trafecante, CNN Fox News said in a court filing Tuesday that it plans to put some of its most prominent executives and TV hosts on the witness stand to testify as part of its defense in the Dominion defamation trial. The right-wing network told the judge it “intends to make
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By David Goldman, CNN Johnson & Johnson is trying once again to use the bankruptcy courts to settle tens of thousands of cases that claim its talc products cause cancer. The pharmaceutical company is now willing to pay $8.9 billion to plaintiffs over 25 years. For a second time, a J&J subsidiary called LTL on
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By Krystal Hur, CNN The home arena for NBA’s Miami Heat is getting rid of FTX in its name, months after the bankrupt cryptocurrency exchange’s fall from grace. Security software company Kaseya acquired naming rights for the formerly named FTX Arena in a $117 million deal. Kaseya Center, the new name, comes into immediate effect.
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By Peter Valdes-Dapena, CNN Business Volkswagen is recalling 143,000 of its big Atlas SUVs in the US because a faulty sensor on the front passenger side can switch the airbag system off under certain conditions. Until the issue can be corrected, VW is advising owners to avoid letting people ride in that seat. The problem
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By Parija Kavilanz, CNN Old Navy, known for its low-priced basic and trendy seasonal clothing, has adopted an interesting sartorial tactic amid sinking sales. In order to get customers excited to shop again at its stores, it is adding pockets to more dresses. Old Navy, owned by Gap Inc., said it is doubling the number
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By Julia Horowitz, CNN The British pound crashed to a record low last fall as investors rebelled against budget plans by former Prime Minister Liz Truss. Now, it’s enjoying a comeback. Sterling hit its highest level against the US dollar in 10 months on Tuesday, topping $1.25 for the first time since June 2022. The
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By Oliver Darcy, CNN The media wedding of the summer is no more. Billionaire right-wing media mogul Rupert Murdoch and Ann Lesley Smith have called off their engagement just weeks after announcing they would be tying the knot, a person familiar with the matter told CNN. Vanity Fair, which was first to report the news
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By Danielle Wiener-Bronner, CNN Klaus Teuber, creator of the blockbuster board game Catan, has passed away. “It is with profound sadness that we at Catan Studio acknowledge the passing of Klaus Teuber, legendary game designer and creator of the beloved board game Catan,” the game publisher’s said in a statement posted to Facebook and other
Continue Reading By Danielle Wiener-Bronner, CNN Klaus Teuber, creator of the blockbuster board game Catan, has passed away. “It is with profound sadness that we at Catan Studio acknowledge the passing of Klaus Teuber, legendary game designer and creator of the beloved board game Catan,” the game publisher’s said in a statement posted to Facebook and other
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By Krystal Hur, CNN Charlie Javice, founder of the buzzy student financial assistance startup Frank, was arrested Monday night and charged by the US Securities and Exchange Commission for allegedly defrauding JPMorgan Chase in the $175 million acquisition of her company. The SEC said in a complaint filed to a New York District Court that
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By Clare Duffy, CNN Business A group of Twitter vendors on Tuesday filed a proposed class action lawsuit alleging that the company has failed to pay tens of thousands of dollars in overdue bills. The four firms — captioning services company White Coat Captioning, consulting group YES Consulting and public relations firms Cancomm and Dialogue
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By Chris Isidore, CNN About 5,000 General Motors white collar employees have taken buyouts, according to GM CFO Paul Jacobson. Jacobson, speaking at an investor conference in New York on Tuesday, disclosed the number of employees who have taken package offered last month. He said that the company will take about a $1 billion charge
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