By Laura He, CNN The yen plunged on Wednesday after the Bank of Japan decided to maintain its ultra-easy monetary policy, defying market expectations that rising inflation could force the central bank to move away from low interest rates. The BOJ kept its yield curve control (YCC) targets unchanged as it concluded a two-day policy
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By Nicole Goodkind, CNN Friday marks the end of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the wealthiest people and world leaders. The glitzy retreat into the Swiss Alps looks increasingly out of date as the biggest war in Europe since 1945 deepens splits in the world
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By Pete Muntean and Gregory Wallace, CNN Investigators are probing the narrowly avoided catastrophic collision between two airliners at New York’s JFK airport Friday evening and are already conducting interviews, according to the National Transportation Safety Board. The incident involved an American Airlines 777 that improperly crossed an active runway at the busy airport. “S**t!”
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By Matt McFarland, CNN Business The Tesla Model S that braked sharply and triggered an eight-car crash in San Francisco in November had the automaker’s controversial driver-assist software engaged within 30 seconds of the crash, according to data the federal government released Tuesday. The Tesla Model S slowed to 7 mph on the highway at
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By Chris Isidore, CNN Tesla reported record profits for the fourth quarter and the full year, but its profit margins were tighter due to higher costs, recent price cuts, and sales in the quarter that were weaker than hoped. The leading electric vehicle maker posted adjusted earnings of $1.19 per share in the quarter, up
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By Jennifer Korn Getty Images announced a lawsuit against Stability AI, the company behind popular AI art tool Stable Diffusion, alleging the tech company committed copyright infringement. The stock image giant accused Stability AI of copying and processing millions of its images without obtaining the proper licensing, according to a press release issued Tuesday. London-based
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By Jordan Valinsky, CNN Ousted Disney chief executive Bob Chapek is set to receive a hefty paycheck following his exit. The Walt Disney Company said the former CEO, who took over in February 2020 after longtime CEO Bob Iger retired, is eligible to take home a severance pay package worth roughly $20 million, according to
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By Reuters A 2016 video that Tesla (TSLA) used to promote its self-driving technology was staged to show capabilities like stopping at a red light and accelerating at a green light that the system did not have, according to testimony by a senior engineer. The video, which remains archived on Tesla’s website, was released in
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By Chris Isidore, CNN A four-year old tweet from Elon Musk has the Tesla CEO back in court starting Tuesday. Musk, Tesla and other Tesla directors are facing a shareholder lawsuit over his now-infamous 2018 tweet, which said that he was thinking about taking Tesla private at a price of $420 a share. If he
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By Clare Duffy, CNN Global politics will be dominated by the availability, trade and investment in microchips for the next several decades, Intel CEO Pat Gelsinger told CNN Tuesday. The location of “oil reserves [has] defined geopolitics for the last five decades,” Gelsinger said in an interview with CNN’s Julia Chatterley at the World Economic
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By Julia Horowitz, CNN Bullishness about the global economy has been in short supply among business leaders in recent months, with fears of recession clouding the outlook and restraining investment. Now, cautious optimism is peeking through. That’s thanks in large part to China, whose sudden removal of strict coronavirus restrictions late last year is expected
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By Alicia Wallace, CNN Americans have already started to rein in their spending — and expect to pull back some more this year, according to a Federal Reserve Bank of New York survey released Tuesday morning. Monthly household spending growth, after hitting a series high of 9% in August, fell to 7.7% in December, according
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By Anna Cooban, CNN Europe is scrambling to buy diesel fuel from Russia before a ban on imports comes into force in early February, but the frantic stockpiling is unlikely to prevent a new price shock for truckers, drivers and businesses. In the first two weeks of January, European countries snapped up almost 8 million
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By Paul R. La Monica, CNN Let’s not make a deal? Investment banking powerhouses Goldman Sachs and Morgan Stanley both reported substantial drops in revenue and profit for the fourth quarter on Tuesday, largely due to the dearth of merger activity and initial public offerings in the final three months of the year. Earnings for
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By Peter Valdes-Dapena, CNN Exactly 70 years after the very first Chevrolet Corvette was unveiled in January, 1953, General Motors revealed the first Corvette with an electric motor on Tuesday. The front wheels of the 2024 Corvette E-Ray are powered by a 160 horsepower electric motor, while a 495 horsepower V8 gasoline engine powers the
Continue Reading By Peter Valdes-Dapena, CNN Exactly 70 years after the very first Chevrolet Corvette was unveiled in January, 1953, General Motors revealed the first Corvette with an electric motor on Tuesday. The front wheels of the 2024 Corvette E-Ray are powered by a 160 horsepower electric motor, while a 495 horsepower V8 gasoline engine powers the
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By Hanna Ziady, CNN Rich travelers will have to pay more to fly if the aviation industry is to transition to greener fuels, the boss of one of the world’s biggest airports said Tuesday. Speaking on a panel at the World Economic Forum in Davos hosted by CNN’s Richard Quest, Heathrow CEO John Holland-Kaye said
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By Nicole Goodkind, CNN Business The world is in debt. A record amount of debt. Three hundred trillion dollars, to be exact. That’s the total amount that governments, households and corporations around the world owed in June 2022, as estimated by the Institute of International Finance. That number is about 349% of global gross domestic
Continue Reading By Nicole Goodkind, CNN Business The world is in debt. A record amount of debt. Three hundred trillion dollars, to be exact. That’s the total amount that governments, households and corporations around the world owed in June 2022, as estimated by the Institute of International Finance. That number is about 349% of global gross domestic
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By Jeanne Sahadi, CNN After having surgery to remove a small cancerous tumor from his neck last year, Publicis Groupe CEO Arthur Sadoun decided to tell his employees, clients and shareholders of his condition. He still needed to undergo radiation and chemotherapy, and explained to them what that would mean for his work schedule. While
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