By Chris Isidore, CNN A FedEx plane was only about 150 feet off the ground when its pilots realized a Southwest jet was in the process of taking off on the same runway, and aborted its landing to avoid a potentially catastrophic fatal accident last month, federal safety investigators reported Thursday. The report was from
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By Hannah Rabinowitz, CNN Deputy Attorney General Lisa Monaco announced a new effort by the Justice Department on Thursday to target corporate sanctions evasion and other financial crimes that implicate national security. “To address the increasing intersection of corporate crime and national security, the Department is today announcing significant restructuring and resource commitments within the
Continue Reading By Hannah Rabinowitz, CNN Deputy Attorney General Lisa Monaco announced a new effort by the Justice Department on Thursday to target corporate sanctions evasion and other financial crimes that implicate national security. “To address the increasing intersection of corporate crime and national security, the Department is today announcing significant restructuring and resource commitments within the
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By Brian Fung, CNN Two Democratic senators urged Meta this week to suspend a reported plan to offer Horizon Worlds, the company’s flagship virtual reality app, to teens between the ages of 13 and 17, arguing the technology could harm young users’ physical and mental health. The lawmakers, Massachusetts Sen. Ed Markey and Connecticut Sen.
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By Danielle Wiener-Bronner, CNN Calls to boycott Hershey are spreading on Twitter in response to the chocolate company’s International Women’s Day Canadian campaign, which includes a trans woman. It’s the latest example of a brand generating a strong but mixed reaction to a promotional campaign that touches on cultural or societal issues. Fae Johnstone, a
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By Anna Bahney, CNN Mortgage rates shot up for the fourth consecutive week, as inflation concerns remain. The 30-year fixed-rate mortgage averaged 6.65% in the week ending March 2, up from 6.5% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 3.76%. Rates had been trending
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By Nathaniel Meyersohn, CNN Big retailers say consumer demand is starting to buckle from the strain of inflation and customers are making changes in how they shop. Target, Best Buy, Macy’s and other chains say shoppers have pulled back on discretionary goods like clothing, electronics and home improvement. They have shifted their spending to paying
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By Allison Morrow, CNN Silvergate Capital, a dominant lender to cryptocurrency firms, is spiraling. The bank’s shares fell more than 55% Thursday after it told the Securities and Exchange Commission in a filing Wednesday night that it won’t be able to file its annual report on time and that it is evaluating its ability to
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By Jennifer Korn GoodRx customers who typically receive emails about prescription drug deals and refill reminders from the company saw something very different in their inboxes this week. GoodRX sent a notice to users detailing allegations from the Federal Trade Commission that the company shared sensitive health data with third parties for advertising purposes without
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By Jordan Valinsky, CNN Business Elizabeth Holmes, the former CEO of Theranos convicted of defrauding investors, is seeking to delay the start of her 11-year prison sentence because she has “two very young children” to be with. The court filing last week represents the first public acknowledgment that Holmes gave has given birth to her
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By Anna Bahney, CNN While more Americans own homes today than a decade ago and the rate is increasing across all races, the gap between Black homeownership rates and that of any other race or ethnic group is even larger now than in 2011, according to a new analysis by the National Association of Realtors.
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By Nicole Goodkind, CNN Wall Street investors are reaching for their neck braces in preparation for yet another volatile swing in stock markets: A surging US dollar. The greenback — which is not just the dominant global currency but also “the key variable affecting global economic conditions,” according to the New York Federal Reserve —
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By Julia Horowitz, CNN Inflation in Europe fell again in February, though not as sharply as expected, and national data showed accelerating price rises in many of the region’s top economies. Annual inflation across the 20 countries that use the euro dipped to 8.5%, from 8.6% the previous month, according to an initial estimate released
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By Laura He, CNN One of China’s richest women has fully taken over Country Garden, a top real estate developer, after her father resigned, which added to a string of prominent entrepreneurs retreating from their posts during a historic downturn in the property market. Yang Huiyan succeeded her father Yang Guoqiang as chairman of the
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By Rhea Mogul and Vedika Sud, CNN Foreign ministers from the world’s biggest economies convened in New Delhi Thursday in what was seen as a grand test for Indian diplomacy, which ultimately didn’t succeed in reaching a consensus because of Russia’s ongoing invasion of Ukraine. In the second high-level ministerial meeting under India’s Group of
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By Danielle Wiener-Bronner, CNN Starbucks has displayed “egregious and widespread misconduct” in its dealings with employees involved in efforts to unionize Buffalo, New York, stores, a National Labor Relations Board judge said in an order Wednesday. As a result, the company must reinstate and make whole a number of workers who were let go from
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By Chris Isidore, CNN Tesla’s next vehicle assembly plant will be in Mexico near Monterrey, CEO Elon Musk announced Wednesday. “We’re super excited about it,” Musk said during an investor day for the company. “We’ll continue to expand production at all of our existing factories. So this is not moving output to anywhere, from anywhere.
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By Catherine Thorbecke, CNN Waymo, the self-driving car division of Google’s parent company Alphabet, said on Wednesday that it has cut approximately 8% of its staff across two rounds of layoffs this year. Some 209 jobs were eliminated in total, after cuts in late January and another more recent round, the company confirmed on Wednesday.
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By Nathaniel Meyersohn, CNN Amazon, Uber and Lyft recently ended extra fuel surcharges as gas prices dropped late last year. But there’s a catch. Beginning last March, Uber riders were paying an extra $0.45 or $0.55 in fees per trip and an additional $0.35 or $0.45 for Uber Eats food delivery, depending on the location.
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By Jeanne Sahadi, CNN A lot can change in two decades. Or… not. In 2022, US women on average earned about 82 cents for every dollar a man earned, according to a new Pew Research Center analysis of median hourly earnings of both full- and part-time workers. That’s a big leap from the 65 cents
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