By Michelle Toh and Anna Cooban, CNN BP’s annual profit more than doubled last year to an all-time high of nearly $28 billion, extending a record run of earnings for the world’s oil majors that is fueling calls for higher taxes on the windfall gains. The British energy company also announced Tuesday that it would
Continue Reading By Reuters Australia’s central bank raised its cash rate by 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed, in a more hawkish policy tilt than many had expected. Wrapping up its February policy meeting, the Reserve Bank of Australia (RBA) also dropped previous guidance that
Continue Reading By Rob McLean, CNN Microsoft reported that a “full restoration” of its Outlook service was nearly complete mid-morning Tuesday after a widespread outage for several hours overnight halted email and disrupted Teams and other products. Earlier Tuesday morning, Microsoft said on its service page that it had “applied mitigation throughout the affected infrastructure, and we’re
Continue Reading By Michelle Toh, CNN Alibaba says it will launch its own ChatGPT-style tool, becoming the latest tech giant to jump on the chatbot bandwagon. The Chinese behemoth said it was testing an artificial intelligence-powered chatbot internally. It did not share details of when it would launch or what the application would be called. “Frontier innovations
Continue Reading By Michelle Toh, CNN Shares in Baidu soared on Tuesday, after the Chinese search engine giant said it would be launching its own ChatGPT-style service. Its artificial intelligence chatbot called “Wenxin Yiyan” in Chinese or “ERNIE Bot” in English will launch in March, a spokesperson told CNN on Tuesday, adding that the project is currently
Continue Reading By Allison Morrow Binance, the world’s largest crypto exchange, said it would temporarily halt transfers of US dollars starting Wednesday. “Only a small proportion of our users will be impacted by this and we are working hard to restart the service as soon as possible,” the company tweeted Monday. “All other methods of buying and
Continue Reading By Catherine Thorbecke, CNN Google on Monday unveiled a new chatbot tool dubbed “Bard” in an apparent bid to compete with the viral success of ChatGPT. Sundar Pichai, CEO of Google and parent company Alphabet, said in a blog post that Bard will be opened up to “trusted testers” starting Monday, with plans to make
Continue Reading By Gregory Wallace, CNN Airline regulators on Monday proposed slapping United Airlines with a $1.15 million fine for safety concerns about how it operated some 777 planes. United removed an important safety measure — checking the fire warning system — from its list of actions that crews must complete before each flight of the 777s,
Continue Reading By Hanna Ziady, CNN Tens of thousands of nurses and nearly 12,000 ambulance workers went on strike Monday over pay and working conditions in the biggest walkout in the 75-year history of Britain’s National Health Service (NHS). Escalating industrial action comes after years of falling wages, stretched budgets and staff shortages that have left the
Continue Reading By Hanna Ziady, CNN Tens of thousands of nurses and nearly 12,000 ambulance workers went on strike Monday over pay and working conditions in the biggest walkout in the 75-year history of Britain’s National Health Service (NHS). Escalating industrial action comes after years of falling wages, stretched budgets and staff shortages that have left the
Continue Reading By Jordan Valinsky, CNN Business AMC Theaters is changing the way it charges for seats. America’s largest movie chain announced that the prices of a ticket will now be based on seat location, meaning seats in the front will be cheaper while more desirable seats in the middle will now cost more. The ticket pricing
Continue Reading By Allison Morrow, CNN The new management of FTX is pressuring hundreds of politicians and political organizations to return millions of dollars donated by the crypto platform or its founders before it went bankrupt last year. The company, which collapsed in November and is now at the center of a massive federal fraud investigation, said
Continue Reading By Anna Cooban, CNN Europe’s ban on Russia’s diesel arrived painlessly on Sunday. Although the EU cut off its biggest supplier, diesel futures prices in the bloc fell 1.6% on Monday, amounting to a 20% loss over the past two weeks as demand in the region has waned, and efforts by countries to stockpile ahead
Continue Reading By Paul R. La Monica, CNN Congress is once again bickering about raising the debt ceiling, the amount of money the US government can borrow to pay its bills on time. And that means that Corporate America has to be ready for the worst. The CEO of Bank of America, America’s second-largest bank, told CNN
Continue Reading By Paul R. La Monica, CNN Congress is once again bickering about raising the debt ceiling, the amount of money the US government can borrow to pay its bills on time. And that means that Corporate America has to be ready for the worst. The CEO of Bank of America, America’s second-largest bank, told CNN
Continue Reading By Betsy Klein, CNN Treasury Secretary Janet Yellen said Monday that the probability of a US recession this year is low as she touted job growth and low unemployment on the eve of President Joe Biden’s State of the Union address. “You don’t have a recession when you have 500,000 jobs and the lowest unemployment
Continue Reading By Jordan Valinsky, CNN Business National Enquirer, the 97-year-old controversial tabloid behind several bombshell celebrity and political scandals, sold itself to a brand acquisition company. American Media Inc. has offloaded the publication to VVIP Ventures, a joint venture between Vinco Ventures, Inc and a360 Media, for an undisclosed price, the companies announced Monday. National Examiner
Continue Reading By Brian Fung, CNN Dell plans to lay off roughly 5% of its workforce, the company said in a regulatory filing Monday, in the latest example of tech companies cutting costs in an uncertain economic climate. Dell has about 133,000 employees, the company told CNN. At that level, the 5% cut would represent more than
Continue Reading By Nicole Goodkind, CNN Business Investors who believe the bear market is over are “ignorant,” Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, told CNN. It’s not that investors don’t have some cause for optimism: markets are soaring, corporate earnings are beating expectations, employment is strong and the Federal Reserve is easing its
Continue Reading By Michelle Toh, CNN An episode of “The Simpsons” that includes a line about “forced labor camps” in mainland China has been pulled from Disney’s streaming platform in Hong Kong. A scene in the second episode of its latest season depicts the show’s matriarch, Marge Simpson, cycling on an indoor spin bike with an on-screen
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