By Hanna Ziady, CNN Microsoft is buying a 4% stake in the London Stock Exchange Group as part of a deal that will see the market operator spend at least $2.8 billion over 10 years on the software provider’s cloud services. The companies announced the partnership in a joint statement on Monday, touting the benefits
Continue Reading By Julia Horowitz, CNN Rivian said Monday it would no longer pursue a deal with Mercedes to build electric vans for businesses in Europe. In a statement, CEO RJ Scaringe said the company needed to be strategic about its investments. “At this point in time, we believe focusing on our consumer business, as well as
Continue Reading By Michelle Watson, CNN Dorothy Pitman Hughes, the co-founder of one of the most prominent feminist magazines, has died, according to a funeral home in Georgia and her longtime colleague and friend Gloria Steinem. Hughes, co-founder of Ms. Magazine, died at the age of 84 on December 1 in Tampa, Florida, according to Sconiers Funeral
Continue Reading By Ramishah Maruf, CNN Stellantis is shuttering its Illinois plant in February resulting in indefinite layoffs for 1,350 employees, the company said in a statement, citing increasing costs in the electric vehicle market. “Our industry has been adversely affected by a multitude of factors like the ongoing Covid-19 pandemic and the global microchip shortage, but
Continue Reading By Chris Isidore, CNN The fact that a freight railroad strike didn’t start on Friday is a huge win for the US economy and its still struggling supply chain. But that doesn’t mean freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and
Continue Reading By Paul R. La Monica, CNN The Federal Reserve is all but guaranteed to announce Wednesday that it will once again raise interest rates. But investors are hopeful it will be a smaller increase than the last four hikes. Traders are betting on just a half-point increase. Federal funds futures on the Chicago Mercantile Exchange
Continue Reading By Rachel Ramirez, CNN If you’re looking to replace or upgrade your smartphone in the coming year, take a beat and think it over. Do you really need a new phone, or do you simply have the urge to get the new, shiny tech? There are some issues to consider besides the new device’s affordability.
Continue Reading By Vedika Sud, Rhea Mogul, Rishabh Pratap and Arpit Goel, CNN At the Bhalswa landfill in northwest Delhi, a steady flow of jeeps zigzag up the trash heap to dump more garbage on a pile now over 62 meters (203 feet) high. Fires caused by heat and methane gas sporadically break out — the Delhi
Continue Reading By Vedika Sud, Rhea Mogul, Rishabh Pratap and Arpit Goel, CNN At the Bhalswa landfill in northwest Delhi, a steady flow of jeeps zigzag up the trash heap to dump more garbage on a pile now over 62 meters (203 feet) high. Fires caused by heat and methane gas sporadically break out — the Delhi
Continue Reading By Christine Romans It’s too soon to declare victory over inflation, but from gas to chicken to big-screen TVs, there are, increasingly, signs that inflation’s grip on American pocketbooks may be loosening. Gas prices are back to last year’s levels, after spiking to a record high of just over $5 a gallon this summer. For
Continue Reading By Juliana Liu, CNN Semiconductor giant TSMC was feted this week by US President Joe Biden and Apple CEO Tim Cook during a ceremony to unveil its $40 billion manufacturing site in Arizona — a huge investment designed to help secure America’s supply of the most advanced chips. But back home in Taiwan, there is
Continue Reading By Oliver Darcy, CNN Barbara Starr, the Pentagon correspondent who has covered some of the most consequential stories with a signature style and steady hand, is leaving CNN after more than two decades with the network. Starr announced her departure in a memo sent to her CNN colleagues on Friday. “With the expiration of my
Continue Reading By Tami Luhby, CNN Americans’ wealth continued to slide in the third quarter as stock prices plunged over the summer — but many Americans still have a healthy financial cushion, compared to pre-pandemic times. That’s according to data from the Federal Reserve released Friday, which showed that the net worth of households and nonprofit organizations
Continue Reading By Clare Duffy, CNN Twitter’s new owner Elon Musk on Thursday said he plans to introduce an option to make it possible for users to determine if the company has limited how many other users can view their posts. In doing so, Musk is effectively seizing on an issue that has been a rallying cry
Continue Reading By Clare Duffy, CNN Twitter’s new owner Elon Musk on Thursday said he plans to introduce an option to make it possible for users to determine if the company has limited how many other users can view their posts. In doing so, Musk is effectively seizing on an issue that has been a rallying cry
Continue Reading By Chris Isidore, CNN Workers at the Ultium Cells plant, co-owned by General Motors and Korean giant LG, voted overwhelmingly this week to join the United Auto Workers union. It’s a huge win for the UAW that has major significance for the auto industry. The vote happened at Ultium’s first-ever plant in Warren, Ohio, which
Continue Reading By Chris Isidore Consumers are becoming more confident about the state of the economy, despite recession fears, soaring interest rates and continued high prices, according to the latest consumer survey from the University of Michigan. The survey’s consumer sentiment index measured 59.1 in December, up from the final reading of 56.8 in November. Economists were
Continue Reading By Christine Romans It’s too soon to declare victory over inflation, but from gas to chicken to big-screen TVs, there are, increasingly, signs that inflation’s grip on American pocketbooks may be loosening. Gas prices are back to last year’s levels, after spiking to a record high of just over $5 a gallon this summer. For
Continue Reading By Chris Isidore, CNN Another key inflation measure shows price pressures cooled off but remained stubbornly high in November, despite the Federal Reserve’s monthslong efforts to fight inflation through higher interest rates. The Producer Price Index, which measures prices paid for goods and services by businesses before they reach consumers, rose 7.4% in November compared
Continue Reading By Nicole Goodkind, CNN Brutally high oil and gas prices were the talk of the town in 2022 and one of the largest contributing factors to sky-high inflation. The thing is: When you reach the top, there’s nowhere to go but down. And that’s exactly where oil is going. The price of crude has taken
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