By Natasha Bertrand and Jessie Yeung, CNN Tesla CEO Elon Musk has denied a claim that he spoke directly to Russian President Vladimir Putin in recent weeks about the war in Ukraine and a proposed “peace plan” to end the conflict. Speaking to CNN on Tuesday, American political scientist Ian Bremmer, president of political consulting
Continue Reading By Rachel Metz, CNN Business Meta’s newest virtual-reality headset, the Meta Quest Pro, is a slick, powerful device. It can display text and fine details in VR, making it possible to read even small type with ease. It can track your eyes and facial features, giving you a sense of connection with other people in
Continue Reading By Matt Egan, CNN OPEC and its allies have defended their decision to slash oil production by arguing they are trying to prepare for a potential economic downturn that would hurt energy demand. Connecticut Democratic Sen. Richard Blumenthal isn’t buying that argument from Saudi Arabia-led OPEC and is leading the push to punish the kingdom.
Continue Reading By Catherine Thorbecke, CNN Business While seemingly every social media app is copying TikTok, TikTok now appears to be copying Amazon’s playbook. TikTok appears to be looking to create a new logistics and warehousing network in the United States to support its e-commerce efforts, according to several job openings recently posted to its hiring site
Continue Reading By Rachel Metz, CNN Business Meta’s newest virtual-reality headset, the Meta Quest Pro, is a slick, powerful device. It can display text and fine details in VR, making it possible to read even small type with ease. It can track your eyes and facial features, giving you a sense of connection with other people in
Continue Reading By Vanessa Yurkevich, CNN The Biden administration is proposing a new labor rule that could classify millions of gig workers as employees — a move that would challenge the low-cost labor models behind Silicon Valley heavyweights such as Uber, Lyft and DoorDash. The proposed rule announced by the Labor Department on Tuesday aims to broaden
Continue Reading By Paul R. La Monica, CNN Business The back-to-back, huge market rallies of last week may seem like a distant memory to investors after stocks slid for the past four days and finished mixed Tuesday. The Dow snapped its losing streak, rising more than 35 points, or 0.1%. It was a topsy-turvy trading session, with
Continue Reading By Paul R. La Monica, CNN Business The back-to-back, huge market rallies of last week may seem like a distant memory to investors after stocks slid for the past four days and finished mixed Tuesday. The Dow snapped its losing streak, rising more than 35 points, or 0.1%. It was a topsy-turvy trading session, with
Continue Reading By Peter Valdes-Dapena, CNN Business Honda and South Korean battery maker LG Energy Solutions are investing $3.5 billion to build a joint venture battery factory in southern Ohio, the car company said Tuesday. An exact location hasn’t been announced but the factory, which is expected to employ 2,200 people, will be in Fayette County, southwest
Continue Reading Martha C. White for CNN Business Hurricane Ian’s devastating impact will be felt for weeks and months to come, especially in the state of Florida where much of the storm’s damage was sustained. Economists say tens of thousands of people are likely to file for unemployment benefits in the storm’s wake, but if those workers
Continue Reading Martha C. White for CNN Business Hurricane Ian’s devastating impact will be felt for weeks and months to come, especially in the state of Florida where much of the storm’s damage was sustained. Economists say tens of thousands of people are likely to file for unemployment benefits in the storm’s wake, but if those workers
Continue Reading By CNN Staff Jake Tapper, CNN’s chief Washington correspondent and anchor, is set to kick off his new show Tuesday evening by sitting down to speak with President Joe Biden. The interview is Biden’s first with CNN since he took office in 2021. It will be taped in the afternoon before airing on “CNN Tonight
Continue Reading By Julia Horowitz, CNN Business The International Monetary Fund has once again downgraded its forecast for the global economy with a sharp warning: “The worst is yet to come, and for many people 2023 will feel like a recession.” The agency said Tuesday that it expects global growth to slump to 2.7% next year, with
Continue Reading By CNN Staff Jake Tapper, CNN’s chief Washington correspondent and anchor, is set to kick off his new show Tuesday evening by sitting down to speak with President Joe Biden. The interview is Biden’s first with CNN since he took office in 2021. It will be taped in the afternoon before airing on “CNN Tonight
Continue Reading By Nathaniel Meyersohn, CNN Business It’s only October, but holiday shopping promotions are here with retailers bringing out the Christmas trees, turning on the holiday music and dangling sales from now until January. This month alone, there’s Target’s “Deal Days,” Walmart’s “Rollbacks and More,” Best Buy’s “Flash Sale” and a new Amazon Prime Day-like event.
Continue Reading By Nathaniel Meyersohn, CNN Business It’s only October, but holiday shopping promotions are here with retailers bringing out the Christmas trees, turning on the holiday music and dangling sales from now until January. This month alone, there’s Target’s “Deal Days,” Walmart’s “Rollbacks and More,” Best Buy’s “Flash Sale” and a new Amazon Prime Day-like event.
Continue Reading By Nicole Goodkind, CNN Business Stocks lost ground again on Monday following a turbulent week that saw market volatility at its bumpiest level since July. These mercurial markets come as investors overreact to data in eager anticipation of the Federal Reserve’s next interest rate policy decision, said Alan Blinder, former Fed Vice Chair and Princeton
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors is starting its own energy storage business using its Ultium battery packs to power homes and charge cars as well as to feed power back into the grid when needed. The new business unit, called GM Energy, will consist of Ultium Home, Ultium Commercial and Ultium Charge 360
Continue Reading By Mark Thompson, CNN Business For the second time in two days, the Bank of England has been forced to offer extra support to UK markets still reeling from the government’s announcement last month that it would slash taxes and increase borrowing. The central bank warned Tuesday that there was still a “material risk to
Continue Reading By Matt McFarland, CNN Business Drivers are putting too much trust in their vehicles’ driver-assist features, which may lead to dangerous situations, according to the Insurance Institute for Highway Safety (IIHS). The organization, which researches vehicle safety, released a study Tuesday finding that 53% of General Motors’ Super Cruise users, 42% of Tesla Autopilot users
Continue Reading