By Matt Egan, CNN Business Even as some business groups cry foul over the tax provisions in the Inflation Reduction Act, economists at Goldman Sachs say the landmark bill will barely put a dent in massive corporate profits. To pay for historic climate investments, the legislation that passed the Senate on Sunday imposes a 15%
Continue Reading By Matt Egan, CNN Business After facing a series of regulatory obstacles, the shell company attempting to take over former President Donald Trump’s social media platform needs to extend a looming deadline to complete the controversial deal. Digital World Acquisition Corp., a special purpose acquisition company (SPAC), disclosed late Friday it is seeking shareholder approval
Continue Reading By Paul R. La Monica, CNN Business Warren Buffett is just like the rest of us. He got crushed by the plunge in the stock market during the first half of the year. But the Oracle of Omaha is undeterred by the wildness on Wall Street. Berkshire Hathaway is still buying and many of the
Continue Reading Opinion by Orphe Divounguy for CNN Business Perspectives Rising home prices and mortgage rates have made it next to impossible for many Americans to afford a home. And, even though the market is starting to show signs of cooling, many prospective buyers will remain on the sidelines for now. Although they have fallen slightly from
Continue Reading By Anna Cooban, CNN Business Australian airline Qantas has asked its senior executives to help out as airport baggage handlers as it struggles to manage a staff shortage. The airline has called on at least 100 senior staff to join its outsourced ground handling teams at Sydney and Melbourne airports for three months. “The high
Continue Reading By Anna Cooban, CNN Business Australian airline Qantas has asked its senior executives to help out as airport baggage handlers as it struggles to manage a staff shortage. The airline has called on at least 100 senior staff to join its outsourced ground handling teams at Sydney and Melbourne airports for three months. “The high
Continue Reading By Nicole Goodkind, CNN Business Wall Street is taking the call to increase corporate diversity seriously. At last. For the first time ever, every company listed on the S&P 500 has at least one racially or ethnically diverse director. About 11% of S&P boards were non-diverse in 2020. And now, the single most important attribute
Continue Reading By Chuck Johnston, CNN Business Following a miserable weekend for travel, Monday isn’t looking much better. Another wave of airline cancellations and delays is taking its toll on passengers across the United States on Monday. According to the flight tracking website FlightAware, about 500 US flights had been canceled by midday Monday. On Sunday, 950
Continue Reading By Laura He, CNN Business China’s export sector delivered robust growth in July, providing much-need support for the world’s second largest economy that is almost certain to miss its GDP target this year. Exports measured in US dollars jumped 18% in July from a year ago, marking the fastest pace of growth this year, according
Continue Reading By Ramishah Maruf, CNN The Texas jury’s decision last week to have Alex Jones face punitive damages of more than $45 million in a lawsuit filed by the parents of Sandy Hook shooting victim Jesse Lewis was a “reckoning that was 10 years in the making,” CNN’s chief media correspondent Brian Stelter said. A pair
Continue Reading By Chuck Johnston Another wave of airline cancellations and delays is being felt across the United States on Sunday. According to the flight tracking website, FlightAware, there have been 912 flights canceled so far on Sunday. A total of 6,378 flights have been delayed across the United States. Chicago O’Hare saw the most cancellations and
Continue Reading By Ramishah Maruf, CNN The Texas jury’s decision last week to have Alex Jones face punitive damages of more than $45 million in a lawsuit filed by the parents of Sandy Hook shooting victim Jesse Lewis was a “reckoning that was 10 years in the making,” CNN’s chief media correspondent Brian Stelter said. A pair
Continue Reading By Ramishah Maruf, CNN The Texas jury’s decision last week to have Alex Jones face punitive damages of more than $45 million in a lawsuit filed by the parents of Sandy Hook shooting victim Jesse Lewis was a “reckoning that was 10 years in the making,” CNN’s chief media correspondent Brian Stelter said. A pair
Continue Reading By Julia Horowitz, CNN Business The US dollar has been on a tear this year. That’s good news for American tourists gallivanting around Europe, but bad news for pretty much every other country in the world. The greenback is up more than 10% in 2022 compared to other top currencies — near its highest level
Continue Reading By Zoe Sottile, CNN A mattress brand is hiring for a position where sleeping on the job is not just accepted — it’s mandatory. Casper, a New York-based company founded in 2014, is hiring “Casper Sleepers” to sleep for a living. Casper Sleepers will sleep “in our stores, and in unexpected settings out in the
Continue Reading By Julia Horowitz, CNN Business After the Federal Reserve’s July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in a bid to fight inflation, the Fed indicated it could downgrade the size of its hikes moving forward. “We’ve been front-end loading
Continue Reading By Frank Pallotta, CNN Business Netflix has had a terrible 2022. In April, it said it lost subscribers for the first time since 2011. Its stock has tumbled more than 60% so far this year. Yet its recent struggles may not be the start of a downward spiral or the beginning of the end for
Continue Reading By Ramishah Maruf, CNN Tesla’s autopilot and self-driving claims are under fire again, this time from the California Department of Motor Vehicles in a complaint it filed on July 28. The complaint alleges that the company made “untrue or misleading” statements in advertisements on its website by claiming that Tesla vehicles were, or could be,
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Multiple back to school events will be taking place in Columbia Saturday, set to offer free goods and services to students and parents as back-to-school preparations begin.
Continue Reading By Natasha Chen, CNN Business On any given weekend night in North Hollywood, a group of dancers in outlandish costumes holds signs urging customers to stay away from the Star Garden topless bar. More than a dozen of the club’s dancers say they’ve been locked out for four-plus months because they petitioned the owners to
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