By Swati Gupta and Olesya Dmitracova, CNN India’s market regulator is looking into the explosive allegations against Adani Group made by US short seller Hindenburg Research, which accused the conglomerate of “the largest con in corporate history.” The claims, published in late January, set off a crash in the company’s market value and robbed its
Continue Reading By Brian Fung, CNN Senators from both parties blasted Big Tech on Tuesday and called for the passage of federal legislation to regulate tech platforms in the midst of a mental health crisis among young Americans. Opening a hearing of the Senate Judiciary Committee, Sen Dick Durbin, the panel’s chair, accused tech companies including Facebook
Continue Reading By Jordan Valinsky, CNN Business Pepsi is bringing back its Peeps-flavored soda, and this time it’s easier than an Easter egg hunt to find. For the first time, “Pepsi x Peeps” is available for sale at retailers nationwide, a change from its debut two years ago, when it only gave away a few thousand of
Continue Reading By Chris Isidore and Nikki Carvajal, CNN Boeing announced one of the largest orders in its history Tuesday. But it was still topped by rival Airbus. Both aircraft makers announced massive orders from Air India, which is gearing up its own expansion plans. Boeing’s order, which was announced by President Joe Biden after a call
Continue Reading By Jordan Valinsky, CNN Business Subway, one of the world’s most recognizable fast food brands, has confirmed it’s up for sale. The 58-year-old company said in a statement Tuesday that its shareholders are “exploring a possible sale” of the company and that it has hired J.P. Morgan to help conduct the process. Subway warned that
Continue Reading By Danielle Wiener-Bronner, CNN Egg prices are still going up — way up — in the grocery store. In January, egg prices rose 8.5% compared to the month before, according to inflation data released by the Bureau of Labor Statistics Tuesday. In the year through January, egg prices soared 70.1%. A highly-contagious, deadly avian flu
Continue Reading By Hanna Ziady, CNN The United Kingdom lost more working days to strikes in 2022 than in any year since 1989, as employees walked out in large numbers over pay amid soaring living costs. Figures from the Office for National Statistics (ONS) showed Tuesday that nearly 2.5 million working days were lost to industrial action
Continue Reading By Alicia Wallace, CNN Inflation surged in January by the most in three months, according to the latest Consumer Price Index released Tuesday. But despite the monthly increase of 0.5%, inflation continued to slow on a year-over-year basis to 6.4%, according to the Bureau of Labor Statistics. That’s down from December’s 6.5% but higher than
Continue Reading By Chris Isidore, CNN Business New Jersey Transit, one of the largest commuter rail services in the country, is now facing the same kind of labor problems that nearly brought service on the nation’s freight railroads to a halt last year. The railroad, which carries tens of thousands of commuters daily between New Jersey and
Continue Reading By Anna Cooban, CNN Ford has announced plans to axe 3,800 jobs across Europe, citing difficult economic conditions and its major push toward electric vehicles. The US carmaker said Tuesday that it would cut about 2,300 jobs in Germany, 1,300 in the United Kingdom and 200 across the rest of Europe over the next three
Continue Reading By Catherine Thorbecke, CNN Business When Microsoft President Brad Smith announced in February 2021 that the tech giant had purchased a 90-acre plot of land in Atlanta’s westside, he laid out a bold vision: The company, he said, would invest in the community and put it “on the path toward becoming one of Microsoft’s largest
Continue Reading By Julia Horowitz, CNN Amazon’s Zoox driverless transportation company has started testing its robotaxi on open public roads — with employees on board, for now. The company said Monday that it conducted an initial run of its shuttle service for workers at its headquarters in Foster City, California on February 11, a key step in
Continue Reading By Nicole Goodkind, CNN A Valentine’s Day surprise doesn’t usually include egg and gas prices, but the heart wants what the heart wants, and Wall Street is entranced by January’s Consumer Price Index. What’s happening: Investors will get some market direction clarity on Tuesday morning with the release of key inflation data. And though consumer
Continue Reading By Michelle Toh, CNN New York’s top financial regulator has ordered a crypto company to stop minting a major stablecoin, widening a clampdown on the embattled digital assets sector. Paxos, a blockchain company, announced Monday that it had been instructed by the New York State Department of Financial Services (NYDFS) to stop issuing BUSD, a
Continue Reading By Manveena Suri, Kunal Sehgal and Rhea Mogul, CNN Indian tax authorities raided the BBC’s offices in New Delhi and Mumbai on Tuesday, weeks after the country banned a documentary from the British broadcaster that was critical of Prime Minister Narendra Modi’s alleged role in deadly riots more than 20 years ago. BBC News reported
Continue Reading By Heather Chen, CNN One of Cambodia’s last remaining independent media outlets has been shut down by Prime Minister Hun Sen ahead of national elections in July, in a move condemned by rights groups as a blow to press freedom. Based in the capital Phnom Penh, Voice of Democracy (VOD), a local outlet run by
Continue Reading By Rob McLean, CNN Several US mobile carriers experienced technical difficulties Monday night. DownDetector, a website that tracks service problems and outages, indicated that AT&T, T-Mobile, Verizon and Boost Mobile all experienced a spike in reports Monday night. It was unclear if the problems were connected. Neville Ray, president of technology for T-Mobile, tweeted late
Continue Reading By Oliver Darcy, CNN The Super Bowl delivered super ratings for Fox. The face off between the Philadelphia Eagles and Kansas City Chiefs, a nail biter in which the latter team emerged victorious after a game defining play late in the fourth quarter, averaged 113 million viewers across Fox’s television and digital properties, according to
Continue Reading By Paul R. La Monica, CNN Barney is back, and while Mattel has not yet officially confirmed it, we’re guessing he still loves you. Toy giant Mattel announced Monday that Barney, the friendly (and, let’s be honest, cringe-worthy to a large group of Millennials who watched him as pre-schoolers, and to their parents) purple dinosaur
Continue Reading By Peter Valdes-Dapena, CNN Business Ford is investing $3.5 billion to build a battery plant in Michigan, a move that will help the automaker take advantage of more federal tax credits for electric vehicles. The plant will operate as a wholly owned subsidiary of Ford Motor Co. but will build batteries using “knowledge” and services
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