By Jackie Wattles, CNN Business Rocket Lab this week made an ostentatious attempt to catch a rocket as it fell from space using a hook-wielding helicopter that snagged the rocket mid-air only for the pilots to intentionally drop it moments later because of safety concerns. The display is all part of the company’s plan to
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By Jeanne Sahadi, CNN Business If a popular piece of retirement legislation makes it to President Biden’s desk this year, it would give older 401(k) participants the opportunity to contribute more to their nest egg and possibly bolster their tax-free savings. Currently, anyone 50 or older may contribute an additional $6,500 on top of the
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By Brian Fung, CNN Elon Musk appeared to endorse a key European law regulating social media on Monday when he appeared in a video with Thierry Breton, a top EU commissioner and digital regulator. In the video, Breton said he met with Musk to explain the finer points of the Digital Services Act, a forthcoming
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By Jackie Wattles, CNN Business Two passengers that flew on one of Blue Origin’s supersonic flights to the edge of space have shared footage of the 10-minute journey captured behind the scenes or inside the capsule during flight, giving a rare glimpse into the full experience. Cameron Bess — who rode alongside their father, venture
Continue Reading By Jackie Wattles, CNN Business Two passengers that flew on one of Blue Origin’s supersonic flights to the edge of space have shared footage of the 10-minute journey captured behind the scenes or inside the capsule during flight, giving a rare glimpse into the full experience. Cameron Bess — who rode alongside their father, venture
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By Allison Morrow, CNN Business Millions of women in more than 25 states face an abortion ban if the Supreme Court overturns Roe v. Wade, the landmark 1973 decision that legalized the procedure nationwide. For many of those women, employers’ benefit packages may be the only way they can soon afford a legal abortion. Amazon
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By Anna Bahney, CNN Business Home prices rose by double-digit percentages in most major US cities at the beginning of this year. Of 185 metro areas tracked, 70% saw double-digit growth in median home prices during the first quarter of 2022 compared to a year before, according to a report from the National Association of
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By Brian Fung, CNN Business The Securities and Exchange Commission is vastly expanding its fight against cryptocurrency fraud by hiring more than a dozen new employees to combat cybercrime, the agency said Tuesday. The additional 20 positions will result in almost a doubling in size of the agency’s Cyber Unit, which is also being renamed
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By Anneken Tappe, CNN Business The US labor market remained on fire in March with a record 4.5 million workers quitting their jobs, new data from the Bureau of Labor Statistics showed Tuesday. The number of quits increased most significantly in the professional and business services sector, as well as construction. The overall quits rate
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By Brian Fung, CNN Some of the nation’s biggest brands including Coca-Cola, Disney and Kraft are facing calls to boycott Twitter if the company’s soon-to-be owner, billionaire Elon Musk, rolls back content moderation policies limiting hate speech and election misinformation. In a letter sent to brands Tuesday ahead of the 2022 NewFronts digital advertising conference,
Continue Reading By Brian Fung, CNN Some of the nation’s biggest brands including Coca-Cola, Disney and Kraft are facing calls to boycott Twitter if the company’s soon-to-be owner, billionaire Elon Musk, rolls back content moderation policies limiting hate speech and election misinformation. In a letter sent to brands Tuesday ahead of the 2022 NewFronts digital advertising conference,
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Opinion by Erik Lundh and Dana Peterson for CNN Business Perspectives If you grimaced at the most recent US GDP report, you weren’t alone. At first glance, it suggested that the US economy may have entered a recession. Growth nosedived in the first quarter of the year, shrinking by an annualized rate of 1.4%. Bizarrely,
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By Julia Horowitz, CNN Business Stocks have been volatile in recent weeks, notching their worst start to the year since 1939. Between the war in Ukraine, decades-high inflation and recession fears, it’s been difficult for investors to convince themselves to put more money into the market. Yet Goldman Sachs has a reminder for Wall Street:
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By Jordan Valinsky, CNN Business Ulta Beauty is apologizing for sending a newsletter to customers with a subject line containing a “very insensitive choice of words.” In an email sent Sunday, the chain wrote “Come hang with Kate Spade” promoting the brand’s line of perfumes. That prompted some subscribers to share the email on social
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By Matt Egan, CNN Business The Federal Reserve helped rescue the economy from the worst pandemic in a century. That task may prove easy compared with the Fed’s next mission: crush inflation, without causing a recession. Achieving a so-called “soft landing” will be challenging because the jobs market is on fire. It’s so hot that
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By Matt Egan, CNN Business Turmoil on Wall Street is a feature, not a bug, of the Federal Reserve’s fight against inflation, according to former New York Federal Reserve President Bill Dudley. “What’s happening right now is exactly what the Federal Reserve wants to happen,” Dudley told CNN in an interview, referring to recent volatility
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By Michelle Toh, CNN Business HSBC has long prided itself on being the bank that connects East and West. Now it’s under pressure to rethink that model after a challenge from its top shareholder, one of the most powerful finance companies in China. Ping An, China’s largest insurer, is pushing for HSBC to overhaul its
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By Danielle Wiener-Bronner, CNN Business Popeyes started the chicken sandwich wars in 2019 — and it’s adding a new entree to the battle. The $4.99 ​​Buffalo Ranch Chicken Sandwich is available for a limited time starting Tuesday, and it features classic ingredients with a twist: hand-battered crispy chicken on a brioche bun with pickles, but
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By Mark Thompson, CNN Business BP took a hit of more than $24 billion from ditching its business in Russia but reported a huge jump in profit for the first quarter. The UK-based energy giant said Tuesday that its underlying profit soared to $6.2 billion from $2.6 billion in the same period last year, boosted
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By Jennifer Korn and Jackie Wattles, CNN Business Rocket Lab, which aims to launch satellites into space quickly and cheaply, said it just used a helicopter to catch part of a rocket in mid-air. But the rocket was dropped into the ocean shortly after, ending up having to be fished out of the water. This
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