By Frank Pallotta, CNN Business Disney employees staged a walkout Tuesday in protest of the company’s response to Florida’s controversial Parental Rights in Education law, which critics have dubbed the “Don’t Say Gay” bill. While many employees at Disney headquarters in Burbank, California, did protest, it did not appear to be a massive showing across
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By Matt Egan, CNN Business Former Trump national security adviser H.R. McMaster is calling on Congress to swiftly fund investments in American computer chip manufacturing, a plan championed by the Biden administration to address global semiconductor shortages. “It’s absolutely critical,” McMaster, a retired Army lieutenant general, told CNN in a phone interview. “If China has
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Opinion by Gina Cummings for CNN Business Perspectives With inflation hitting a 40-year high in the United States, working families are swimming ever faster in the effort to stay afloat. But the water just keeps rising, as mostly stagnant wages are also rapidly losing value. The federal minimum wage has lost at least 21% of
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By Paul R. La Monica, CNN Business Alibaba has a message for investors nervous about its slowing growth and geopolitical uncertainty: We think our stock is cheap and we’re putting our money where our mouth is. Shares of Alibaba rose more than 11% Tuesday after the Chinese e-commerce and cloud giant announced it was boosting
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By Eoin McSweeney and Niamh Kennedy, CNN Business The Russian journalist who won last year’s Nobel Peace Prize says he will auction off his medal to support Ukrainian refugees. Novaya Gazeta editor Dmitry Muratov was compelled to sell his medal by the sight of “wounded and sick children” requiring “urgent treatment” following Russia’s invasion of
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By Peter Valdes-Dapena, CNN Business Maserati unveiled its new Grecale SUV Tuesday. It’s only the second SUV in the Italian luxury brand’s history and the first that will be available in an all-electric version. It’s an early step toward making the Italian luxury car brand fully electric by 2030. In the meantime, all Maserati models
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By Samantha Murphy Kelly, CNN Business When a mother in Washington state learned her teenage daughter was on Discord, a popular social media platform, she felt reasonably comfortable with the idea of her using it to communicate with members of her high school marching band. But in September, the mother discovered the 16-year-old was also
Continue Reading By Peter Valdes-Dapena, CNN Business Maserati unveiled its new Grecale SUV Tuesday. It’s only the second SUV in the Italian luxury brand’s history and the first that will be available in an all-electric version. It’s an early step toward making the Italian luxury car brand fully electric by 2030. In the meantime, all Maserati models
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By Charles Riley, CNN Business Jerome Powell is trying to hike interest rates without damaging the economy. Getting it wrong means recession, and he knows it. The chairman of the Federal Reserve said Monday that the central bank is prepared to repeatedly hike interest rates — and by 0.5 percentage points if necessary— in order
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By Frank Pallotta, CNN Business Disney’s controversial response to Florida’s “Don’t Say Gay” bill underscores the company’s complicated history with the LGBTQ+ community — a complex relationship in which Disney has played both champion and punching bag. Earlier this month, Disney CEO Bob Chapek spoke out about — but did not condemn — Florida’s controversial
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By Laura He, CNN Business Banks have seized $2 billion in cash from Evergrande, the ailing Chinese real estate developer said Tuesday as it announced a delay to the publication of its annual earnings. Evergrande said that it won’t be able to meet the March 31 deadline for publishing audited results for 2021, a year
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By Nathaniel Meyersohn, CNN Business You’re probably not too happy with your grocery bills these days. But there are strategies to help you shop without breaking the bank. Food prices rose 1% in February, the largest monthly increase since April 2020. Over the past 12 months, overall food prices increased 7.9%, the biggest jump since
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By Matt Egan, CNN Oil prices rose sharply on Monday as Europe considers whether to match America’s ban on Russian oil. US crude soared 7% to settle at $112.12 a barrel. Brent crude, the world benchmark, also rallied 7% to $115.62 a barrel. The rally will cast further doubt on how much gasoline prices will
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By Sara Ashley O’Brien, CNN Business Google has reached a settlement with six engineers who alleged the company unlawfully retaliated against them over their workplace organizing efforts. The settlement, first reported by Vice News Monday, was confirmed by labor attorney Laurie Burgess, who represented the workers, as well as in a court filing Friday. The
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By Anneken Tappe and Paul R. La Monica, CNN Business The Federal Reserve needs to move quickly to raise interest rates and normalize its monetary policy, according to Fed Chairman Jerome Powell. Between a strong job market and soaring inflation, “there is an obvious need to move expeditiously to return the stance of monetary policy
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By Ramishah Maruf, CNN Business The Securities and Exchange Commission proposed a climate disclosure rule Monday, a move that would boost the Biden administration’s goal to combat climate change. The rule would force companies to disclose their greenhouse emissions and other climate-related information to aid investment decisions — a first for the US and the
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By Jordan Valinsky, CNN Business A nonprofit reporting network launched Monday the Russian Asset Tracker, a database to track the assets of prominent Russians who have links to Vladimir Putin. It’s “the most comprehensive public database of oligarch assets to date,” according to the Organized Crime and Corruption Reporting Project, which collaborated with 27 media
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By Jackie Wattles, CNN Business Jeff Bezos’ space company, Blue Origin, said it will replace Saturday Night Live star Pete Davidson with a long-time employee on the company’s next supersonic jaunt to the edge of space. The company announced Monday it will replace Davidson with its chief architect of its suborbital rocket, Gary Lai. Davidson,
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By Catherine Thorbecke, CNN Business A number of Apple services were hit by a short-lived outage for some users on Monday afternoon. Reports began to swirl online of users experiencing issues with iMessage, iCloud and more of the tech giant’s tools starting around 1 p.m. ET. Apple eventually acknowledged at least 11 outages on its
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By Paul R. La Monica, CNN Business US-listed Russian stocks have been in freefall following the invasion of Ukraine — but it’s not the only nation whose stocks are getting whipsawed. Shares of major Chinese firms have been up and down in 2022. There’s plenty weighing on sentiment: worries about leading Chinese companies possibly getting
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