By Laura He, CNN Business China’s zero-Covid strategy of endless testings and lockdowns has hammered its economy and taken a toll on company profits, but it has delivered a windfall for test makers. Twelve of China’s top Covid testing firms have recently posted huge increases in both revenues and net profits for the first half
Continue Reading By Jackie Wattles, CNN Business NASA has two new dates in mind — September 23 or September 27 — for the next attempt at launching its massive new moon rocket on an uncrewed test mission. But there are still several things that could stand in the way of getting the Artemis I mission off the
Continue Reading By Jackie Wattles, CNN Business NASA’s massive new moon rocket hit another snag during its latest attempt to launch an uncrewed test mission, and it will be at least a few weeks — rather than days — before the rocket can make its next attempt. The longer delay can be attributed to several factors, including
Continue Reading By Donie O’Sullivan and Richa Naik, CNN Clara Sorrenti, a trans activist who was forced to flee her home in Canada after users of a hate-filled website targeted her, has succeeded in her campaign to get the site taken offline, for now. Sorrenti, better known by her online username “Keffals,” became the target of a
Continue Reading By Donie O’Sullivan and Richa Naik, CNN Clara Sorrenti, a trans activist who was forced to flee her home in Canada after users of a hate-filled website targeted her, has succeeded in her campaign to get the site taken offline, for now. Sorrenti, better known by her online username “Keffals,” became the target of a
Continue Reading By Rishi Iyengar, CNN Business Elizabeth Holmes, the founder of failed blood testing startup Theranos who was convicted of fraud earlier this year, is asking for a new trial after claiming that a key witness visited her house unannounced and allegedly said he “feels guilty” about his testimony. In a court filing on Tuesday with
Continue Reading By Alexandra Peers, CNN Business Herb Kohler, Jr., the former head of his family’s namesake global plumbing empire, died Saturday at the age of 83. He was the third generation Kohler to helm the Wisconsin company, serving as CEO for 43 years and later as its executive chairman. The emphasis of the Kohler brand during
Continue Reading By Paul R. La Monica, CNN Business Apple’s stock has been a lemon this year. Shares are down more than 10% so far in 2022, and Apple is trading about 15% below the all-time high it hit in early January. But with new iPhones set to be revealed Wednesday, will expectations for strong holiday sales
Continue Reading By Peter Valdes-Dapena, CNN Business California’s powerful Air Resources Board recently passed new regulations that essentially require all vehicles sold in the state to be electric, hydrogen-fueled or at least plug-in hybrid by the year 2035. What’s more, 17 other states have agreed to follow California’s lead, at least to some degree, in matters relating
Continue Reading By Julia Horowitz, CNN Business Liz Truss has a lot on her plate. The United Kingdom is heading for a recession. Workers are going on strike as inflation erodes their living standards. And millions of people and thousands of businesses need immediate relief from soaring energy bills to get through the winter. “This is a
Continue Reading By Catherine Thorbecke and Samantha Murphy Kelly, CNN Business Apple is expected to debut its iPhone 14 lineup at the company’s annual September keynote event on Wednesday. The product event, which has been teased with a “far out” tagline, will take place at Apple’s Cupertino, California, headquarters and will be livestreamed on Apple’s website and
Continue Reading By Matt Egan The controversial deal to take former President Donald Trump’s social media platform public faces a crucial deadline this week to keep the transaction alive. Digital World Acquisition Corp., the blank-check firm seeking to merge with Truth Social owner Trump Media & Technology Group, had given shareholders until end of day Tuesday to
Continue Reading By Scottie Andrew, CNN When Marilyn Loden first used the phrase “glass ceiling” at a women’s business conference in 1978, she didn’t imagine it would become a familiar metaphor for the challenges to career advancement faced by women in the workforce. “To be honest with you, I didn’t think it was a big deal,” Loden
Continue Reading Opinion by Jared Sine for CNN Business Perspectives One of the most important decisions a person can make in this life is who they choose to marry. It has certainly been my most important and best decision, as my wife, whose parents are first-generation immigrants from Mexico City, has had such an immensely positive impact
Continue Reading By Paul R. La Monica, CNN Business It looks like Jake from State Farm won’t need to worry about protecting his home from burglars. The insurance giant announced a big investment in home security company ADT Tuesday. Shares of ADT soared more than 14% on the news in early trading. State Farm is making a
Continue Reading By Julia Horowitz, CNN Business Stomach-churning market turbulence has chilled dealmaking this year, as many companies decide they’d rather wait for calmer times before pursuing public listings or executing mergers. But not everyone is sitting on the sidelines hoping for a return to more normal conditions. What’s happening: In a statement late Monday, Volkswagen said
Continue Reading By Chris Isidore, CNN Business Freight railroads have been around since the 19th century, but you can’t run a 21st century economy without them. The looming possibility of a strike by unions representing more than 90,000 workers at the nation’s freight railroads has businesses nationwide worried. The unions are poised to go on strike on
Continue Reading By Jeanne Sahadi, CNN Business The battle to get employees back into the office is about to get a little more heated. Many companies experimenting with a hybrid work schedule have said they want employees to be in the office a set number of days each week. But thus far, they have not done much
Continue Reading By Jeanne Sahadi, CNN Business The battle to get employees back into the office is about to get a little more heated. Many companies experimenting with a hybrid work schedule have said they want employees to be in the office a set number of days each week. But thus far, they have not done much
Continue Reading By Jordan Valinsky, CNN Business Shares of Bed Bath & Beyond is down nearly 20% in midday trading following the death of its one its top executives. Gustavo Arnal, the chief financial officer of the beleaguered retailer, jumped to his death from a high-rise apartment in Manhattan on Friday afternoon, a law enforcement source previously
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