By Allison Morrow, CNN Business Mark Cuban, owner of the Dallas Mavericks, is having a Johnny Rose moment. The billionaire just bought the entire town of Mustang, Texas — a blip on the map off I-45, with a population of 21 people, according to the latest census data. The reason, Cuban told the Dallas Morning
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By Julia Horowitz, CNN Business The era of big Chinese companies heading to the United States to raise money may have just come to an end. What’s happening: China’s Didi announced Friday that it will “immediately” start the process of delisting from the New York Stock Exchange and pivot to Hong Kong. Coming just months
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By Peter Valdes-Dapena, CNN Business Startup automakers, like Lucid and Rivian, often make the point that, as Tesla has shown, electric car shoppers are open to trying new brands. What’s true for startups, though, is also true for big automakers like Ford, General Motors and Volkswagen. For those long-established car companies, new electric vehicles are
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Opinion by Gad Levanon for CNN Business Perspectives Three important trends are likely to dominate the US labor market in 2022: the ongoing economic recovery from the pandemic, the severe labor shortage, and the increasing adjustment to remote work. But there is one wildcard that could upend everything: A new Covid-19 surge, driven by Omicron
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By Paul R. La Monica, CNN Business What an end to a tumultuous week on Wall Street. Friday kicked off with disappointing news as just 210,000 jobs were added last month, much lower than expected. Stocks initially opened higher before dipping into the red. Investors were clearly hoping for better jobs numbers. After all, the
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By Anna Bahney, CNN Business There is still emergency rental assistance available for those struggling to cover their rent because of the pandemic. But some of that aid will soon be shifted to places that have run out of funds and still have people in need of help. The US Department of Treasury will begin
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By Ramishah Maruf, CNN Business Better.com CEO Vishal Garg announced the mortgage company is laying off about 9% of its workforce on a Zoom webinar Wednesday abruptly informing the more than 900 employees on the call they were being terminated just before the holidays. “If you’re on this call, you are part of the unlucky
Continue Reading By Julia Horowitz, CNN Business The era of big Chinese companies heading to the United States to raise money may have just come to an end. What’s happening: China’s Didi announced Friday that it will “immediately” start the process of delisting from the New York Stock Exchange and pivot to Hong Kong. Coming just months
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By Anneken Tappe, CNN Business The November jobs report looked disappointing at first glance, but the details show that the recovery is very much moving along. US employers added another 210,000 jobs to the economy in November, far fewer than expected, the Bureau of Labor Statistics reported Friday. It was the smallest number of jobs
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By Angela Dewan and Julia Horowitz, CNN Business Shell has pulled out of a controversial oil project in Scotland that was strongly opposed by climate activist groups. The company said its decision was based on the economics of the project and the risk of delays, and that it remained committed to its oil and gas
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By Oliver Darcy, CNN Business Dr. Anthony Fauci on Thursday night called out Fox News for staying silent after one of its personalities and streaming hosts, Lara Logan, compared him to an infamous Nazi doctor. Speaking on MSNBC with host Chris Hayes, Fauci said, “What I find striking, Chris, is how she gets no discipline
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By Laura He, CNN Business Didi said Friday that it would “immediately” start the process of delisting from the New York Stock Exchange and pivot to Hong Kong, just months after its disastrous IPO. “After a careful study, the company will start delisting on the New York Stock Exchange immediately, and start preparations for listing
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By Clare Duffy, CNN Business The independent board that oversees Facebook parent company, Meta, is once again urging the social media giant to be more transparent about its content moderation decisions. The Facebook Oversight Board on Thursday released two rulings overturning Meta’s decisions to remove user posts from its platforms, saying the content did not
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By Donie O’Sullivan, CNN Business Facebook has sold ads promoting anti-vaccine messages, comparing the US government’s response to Covid-19 to Nazi Germany, casting doubt on the result of the 2020 election, and even pushing political violence. The ads have been run by merchandise companies that have spent hundreds of thousands of dollars on Facebook over
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By Rishi Iyengar, CNN Business The Federal Trade Commission on Thursday sued to block US chipmaker Nvidia’s proposed $40 billion takeover of UK chip design firm Arm, saying it would stifle competition and give the combined company too much control over chip technology and designs. The lawsuit threatens to scuttle the world’s biggest ever semiconductor
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By Rachel Metz, CNN Business Like many other Spotify users, I opened the music streaming app on Wednesday and received a cheerful message: “Your 2021 Wrapped is here,” it read, imploring me to explore the top songs, artists, and podcasts I listened to “in a year that was far from normal.” I cringed while tapping
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By Chris Isidore, CNN Business Major League Baseball’s string of 26 straight seasons of labor peace came to an end early Thursday when the owners locked out the players. That’s bad news for fans of the sport, even if there isn’t a single game canceled as a result. In the world of labor relations, a
Continue Reading By Chris Isidore, CNN Business Major League Baseball’s string of 26 straight seasons of labor peace came to an end early Thursday when the owners locked out the players. That’s bad news for fans of the sport, even if there isn’t a single game canceled as a result. In the world of labor relations, a
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By Matt Egan, CNN Business The worldwide computer chip shortage is fanning the flames of inflation and limiting the supply of everything from iPhones to new cars. Unfortunately, this highly disruptive shortage is unlikely to go away until “deep into 2022,” Commerce Secretary Gina Raimondo told CNN. Raimondo, who recently toured semiconductor factories in Asia,
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By Anneken Tappe, CNN Business The stock market’s volatility is showing no signs of letting up. US equities rallied on Thursday, rebounding from the prior two days of steep losses. All three major indexes ended the day in the green and then some: The Dow finished up nearly 620 points, or 1.8%. It was the
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