By Laura He, CNN Business One of China’s top leaders has painted a grim picture of the job market in the world’s most populous nation, as widespread Covid lockdowns slam the brakes on the economy. Chinese Premier Li Keqiang — the No. 2 in the hierarchy of China’s ruling Communist Party — called the employment
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By Ramishah Maruf, CNN Business The Justice Department indicted Mining Capital Coin CEO Luiz Capuci Jr. for “allegedly orchestrating a $62 million global investment fraud scheme,” the agency said Friday. Mining Capital Coin, or MCC, is a cryptocurrency mining and investment platform. Capuci, who is from Port St. Lucie, Florida, allegedly misled investors by selling
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By Ramishah Maruf, CNN Kate Smith was a reporter for CBS News for several years, and her main beat was reproductive rights. Now she works for an organization that was one of her main sources. Last year, Smith left CBS to work as the senior director of news content for Planned Parenthood. On “Reliable Sources”
Continue Reading By Ramishah Maruf, CNN Kate Smith was a reporter for CBS News for several years, and her main beat was reproductive rights. Now she works for an organization that was one of her main sources. Last year, Smith left CBS to work as the senior director of news content for Planned Parenthood. On “Reliable Sources”
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By Parija Kavilanz and Ramishah Maruf, CNN Business For months stores nationwide have been struggling to stock enough baby formula. Manufacturers say they’re producing at full capacity and making as much formula as they can, but it’s still not enough to meet current demand. The out-of-stock rate for baby formula hovered between 2% and 8%
Continue Reading By Parija Kavilanz and Ramishah Maruf, CNN Business For months stores nationwide have been struggling to stock enough baby formula. Manufacturers say they’re producing at full capacity and making as much formula as they can, but it’s still not enough to meet current demand. The out-of-stock rate for baby formula hovered between 2% and 8%
Continue Reading By Frank Pallotta, CNN Business “Doctor Strange in the Multiverse of Madness,” the latest film in the Marvel Cinematic Universe, made an estimated $185 million domestically for its opening this weekend, according to Disney. That number hit the high end of expectations, which had the film making around $170 million to $185 million in North
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By Oliver Darcy, CNN Business Politico’s explosive scoop about a draft opinion revealing that the Supreme Court had voted to overturn Roe v. Wade has become the most-trafficked story in the outlet’s 15-year history, a spokesperson for the outlet told CNN on Friday. The article, written by Josh Gerstein and Alexander Ward, had originally published
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By Frank Pallotta, CNN Business Heading into the final month of its season, “Saturday Night Live” took on the biggest story of the week: Politico obtaining a draft of a majority opinion written by Supreme Court Justice Samuel Alito that would overturn Roe v. Wade. The NBC variety show opened its latest episode by taking
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By Nicole Goodkind, CNN Business The United States is in a maternal health crisis. Maternal mortality and morbidity rates across the country have increased steadily over the past 20 years, even as rates in all other developed countries have decreased significantly. New government data shows that US maternal deaths jumped by 14% during the first
Continue Reading By Nicole Goodkind, CNN Business The United States is in a maternal health crisis. Maternal mortality and morbidity rates across the country have increased steadily over the past 20 years, even as rates in all other developed countries have decreased significantly. New government data shows that US maternal deaths jumped by 14% during the first
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By Nicole Goodkind, CNN Business The Federal Reserve’s favorite inflation-related adjective used to be transitory, as in: Inflation is transitory and price increases should be temporary. That is no longer the case. Inflation rates have been increasing sharply since August 2021 and have been out of the normal 2%-to-4% range for a full year. The
Continue Reading By Frank Pallotta, CNN Business Heading into the final month of its season, “Saturday Night Live” took on the biggest story of the week: Politico obtaining a draft of a majority opinion written by Supreme Court Justice Samuel Alito that would overturn Roe v. Wade. The NBC variety show opened its latest episode by taking
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Reuters Elon Musk is aiming to increase Twitter’s annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world’s richest man to investors. Advertising will fall to 45% of total revenue under Musk, down from about 90% in
Continue Reading Reuters Elon Musk is aiming to increase Twitter’s annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world’s richest man to investors. Advertising will fall to 45% of total revenue under Musk, down from about 90% in
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By Alicia Wallace, CNN Business Photographs by William DeShazer for CNN When the pandemic hit the US in March 2020, concert halls fell silent, stages faded to black and livelihoods hung in the balance. The US performing arts industry immediately lost more than half of its jobs; and unlike other hard-hit businesses such as restaurants,
Continue Reading By Alicia Wallace, CNN Business Photographs by William DeShazer for CNN When the pandemic hit the US in March 2020, concert halls fell silent, stages faded to black and livelihoods hung in the balance. The US performing arts industry immediately lost more than half of its jobs; and unlike other hard-hit businesses such as restaurants,
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By Zoe Sottile, CNN Hot Wheels is expanding representation for kids who use wheelchairs — with the company’s first-ever remote-controlled wheelchair toy. The toy was created in collaboration with five-time Wheelchair Motocross World Champion and Paralympic athlete Aaron “Wheelz” Fotheringham. Fotheringham, who was born with spina bifida and has been a full-time wheelchair user since
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By Frank Pallotta, CNN Business Netflix is still reeling from its stock plunge last month after losing subscribers for the first time in more than a decade. To turn the narrative back in its favor, analysts have suggested adding ads and clamping down on password sharing. But one way Netflix can help itself is by
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Story by Faith Karimi, CNN Video by Lacey Russell, CNN Photographs by Lynsey Weatherspoon/Redux for CNN The gray mansion with white trim stands out amid the brick homes in this affluent, quiet suburb of Atlanta. A Tesla and a Mercedes sit in the driveway. Towering pines wave gently in the backyard. Bare windows offer glimpses
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