By Julia Horowitz, CNN Business The Federal Reserve has sent a clear signal that the era of rock-bottom interest rates will end in 2022. What’s happening: Rates have been near zero since March 2020, when government leaders around the world shut down the economy to slow the spread of Covid-19. But on Wednesday, the Fed
Continue Reading
By Charles Riley, CNN Business The Bank of England is hiking interest rates in an effort to fight surging prices even as the Omicron variant engulfs the United Kingdom and threatens to put the economy into reverse. The central bank’s Monetary Policy Committee said Thursday that it would raise interest rates from the record low
Continue Reading
By Matt Egan, CNN Business Business leaders and former policymakers are sounding the cyber alarm. The JPMorgan International Council on Thursday urged the public and private sector to step up their cybersecurity efforts to combat an increasingly dangerous threat to the economy and national security. The council, which includes JPMorgan CEO Jamie Dimon, Johnson &
Continue Reading
By Diksha Madhok, CNN Business Australia’s Qantas is choosing Airbus over Boeing to replace its domestic fleet. The decision is a big blow to the American aircraft maker, and a major win for its European rival. The airline said Thursday that it plans to buy 40 Airbus planes, including 20 A321XLR jets and 20 A220
Continue Reading
By Walé Azeez, CNN Business Black tech entrepreneurs in the United Kingdom say they have to rely on foreign investors to get their businesses off the ground. More than a year after the Black Lives Matter protests prompted the UK government to investigate discrimination against Black business owners, British venture capital firms continue to neglect
Continue Reading
By Jill Disis and Nectar Gan, CNN Business The longtime editor of one of China’s most outspoken and nationalistic state media outlets says he’s stepping down. Hu Xijin said Thursday that he has retired and is no longer serving as the editor-in-chief of the Global Times, according to a post on his verified Weibo account.
Continue Reading By Jill Disis and Nectar Gan, CNN Business The longtime editor of one of China’s most outspoken and nationalistic state media outlets says he’s stepping down. Hu Xijin said Thursday that he has retired and is no longer serving as the editor-in-chief of the Global Times, according to a post on his verified Weibo account.
Continue Reading
By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. How many people in your friend circles are Covid-positive right now? How many families do you know with kids who are quarantining at home due to a close contact? Here
Continue Reading By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. How many people in your friend circles are Covid-positive right now? How many families do you know with kids who are quarantining at home due to a close contact? Here
Continue Reading
By Rob McLean, CNN Business Reddit announced Wednesday that it has confidentially filed paperwork in its first big step toward an initial public offering, making it the latest tech firm to consider a Wall Street debut. The social media site said that it has not yet determined the number of shares to be offered or
Continue Reading
By Blake Ellis, CNN The federal government plans to begin sending students at the US Merchant Marine Academy back to sea later this month, resuming a key training program that had been temporarily suspended in the wake of an allegation that a 19-year-old student was raped on a ship. The program was halted early last
Continue Reading
By Rishi Iyengar, CNN Business Apple will delay bringing its workers back to the office until a “yet to be determined” date, while giving all of its corporate and retail employees $1,000 to buy equipment for their home offices. The development was shared with Apple employees in an email from CEO Tim Cook on Wednesday,
Continue Reading By Yoonjung Seo and Amy Woodyatt, CNN Business South Korea’s largest dairy company, Seoul Milk, has apologized after releasing a controversial advert which some critics say portray women as cows. “We sincerely apologize to everyone who may have felt uncomfortable due to the milk advertisement video uploaded to the official YouTube channel of Seoul Milk
Continue Reading
By Chris Isidore, CNN Business Senator Elizabeth Warren and Tesla CEO Elon Musk are in the middle of a full-scale Twitter war. Warren called the world’s richest person a freeloader for paying $0 in income taxes in recent years. Musk responded with a series of personal attacks, calling Warren “Senator Karen” and claiming his income
Continue Reading
By Chris Isidore, CNN Business The CEOs of two of the nation’s major airlines say they don’t think wearing masks on planes does much to help limit exposure to Covid. The comments from American Airlines CEO Doug Parker — the nation’s largest carrier — and Southwest CEO Gary Kelly came during a hearing about the
Continue Reading By Chris Isidore, CNN Business The CEOs of two of the nation’s major airlines say they don’t think wearing masks on planes does much to help limit exposure to Covid. The comments from American Airlines CEO Doug Parker — the nation’s largest carrier — and Southwest CEO Gary Kelly came during a hearing about the
Continue Reading By Matt Egan, CNN Senator Joe Manchin’s opposition to the Build Back Better Act prompted Goldman Sachs to swiftly dim its US economic outlook. The Wall Street firm told clients Sunday it no longer assumes President Joe Biden’s signature legislation will get through the narrowly divided Congress, citing the West Virginia Democrat’s announcement that he’s
Continue Reading
By Anneken Tappe, CNN Business America’s inflation spikes have prompted the Federal Reserve to pick up the pace in normalizing its pandemic-era monetary policy. On Wednesday, the central bank said it will wrap up its stimulus program faster than originally announced, and its updated economic projections show multiple interest rate increases in 2022. The central
Continue Reading
By Clare Duffy, CNN Business Meta, the company formerly known as Facebook, is asking for help in avoiding having personal data about its users scraped from its platforms and posted to the web. The social media giant announced Wednesday that it is expanding its bug bounty program — which offers rewards for helping identify and
Continue Reading
By Paul R. La Monica, CNN Business “Bowling for Dollars” was a popular 1970s game show. The company that owns the Professional Bowlers Association, as well as hundreds of bowling alleys across the country, is now getting ready to put that idea to the test. Bowlero, which operates lanes under the Bowlero, Bowlmor and AMF
Continue Reading