By Michelle Toh, CNN Business Cathay Pacific plans to continue operating at just minuscule levels as its home city remains largely cut off from the rest of the world. Hong Kong’s flagship airline said Wednesday that it would likely only be able to maintain 2% of passenger flight capacity, and less than one third of
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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. This subject is quite sensitive, and some news outlets don’t want to say anything about it on the record for obvious reasons. But Russia’s new censorship law clamping down on
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By Danielle Wiener-Bronner, CNN Business Burger King is the latest fast food chain to pull corporate support from its businesses in Russia. Restaurant Brands International, which owns the burger chain, said Thursday it “has suspended all of its corporate support for the Russian market, including operations, marketing and supply chain.” The company is also stopping
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By Peter Valdes-Dapena, CNN Business As America shifts towards electric cars, plug-in hybrids are often forgotten. Their potential benefits are lost on many consumers who are either attracted to the high-tech allure of fully electric cars or afraid of the complication of needing to plug in a car. Some people are fully ready to commit
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By Chris Isidore, CNN Business The US average price of gas now stands at a record $4.17 a gallon. But gas for less than $4 a gallon can still be found at tens of thousands of service stations across much of the country. The data show that there’s a wide range of pricing in most
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By Brian Fung, CNN Former senior national security officials, including two ex-CIA directors and a past NSA director, are backing Apple’s app store practices as the iPhone maker fights a critical antitrust case. The nearly two-dozen security experts and former US officials argued Thursday in a court filing that proposals to force open Apple’s mobile
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By Parija Kavilanz, CNN Business Lululemon unveiled a new product Tuesday that speaks to the upscale brand’s ambition to expand into new categories. The athleisure company, known for its leggings and yoga pants, introduced a running shoe for women called Blissfeel. The shoe marks Lululemon first-ever foray into footwear. The move sets Lululemon Athletica up
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By Rishi Iyengar, CNN Business Spotify and Discord experienced disruptions to their services on Tuesday. Several Spotify users reported being automatically logged out of their accounts. “Something’s not quite right, and we’re looking into it,” the company tweeted. At roughly the same time, messaging platform Discord reported a partial outage. “We’re aware of an issue
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By David Goldman, CNN Business The United States and Europe have pummeled Russia with unprecedented sanctions over the past several weeks as Vladimir Putin’s army bears down on Ukraine. But the West has largely left Russia’s largest export untouched: energy. Until now. European Union officials on Tuesday said the bloc would slash imports of Russian
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By David Goldman and Becky Anderson, CNN Business The oil market has been stretched incredibly thin, with few producers willing — or able — to replace Russian barrels banned by the United States and shunned by others. Enter the United Arab Emirates, which suggested it may be coming to the rescue. The UAE’s ambassador to
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By Nathaniel Meyersohn, CNN Business Kohl’s is under intense pressure from Wall Street raiders and up against stiff competition from Amazon, Target and others. Now it’s hoping that overhauling its brand image can beat back those threats. Kohl’s announced plans Monday to add Sephora mini-shops to roughly 75% of its 1,100 US stores, open 100
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By Danielle Wiener-Bronner, CNN Business McDonald’s and Starbucks are shutting their restaurants and cafes in Russia, and Coca-Cola is suspending its operations there in response to Russia’s invasion of Ukraine. PepsiCo is also pulling some products from the country. The decisions followed pressure from critics and similar moves by other Western companies. On Twitter, people
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By Allison Morrow, CNN Business As the world barrels into Year Three of the pandemic, Americans are entering a new phase or economic anxiety — an inescapable reality that shouts out at them in big bold numbers on countless signs dotting the nation’s roadsides. Record gas prices are here, just as many people are mapping
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By Jordan Valinsky, CNN Business Better.com, the embattled online mortgage company, announced Tuesday that it’s taking the “difficult step of streamlining” its operations and laying off about one-third of its workforce, amounting to roughly 3,000 jobs. The company, which gained notoriety last year after its CEO fired 900 employees over Zoom just before Christmas, expanded
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By Anna Cooban, CNN Business Nickel prices have soared to all-time highs in the wake of Russia’s invasion of Ukraine, threatening the global transition to electric vehicles. The London Metal Exchange suspended trading in nickel on Tuesday for the first time in its 145-year history after prices doubled in a matter of hours to $100,000
Continue Reading Opinion by Mary Beth Laughton for CNN Business Perspectives When I started my career in the late 1990s, only six women had ever broken the proverbial glass ceiling to become CEOs of Fortune 500 companies. This small but mighty group was an inspiration to young women like me just starting their careers, especially considering the
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By Kathryn Vasel, CNN Business Getting to know new colleagues through a box on your screen while working from home can have its challenges. Recent hires already have a lot on their plates when it comes to making a good impression, but forging relationships with your new co-workers should also be a high priority, even
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By Jennifer Korn Google on Tuesday announced it has agreed to buy cybersecurity firm Mandiant for around $5.4 billion, one of the largest acquisitions in the tech giant’s history and a big bet that helping companies better address cyber threats can bolster its cloud computing business. “The acquisition of Mandiant will complement Google Cloud’s existing
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By Samantha Murphy Kelly, CNN Business At its first product event of the year on Tuesday, Apple unveiled an upgraded iPad Air, a new desktop computer and a powerful new Mac chip. But the standout product was a new budget iPhone with access to 5G networks. Apple’s new iPhone SE, only the third version since
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By Charles Riley, CNN Business Stagflation strikes fear into the hearts of economists — and policymakers —the world over. Europe could be headed for something even worse. Western sanctions imposed following Russia’s invasion of Ukraine have caused global energy prices to spike and consumer confidence to plummet in Europe. Russia is being cut off from
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