By Jackie Wattles, CNN Business Four years ago this week, the most powerful operational rocket in the world, SpaceX’s Falcon Heavy, made its inaugural launch from Florida and tore into outer space carrying nothing other than Elon Musk’s personal Tesla roadster. The cherry red sports car — which is occupied by a spacesuit-clad mannequin nicknamed
Continue Reading By Jackie Wattles, CNN Business Four years ago this week, the most powerful operational rocket in the world, SpaceX’s Falcon Heavy, made its inaugural launch from Florida and tore into outer space carrying nothing other than Elon Musk’s personal Tesla roadster. The cherry red sports car — which is occupied by a spacesuit-clad mannequin nicknamed
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By Matt McFarland, CNN Business Cruise, the self-driving subsidiary of General Motors, started offering robotaxi rides this week in San Francisco. Anyone can sign up for the chance to be selected to get a ride in a self-driving car, provided they don’t mind staying up late. Cruise’s robotaxis are generally only operating from 11 p.m.
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By Ivana Kottasová and Charles Riley, CNN Business President Joe Biden said Monday that natural gas will not flow through Russia’s Nord Stream 2 pipeline to Germany if Moscow orders an invasion of Ukraine. What does an $11 billion undersea pipeline between Russia and Germany have to do with Ukraine? And why is it such
Continue Reading By Ivana Kottasová and Charles Riley, CNN Business President Joe Biden said Monday that natural gas will not flow through Russia’s Nord Stream 2 pipeline to Germany if Moscow orders an invasion of Ukraine. What does an $11 billion undersea pipeline between Russia and Germany have to do with Ukraine? And why is it such
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By Michelle Toh, CNN Business SoftBank’s record-breaking sale of a prized chip designer to Nvidia has officially been called off. At an initial value of $40 billion, the US chipmaker’s acquisition of British design firm ARM would have been the largest semiconductor deal on record. But regulators around the world have long raised concerns about
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By Julia Horowitz, CNN Business Politicians are under huge pressure to fight inflation as a rapid uptick in prices hits consumers’ wallets and offsets wage hikes. That could fuel a tougher stance from regulators on mergers, as leaders like US President Joe Biden try to show they’re on the side of anxious voters. “This administration,
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By Jordan Valinsky, CNN Business Peloton is replacing embattled CEO John Foley and cutting about 20% of its workforce to help reinvigorate the flailing fitness company. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become its CEO and president, effective Wednesday. Foley will become the company’s executive chair, and wrote in
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By Paul R. La Monica, CNN Business Pfizer’s sales in the fourth quarter more than doubled, thanks to strong demand for its Covid-19 vaccine. But that wasn’t good enough to satisfy investors. The drugmaker said it posted revenue of $23.8 billion, missing Wall Street’s expectations of $24.1 billion. More than half of Pfizer’s total sales,
Continue Reading By Jordan Valinsky, CNN Business Peloton is replacing embattled CEO John Foley and cutting about 20% of its workforce to help reinvigorate the flailing fitness company. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become its CEO and president, effective Wednesday. Foley will become the company’s executive chair, and wrote in
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By Parija Kavilanz, CNN Business Loan Nguyen is a new mom living in a constant state of anxiety. For the past several weeks, following the premature birth of her twins, Maxine and Lawrence, Nguyen has spent hours every day searching the internet or making phone calls trying to find more baby formula to buy for
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By Mark Thompson, CNN Business News that Britain’s biggest oil companies made $32 billion in profit last year is stoking calls for the UK government to impose a temporary tax on their earnings to help households pay soaring energy bills. Reporting earnings on Tuesday, BP posted an annual profit of almost $12.9 billion. Shell reported
Continue Reading By Michelle Toh, CNN Business SoftBank’s record-breaking sale of a prized chip designer to Nvidia has officially been called off. At an initial value of $40 billion, the US chipmaker’s acquisition of British design firm ARM would have been the largest semiconductor deal on record. But regulators around the world have long raised concerns about
Continue Reading By Michelle Toh, CNN Business SoftBank’s record-breaking sale of a prized chip designer to Nvidia has officially been called off. At an initial value of $40 billion, the US chipmaker’s acquisition of British design firm ARM would have been the largest semiconductor deal on record. But regulators around the world have long raised concerns about
Continue Reading By Michelle Toh, CNN Business SoftBank’s record-breaking sale of a prized chip designer to Nvidia has officially been called off. At an initial value of $40 billion, the US chipmaker’s acquisition of British design firm ARM would have been the largest semiconductor deal on record. But regulators around the world have long raised concerns about
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By Rob McLean, CNN Business Crypto fans rejoice: Bitcoin is mounting a comeback. The virtual currency briefly breached the $45,000 milestone for the first time in roughly a month overnight, according to CoinMarketCap. It later dipped back below that mark, and was last trading around $44,800 per coin. It’s not clear what caused the latest
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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. Through my coverage of various media industry scandals over the years, and through my first-hand experience with a few of them, I can confidently say this: The scandals are more
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. Through my coverage of various media industry scandals over the years, and through my first-hand experience with a few of them, I can confidently say this: The scandals are more
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By Diksha Madhok, CNN Business India’s Gautam Adani has overtaken his fellow countryman Mukesh Ambani to become the wealthiest person in Asia, according to Bloomberg’s list of the world’s richest people. The 59-year-old founder of Adani Group controls companies ranging from ports and aerospace to thermal energy and coal, and now has a net worth
Continue Reading By Diksha Madhok, CNN Business India’s Gautam Adani has overtaken his fellow countryman Mukesh Ambani to become the wealthiest person in Asia, according to Bloomberg’s list of the world’s richest people. The 59-year-old founder of Adani Group controls companies ranging from ports and aerospace to thermal energy and coal, and now has a net worth
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