By Samantha Murphy Kelly, CNN Business Aaron Hommell bought his 3G iPhone 5 in 2014 and kept it for more than seven years, holding onto it even after the screen cracked and a long list of faster models hit the market. Then a year ago, AT&T began sending him emails that the company would be
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By Ivana Kottasová and Angela Dewan, CNN The European Commission is coming under criticism after unveiling a long-delayed proposal to designate natural gas and nuclear power “sustainable” sources of energy Wednesday. Including the energy sources on the EU’s green list could unlock a wave of private investment into new nuclear and gas projects. But the
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By Julia Horowitz, CNN Business Not everyone has thousands of dollars on hand to purchase a single share of Google. Soon, investors won’t have to. What’s happening: Google parent Alphabet, the third largest public company in the United States, announced after markets closed on Tuesday that it will execute a 20-for-1 stock split in mid-July,
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By Jordan Valinsky, CNN Business US airlines have canceled thousands of flights for Wednesday and Thursday as a powerful winter storm packing ice, rain, sleet and snow is stretching from the Midwest to the South. For Wednesday, Chicago O’Hare, a United and American Airlines hub, is the most affected airport with 364 cancellations, according to
Continue Reading By Jordan Valinsky, CNN Business US airlines have canceled nearly 3,000 flights combined for Wednesday and Thursday as a powerful winter storm packing ice, rain, sleet and snow is stretching from the Midwest to the South. For Wednesday, Chicago O’Hare, a United and American Airlines hub, is the most affected airport with 164 cancellations, according
Continue Reading By Ivana Kottasová and Angela Dewan, CNN The European Commission is coming under criticism after unveiling a long-delayed proposal to designate natural gas and nuclear power “sustainable” sources of energy Wednesday. Including the energy sources on the EU’s green list could unlock a wave of private investment into new nuclear and gas projects. But the
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By Vanessa Yurkevich, CNN Business The restaurant industry will likely never return to its pre-pandemic state, according to the National Restaurant Association. The trade group says 2022 will be a “new normal,” for the sector as it struggles to rebound and as competition for workers remains intense, according to the association’s 2022 State of the
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By Laura He, CNN Business The Chinese box office has raked in $314 million so far during the Lunar New Year holiday, largely thanks to a patriotic war epic celebrating China’s victory over the United States during a key battle during the Korean War. “Water Gate Bridge” is the sequel to the 2021 Chinese blockbuster
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By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Whoopi Goldberg will start a two-week suspension Wednesday morning. ABC News president Kim Godwin announced the decision to discipline Goldberg on Tuesday night, one day after “The View” host had
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By Oliver Darcy, CNN Business ABC News suspended “The View” host Whoopi Goldberg for two weeks on Tuesday night, hours after she apologized for having falsely declared on the daytime program that the Holocaust was “not about race.” In a statement, ABC News president Kim Godwin bluntly described Goldberg’s comments about the Holocaust, which were
Continue Reading By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Whoopi Goldberg will start a two-week suspension Wednesday morning. ABC News president Kim Godwin announced the decision to discipline Goldberg on Tuesday night, one day after “The View” host had
Continue Reading By Oliver Darcy, CNN Business ABC News suspended “The View” host Whoopi Goldberg for two weeks on Tuesday night, hours after she apologized for having falsely declared on the daytime program that the Holocaust was “not about race.” In a statement, ABC News president Kim Godwin bluntly described Goldberg’s comments about the Holocaust, which were
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By Clare Duffy, CNN Business Despite being one of the biggest online advertising giants, Google’s ad business is still growing at a rapid clip. Google’s ad sales grew nearly 33% year-over-year to $61.2 billion during the three months ending in December, and contributed to an overall better-than-expected quarter for its parent company, Alphabet. The company
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By Matt Egan, CNN Business America’s national debt just hit another sobering milestone. Total public debt outstanding is now above $30 trillion, according to Treasury Department data published Tuesday. Government borrowing accelerated during the Covid-19 pandemic as Washington spent aggressively to cushion the economic blow from the crisis. The national debt has surged by about
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By Chris Isidore, CNN Business General Motors reported record earnings for 2021, despite struggling with a shortage of computer chips and other parts that crimped its ability to build and sell all the cars and trucks it wanted. Quarterly earnings reached nearly $2 billion, excluding special items, topping the consensus forecast of $1.7 billion from
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By Clare Duffy, CNN Business In June 2019, after years of being under scrutiny for the impact its platforms have on society, Facebook unveiled one of its most ambitious projects yet: a cryptocurrency called Libra, which would be backed by an international consortium of companies. The effort had such lofty goals as providing financial services
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By Peter Valdes-Dapena, CNN Business In a few years, cars going down a road in a historic section of Detroit will theoretically be able to charge their batteries as they drive. That’s the goal of an Israeli company that is finalizing an agreement with the state of Michigan’s Department of Transportation to build the roughly
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By Frank Pallotta, CNN Business Spotify wants to be the everything-for-everyone audio company. But it’s 2022, and that’s proving impossible. Neil Young and Joni Mitchell asked Spotify last week to pull their music from the platform because of Joe Rogan, who has made frequent false and inaccurate claims about Covid-19 and vaccines on his very
Continue Reading By Allison Morrow, CNN Business If Joe Rogan wasn’t already a household name before last week, he almost certainly is now. His Spotify-based podcast’s Covid commentary created a backlash that led several musicians and customers to boycott the platform. So, who is Rogan? He’s someone who requires a lot of slashes: Comedian/commentator/podcast host/media personality. Rogan,
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By Matt Egan, CNN Business Energy prices remain uncomfortably high, and OPEC and its allies are under pressure to come to the rescue. The good news for consumers grappling with elevated pump prices is that Goldman Sachs is warning clients that OPEC+ could announce during Wednesday’s virtual meeting it plans step up production. Noting that
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