By Michelle Toh and Charles Riley, CNN Business Global stock markets retreated Thursday after the Federal Reserve sparked a major sell-off on Wall Street by signaling it may unwind economic stimulus more aggressively than investors had expected. Some markets in Asia fell sharply, with Japan’s benchmark Nikkei and Australia’s S&P/ASX 200 sliding 2.9% and 2.7%,
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By Laura He, CNN Business A top Chinese official this week called for more tax cuts as the world’s second largest economy contends with fallout from renewed Covid outbreaks, a strict zero-tolerance approach to containing the virus and a deepening real estate crisis. “Our country’s economy is facing new downward pressures,” Premier Li Keqiang told
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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. I spent the morning of January 6, 2021 on the phone with one of my sources at Fox — a true conservative who hated what Donald Trump had done to
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By Oliver Darcy, CNN Business On the one-year anniversary of the January 6 insurrection, some of the most powerful forces in right-wing media continued to mislead or just brazenly lie to their audiences about the attack on the US Capitol, while others downplayed the events and mocked the news media for its coverage. The coverage
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By Anneken Tappe, CNN Business Wall Street ended Wednesday’s session sharply lower, as investors dealt with Omicron headlines as well as the Federal Reserve’s December meeting minutes that confirmed the central bank has its foot on the stimulus brakes. The Dow, which hit a record high Tuesday, closed down 1.1%, or 393 points. The S&P
Continue Reading By Anneken Tappe, CNN Business Wall Street ended Wednesday’s session sharply lower, as investors dealt with Omicron headlines as well as the Federal Reserve’s December meeting minutes that confirmed the central bank has its foot on the stimulus brakes. The Dow, which hit a record high Tuesday, closed down 1.1%, or 393 points. The S&P
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By Matt McFarland, CNN Business General Motors CEO Mary Barra said Wednesday during CES that the automaker hopes to sell self-driving cars to consumers by the middle of this decade. GM has missed its own self-imposed self-driving deadlines in the past. The automaker claimed back in 2017 that it would be mass producing fully autonomous
Continue Reading By Michelle Toh and Charles Riley, CNN Business Global stock markets retreated Thursday after the Federal Reserve sparked a major sell-off on Wall Street by signaling it may unwind economic stimulus more aggressively than investors had expected. Some markets in Asia fell sharply, with Japan’s benchmark Nikkei and Australia’s S&P/ASX 200 sliding 2.9% and 2.7%,
Continue Reading By Chris Isidore, CNN Business Six employees at a Buffalo Starbucks that recently voted to join a union walked out just before 9 am Wednesday citing health concerns, prompting the temporary closing of the store. Starbucks said it had closed that location and others in the city to in-store customer traffic Monday, restricting them to
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By Peter Valdes-Dapena, CNN Business Stellantis, the international automaker that owns brands like Jeep, Chrysler, Fiat, Ram and Peugeot, has entered into a wide-ranging agreement with Amazon. The deal will put Amazon software in Stellantis vehicles and will also put Stellantis’s electric vans into Amazon’s delivery fleet. Other automakers have reached similarly wide-ranging agreements in
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By Matt Egan, CNN Business Bank of America promised on Wednesday to donate $100 towards hunger relief for each US employee who shows proof of getting boosted against Covid-19. In a memo shared first with CNN, Bank of America said it will direct a $100 donation to local food banks and hunger relief organizations for
Continue Reading By Jackie Wattles, CNN Business NASA’s Artemis 1 mission, slated for take off as soon as this March, aims to send an Orion spacecraft around the moon. The cabin will be largely empty, save for an a interactive tablet that has been dubbed “Callisto,” which will sit propped up to face an astronaut mannequin. Callisto
Continue Reading By Jackie Wattles, CNN Business NASA’s Artemis 1 mission, slated for take off as soon as this March, aims to send an Orion spacecraft around the moon. The cabin will be largely empty, save for an a interactive tablet that has been dubbed “Callisto,” which will sit propped up to face an astronaut mannequin. Callisto
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By Niamh Kennedy, CNN Meghan, Duchess of Sussex will receive a confidential sum from the Mail on Sunday for infringement of copyright as her lengthy legal battle against the British tabloid comes to an end, court documents show. The duchess took two separate claims against the newspaper’s publisher: one of copyright infringement and another of
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By Peter Valdes-Dapena, CNN Business General Motors unveiled a new battery-electric pickup truck, the Chevrolet Silverado EV, during the Consumer Electronics Show. Although it shares its name with the popular gasoline-powered Silverado pickup, this Silverado is a completely different truck with a distinct design and major features not found on the internal combustion-powered models. GM’s
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors unveiled a new battery-electric pickup truck, the Chevrolet Silverado EV, during the Consumer Electronics Show. Although it shares its name with the popular gasoline-powered Silverado pickup, this Silverado is a completely different truck with a distinct design and major features not found on the internal combustion-powered models. GM’s
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By Brian Fung, CNN Business Google must stop attempting to intimidate US antitrust enforcers at the Justice Department, according to two congressional Democrats. On Wednesday, Sen. Elizabeth Warren and Rep. Pramila Jayapal wrote to Google CEO Sundar Pichai lambasting his company’s efforts to get Jonathan Kanter — DOJ’s top antitrust official — to recuse himself
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By Clare Duffy, CNN Business “Change is going to come. No question.” “We are serious about taking action.” “Here’s my message for Mark Zuckerberg: Your time of invading our privacy, promoting toxic content, and preying on children and teens is over. Congress will be taking action.” Facebook, now known as Meta, has faced scrutiny on
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By Paul R. La Monica, CNN Business Bitcoin prices have pulled back lately — but Goldman Sachs still sees strong gains ahead in the coming years. The world’s most valuable cryptocurrency has fallen to about $43,000 after surging to a record high near $69,000 in November. Yet Goldman Sachs said in a report this week
Continue Reading By Anna Bahney, CNN Business For many people, buying a home just wasn’t in the cards this year. There were too few homes for sale that were too expensive to buy. Indeed, home prices have been on a tear, with third quarter home prices up more than 18% from a year earlier, according to the
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