By Sara Ashley O’Brien, CNN Business Elizabeth Holmes, the former CEO and founder of failed blood testing startup Theranos, was found guilty on four charges of defrauding investors, capping off the stunning downfall of a former tech icon. She was found not guilty on three additional charges concerning defrauding patients and one charge of conspiracy
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By Sara Ashley O’Brien, CNN Business Editor’s Note: The jury has now returned a verdict in the trial of Elizabeth Holmes. Read the full story here. The jury tasked with determining the fate of Elizabeth Holmes, the former CEO and founder of failed blood testing startup Theranos in her criminal trial, said that it remains
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By Paul R. La Monica, CNN Business Wall Street is having a topsy-turvy moment. Long-term Treasury yields have shot up dramatically, and investors in stocks are cheering the bond market’s big moves. That doesn’t happen often. So what gives? Rising rates are supposed to be a bad sign for stocks. In theory, higher yields for
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By Julia Horowitz, CNN Business The first trading day of the year featured a major milestone for Corporate America and financial markets. What’s happening: On Monday, Apple became the first public company to reach a market value of $3 trillion when its shares briefly hit an all-time high. For comparison, the entire UK economy is
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By Donie O’Sullivan, CNN Facebook has blocked Rep. Marjorie Taylor Greene from posting on its platform for 24 hours, the Georgia Republican said Monday. The congresswoman reacted to the temporary Facebook ban through her Telegram account, writing, “Facebook has joined Twitter in censoring me.” A spokesperson for Meta, Facebook’s parent company, said Facebook removed one
Continue Reading By Donie O’Sullivan, CNN Facebook has blocked Rep. Marjorie Taylor Greene from posting on its platform for 24 hours, the Georgia Republican said Monday. The congresswoman reacted to the temporary Facebook ban through her Telegram account, writing, “Facebook has joined Twitter in censoring me.” A spokesperson for Meta, Facebook’s parent company, said Facebook removed one
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By Anneken Tappe, CNN Business Start the year how you intend to spend it, right? For the Dow, that means at all-time highs. The index finished up 0.7%, or nearly 250 points, on Monday, logging a new record high on the first trading day of 2022. Similarly, the S&P 500, the broadest measure of Wall
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By Chris Isidore, CNN Business Toyota is about to become the leader in US auto sales for the first time, taking away a title that General Motors has held for nearly a century. It’s yet another sign that US automakers have lost their dominance in their home market. As recently as 2005, Toyota was No.
Continue Reading By Sara Ashley O’Brien, CNN Business Editor’s Note: The jury has now returned a verdict in the trial of Elizabeth Holmes. Read the full story here. The jury tasked with determining the fate of Elizabeth Holmes, the former CEO and founder of failed blood testing startup Theranos in her criminal trial, said that it remains
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By Peter Valdes-Dapena, CNN Business Mercedes has unveiled a new all-electric concept car, the EQXX, that the company claims can go 620 miles on a single charge. The futuristic luxury car is also made with a host of innovative recycled and sustainable materials including mushroom fibers, ground up cacti and trash such as food scraps.
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By Paul R. La Monica, CNN Business Movie theater chain AMC was a darling of the meme stock crowd in 2021, soaring nearly 1,200% last year thanks to love from rowdy Reddit fans. So what does AMC plan to do for a sequel? For starters, it wants to clean up its balance sheet, which is
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By Paul R. La Monica, CNN Business Apple has reached yet another major milestone. The iPhone maker topped a market value of $3 trillion Monday — the first publicly traded company ever to be worth that much. Shares of Apple were briefly up about 3% to a new all-time high of $182.88, surpassing the $182.85
Continue Reading By Peter Valdes-Dapena, CNN Business Mercedes has unveiled a new all-electric concept car, the EQXX, that the company claims can go 620 miles on a single charge. The futuristic luxury car is also made with a host of innovative recycled and sustainable materials including mushroom fibers, ground up cacti and trash such as food scraps.
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By Paul R. La Monica, CNN Business The calendar has flipped to 2022 but investors are still partying like it’s 2021. Stocks remained near record levels Monday, the first trading day of the year, and investors are ramping up the greed. The CNN Business Fear & Greed Index, which measures seven indicators of Wall Street’s
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By Jeanne Sahadi, CNN Business Having to negotiate for what you want can feel like getting a root canal. You’d rather not do it, but sometimes it’s necessary. That’s especially the case when it comes to money. Whether you’re negotiating for a higher salary, trying to settle on a price for something you’re buying, or
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By Jordan Valinsky, CNN Business To comply with the Biden administration’s upcoming vaccine mandate, Starbucks is requiring its workers to be fully vaccinated against Covid-19 or undergo weekly testing, the company recently told employees. In a letter from Starbucks Chief Operating Officer John Culver, the coffee chain told its approximately 220,000 US employees they must
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By Matt Egan Goldman Sachs is joining a growing list of Wall Street firms advising employees to stay home due to soaring Covid cases. The bank sent a memo Sunday encouraging employees who can work remotely to do so until January 18, a Goldman Sachs spokesperson told CNN. Goldman Sachs cited “rising community infections” in
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Opinion by Mark Wolfe for CNN Business Perspectives The Build Back Better bill, the large social safety net and environmental spending bill being considered by Congress, is a once-in-a-generation opportunity to address the nation’s growing wealth gap. It would raise taxes on the wealthy and large corporations and then would use those funds to strengthen
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By Brian Fung, CNN Business The nation’s biggest cellular carriers say they won’t further delay the rollout of 5G wireless service near airports — ratcheting up tensions between transportation officials and the telecom industry ahead of a critical deadline this week that could trigger widespread US flight delays and diversions. In a letter Sunday reviewed
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By Jordan Valinsky, CNN Business Sweetgreen is hoping to alleviate some of the pain of paying for its expensive salads with a new discount program. Beginning Monday, the salad chain is selling a subscription-like offering called Sweetpass that gives customers as much as 30% off each purchase. With a $10 subscription, a customer will get
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