By Paul R. La Monica, CNN Business Hertz has made a lot of headlines lately thanks to its deals with Tesla and Uber. Wall Street has noticed, too. But rival rental car company Avis Budget is doing even better. Hertz stock, which currently is listed on Nasdaq’s bulletin board and hopes to return to the
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By Matt Egan, CNN Business Democrats’ $1.75 trillion economic and climate bill could end up delivering a tax cut for the richest 5% of Americans, a new analysis finds. The Build Back Better framework released by the White House last week calls for tax increases on the richest families, including a surtax on multi-millionaires and
Continue Reading By Matt Egan, CNN Business Democrats’ $1.75 trillion economic and climate bill could end up delivering a tax cut for the richest 5% of Americans, a new analysis finds. The Build Back Better framework released by the White House last week calls for tax increases on the richest families, including a surtax on multi-millionaires and
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By Mark Thompson, CNN Business The American chief executive of Barclays, Jes Staley, is stepping down with immediate effect following an investigation by British regulators into his relationship with disgraced financier Jeffrey Epstein, the bank said on Monday. The investigation by the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA)
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By Walé Azeez, CNN Business Elon Musk has offered to sell some of his Tesla stock “right now” if the UN can prove that $6 billion will solve world hunger. His comments came after UN World Food Programme (WFP) director David Beasley challenged the ultra-wealthy — and in particular the world’s two richest men Jeff
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By Pete Muntean and Chris Isidore, CNN Business American Airlines has canceled another 250 flights on Monday, continuing a days-long chain reaction of cancellations that started last week. American says it canceled 1,058 flights on Sunday, or roughly one in every five of its originally scheduled flights. That was on top of the 548 flights
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By Julia Horowitz, CNN Business Another strong earnings season is cheering investors and pushing US stocks to record highs. What’s happening: More than half of the companies in the S&P 500 have reported results. According to FactSet, 82% have beat Wall Street’s profit expectations. That’s helping to produce a “greed” reading on the CNN Business
Continue Reading By Julia Horowitz, CNN Business Another strong earnings season is cheering investors and pushing US stocks to record highs. What’s happening: More than half of the companies in the S&P 500 have reported results. According to FactSet, 82% have beat Wall Street’s profit expectations. That’s helping to produce a “greed” reading on the CNN Business
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By Pete Muntean, CNN Southwest Airlines says it is launching an internal investigation after a report that one of its pilots used anti-Biden slang over a plane’s public address system during a flight. “Southwest does not condone Employees sharing their personal political opinions while on the job,” the airline said in a Sunday statement. “Southwest
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By Jordan Valinsky, CNN Business It’s hard to relax on a flight, but Peloton is hoping to help. The fitness company is partnering with Delta Air Lines to bring some of its classes to the airline’s in-flight entertainment systems. Five stretching and meditation custom classes produced exclusively for Delta are now available on planes with
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By Jill Disis, CNN Business China’s big factories just had their worst month since the Covid-19 pandemic began, underscoring the scale of the slowdown in the world’s second largest economy and the supply challenges facing their customers. A government survey of manufacturing activity released over the weekend fell for a second straight month, down to
Continue Reading By Mark Thompson, CNN Business The American chief executive of Barclays, Jes Staley, is stepping down with immediate effect following an investigation by British regulators into his relationship with disgraced financier Jeffrey Epstein, the bank said on Monday. The investigation by the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA)
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By Michelle Toh, CNN Business Kuaishou, the Chinese short video-sharing app that’s known as a popular alternative to TikTok, has replaced its CEO — the latest leadership reshuffle in Chinese tech. The Beijing-based company announced late Friday that co-founder Su Hua was stepping down from the role, while staying on as chairman of the board.
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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. The distance between Trump America’s perception of January 6 and the rest of America’s understanding of the attack is growing so wide, it cannot be bridged. To see what I
Continue Reading By Pete Muntean, CNN Southwest Airlines says it is launching an internal investigation after a report that one of its pilots used anti-Biden slang over a plane’s public address system during a flight. “Southwest does not condone Employees sharing their personal political opinions while on the job,” the airline said in a Sunday statement. “Southwest
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By Chris Isidore, CNN Business Canceled flights, packed planes, rising fares and violent outbursts are the new normal for air travel. Flying is getting worse for both passengers and crews. The problems run deeper than the operational meltdowns that caused Southwest and American Airlines to cancel thousands of flights over four-day periods in recent weeks,
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By Ramishah Maruf, CNN Business CNN media analyst Bill Carter compared Rupert Murdoch to a “robber baron” on “Reliable Sources” Sunday, referencing his disruptive role in the media as threats to American democracy become more mainstream. “He basically came in like the guys in the 19th century,” Carter said, “and in the pursuit of wealth
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. The distance between Trump America’s perception of January 6 and the rest of America’s understanding of the attack is growing so wide, it cannot be bridged. To see what I
Continue Reading By Frank Pallotta, CNN Business Fire alarms, teasing Tom Brady and flipping the double bird on live television. These are just some of the viral moments from “Monday Night Football with Peyton & Eli.” Also known as the “Manning Cast” — as in the brothers and former NFL quarterbacks — it feels more like a
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By Frank Pallotta, CNN Business This Halloween caps off a strong October for the North American box office. The holiday season could be even merrier. The domestic box office is set to bring in more than $600 million this month, according to Comscore, and each week in October had a big film opening, thanks to
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