By Peter Valdes-Dapena, CNN Business Whenever traffic slowed, which happens a lot when you’re heading out of New York City on a Friday afternoon, people wanted to look at the bright blue pickup I was driving. Some wanted to ask questions. Fortunately, an engineer who helped design the truck was riding with me, and rolled
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By Nathaniel Meyersohn and Anneken Tappe, CNN Business You’ve probably noticed that prices have gone up on groceries, essentials, home appliances, fast food and all sorts of consumer goods. Inflation is at more than a decade-long high. That means 2021 will be among the most expensive holiday shopping seasons ever. But shoppers aren’t holding back
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By Julia Horowitz, CNN Business As world leaders gather in Glasgow for the COP26 climate summit on Sunday, there are plenty of reasons for companies and investors to watch closely. Here’s just one: Experts are warning that the climate crisis could trigger the next financial meltdown. “The climate crisis is slow in the making, but
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By Pete Muntean and Ramishah Maruf, CNN American Airlines canceled another 634 flights on Sunday, more than 12% of its total operations for the day, the company said Sunday. The airline has now canceled more than 1,500 flights since Friday, as it deals with weather issues and staffing shortages that started last week. “With additional
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By Jessie Yeung and Swati Gupta, CNN Anish Yadav was sleeping in his home, a fragile hut made of wood and plastic, when the water rushed in. A concrete retaining wall that had previously held back monsoon floodwaters had collapsed, sending a deluge through Yadav’s slum in Malad, a northern suburb in India’s financial hub
Continue Reading By Jessie Yeung and Swati Gupta, CNN Anish Yadav was sleeping in his home, a fragile hut made of wood and plastic, when the water rushed in. A concrete retaining wall that had previously held back monsoon floodwaters had collapsed, sending a deluge through Yadav’s slum in Malad, a northern suburb in India’s financial hub
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By Ramishah Maruf, CNN Business GameStop chief operating officer Jenna Owens is leaving the company seven months after joining it, the company said in a regulatory filing. The Texas-based company did not specify why Owens was leaving. The filing said both parties entered a separation agreement which went into effect on October 25. Owens could
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By Ramishah Maruf and Pete Muntean, CNN Business American Airlines canceled hundreds of flights during the weekend, citing bad weather and staffing shortages, the company announced in a statement. Two days of severe winds in Dallas-Fort Worth, its largest hub, sharply reduced its arrival capacity, the company said. Flights were also affected at its Charlotte,
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Vanessa Yurkevich, CNN Business John Deere and the United Auto Workers Union have reached a new tentative agreement, more than two weeks after 10,000 John Deere workers went on strike, both parties announced Saturday. “Our UAW John Deere national bargaining team went back to our local members after the previous tentative agreement and canvassed the
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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. Fox News is not officially commenting on the record, but it seems the right-wing talk network is quietly trying to distance itself from Tucker Carlson’s 1/6 trutherism. That’s the takeaway
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. Fox News is not officially commenting on the record, but it seems the right-wing talk network is quietly trying to distance itself from Tucker Carlson’s 1/6 trutherism. That’s the takeaway
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By Sana Noor Haq, CNN Social media users in Israel are mocking Facebook’s company name change to Meta, as it sounds similar to the Hebrew word for “dead.” Many Twitter users scoffed at the social media company’s rebrand — revealed by founder Mark Zuckerberg earlier this week — using the hashtag #FacebookDead. “Somebody did not
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By Sara Ashley O’Brien, CNN Business This week in the criminal trial of Elizabeth Holmes, jurors heard how the billionaire family of former Education Secretary Betsy DeVos eagerly poured nearly $100 million into failed blood-testing startup Theranos after a visit to its Palo Alto headquarters. The DeVos family, whose fortune stems from multilevel-marketing company Amway,
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By Tara Subramaniam, CNN Business One week ago, a consortium of 17 news outlets, including CNN, began publishing a damning series of stories — collectively called “The Facebook Papers” — based on thousands of pages of internal company documents. These documents are disclosures made to the Securities and Exchange Commission and provided to Congress in
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By Julia Horowitz, CNN Business The people who made their fortunes in the oil capital of Europe need a new plan. For decades, Aberdeen, a port city on Scotland’s northeast coast, has served as the commercial gateway to the North Sea, where powerful companies have navigated deep and dangerous waters to extract tens of billions
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By Ramishah Maruf, CNN Business Billionaire Charlie Munger is bankrolling the design of a massive dormitory at the University of California, Santa Barbara. The $1.5 billion project comes with a major catch — 94% of the dorm’s single occupancy rooms are in the interior of the building, and have no windows. A consulting architect on
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By Paul R. La Monica, CNN Business October may be notorious for big market crashes. But this month was more of a Rocktober than Shocktober for stocks. Despite some notable drops in big techs Friday following disappointing sales from Apple and Amazon, the broader market still finished October with healthy gains. The Dow closed about
Continue Reading By Paul R. La Monica, CNN Business October may be notorious for big market crashes. But this month was more of a Rocktober than Shocktober for stocks. Despite some notable drops in big techs Friday following disappointing sales from Apple and Amazon, the broader market still finished October with healthy gains. The Dow closed about
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By Nathaniel Meyersohn, CNN Business Amazon’s rise has been relentless for more than a decade, with regulators and rivals alike failing to slow it. But now Amazon has taken a hit from a pair of immovable forces: snarled supply chains and worker shortages. The company’s third-quarter earnings and sales fell well short of Wall Street’s
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By Sean Lyngaas, CNN Business A Minnesota man has been charged with hacking into computer systems used by Major League Baseball and trying to extort the league for $150,000, the US Attorney’s Office of the Southern District of New York said Thursday. In emails with an MLB executive, Joshua Streit, 30, threatened to publicize the
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