By Jackie Wattles, CNN Business Richard Branson, the British billionaire and entrepreneur, announced late Thursday that he would attempt to go to space on July 11, just nine days before the world’s richest man, Jeff Bezos, will make his own spaceflight. But even as he effectively cut ahead of Bezos, Branson dismissed the notion of
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By Jackie Wattles, CNN Business Richard Branson, the British billionaire and entrepreneur, announced late Thursday that he would attempt to go to space on July 11, just nine days before the world’s richest man, Jeff Bezos, will make his own spaceflight. But even as he effectively cut ahead of Bezos, Branson dismissed the notion of
Continue Reading By Brian Fung, CNN Business The Federal Trade Commission said Friday it has sued and settled with the technology giant Broadcom over allegations that the company sought to monopolize the supply of semiconductor chips. According to the complaint, Broadcom entered into exclusive anti-competitive deals with its business customers — including television and internet service providers
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By Brian Fung, CNN Business The Federal Trade Commission said Friday it has sued and settled with the technology giant Broadcom over allegations that the company sought to monopolize the supply of semiconductor chips. According to the complaint, Broadcom entered into exclusive anti-competitive deals with its business customers — including television and internet service providers
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By Paul R. La Monica, CNN Business It’s lucky sevens for investors: The blue-chip S&P 500 index rose Friday to close at a record high for the seventh straight day following the strong jobs report. The last time the S&P 500 had this long a streak of all-time high closes was in June 1997, when
Continue Reading By Paul R. La Monica, CNN Business It’s lucky sevens for investors: The blue-chip S&P 500 index rose Friday to close at a record high for the seventh straight day following the strong jobs report. The last time the S&P 500 had this long a streak of all-time high closes was in June 1997, when
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America’s labor market is still far from being back to normal – down 6.8 million jobs compared with February 2020. CNN’s Christine Romans reports.
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Ride-hailer Didi raised $4.4 billion in the IPO, giving it a valuation of more than $67 billion. CNN’s Clare Sebastian reports.
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Ride-hailer Didi raised $4.4 billion in the IPO, giving it a valuation of more than $67 billion. CNN’s Clare Sebastian reports.
Continue Reading By Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by
Continue Reading By Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by
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By Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by
Continue Reading By Chris Isidore, CNN Business Tesla managed to sell more than 200,000 vehicles last quarter, even as the company faced rising prices, a PR disaster in China and a shortage of computer chips. The company also managed to build more than 200,000 cars over the past three months despite those enormous headwinds. The increase in
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By Chris Isidore, CNN Business Tesla managed to sell more than 200,000 vehicles last quarter, even as the company faced rising prices, a PR disaster in China and a shortage of computer chips. The company also managed to build more than 200,000 cars over the past three months despite those enormous headwinds. The increase in
Continue Reading By Chris Isidore, CNN Business Tesla managed to sell more than 200,000 vehicles last quarter, even as the company faced rising prices, a PR disaster in China and a shortage of computer chips. The company also managed to build more than 200,000 cars over the past three months despite those enormous headwinds. The increase in
Continue Reading By Nathaniel Meyersohn, CNN Business If you feel like you’ve seen fewer blowout clothing sales at stores and online, you’re right. And you’re likely to see a near-absence of promotions even through the holidays later this year. Consumer demand for new wardrobes is soaring thanks to stimulus checks and pent-up demand built during the pandemic.
Continue Reading By Nathaniel Meyersohn, CNN Business If you feel like you’ve seen fewer blowout clothing sales at stores and online, you’re right. And you’re likely to see a near-absence of promotions even through the holidays later this year. Consumer demand for new wardrobes is soaring thanks to stimulus checks and pent-up demand built during the pandemic.
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By Nathaniel Meyersohn, CNN Business If you feel like you’ve seen fewer blowout clothing sales at stores and online, you’re right. And you’re likely to see a near-absence of promotions even through the holidays later this year. Consumer demand for new wardrobes is soaring thanks to stimulus checks and pent-up demand built during the pandemic.
Continue Reading America’s labor market is still far from being back to normal – down 6.8 million jobs compared with February 2020. CNN’s Christine Romans reports.
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By Julia Horowitz, CNN Business There’s never been a better time for companies to raise funding from hot markets or make moves to scoop up their competitors. That’s been a huge boon to investment bankers, who are gearing up for another summer of juggling dealmaking with vacations. What’s happening: The US market for initial public
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