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T-Mobile to lay off 5,000 employees

By Clare Duffy, CNN New York (CNN) — T-Mobile on Thursday announced it plans to lay off 5,000 employees, or around 7% of its total staff, over the next five weeks. The reductions will largely affect corporate and back-office jobs that are “primarily duplicative” to other roles and will reduce the company’s middle management layers,

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CNN is launching a live service on Max with new programming as the network reboots its streaming efforts

By Oliver Darcy, CNN New York (CNN) — CNN is heading to the Max streaming platform. The network’s parent company, Warner Bros. Discovery (WBD), announced Thursday that it will incorporate live news into its super-streamer Max service, allowing subscribers access to 24/7 programming from the global news brand. The service, which launches a little more

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Tornado Cash crypto firm founders indicted for allegedly laundering money for North Korean hackers

By Ramishah Maruf, CNN New York (CNN) — Two co-founders of cryptocurrency giant Tornado Cash, one of them a Russian national and the other an executive in Washington state, have been charged with operating a crypto scheme that allegedly laundered hundreds of millions of dollars for North Korean hackers, according to a federal indictment unsealed

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Conservative activist who took down affirmative action is now going after law firms’ diversity programs

By Bryan Mena, CNN Washington, DC (CNN) — The conservative activist behind the Supreme Court case that struck down affirmative action in college admissions this year is suing two international law firms for providing diversity fellowships. The two lawsuits filed by the American Alliance for Equal Rights this week against law firms Perkins Coie and

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Peloton stock plunges after 20,000 members canceled subscriptions while waiting for recall

By Jordan Valinsky, CNN New York (CNN) — A Peloton recall involving the adjustable seat on more than two million bikes is becoming a bigger headache than expected. Shares of the fitness company plummeted 20% in early trading Wednesday after another dismal earnings report that revealed the recall’s price tag “substantially exceeded” Peloton’s expectations, costing

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Germany’s economy hasn’t looked this weak since the start of the pandemic

By Hanna Ziady, CNN London (CNN) — Germany suffered the steepest decline in business activity for more than three years this month, according to survey data published Wednesday, stoking fears that Europe’s biggest economy is falling back into recession. An initial reading of the country’s Purchasing Managers’ Index (PMI), which tracks activity in the manufacturing

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