By Brian Fung, CNN US senators said Wednesday that bipartisan support is growing for revising a federal immunity law for tech platforms and websites known as Section 230 of the Communications Decency Act, a warning aimed squarely at large social media platforms. “Here’s a message to Big Tech: Reform is coming,” said Sen. Richard Blumenthal,
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By Sean Lyngaas, CNN The Chinese government could use TikTok to control data on millions of people and harness the short-form video app to shape public opinion should China invade Taiwan, FBI Director Christopher Wray told the Senate Intelligence Committee Wednesday. Wray responded affirmatively to questions from Republican Sen. Marco Rubio of Florida, the panel’s
Continue Reading By Sean Lyngaas, CNN The Chinese government could use TikTok to control data on millions of people and harness the short-form video app to shape public opinion should China invade Taiwan, FBI Director Christopher Wray told the Senate Intelligence Committee Wednesday. Wray responded affirmatively to questions from Republican Sen. Marco Rubio of Florida, the panel’s
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By Brian Fung, CNN The Federal Trade Commission has acknowledged a wide-ranging investigation into Twitter’s privacy practices after a House subcommittee on Tuesday disclosed a dozen letters from the agency to the company seeking information about its operations under new CEO Elon Musk. The acknowledgment marks a rare public confirmation of a probe linked to
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By Alicia Wallace, CNN There’s a slight chill running through the US labor market, but the temperature is still too high for the Federal Reserve. The number of job openings in the United States fell to 10.8 million in January, down from an upwardly revised 11.23 million in December, the Bureau of Labor Statistics reported
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By Alicia Wallace, CNN February’s jobs report had a little something for everyone. For workers, there were jobs; for employers, there were workers filling shortfalls caused by the pandemic; for the Federal Reserve, there were indications that the labor market was loosening and wage pressures were easing. Then again, the total of 311,000 net jobs
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By Anna Bahney, CNN The United States is not building enough homes to account for the number of people setting up their own households. As a result, there is a sizable shortage of new homes after more than a decade of under-building relative to population growth, according to a new analysis from Realtor.com released Wednesday.
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By Oliver Darcy, CNN Fox Corporation CEO Lachlan Murdoch on Thursday dismissed the revelations from Dominion Voting Systems’ $1.6 billion defamation lawsuit against Fox News as “noise,” throwing his support behind the right-wing talk channel in his first comments since the case enveloped the company in major scandal. “I think a lot of the noise
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By Oliver Darcy, Jon Passantino, Marshall Cohen, Nicki Brown, Kate Trafecante, Anna Bahney and Jeanne Sahadi, CNN A trove of text messages, emails, and other material from Fox News executives and on-air personalities were made public Tuesday as part of Dominion Voting Systems’ $1.6 billion defamation lawsuit against the right-wing channel. Among the the hundreds
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By Chris Isidore, CNN Federal safety regulators are investigating Tesla’s Model Y SUV after at least two instances in which owners said their steering wheels became detached while the vehicle was being driven. The National Highway Traffic Safety Administration is looking at the 2023 model year. It said in the two instances in which the
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By Anna Cooban, CNN Adidas has warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it may have to write off the entire range of Yeezy-branded clothing and sneakers. The German sportswear maker said Wednesday that it would face an operating loss of €700 million
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By Jeremy Diamond and Brian Fung, CNN The White House’s endorsement of a bill that would give the Biden administration new powers to restrict or ban TikTok in the United States marks a significant shift in the White House’s approach to the Chinese-owned social media app. It’s also a move that the White House has
Continue Reading By Jeremy Diamond and Brian Fung, CNN The White House’s endorsement of a bill that would give the Biden administration new powers to restrict or ban TikTok in the United States marks a significant shift in the White House’s approach to the Chinese-owned social media app. It’s also a move that the White House has
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By Nicole Goodkind, CNN Federal Reserve Chairman Jerome Powell on Tuesday cleared the way for larger interest rate hikes at this month’s central bank policy meeting, sending markets into a tailspin. In his remarks to the Senate Committee on Banking, Powell said that economically painful interest rate hikes are “likely to be higher than previously
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By Danielle Wiener-Bronner, CNN Why aren’t prices falling at the grocery store? When food producers started raising prices a few years ago, they blamed their own costs, including higher ingredient prices. But ingredient prices have actually been on a downswing for months, and individuals are still paying more for food. In part, it’s because food
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By Chris Lau and Kathleen Magramo, CNN Donning a sassy piece of silk lingerie, a male model grooves to the beat and forms a heart shape with his fingers during a livestreaming session on Douyin, one of China’s most popular video-sharing platforms. His modeling performance is the latest illustration of the kind of entrepreneurial innovation
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By Anna Cooban, CNN Investors are bucking tradition this year by piling into big bank stocks just as major economies are expected to either slow down or fall into recession. The Stoxx Europe 600 Banks index, a group of 42 big European banks, climbed 21% between the start of the year and late February —
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By Julia Horowitz, CNN The International Monetary Fund has drawn criticism for forecasting that Russia will see stronger economic growth this year than either the United Kingdom or Germany, despite rising pressure from Western sanctions. But Kristalina Georgieva, the IMF’s managing director, told CNN’s Poppy Harlow that the economic outlook for Russia beyond 2023 is
Continue Reading By Chris Lau and Kathleen Magramo, CNN Donning a sassy piece of silk lingerie, a male model grooves to the beat and forms a heart shape with his fingers during a livestreaming session on Douyin, one of China’s most popular video-sharing platforms. His modeling performance is the latest illustration of the kind of entrepreneurial innovation
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By Catherine Thorbecke, CNN Elon Musk on Tuesday offered an optimistic picture for how Twitter can improve the advertising business he helped derail and boost its bottom line while also admitting that keeping the social network running is proving to be a challenge after multiple rounds of layoffs. In remarks at a Morgan Stanley Conference,
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