By Matt Egan, CNN BlackRock, the world’s largest asset manager, is cutting about 500 jobs following a period of rapid hiring. A spokesperson for BlackRock told CNN on Wednesday that the layoffs amount to less than 3% of the company’s workforce. BlackRock, a leader on Wall Street, has been on a major hiring spree in
Continue Reading By Oliver Darcy, CNN Business CNN on Wednesday announced a revamped dayside programming lineup that the network said will employ a new format for shows to deliver the news to viewers. The cable news channel — which has been led since last spring by a new chairman and chief executive, Chris Licht — said in
Continue Reading By Clare Duffy, CNN A law firm representing dozens of former UK Twitter employees is accusing the company of “unlawful, unfair and completely unacceptable treatment” of workers following recent mass layoffs, which the firm referred to as a “sham redundancy process.” In a letter sent to the company on Monday, law firm Winckworth Sherwood alleged
Continue Reading By Jeanne Sahadi, CNN The pandemic has transformed work over the past three years in ways few expected. It normalized remote work, created a shortage of critical workers and drove home to organizations that employees’ mental health and need for a sane work-life balance are critical to retention and engagement. So what does 2023 likely
Continue Reading By Matt Egan The federal government isn’t going to take away your gas stove, a top consumer regulator told CNN on Wednesday. Richard Trumka Jr, a US Consumer Product Safety commissioner, set off a firestorm this week by suggesting the agency could ban gas stoves because they have been linked to childhood asthma. Trumka confirmed
Continue Reading By Matt Egan The federal government isn’t going to take away your gas stove, a top consumer regulator told CNN on Wednesday. Richard Trumka Jr, a US Consumer Product Safety commissioner, set off a firestorm this week by suggesting the agency could ban gas stoves because they have been linked to childhood asthma. Trumka confirmed
Continue Reading By Oliver Darcy, CNN Business NBC News president Noah Oppenheim will exit the network as part of a restructuring announced Wednesday that will replace his role with three executives, including Rebecca Blumenstein, a deputy managing editor of The New York Times. Blumenstein, who has a lengthy history working in print and digital, but notably lacks
Continue Reading By Brian Fung, CNN President Joe Biden called on members of Congress Wednesday to set aside partisan differences and pass groundbreaking legislation to rein in Big Tech, focusing on digital privacy, antitrust and the industry’s liability shield, Section 230 of the Communications Decency Act. In a Wall Street Journal op-ed, Biden said that despite making
Continue Reading By Catherine Thorbecke, CNN Workers at Apple’s first unionized retail store began collectively bargaining with management on Wednesday, in a milestone moment not only for the iPhone company but for all of Big Tech. Apple store workers in Towson, Maryland, who made history in June by voting to form the first union at one of
Continue Reading By Paul R. La Monica, CNN Netflix had the kind of year in 2022 that only the ghoulishly morbid Wednesday Addams would love. But, now, in part due to a sagging dollar, the picture is getting brighter. Netflix shares plunged more than 50% last year due to concerns about streaming subscription fatigue, increased competition from
Continue Reading By Brian Fung and Christopher Hickey, CNN More than half of all US states have partially or fully banned TikTok from government devices, according to a CNN analysis, reflecting a wave of recent clampdowns by governors and state agencies targeting the short-form video app. The accelerating backlash by states against TikTok, which has at least
Continue Reading By Vanessa Yurkevich, CNN Jerome Yankey said he used to pull all-nighters when he was in college — not studying or partying, but scrolling on TikTok until the sun came up. “I saw me not putting the effort into my own life, rather just trying to live vicariously through what I’m seeing,” said 23-year old
Continue Reading By Allison Morrow, CNN FTX officials overseeing its bankruptcy have recovered more than $5 billion in cash and other liquid assets that may be used to help repay creditors, a lawyer for the failed crypto firm said during a bankruptcy court hearing Wednesday. That disclosure significantly raises the estimated amount of funds FTX claims to
Continue Reading By Julia Horowitz, CNN Business executives, politicians and academics are bracing for a gloomy world battered by intersecting crises, as rising volatility and depleted resilience boost the odds of painful simultaneous shocks. In its annual survey of risks published Wednesday, the World Economic Forum found that more than 80% of respondents expected either “persistent crises”
Continue Reading By Jordan Valinsky, CNN Business Netflix will air a live awards show for the first time, marking the streamer’s latest expansion into live programming and further cementing its influence in Hollywood. Beginning in 2024, the Screen Actors Guild Awards will be live-streamed globally on Netflix as part of a new, multi-year partnership. The awards show
Continue Reading By Chris Isidore, CNN Business A critical Federal Aviation Administration computer system that experienced an outage Wednesday and briefly halted all US flights provides airlines with a digital bulletin board of crucial safety updates. The system is known as the Notice to Air Missions or NOTAM. It send alerts to pilots to let them know
Continue Reading By Anna Cooban, CNN Gold is shining once again, as investors bet that cooling inflation in the United States will slow the pace of Fed rate hikes and make the precious metal more attractive. Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce on Wednesday. Investors tend
Continue Reading By Chris Isidore, CNN Business A critical Federal Aviation Administration computer system that experienced an outage Wednesday and briefly halted all US flights provides airlines with a digital bulletin board of crucial safety updates. The system is known as the Notice to Air Missions or NOTAM. It send alerts to pilots to let them know
Continue Reading By Chris Isidore, CNN Naniaka Camara grew up near Montefiore Hospital in the Bronx in New York and remembers going there for her own medical care. A Montefiore nurse for the past three years, she still lives only minutes from the hospital and often knows the patients from her neighborhood she cares for. She loves
Continue Reading By Jordan Valinsky, CNN Business Pepsi is reaching for the stars in its latest effort to take on Sprite. Starry, a new lemon-lime soda, is rolling out to grocery and convenience stores this week. It’s replacing Sierra Mist, a 24-year-old brand that has failed to gain traction against market leader Sprite, which is owned by
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