By Nicole Goodkind, CNN Business Markets plunged on Thursday morning after red-hot inflation data raised fears on Wall Street that the Federal Reserve would continue hiking interest rates aggressively. Then, something strange happened. Stocks staged a massive comeback. The Dow Jones Industrial Average surged 1,500 points from peak to trough and the S&P 500 posted
Continue Reading By Parija Kavilanz, CNN Business Beyond Meat Chief Operating Officer Doug Ramsey is leaving the company after his recent arrest for assault. Ramsey was arrested last month on on charges of “terroristic threatening” and third-degree battery after he allegedly bit a man’s nose following a Arkansas football game. Ramsey was released on an $11,000 bond
Continue Reading By Catherine Thorbecke, CNN Business In the past two months, Apple, Google and Samsung have all unveiled their newest smartphones and other devices with the goal of getting consumers to upgrade ahead of the holidays. But in the process, these and other companies may also be adding to a growing problem: electronic waste. The limited
Continue Reading By Catherine Thorbecke, CNN Business In the past two months, Apple, Google and Samsung have all unveiled their newest smartphones and other devices with the goal of getting consumers to upgrade ahead of the holidays. But in the process, these and other companies may also be adding to a growing problem: electronic waste. The limited
Continue Reading By Jackie Wattles, CNN Four astronauts boarded a SpaceX Crew Dragon capsule and returned home from the International Space Station on Friday, bringing an end to their nearly six-month stay aboard the orbiting laboratory. The astronauts — NASA’s Kjell Lindgren, Bob Hines and Jessica Watkins as well as Italian astronaut Samantha Cristoforetti with the European Space Agency or ESA
Continue Reading By Anna Bahney, CNN Business Home sales in the US declined for the eighth month in a row in September as surging mortgage rates and high prices pushed buyers out of the market. Sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — were down 23.8% in September from a year
Continue Reading By Nathaniel Meyersohn and Jordan Valinsky, CNN Kroger announced Friday that it plans to buy Albertsons in a nearly $25 billion deal that could change the US retail industry and impact how millions of customers buy their groceries. The deal, which is expected to close in 2024, would combine two of the largest supermarket chains
Continue Reading By Anna Cooban and Mark Thompson, CNN Business UK postal service Royal Mail said Friday that it could cut 6,000 jobs as it warned of a big loss this year, which it blamed on a wave of strikes and a decline in its parcel delivery business. About 110,000 Royal Mail staff went on strike on
Continue Reading By Julia Horowitz, Luke McGee and Mark Thompson, CNN Business UK Prime Minister Liz Truss has fired finance minister Kwasi Kwarteng and ditched a big part of her discredited economic strategy in a desperate bid to rescue her month-old premiership. At a Downing Street news conference, Truss said she was scrapping plans to reverse a
Continue Reading By Swati Gupta, Manveena Suri, Rhea Mogul and Heather Chen, CNN Indian health authorities have halted production at a pharmaceutical company in New Delhi after the World Health Organization (WHO) said its cough and cold syrups may be linked to the deaths of dozens of children. The WHO suspects that four of the syrups made
Continue Reading By Oliver Darcy, CNN Business Last Thursday, at precisely 5:29pm Pacific Time, a mysterious Twitter account with the handle @LAunionLaundry posted secretly taped audio of now-former Los Angeles County Federation of Labor chief Ron Herrera. The account tagged two reporters at the Los Angeles Times, as well as the newspaper’s politics account. The move successfully
Continue Reading By Oliver Darcy, CNN Business Last Thursday, at precisely 5:29pm Pacific Time, a mysterious Twitter account with the handle @LAunionLaundry posted secretly taped audio of now-former Los Angeles County Federation of Labor chief Ron Herrera. The account tagged two reporters at the Los Angeles Times, as well as the newspaper’s politics account. The move successfully
Continue Reading By Brian Fung, CNN Business Federal authorities are investigating Elon Musk in connection with his $44 billion acquisition of Twitter, the social media platform said in a court filing Thursday. It is not clear which agencies may be carrying out the probe, and Twitter did not identify what specific actions by Musk US officials may
Continue Reading By Chris Isidore, CNN Business Alex Jones owes $965 million to eight family members of Sandy Hook shooting victims and a first responder. But it is far from clear how much of that money they’ll ever see. Jones was hit with that staggering jury award Wednesday for compensatory damages caused by his repeated lies about
Continue Reading By Oliver Darcy, CNN Business Judgment Day arrived on Wednesday for Alex Jones — and he said that it felt like he landed in Hell. “This must be what Hell’s like,” the notorious right-wing conspiracy theorist said on an Infowars livestream as a Connecticut jury awarded plaintiffs a staggering nearly $1 billion in damages. The
Continue Reading By Oliver Darcy, CNN Business Judgment Day arrived on Wednesday for Alex Jones — and he said that it felt like he landed in Hell. “This must be what Hell’s like,” the notorious right-wing conspiracy theorist said on an Infowars livestream as a Connecticut jury awarded plaintiffs a staggering nearly $1 billion in damages. The
Continue Reading By Jeanne Sahadi, CNN Business Inflation is soaring, markets are down and savings rates are still very low. But there’s one investment that offers a nearly 10% return for the next several months. But you’d need to act quickly. Until the end of this month, you have a chance to lock in a 9.62% rate
Continue Reading By Anna Cooban, CNN Business Postal workers in the United Kingdom are walking out during the busiest period of the year to demand higher pay as cost-of-living pressures mount. As many as 115,000 Royal Mail staff went on strike on Thursday to demand better pay and working conditions. It was the first of 19 days
Continue Reading Opinion by Ryan Roslansky and Byron Auguste for CNN Business Perspectives The urgent business case for finding new ways of hiring has never been clearer. The demand for workers in the US is outpacing the supply, and finding the best talent is going to be increasingly difficult as the world navigates a period of heightened
Continue Reading By Nathaniel Meyersohn, CNN Business Prices at the grocery store continued to soar last month, adding even more pressure to shoppers’ wallets. The food at home index, a proxy for grocery store prices, increased 0.7% in September from the month prior and a stunning 13% over the last year, according to new government data released
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