By Paul R. La Monica, CNN Business Unicorns, the nickname for multi-billion dollar startups looking to go public, are starting to become an endangered species on Wall Street. (Of course, unicorns are also fictitious beasts. But you catch our drift.) The market for initial public offerings, as well as for SPACs — companies debuting through
Continue Reading By Matt McFarland, CNN Business Carmine Cupani wanted to set the record straight. So he asked his young son to stand in the path of his Tesla as it sped through a parking lot. The North Carolina resident set out to refute a widely circulated video of a Tesla with the company’s “full self-driving” beta
Continue Reading By Frank Pallotta, CNN Business In Hollywood, there’s the reboot, the remake and the requel. But now, coming this summer to a theater near you: the re-release. The box office has entered the dog days of summer, in which big ticket sales and new releases are hard to come by. In the meantime, amid the
Continue Reading By Peter Valdes-Dapena, CNN Business Bugatti has unveiled what the French automaker hopes will be the world’s fastest convertible. The 1,600-horsepower, $5 million W16 Mistral is, essentially, an open-topped version of the Bugatti Chiron supercar, though there are major design differences. It is also Bugatti’s last gasoline-only car. Future models will be hybrid. Only 99
Continue Reading By Paul R. La Monica, CNN Business So much for hopes that the Federal Reserve will tap the brakes on its aggressive interest rate hikes. Stocks tumbled Monday as investors once again began to worry that the central bank will raise rates by three-quarters of a point next month. The Dow ended the day with
Continue Reading Opinion by Bill Carter for CNN Business Perspectives In July, TBS announced that, after seven seasons, “Full Frontal with Samantha Bee” would not be returning, and Desus Nice and The Kid Mero disclosed that their Showtime show, “Desus & Mero,” was ending. That news came just months after James Corden revealed that he’d be leaving
Continue Reading By Parija Kavilanz, CNN Business Walmart, the nation’s largest private employer, is expanding travel and abortion coverage for its US employees effective immediately. The company’s healthcare plans will now cover abortion under certain circumstances: when there is a health risk to the mother, rape or incest, ectopic pregnancy, miscarriage or lack of fetal viability, according
Continue Reading By Nicole Goodkind, CNN Business Dan Price was the poster child for resisting corporate greed, making headlines in 2015 for setting a minimum $70,000 salary for all employees at the payments company he led — saying he cut his own salary as CEO by 90% to achieve it. On Wednesday, amid allegations of misconduct and
Continue Reading By Peter Valdes-Dapena, CNN Business Bugatti has unveiled what the French automaker hopes will be the world’s fastest convertible. The 1,600-horsepower, $5 million W16 Mistral is, essentially, an open-topped version of the Bugatti Chiron supercar, though there are major design differences. It is also Bugatti’s last gasoline-only car. Future models will be hybrid. Only 99
Continue Reading By Brian Fung, CNN Business Meta has permanently removed Facebook and Instagram accounts belonging to Children’s Health Defense, the anti-vaccine group led by Robert F. Kennedy, Jr., Meta confirmed to CNN on Friday. The accounts each had hundreds of thousands of followers, CHD said on its website, where it posted screenshots of messages it said
Continue Reading By Jordan Valinsky, CNN Business McDonald’s Chicken Big Mac was a huge hit in the United Kingdom. Now it’s crossing the pond. Beginning later this month, the burger chain is testing the fan favorite at select restaurants in Miami for a limited time. The Chicken Big Mac is similar to its meaty sibling, however it
Continue Reading By Anna Cooban, CNN Business The owner of Regal Cinemas is having a tough time — its stock crashed as much as 80% Friday after reports that its parent company is preparing to file for bankruptcy. British company Cineworld Group has spoken to lawyers at Kirkland & Ellis LLP to advise on the bankruptcy process
Continue Reading By Anna Cooban, CNN Business The owner of Regal Cinemas is having a tough time — its stock crashed as much as 80% Friday after reports that its parent company is preparing to file for bankruptcy. British company Cineworld Group has spoken to lawyers at Kirkland & Ellis LLP to advise on the bankruptcy process
Continue Reading By Rishi Iyengar, CNN Business Apple is directing users of most of its devices to update their software after the company discovered a vulnerability in its operating systems that it says “may have been actively exploited.” In security updates posted online on Wednesday and Thursday, Apple said the vulnerability affects iPhones dating back to the
Continue Reading By Jordan Valinsky, CNN Business Wayfair is cutting nearly 900 jobs, or about 5% of the once-hot online retailer’s global workforce, as it looks to regain its financial footing in a post-pandemic future. The company said in a regulatory filing that the cuts will help it “manage operating expenses and realign investment priorities.” Shares fell
Continue Reading Martha C. White for CNN Business The pandemic forced Freed Bodyworks, a wellness center offering massage therapy, yoga, acupuncture, mental health counseling and other services, to shut down for four months. But while clients returned when it reopened in the summer of 2020, workers did not. Almost two years later, owners Frances Reed and Jessica
Continue Reading By Nicole Goodkind, CNN Business The bears and bulls are at it again. Markets have seemingly recovered from a miserable downturn in mid-June that sent the S&P 500 down more than 20%, but analysts and investors can’t tell whether it’s clear skies ahead or if they’re in the eye of the storm. Things are looking
Continue Reading By Jordan Valinsky, CNN Business The cord has been cut. For the first time ever, Americans are watching more streaming TV than cable, according to a report from Nielsen. The milestone has long been expected as viewers change their viewing habits and ditch their pricey cable bundles for cheaper alternatives. In July, streaming amounted to
Continue Reading By Parija Kavilanz, CNN Business Lab-grown diamonds have become so popular with consumers that some couples are asking jewelers to swap the natural diamond in their rings for a lab-created sparkler. “Just last week we had three or four couples who’ve been married for a few years come to us to upgrade the diamond on
Continue Reading By Rishi Iyengar, CNN Business Apple is directing users of most of its devices to update their software after the company discovered a vulnerability in its operating systems that it says “may have been actively exploited.” In security updates posted online on Wednesday and Thursday, Apple said the vulnerability affects iPhones dating back to the
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