By Jackie Wattles, CNN Business Lori Garver spearheaded the NASA program that paved the way for SpaceX to return human spaceflight to the United States after a decade-long wait. In her new book and in a recent interview she reflects on that success, the controversial cast of characters driving this new space race, and the
Continue Reading By Alicia Wallace, CNN Business An inflation gauge closely followed by the Federal Reserve showed consumer prices remained flat in May, indicating that inflation had yet to abate despite the central bank’s initial efforts to cool the economy. The monthly Personal Consumption Expenditures price index increased by 6.3% for the year ended in May, the
Continue Reading By Lucy Bayly, CNN Business Consumer expectations for prices to continue rising over the next year increased to the highest level on record, according to the latest Survey of Consumer Expectations from the Federal Reserve Bank of New York, released on Monday. Median short-term inflation expectations ticked up to 6.8% in June from 6.6% in
Continue Reading By Jordan Valinsky, CNN Business Clearly, this isn’t your father’s RadioShack. The zombie retailer’s Twitter account contains a stream of explicit comments, vulgarities and a bunch of drug references. Many companies have edgy social media presences, but not like this. So what’s going on? RadioShack is trying to sell you cryptocurrency — with an attitude.
Continue Reading By Rachel Metz, CNN Business A million bears walking on the streets of Hong Kong. A strawberry frog. A cat made out of spaghetti and meatballs. These are just a few of the text descriptions that people have fed to cutting-edge artificial intelligence systems in recent weeks, which these systems — notably OpenAI’s DALL-E 2
Continue Reading By Julia Horowitz, CNN Business Dealmaking booms when markets are stable and businesses are feeling good about the economy and access to financing. When conditions deteriorate, confidence flags, and the number of companies going public or pursuing takeovers drops. That’s what is happening now. Details, details: The number of global initial public offerings, or IPOs,
Continue Reading By Nicole Goodkind, CNN Business Prominent Wall Street economists like Mark Zandi, investing luminaries like ARK Invest’s Cathie Wood and executives like JP Morgan Chase CEO Jamie Dimon can make recession predictions until they’re blue in the face, but their guidance will remain just that — an economic forecast. That’s because, in the United States,
Continue Reading By Laura He, CNN Business China’s huge manufacturing and service industries just saw their first month of growth since February, according to surveys published Thursday, as Covid restrictions were eased in many cities. But the shadow of further lockdowns still looms over the world’s second biggest economy as Beijing sends mixed messages about the best
Continue Reading By Parija Kavilanz, CNN Business It has a square shape, no stick, and will make your fingertips cold and sticky as you gingerly bite into its thin chocolate covering to reach the delicious vanilla ice cream encased inside. This is the iconic Klondike ice cream bar, which is hitting a major milestone birthday this year:
Continue Reading By Matt McFarland, CNN Business Tesla is increasingly turning to machines rather than humans as it attempts to develop autonomous vehicles. As part of Tesla’s plans to cut 10% of salaried staff, the company has laid off a significant number of its data annotation specialists. These specialists do grunt work that is critical to empowering
Continue Reading By Brian Fung, CNN A member of the Federal Communications Commission is renewing calls for Apple and Google to remove TikTok from their app stores, citing national security concerns surrounding TikTok’s Chinese-based parent company, ByteDance. In a June 24 letter to the CEOs of Apple (AAPL) and Google (GOOGL), FCC Commissioner Brendan Carr described ByteDance
Continue Reading By Anna Cooban, CNN Business It’s getting harder for shoppers in the United Kingdom to find Heinz baked beans. Blame food price inflation. Tesco, the country’s biggest supermarket chain, has stopped selling some products made by Kraft Heinz in a dispute over prices. Kraft Heinz is behind some of the country’s favorite pantry staples, including
Continue Reading By Anna Cooban, CNN Business It’s getting harder for shoppers in the United Kingdom to find Heinz baked beans. Blame food price inflation. Tesco, the country’s biggest supermarket chain, has stopped selling some products made by Kraft Heinz in a dispute over prices. Kraft Heinz is behind some of the country’s favorite pantry staples, including
Continue Reading By Jordan Valinsky, CNN Business Unilever has sold its Ben & Jerry’s business in Israel to its distributor in the country, following ongoing controversy related to its activities in Israel and the West Bank. Unilever announced Wednesday the sale for an undisclosed amount to American Quality Products (AQP), which distributes Ben & Jerry’s in Israel.
Continue Reading By Clare Duffy, CNN Business In the wake of the Supreme Court’s controversial decision to overturn Roe v. Wade, people have flooded social media platforms with information about how to access in-person or medication abortions to help those in states that have outlawed the procedure or could soon do so. But the situation could create
Continue Reading By Paul R. La Monica, CNN Business Cruise giant Carnival was hit hard during the worst of the pandemic. Now, a top Wall Street analyst has issued a dire potential outlook for the company in the case of recession. Morgan Stanley’s Jamie Rollo outlined a worse-case scenario: Carnival stock could fall to $0 in the
Continue Reading By Lucy Bayly, CNN Business It’s not yet clear if the US economy will ever return to its pre-pandemic status, Federal Reserve Chairman Jerome Powell said Wednesday at a central banker forum in Portugal. “The economy is being driven by very different forces. What we don’t know is whether we’ll be going back to something
Continue Reading By Kathleen Magramo, CNN Journalists from leading international media organizations, including Reuters and CNN, have been barred from covering official ceremonies during Chinese leader Xi Jinping’s visit to Hong Kong later this week. Xi will be in Hong Kong to mark the 25th anniversary of the city’s handover from Britain to China, and it will
Continue Reading By Alicia Wallace, CNN Business The US economy shrank at a slightly faster rate than previously estimated during the first quarter, the Bureau of Economic Analysis said Wednesday. With one quarter of negative economic growth in the books, the data adds to fears that a recession may be looming. Real gross domestic product declined at
Continue Reading Opinion by Dana Peterson for CNN Business Perspectives Aside from, “You’re on mute,” “I quit” has likely become one of the most popular sayings in the US over the last two years. But while more people are returning to in-person meetings, quitting does not appear to be letting up. Indeed, an astounding 4.4 million people
Continue Reading