By Michelle Toh, CNN Business Samsung on Tuesday outlined a plan to pour more than $350 billion into its businesses and create tens of thousands of new jobs over the next five years. Despite an uncertain economic environment exacerbated by long-running supply chain issues and the war in Ukraine, the South Korean conglomerate said that
Continue Reading By Michelle Toh, CNN Business Samsung on Tuesday outlined a plan to pour more than $350 billion into its businesses and create tens of thousands of new jobs over the next five years. Despite an uncertain economic environment exacerbated by long-running supply chain issues and the war in Ukraine, the South Korean conglomerate said that
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By Reuters Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off. Since late April, “the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will report revenue
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By Anna Cooban, CNN Business Brits are bracing for another huge hike in their energy bills, and pressure is mounting on the UK government to impose a windfall tax on big suppliers to offset some of the pain. The head of Ofgem, the United Kingdom’s energy regulator, said on Tuesday that annual bills for millions
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Experts are sounding alarms that the U.S. economy and perhaps much of the globe could be headed toward a recession.
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By Sahar Akbarzai and Michelle Toh, CNN Business Airbnb will shut down its listings in China after two years of lockdowns in the country “with no end in sight,” according to a source familiar with the matter. The home-sharing company made the decision over a decline in business in the world’s second largest economy, and
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In just a few weeks, Art in the Park will return for the first time since before the pandemic. In July, Columbia hosts the Show-Me State Games followed by other sporting events and festivals like Summerfest.
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By Rishi Iyengar, CNN Business Some workers at Activision Blizzard have officially unionized, marking the company’s first union and the video game industry’s most high-profile successful organizing effort. A group of quality assurance employees at Raven Software, a gaming studio owned by Activision Blizzard that works on the company’s popular “Call of Duty” game series,
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By Allison Morrow, CNN Business One of the many buzzwords percolating around Davos this week is “fragmentation,” the force economists there warned could have “devastating human consequences.” By “fragmentation,” they are referring to a breakdown of the kind of free-wheeling, border-crossing trade and investment that’s defined the global economic order over the past three decades.
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By Alicia Wallace, CNN Business Things were looking up for most Americans at the end of last year, with many households reporting their financial situation was better than at any other time since 2013. Nearly 7 out of 10 Americans surveyed by the Federal Reserve said they had the cash or cash equivalents on hand
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By Jackie Wattles, CNN Business Boeing managed to dock a spacecraft at the International Space Station late last week, but it was not without several minor hangups. The mission kicked off Thursday evening with a Florida launch, and the Starliner — which is designed to carry astronauts but is flying without people for this test
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By Paul R. La Monica, CNN Business Investors took a break from selling in May and going away, for one day at least. Stocks soared Monday, as positive news about earnings from banking powerhouse JPMorgan Chase and comments from President Joe Biden about the possibility of lifting some US tariffs on China boosted sentiment on
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By Julia Horowitz, CNN Business The global economy is being brought to the edge of a precipice by crisis upon crisis. As the first World Economic Forum to be held in person since 2020 opened in Davos, Switzerland on Monday, the International Monetary Fund said the economy faces “perhaps its biggest test since the Second
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By Paul R. La Monica, CNN Business Stablecoins are unstable. Cryptocurrencies don’t act like currency. Does digital money ever stand a chance of winning the establishment’s embrace? With the prices of cryptocurrencies like bitcoin and ethereum and so-called stablecoins like Luna and TerraUSD plunging in value and hurting many investors in the process, that seems
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By Catherine Thorbecke, CNN Business Facebook-parent Meta on Monday said it would soon offer more transparency and information to researchers about how political and social ads are targeted to users on the platform, months before the US midterm elections. Starting later this month, Meta will provide “detailed targeting information for social issue, electoral or political
Continue Reading Opinion by Lakshman Achuthan and Anirvan Banerji for CNN Business Perspectives The economy is close to entering a recession, perhaps as soon as this year. To avoid taking too much of a financial hit, Americans will need to prepare. Last summer, we wrote that US economic growth was already starting to slow and the economy
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By Brian Fung, CNN Business Washington, DC, Attorney General Karl Racine sued Mark Zuckerberg on Monday, accusing the Facebook co-founder of misleading the public on the company’s handling of privacy and personal data in connection with the Cambridge Analytica scandal. The suit, filed in DC superior court, represents Racine’s latest attempt to hold Zuckerberg personally
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By Paul R. La Monica, CNN Business Inflation concerns have made it a brutal year for stocks, but wireless service is one area where prices aren’t rising much — and the sector has been a bright spot on Wall Street. So far in 2022, shares of T-Mobile are up 10% and AT&T’s stock has gained
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By Nicole Goodkind, CNN Business What goes up must come down, and what goes bull must go bear. The conventional wisdom is that a bit of market madness is inevitable, cyclical and should give investors a potential buying opportunity. But unfortunately this downswing doesn’t appear to be the devil we know. Markets are contending with
Continue Reading By Nicole Goodkind, CNN Business What goes up must come down, and what goes bull must go bear. The conventional wisdom is that a bit of market madness is inevitable, cyclical and should give investors a potential buying opportunity. But unfortunately this downswing doesn’t appear to be the devil we know. Markets are contending with
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