By Allison Morrow, CNN Business Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Today in business news: ICYMI Richard Branson went to space; many homebuyers are dropping out of the market; and US stocks hit new all-time highs. Let’s
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By Paul R. La Monica, CNN Business So much for Wall Street’s bulls selling in May and going away on summer vacation. The Dow hit a new all-time high Monday, led by gains in Disney and big banks Goldman Sachs and JPMorgan Chase. The Dow ended the day up about 126 points, or 0.4%, closing
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By Clare Duffy, CNN Business Microsoft on Monday announced that it’s buying cybersecurity firm RiskIQ to help companies better protect themselves as ransomware and other cyber attacks become increasingly disruptive. Microsoft said the acquisition will help its customers address the unique risks created by remote work and relying on cloud computing amid “the increasing sophistication
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By Paul R. La Monica, CNN Business Warren Buffett may be one of the richest people on the planet, but even the Oracle of Omaha has to recognize the power of the United States government. Buffett’s Berkshire Hathaway announced Monday it was scrapping plans to buy a big natural gas pipeline for more than $1.7
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By Hanna Ziady, CNN Business The aristocratic family behind the Daily Mail is considering taking the tabloid newspaper off the London Stock Exchange, further concentrating UK media ownership in the hands of a few rich men. Daily Mail and General Trust (DMGT) — which owns the Daily Mail, Mail Online, Mail on Sunday and Metro
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Brian Stelter says the billionaire space race between Richard Branson, Jeff Bezos and Elon Musk showcases the need to cover power and influence with scrutiny. Teddy Schleifer says the “billionaires beat” is not “a luxury beat about the rich and famous doing crazy stuff… These are people with enormous influence in society. It’s a beat about power, about inequality, about democracy.” Nicholas Schmidle also joins the conversation.
Continue Reading By Julia Horowitz, CNN Business Billionaire Richard Branson’s successful trip to space has bolstered enthusiasm among investors who see an industry primed for takeoff. What’s happening: The Virgin Galactic founder’s flight over the weekend aboard a spacecraft he helped fund was a landmark moment for the commercial space industry. The up-and-coming sector has for years
Continue Reading Richard Branson became the first person to ride into space aboard a rocket he helped fund. The supersonic space plane developed by his company, Virgin Galactic, roared into the sky over New Mexico, carrying Branson and three fellow crewmembers.
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By Paul R. La Monica, CNN Business A parade of high-profile companies, including Coinbase, Bumble, Oatly, SoFi and Roblox, made their stock market debuts in the first half of 2021. The second half of the year could bring even more buzzy unicorns to Wall Street. Online broker Robinhood and yogurt maker Chobani both filed for
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CNN Business breaks down the price hikes customers are seeing at the grocery store, the gas tank, the car lot, and more.
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CNN’s Rachel Crane speaks with Virgin Galactic founder Richard Branson after his historic trip to space.
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By Diksha Madhok, CNN Business Indians on Twitter — from top politicians to business executives — are celebrating one of the women who flew to the edge of space along with Richard Branson. Sirisha Bandla, who is the vice president of government affairs and research operations at Virgin Galactic, roared into the sky over New
Continue Reading Didi shares plunged as much as 22% in premarket trading as fallout continued over news of the company’s troubles in China. CNN’s David Culver reports.
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By Laura He, CNN Business China’s crackdown on Big Tech just keeps growing. The Cyberspace Administration of China (CAC) — the country’s powerful internet watchdog — this weekend proposed that any company with data on more than one million users must seek the agency’s approval before listing its shares overseas. It also proposed companies must
Continue Reading By Brian Stelter and Oliver Darcy, CNN Business Tucker Carlson is furious with Fox News executives for not vigorously defending him amid his evidence-free claims that the National Security Agency spied on him in a conspiracy to destroy his TV show, according to people familiar with the matter. One of the sources described Carlson as
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Richard Branson became the first person to ride into space aboard a rocket he helped fund. The supersonic space plane developed by his company, Virgin Galactic, roared into the sky over New Mexico, carrying Branson and three fellow crewmembers.
Continue Reading Watch video from Virgin Galactic showing Richard Branson’s space plane’s engine ignite sending the billionaire into outer space. CNN’s Kristin Fisher describes the moment from the ground.
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By Alexis Benveniste, CNN Business Richard Branson became the first billionaire to reach suborbital flight in his own rocket-powered plane Sunday, setting the stage for how the media will cover wealthy individuals looking to build a business in space travel. Branson’s flight is a landmark moment for the commercial space industry and journalism. “This is
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By Chauncey Alcorn, CNN Business As business dried up during Covid-19 lockdowns last year, many restaurants fell behind on rent and had to lay off employees. That was especially true for Black-owned restaurants, which struggled to gain access to emergency capital early on. But restaurateurs who can no longer afford a traditional brick-and-mortar operation have
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Watch video from Virgin Galactic showing Richard Branson’s space plane’s engine ignite sending the billionaire into outer space. CNN’s Kristin Fisher describes the moment from the ground.
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