By Michelle Toh, CNN Business Elon Musk is applauding China on a momentous day for the country’s ruling political party. The Tesla and SpaceX CEO lavished praise on the country as it marked a special occasion Thursday: the 100th anniversary of the founding of the Chinese Communist Party. In a Twitter post, Musk wrote that
Continue Reading By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “Thank God for a free press — which is doing the investigating and reporting that Congress should have done way before now,” Asha Rangappa wrote Wednesday. She was talking about
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By Michelle Toh, CNN Business Didi went public Wednesday in the biggest US share offering by a Chinese company since Alibaba debuted in 2014. Stock in China’s biggest ride-hailing service finished its first day of trading in New York at $14.14, 1% above its initial public offering price of $14 a share. The stock had
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By Oliver Darcy, CNN Business Former Fox News host Ed Henry, who was fired in 2020 over a sexual misconduct allegation, filed a defamation lawsuit on Wednesday against the right-wing news network and chief executive Suzanne Scott. The lawsuit accused Scott of having “publicly smeared” Henry as a “sex criminal” when she released a statement
Continue Reading By Oliver Darcy, CNN Business Former Fox News host Ed Henry, who was fired in 2020 over a sexual misconduct allegation, filed a defamation lawsuit on Wednesday against the right-wing news network and chief executive Suzanne Scott. The lawsuit accused Scott of having “publicly smeared” Henry as a “sex criminal” when she released a statement
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By Allison Morrow 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. TSK TSK A Wall Street regulator ordered Robinhood to pay about $70 million for “systemic supervisory failures” and hurting investors by giving them “false or misleading information.” That’s
Continue Reading By Allison Morrow 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. TSK TSK A Wall Street regulator ordered Robinhood to pay about $70 million for “systemic supervisory failures” and hurting investors by giving them “false or misleading information.” That’s
Continue Reading By Matt Egan, CNN Business American drivers need OPEC and Russia to come to the rescue. Gasoline prices, averaging $3.12 a gallon in the United States according to AAA, are at seven-year highs just as millions of people hit the road for the July 4th holiday weekend. Some gas stations are even running out of
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By Matt Egan, CNN Business Some companies can’t wait to get to get their employees back to the office full-time. Synchrony Financial is not one of them. Synchrony, America’s largest store credit card company, is not allowing employees to return to the office five days a week even as the pandemic winds down. Almost everyone,
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By Jackie Wattles, CNN Business A SpaceX Falcon 9 rocket carried 88 satellites into orbit in one fell swoop on Wednesday, marking the company’s second dedicated rideshare mission. The rocket took off from Florida’s Cape Canaveral Space Force Station at 3:31 pm ET and flew southward along the east coast as it hurtled toward space.
Continue Reading By Jackie Wattles, CNN Business A SpaceX Falcon 9 rocket carried 88 satellites into orbit in one fell swoop on Wednesday, marking the company’s second dedicated rideshare mission. The rocket took off from Florida’s Cape Canaveral Space Force Station at 3:31 pm ET and flew southward along the east coast as it hurtled toward space.
Continue Reading By Alicia Wallace, CNN Business It’s just about closing time on Thursday in early June and the regulars are catching up and winding down after a busy night of darts league. They shoot the breeze, fling back a couple of shots, and spout off lyrics (“get on your bikes and ride!”) to accompany the tunes
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By Brian Fung, CNN Business Amazon has formally requested that newly appointed Federal Trade Commission chair Lina Khan be recused from all Amazon-related antitrust cases before the agency. The e-commerce giant filed a petition to the FTC on Wednesday suggesting that Khan — an outspoken tech critic who has played a key role in driving
Continue Reading By Brian Fung, CNN Business Amazon has formally requested that newly appointed Federal Trade Commission chair Lina Khan be recused from all Amazon-related antitrust cases before the agency. The e-commerce giant filed a petition to the FTC on Wednesday suggesting that Khan — an outspoken tech critic who has played a key role in driving
Continue Reading By Matt Egan, CNN Business Democrats are once again taking aim at dreaded bank overdraft fees. New York Congresswoman Carolyn Maloney reintroduced legislation on Wednesday that would crack down on overdraft fees, making it illegal for banks to charge more than one fee per month. The bill, which is very similar to legislation Maloney sponsored
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By Jackie Wattles, CNN Business A 70-foot rocket blasted off from beneath the wing of a Boeing 747 over the Pacific Ocean Wednesday, marking the second successful orbital flight for rocket startup Virgin Orbit. The plane, nicknamed Cosmic Girl, took off from California Wednesday just before 7 am PT, and about an hour later, the
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By Rachel Metz, CNN Business As George Floyd’s death sparked protests in cities across the country, six federal agencies turned to facial-recognition software in an effort to identify people in images of the civil unrest, according to a new report from a government agency. The agencies used facial recognition software from May to August of
Continue Reading By Rachel Metz, CNN Business As George Floyd’s death sparked protests in cities across the country, six federal agencies turned to facial-recognition software in an effort to identify people in images of the civil unrest, according to a new report from a government agency. The agencies used facial recognition software from May to August of
Continue Reading By Jackie Wattles, CNN Business A 70-foot rocket blasted off from beneath the wing of a Boeing 747 over the Pacific Ocean Wednesday, marking the second successful orbital flight for rocket startup Virgin Orbit. The plane, nicknamed Cosmic Girl, took off from California Wednesday just before 7 am PT, and about an hour later, the
Continue Reading By Chris Isidore, CNN Business Consumer Reports and the Insurance Institute for Highway Safety have once again given their thumbs up to the Tesla Model 3 after it passed a test of its new automatic braking system. As of May 1, Tesla switched from a radar-based system to a camera-based system it dubbed Tesla Vision
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