By Frank Pallotta, CNN Business Taylor Swift fans entered a state of grace on Friday thanks to the artist re-releasing one of her most beloved albums, 2012’s “Red.” Why would one of the biggest names in music — who is already fairly busy releasing multiple albums over the last year and a half — re-record
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By Paul R. La Monica, CNN Business Breaking up is the newest craze for ginormous global companies. Johnson & Johnson, Toshiba and GE announced plans to split into multiple entities this week. The trend may have only just begun. Conglomerates are big and unwieldy. Wall Street hates them, because it doesn’t know how to value
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By Julia Horowitz, CNN Business News that prices for American consumers are rising at the fastest rate in three decades has spooked investors and economists, piling pressure on President Joe Biden and the Federal Reserve to respond more aggressively. What’s happening: Biden and his team are now steeling themselves for high inflation to persist into
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By Chris Isidore, CNN Business Elon Musk sold another block of Tesla shares Thursday. In two additional filings, Musk disclosed early Friday that he had sold another $687.3 million worth of the stock Thursday. That brings his sales of stock for this week to 5.2 million shares for a total of $5.8 billion. Last weekend,
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By Jordan Valinsky, CNN Business Johnson & Johnson, the world’s largest health products company, is splitting up. The company, which traces its roots back to 1886, will break into two: One company will focus on consumer health products customers can buy over the counter, including Benadryl, Band-Aids and Tylenol. The other business will sell prescription
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By Walé Azeez, CNN Business AstraZeneca has booked its first profit from sales of its Covid-19 vaccine. The company sold $2.2 billion worth of the shot in the first nine months of the year. In the quarter ending September 30, the vaccine’s sales totaled $1.05 billion, contributing one cent to earnings per share. Announcing its
Continue Reading By Walé Azeez, CNN Business AstraZeneca has booked its first profit from sales of its Covid-19 vaccine. The company sold $2.2 billion worth of the shot in the first nine months of the year. In the quarter ending September 30, the vaccine’s sales totaled $1.05 billion, contributing one cent to earnings per share. Announcing its
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By Helen Regan and Cape Diamond, CNN Business A military court in Myanmar has sentenced American journalist Danny Fenster to 11 years in prison, his lawyer said on Friday. Fenster, a 37-year-old from Detroit, Michigan, has been detained in Myanmar for more than five months. He has been denied bail and held in Insein Prison,
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By Jordan Valinsky, CNN Business Starbucks lovers can now order Taylor Swift’s favorite drink by saying two simple words. Customers who ask for “Taylor’s Latte” or “Taylor’s Version” will receive the singer’s favorite drink: a grande caramel nonfat latte. This latest collaboration between a fast food chain and a celebrity is being launched to celebrate
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By Diksha Madhok, CNN Business India’s latest billionaire is a 58-year-old former investment banker whose beauty startup made its blockbuster debut on the stock market this month. Shares in FSN E-Commerce Ventures — the owner of cosmetics e-commerce site Nykaa — have surged since they began trading in Mumbai this week. The stock has more
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By Michelle Toh, CNN Business China’s leading chipmaker is going through another massive leadership shake-up. Semiconductor Manufacturing International Corporation (SMIC) announced a wave of resignations in stock exchange filings Thursday evening. As many as four directors stepped down effective immediately, including Vice Chairman Chiang Shang-yi, who had joined the company just barely a year ago
Continue Reading By Helen Regan and Cape Diamond, CNN Business A military court in Myanmar has sentenced American journalist Danny Fenster to 11 years in prison, his lawyer said on Friday. Fenster, a 37-year-old from Detroit, Michigan, has been detained in Myanmar for more than five months. He has been denied bail and held in Insein Prison,
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By Peter Valdes-Dapena, CNN Business Another one of the auto industry’s greatest hits is coming back. Toyota brought back the Supra; Ford brought back the Bronco; Jeep dusted off the Wagoneer model; and Land Rover resurrected the Defender. Now you can add the Acura Integra to the mix, too. Acura unveiled a prototype version of
Continue Reading By Peter Valdes-Dapena, CNN Business Another one of the auto industry’s greatest hits is coming back. Toyota brought back the Supra; Ford brought back the Bronco; Jeep dusted off the Wagoneer model; and Land Rover resurrected the Defender. Now you can add the Acura Integra to the mix, too. Acura unveiled a prototype version of
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By Jackie Wattles, CNN Business A SpaceX Crew Dragon capsule carrying four astronauts approached the International Space Station, which orbits more than 200 miles above Earth, and made a gentle in-orbit meet-up, kicking off the astronauts’ six-month stay at the space station. This mission, called Crew-3, is the fourth mission in a partnership between SpaceX
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Opinion by Anthony Noto for CNN Business Perspectives There’s something not many people know about me: Financial stress was a very real, and very prominent, part of my life at one point. In fact, it came into my life before I landed a job, joined the military or had any sort of paycheck. I was
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By Danielle Wiener-Bronner, CNN Business If you’ve ever wanted to buy chicken wings from DJ Khaled, you are in luck. The musical artist, whose other business ventures have ranged from a Weight Watchers deal to an attempt to peddle gold furniture, is launching a virtual chicken wing brand called Another Wing in partnership with ghost
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By Anna Bahney, CNN Business Rents in Manhattan rose at the highest rate in more than a decade in October, with increases especially impacting the upper end of the market. Over the past 18 months, as the pandemic wreaked havoc on the Manhattan rental market, landlords offered steep discounts on properties. Taking those cuts into
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By Frank Pallotta, CNN Business It sounds crazy to say this, but Disney could really use a hit right now. Disney reported Wednesday that its streaming growth slowed dramatically last quarter, sending shares of the company down as much as 8.5% on Thursday morning. No surprise there: Disney’s media empire may stretch to parks, cable
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By Nathaniel Meyersohn, CNN Business For years, stores’ cheaper, in-house labels chipped away at the dominance of classic food and household staple brands. Not anymore. Legacy brands have reversed their slide in 2021. Shoppers have returned to the most recognizable names on the shelves such as Pampers diapers and wipes, Simply orange juice, Starbucks coffee,
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