By Kara Fox, CNN Chinese officials are ordering coal plants to dramatically ramp up production. The European Union is facing a revolt over its ambitious Green Deal on climate. US President Joe Biden is petitioning OPEC nations to boost oil production. So much for the fight against the climate crisis — it’s the energy crisis
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By Jessie Yeung, Rhea Mogul and Swati Gupta, CNN As India’s brutal second coronavirus wave ravaged the country this spring, Ankit Srivastava went from hospital to hospital, trying to find help for his ailing mother. But hospitals in the Indian city of Varanasi had run out of space, oxygen, medicine, tests — everything. “They told
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By Rishi Iyengar, CNN Business Apple is asking a court to put on hold its injunction that would allow iPhone developers to direct users away from the company’s App Store for online payments. The company on Friday filed a motion with the US District Court for the Northern District of California asking it to stay
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By Rishi Iyengar, CNN Business Just days after several of its major services went down for about six hours, Facebook on Friday suffered another outage. “We’re aware that some people are having trouble accessing our apps and products,” the company said on its verified Twitter account on Friday. “We’re working to get things back to
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By Rishi Iyengar, CNN Business Facebook is cracking down on the ability of people to use its e-commerce platforms to sell large parcels of land in the protected Amazon rainforest. “Today, we are announcing measures to curb attempts to sell land in ecological conservation areas within the Amazon rainforest on Facebook Marketplace,” the company said
Continue Reading By Rishi Iyengar, CNN Business Just days after several of its major services went down for about six hours, Facebook on Friday suffered another outage. “We’re aware that some people are having trouble accessing our apps and products,” the company said on its verified Twitter account on Friday. “We’re working to get things back to
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By Frank Pallotta, CNN Business In the nearly six decades since 1962’s “Dr. No,” one thing has been a constant at the cinema: Bond, James Bond. The iconic super-spy returns for his latest adventure this weekend with “No Time to Die,” the franchise’s 25th film, which represents both a literal and figurative end of an
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By Hanna Ziady and Mark Thompson, CNN Business A group of 136 countries have agreed to a global treaty that would tax large multinationals at a minimum rate of 15% and require companies to pay taxes in the countries where they do business. Estonia, Hungary and — most notably — Ireland joined the agreement Thursday.
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Opinion by Jacob J. Lew for CNN Business Perspectives After weeks of partisan gridlock, Congress is on track to extend the debt ceiling, averting a potential default looming in less than two weeks. But the solution merely moves the new fiscal cliff to December, aligning the deadline with other imminent crises, like a potential government
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By Brian Stelter, CNN Business It all started with a LinkedIn message. Wall Street Journal reporter Jeff Horwitz first connected with Frances Haugen, now known as the Facebook whistleblower, late last year. He was trying to meet more sources at Facebook to learn about how the company managed content on its platforms around the 2020
Continue Reading By Brian Stelter, CNN Business It all started with a LinkedIn message. Wall Street Journal reporter Jeff Horwitz first connected with Frances Haugen, now known as the Facebook whistleblower, late last year. He was trying to meet more sources at Facebook to learn about how the company managed content on its platforms around the 2020
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By Kathryn Vasel, CNN Business Major life events — like a global pandemic — often lead people to take stock of their lives. And many workers are now taking a closer look at their jobs and realizing it’s not what they want to be doing anymore. In July, four million people quit their jobs, according
Continue Reading By Kathryn Vasel, CNN Business Major life events — like a global pandemic — often lead people to take stock of their lives. And many workers are now taking a closer look at their jobs and realizing it’s not what they want to be doing anymore. In July, four million people quit their jobs, according
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By Nathan Hodge, CNN Russian investigative newspaper Novaya Gazeta — whose editor-in-chief Dmitry Muratov won the Nobel Peace Prize on Friday — built its reputation as an outpost of the free press in part for its fearless reporting on the conflict in Chechnya, the former breakaway region in southern Russia. Muratov, who co-founded the paper
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By Paul R. La Monica, CNN Business America added far fewer jobs in September than expected, but investors didn’t seem too disappointed: Stocks were mostly unchanged Friday as Wall Street took solace that the unemployment rate continues to drop after the pandemic-fueled spike last year. The Dow finished the day down nearly 10 points, but
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By Rachel Metz, CNN Business For billions of people around the world, Facebook can be a source for cute baby pictures, vaccine misinformation and everything in between — and all of it surfaces in our feeds with the help of algorithms. Now, hours of testimony and thousands of pages of documents from Facebook whistleblower Frances
Continue Reading By Samantha Murphy Kelly, CNN Business A Facebook whistleblower has helped renew concerns that some parents have likely had for years: what impact social media is having on their kids. Frances Haugen, a 37-year-old former Facebook product manager, testified this week that the company’s algorithms can push young Instagram users toward harmful content, such as
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By Hanna Ziady, CNN Business The global economic recovery from the coronavirus pandemic is weakening and risks are rising, according to the International Monetary Fund. The IMF on Tuesday slashed its 2021 growth forecast for the United States by one full percentage point to 6%, the biggest reduction suffered by any G7 economy in its
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By Charles Riley, CNN Business The Senate voted along party lines to raise the debt ceiling on Thursday, authorizing $480 billion in borrowing that avoids a looming US government default but sets up another showdown in early December. Investors no doubt should be relieved. Alarm bells had been ringing on Wall Street for weeks, and
Continue Reading Opinion by Jacob J. Lew for CNN Business Perspectives After weeks of partisan gridlock, Congress is on track to extend the debt ceiling, averting a potential default looming in less than two weeks. But the solution merely moves the new fiscal cliff to December, aligning the deadline with other imminent crises, like a potential government
Continue Reading