By Laura He, CNN Business A Chinese developer of luxury apartments missed $315 million in payments to lenders on Monday, sparking fears that financial strains in the country’s outsized property sector are spreading beyond the troubled Evergrande conglomerate. Fantasia Holdings, a Shenzhen-based developer, missed repaying $206 million worth of bonds that matured Monday, the company
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By Laura He and Charles Riley, CNN Business Stocks in the United States and Europe steadied on Tuesday after Asian markets were rattled overnight by fears of a potential US default, trouble in China’s massive property market and rising oil prices. US stock futures advanced and European markets opened with small gains. Nasdaq futures were
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By Rishi Iyengar, CNN Business The former Facebook employee whose leaks triggered some of the most intense scrutiny in the company’s history revealed her identity Sunday night. Frances Haugen, a former Facebook product manager with stints at several other big tech companies, went public with an appearance on “60 Minutes.” Haugen is set to testify
Continue Reading By Rishi Iyengar, CNN Business The former Facebook employee whose leaks triggered some of the most intense scrutiny in the company’s history revealed her identity Sunday night. Frances Haugen, a former Facebook product manager with stints at several other big tech companies, went public with an appearance on “60 Minutes.” Haugen is set to testify
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By Donie O’Sullivan, Clare Duffy and Sarah Jorgensen, CNN Business “I have to be thin,” “Eternally starved,” “I want to be perfect.” These are the names of accounts Instagram’s algorithms promoted to an account registered as belonging to a 13-year-old girl who expressed interest in weight loss and dieting. Proof that Instagram is not only
Continue Reading By Samantha Murphy Kelly and Seth Fiegerman, CNN Business Frances Haugen, the Facebook whistleblower who released tens of thousands of pages of internal research and documents, said the social media company could “destroy” her for speaking out, but she believed that “as long as Facebook is operating in the dark, it is accountable to no
Continue Reading By Samantha Murphy Kelly and Seth Fiegerman, CNN Business Frances Haugen, the Facebook whistleblower who released tens of thousands of pages of internal research and documents, said the social media company could “destroy” her for speaking out, but she believed that “as long as Facebook is operating in the dark, it is accountable to no
Continue Reading By Donie O’Sullivan, Clare Duffy and Sarah Jorgensen, CNN Business “I have to be thin,” “Eternally starved,” “I want to be perfect.” These are the names of accounts Instagram’s algorithms promoted to an account registered as belonging to a 13-year-old girl who expressed interest in weight loss and dieting. Proof that Instagram is not only
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By Rishi Iyengar, CNN Business Facebook is continuing to battle US regulators that are calling for the company to be broken up, this time asking a court to dismiss an amended antitrust complaint against it filed by the Federal Trade Commission. In a filing Monday to the US District Court for the District of Columbia,
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By Jeanne Sahadi, CNN Business To say the pandemic has been transformative for business is an understatement. So perhaps it’s not surprising that three of the top 10 women named to Fortune’s 2021 Most Powerful Women list, released Monday, run companies in the health sector or that half of them became CEOs during the Covid
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By Clare Duffy and Sean Lyngaas, CNN Business Around six hours after Facebook, WhatsApp and Instagram went down, service started coming back online, though coverage was still spotty. Facebook, Instagram and WhatsApp all suffered outages midday Monday, according to public statements from the three Facebook services. Outage tracking site Down Detector logged tens of thousands of reports
Continue Reading By Rishi Iyengar, CNN Business Facebook is continuing to battle US regulators that are calling for the company to be broken up, this time asking a court to dismiss an amended antitrust complaint against it filed by the Federal Trade Commission. In a filing Monday to the US District Court for the District of Columbia,
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By Anneken Tappe, CNN Business Wall Street started the week with a selloff as investors grapple with a wide range of concerns. Stocks opened lower and started tumbling in earnest mid-morning, holding their losses for the rest of the trading session. The Dow closed some 320 points, or 0.9%, lower. At the low point of
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By Kerry Flynn and Brian Stelter, CNN Business Carlos Watson went on TV Monday morning to say that Ozy Media, the company he co-founded, would not shut down even though it announced Friday that it would. Anyone who wanted to find out how what Watson said could be true would run into a problem: Ozy’s
Continue Reading By Kerry Flynn and Brian Stelter, CNN Business Carlos Watson went on TV Monday morning to say that Ozy Media, the company he co-founded, would not shut down even though it announced Friday that it would. Anyone who wanted to find out how what Watson said could be true would run into a problem: Ozy’s
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By Chris Isidore, CNN Business Shares of the owner of the pipeline responsible for the oil spill off the coast of Southern California plunged Monday, as the money-losing company could be on the hook for big penalties. Amplify Energy, a small, independent oil company active in oil production and drilling in the area, said that
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By Ramishah Maruf, CNN Business The International Consortium of Investigative Journalists (ICIJ) on Sunday released the “Pandora Papers,” an exposé of the financial secrets and offshore dealings of dozens of heads of state, public officials and politicians from 91 countries and territories. More than 600 journalists from 150 outlets spent two years investigating nearly 12
Continue Reading By Ramishah Maruf, CNN Business The International Consortium of Investigative Journalists (ICIJ) on Sunday released the “Pandora Papers,” an exposé of the financial secrets and offshore dealings of dozens of heads of state, public officials and politicians from 91 countries and territories. More than 600 journalists from 150 outlets spent two years investigating nearly 12
Continue Reading Opinion by Dan Lambe at CNN Business Perspectives Extreme weather made headlines all summer. Hurricane Ida made landfall in the Gulf before causing additional massive flooding and devastation in the Northeast. Wildfire season in the West started earlier than usual, and sweltering heatwaves broke temperature records in some of our nation’s largest cities, like Seattle
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By Julia Horowitz, CNN Business Car sales at major automakers are plunging due to a shortage of computer chips that’s forced factory shutdowns and crimped supply. But that’s not fazing Wall Street, which remains laser-focused on investment in electric vehicles that could power future growth. What’s happening: General Motors, Chrysler-owner Stellantis and Honda all recently
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