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Peloton is replacing CEO John Foley and cutting about 20% of its workforce. Foley here speaks with Vanity Fair correspondent Jane Fox on October 23

Peloton is replacing its CEO and cutting 2,800 jobs

By Jordan Valinsky, CNN Business Peloton is replacing embattled CEO John Foley and cutting about 20% of its workforce to help reinvigorate the flailing fitness company. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become its CEO and president, effective Wednesday. Foley will become the company’s executive chair, and wrote in

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Police posted photos of a man they were looking to identify to social media following a deadly shooting at a Fred Meyer store in Richland

Suspect in a deadly shooting inside a Washington state grocery store has been arrested, police say

By Chris Boyette and Kelly McCleary, CNN The suspect in Monday’s deadly shooting inside a grocery store in Washington state has been arrested, police said late Monday. Aaron Christopher Kelly, 39, was taken into custody without incident, the Richland Police Department said. Police earlier described Kelly as “armed and dangerous” and identified him as the

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Nvidia

The biggest chip deal in history has fallen apart

By Michelle Toh, CNN Business SoftBank’s record-breaking sale of a prized chip designer to Nvidia has officially been called off. At an initial value of $40 billion, the US chipmaker’s acquisition of British design firm ARM would have been the largest semiconductor deal on record. But regulators around the world have long raised concerns about

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Nvidia

The biggest chip deal in history has fallen apart

By Michelle Toh, CNN Business SoftBank’s record-breaking sale of a prized chip designer to Nvidia has officially been called off. At an initial value of $40 billion, the US chipmaker’s acquisition of British design firm ARM would have been the largest semiconductor deal on record. But regulators around the world have long raised concerns about

Continue Reading