By Krystal Hur, CNN Charlie Javice, founder of the buzzy student financial assistance startup Frank, was arrested Monday night and charged by the US Securities and Exchange Commission for allegedly defrauding JPMorgan Chase in the $175 million acquisition of her company. The SEC said in a complaint filed to a New York District Court that
Continue Reading By Clare Duffy, CNN Business A group of Twitter vendors on Tuesday filed a proposed class action lawsuit alleging that the company has failed to pay tens of thousands of dollars in overdue bills. The four firms — captioning services company White Coat Captioning, consulting group YES Consulting and public relations firms Cancomm and Dialogue
Continue Reading By Chris Isidore, CNN About 5,000 General Motors white collar employees have taken buyouts, according to GM CFO Paul Jacobson. Jacobson, speaking at an investor conference in New York on Tuesday, disclosed the number of employees who have taken package offered last month. He said that the company will take about a $1 billion charge
Continue Reading By Dayun Park Beep! The barcode, that rectangle of thick and thin parallel lines seen on seemingly every grocery product, package, prescription bottle and piece of luggage is turning 50 years old. Almost as old is the dispute over whose idea it actually was. Since its invention, the Universal Product Code has become the most
Continue Reading By Jordan Valinsky, CNN Elon Musk has officially been dethroned from the top of Forbes’ annual “World’s Billionaire’s List.” The Tesla and Twitter chief is now the second-richest billionaire, worth an estimated $180 billion, which is $39 billion less than the previous year. The top spot has been awarded to Bernard Arnault, the chairman of
Continue Reading By Jennifer Korn Anyone using their iPhone to check the weather on Tuesday may have had better luck just looking out the window. Apple’s default Weather app briefly went down for many users on Tuesday morning, showing blank screens with no data. The result: many users felt clueless about what was happening outside. “The Apple
Continue Reading By Jennifer Korn Anyone using their iPhone to check the weather on Tuesday may have had better luck just looking out the window. Apple’s default Weather app briefly went down for many users on Tuesday morning, showing blank screens with no data. The result: many users felt clueless about what was happening outside. “The Apple
Continue Reading By Alicia Wallace, CNN America isn’t taking down all of its “help wanted” signs just yet — but they are slowly starting to disappear. The number of available jobs in the United States dropped in February to 9.93 million, the lowest number since May 2021, according to data released Tuesday by the Bureau of Labor
Continue Reading By Alicia Wallace, CNN America isn’t taking down all of its “help wanted” signs just yet — but they are slowly starting to disappear. The number of available jobs in the United States dropped in February to 9.93 million, the lowest number since May 2021, according to data released Tuesday by the Bureau of Labor
Continue Reading By Robert North and Anna Cooban, CNN The UK data regulator has fined TikTok £12.7 million ($15.9 million) for a number of breaches of data protection law, including misusing children’s personal data. The Information Commissioner’s Office estimates that, in 2020, TikTok allowed more than 1 million UK children under 13 to use its platform in
Continue Reading By Jordan Valinsky, CNN Walmart is laying off more than 2,000 workers at five US warehouses that fulfill website orders, weeks after America’s largest private employer warned it’s in for a tough year ahead. The retail giant is cutting more than 1,000 jobs in Texas, 600 jobs in Pennsylvania, 400 in Florida and 200 in
Continue Reading By Julia Horowitz, CNN Few brands are big enough to sell three beers for nearly $100. Elon Musk’s Tesla may be one. The electric car company has launched a limited edition “GigaBier,” a pilsner-style brew made in Germany. Presented in a glossy black sleeve, the bottle is designed to emulate Tesla’s Cybertruck. The beer —
Continue Reading By Nicole Goodkind, CNN Some of the world’s largest oil exporters shocked markets over the weekend by announcing that they would cut oil production by more than 1.6 million barrels a day. OPEC+, an alliance between the Organization of the Petroleum Exporting Countries (OPEC) and a group of non-OPEC oil-producing countries, including Russia, Mexico, and
Continue Reading By Nicole Goodkind, CNN Some of the world’s largest oil exporters shocked markets over the weekend by announcing that they would cut oil production by more than 1.6 million barrels a day. OPEC+, an alliance between the Organization of the Petroleum Exporting Countries (OPEC) and a group of non-OPEC oil-producing countries, including Russia, Mexico, and
Continue Reading By Nicole Goodkind, CNN The banking crisis triggered by the recent collapses of Silicon Valley Bank and Signature Bank is not over yet and will ripple through the economy for years to come, said JPMorgan Chase CEO Jamie Dimon on Tuesday. In his closely watched annual letter to shareholders, the chief executive of America’s largest
Continue Reading By Nicole Goodkind, CNN The banking crisis triggered by the recent collapses of Silicon Valley Bank and Signature Bank is not over yet and will ripple through the economy for years to come, said JPMorgan Chase CEO Jamie Dimon on Tuesday. In his closely watched annual letter to shareholders, the chief executive of America’s largest
Continue Reading By Anna Cooban, CNN Virgin Orbit, the rocket company founded by British billionaire Richard Branson, has filed for bankruptcy in the United States. The California-based company said in a statement Monday that it had filed for Chapter 11 bankruptcy, meaning that it can continue doing business while it restructures its debts. “While we have taken
Continue Reading By Michelle Toh, CNN L’Oréal is buying Australian brand Aesop in a deal that values it at $2.5 billion, in the biggest brand acquisition ever made by the French beauty giant. The sale was announced Monday by Aesop’s parent, Brazilian firm Natura & Co, which also owns The Body Shop and Avon. It brings Aesop,
Continue Reading By Hanna Ziady, CNN Credit Suisse Chairman Axel Lehmann apologized to angry shareholders Tuesday after the ailing Swiss lender required an emergency rescue last month that left investors nursing heavy losses. “It is a sad day. For all of you, and for us,” Lehmann told 1,748 shareholders at an ice hockey stadium in Zurich at
Continue Reading By Chris Lau, CNN Australia has joined other Western countries in banning the use of TikTok on government devices as the Chinese-owned video app comes under increasing pressure over claims it presents a security concern. Attorney-General Mark Dreyfus announced the ban on Tuesday after receiving advice from intelligence and security agencies, saying the directive would
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