By Brian Fung, CNN Dell plans to lay off roughly 5% of its workforce, the company said in a regulatory filing Monday, in the latest example of tech companies cutting costs in an uncertain economic climate. Dell has about 133,000 employees, the company told CNN. At that level, the 5% cut would represent more than
Continue Reading By Nicole Goodkind, CNN Business Investors who believe the bear market is over are “ignorant,” Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, told CNN. It’s not that investors don’t have some cause for optimism: markets are soaring, corporate earnings are beating expectations, employment is strong and the Federal Reserve is easing its
Continue Reading By Michelle Toh, CNN An episode of “The Simpsons” that includes a line about “forced labor camps” in mainland China has been pulled from Disney’s streaming platform in Hong Kong. A scene in the second episode of its latest season depicts the show’s matriarch, Marge Simpson, cycling on an indoor spin bike with an on-screen
Continue Reading By Diksha Madhok, CNN Indian billionaire Gautam Adani is repaying some debt early as he scrambles to end a rout in shares of his embattled conglomerate that entered a third week on Monday. In a statement on Monday, the Adani Group said its promoters, or controlling shareholders, will be paying back loans worth $1.11 billion
Continue Reading By Jeanne Sahadi, CNN If you think news that inflation is easing means you’re not going to get hit with any more higher prices, think again. At least, that is, if you’re paying for car insurance. There’s a very good chance your premiums this year will go up … by a lot. The average cost
Continue Reading By Jeanne Sahadi, CNN If you think news that inflation is easing means you’re not going to get hit with any more higher prices, think again. At least, that is, if you’re paying for car insurance. There’s a very good chance your premiums this year will go up … by a lot. The average cost
Continue Reading By Michelle Toh, CNN Apple supplier Foxconn says its January monthly sales hit a record high as it bounced back from Covid-19 disruptions in China. In a sales update on Sunday, the Taiwanese manufacturing giant reported revenue of 660.4 billion Taiwan dollars ($22 billion) in January, 48% more than the same period a year ago
Continue Reading By Hilary Whiteman, CNN The world is producing a record amount of single-use plastic waste, mostly made from polymers created from fossil fuels, despite global efforts to reduce plastic pollution and carbon emissions, according to a new report released Monday. The second Plastic Waste Makers Index, compiled by the philanthropic Minderoo Foundation, found the world
Continue Reading By Lucy Bayly, CNN First-time applications for unemployment benefits rose last week to 196,000, a slightly higher total than the 190,000 that economists were expecting — but still a historically low number. Despite widely publicized layoffs from tech giants, media companies and the financial sector in recent weeks, the US labor market remains robust after
Continue Reading By Ramishah Maruf, CNN After a shocking jobs report, Larry Summers, treasury secretary under Bill Clinton, said he is more encouraged the Fed can pull off a soft landing, but cautioned it is a “big mistake” to think the economy is “out of the woods” on Fareed Zakaria GPS Sunday. Friday’s job’s report saw an
Continue Reading By Ramishah Maruf, CNN After a shocking jobs report, Larry Summers, treasury secretary under Bill Clinton, said he is more encouraged the Fed can pull off a soft landing, but cautioned it is a “big mistake” to think the economy is “out of the woods” on Fareed Zakaria GPS Sunday. Friday’s job’s report saw an
Continue Reading By Paul R. La Monica, CNN Meme stock mania was supposed to be over, right? Guess what: It’s not. Sure, the entire market did well in January. But many of the Reddit/WallStreetBets darlings of two years ago were particularly strong performers. Shares of movie theater chain AMC have soared nearly 65% so far in 2023,
Continue Reading By Zoe Sottile, CNN Love is in the air — and it smells like Cracker Barrel. The restaurant chain has announced a romantic new venture for Valentine’s Day. Five lucky couples will have the chance to win free Cracker Barrel for a year, according to its website. Here’s the catch: To have a shot at
Continue Reading By Pete Muntean, CNN A FedEx cargo plane trying to land at an Austin, Texas, airport had to change course Saturday to avoid a potential collision with a Southwest Airlines jet that was taking off from the same runway, officials said. The National Transportation Safety Board said it’s investigating “a possible runway incursion and overflight”
Continue Reading By Pete Muntean, CNN A FedEx cargo plane trying to land at an Austin, Texas, airport had to change course Saturday to avoid a potential collision with a Southwest Airlines jet that was taking off from the same runway, officials said. The National Transportation Safety Board said it’s investigating “a possible runway incursion and overflight”
Continue Reading By Chris Isidore, CNN Ford showed this week that it’s not going to be as easy for traditional automakers to catch Tesla in the race to build the better electric vehicle, despite what Tesla’s doubters think. Ford CEO Jim Farley was rather blunt about the problems that Ford experienced as it rolled out its hot
Continue Reading By Allison Morrow, CNN Super Bowl LVI was the crypto world’s coming out party. Buzzy firms made bold pitches last year, and shelled out millions of dollars on ads encouraging viewers not to be afraid of this new-fangled digital investment — and for God’s sake don’t miss out on this exciting opportunity! You can expect a
Continue Reading By Julia Horowitz, CNN Less than two weeks ago, Gautam Adani was the fourth-richest person in the world. With a personal fortune estimated at $120 billion, the self-made Indian industrialist was wealthier than either Bill Gates or Warren Buffett. Then Hindenburg Research, an American short seller with bets against Adani’s companies, accused him of pulling
Continue Reading By Chris Isidore and Vanessa Yurkevich, CNN Unionized workers at Disney World have rejected a contract proposal from the company that would have given them at least a $1 an hour raise each year over the five-year life of the rejected offer. The 32,000 Disney employees, members of six different unions, had been urged by
Continue Reading By Peter Valdes-Dapena, CNN Business Is the Ford Mustang Mach-E an SUV? How about the Tesla Model Y? Depending on which branch of the US government you ask, the answer could be “Yes,” “No,” or “It depends.” With new rules now in effect for electric vehicle tax credits, that answer could mean thousands of dollars
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