By Nicole Goodkind, CNN Business It’s safe to say that the global economy is in a pretty bad place right now: The vast majority of economists think we’re on the brink of recession. But US markets don’t seem to mind. Stocks closed out their best week since mid-June last Friday and continued that rally into
Continue Reading By Hanna Ziady, CNN Business Some of the top names on Wall Street think a US recession is now likely, if not inevitable. But they have bigger worries on their minds. JPMorgan Chase CEO Jamie Dimon said Tuesday he is more concerned about global geopolitics than he is about slowing economic growth in the United
Continue Reading By Jordan Valinsky, CNN Business Adidas has ended its partnership with Ye, also known as Kanye West, with “immediate effect.” In a statement Tuesday, the sportswear maker said it “does not tolerate antisemitism and any other sort of hate speech” and said that his recent comments were “unacceptable, hateful and dangerous.” Adidas said they violated
Continue Reading By Michelle Toh, CNN Business WhatsApp suffered a serious outage on Tuesday, preventing users across the globe from sending or receiving messages on the platform. The world’s most popular messaging app started having problems around 3 a.m. ET. As of 4:50 a.m. the service was back for some users, but appeared to remain patchy elsewhere.
Continue Reading By Laura He, CNN Business China’s yuan tumbled on Tuesday to its lowest level in nearly 15 years on Tuesday as investors fled Chinese assets amid fears about Xi Jinping’s dramatic move to tighten his grip on power in a major reshuffle of Communist Party leaders On the tightly controlled domestic market, the yuan dropped
Continue Reading By Jon Sarlin, CNN Business “I can say antisemitic s*** and Adidas cannot drop me,” Kanye West said during his now infamous tirade against Jews during the Drink Champs Podcast earlier this month. With a social media uproar focused on Adidas brewing, Ye’s theory is now being tested. Here’s the deal: The list of brands
Continue Reading By Jon Sarlin, CNN Business “I can say antisemitic s*** and Adidas cannot drop me,” Kanye West said during his now infamous tirade against Jews during the Drink Champs Podcast earlier this month. With a social media uproar focused on Adidas brewing, Ye’s theory is now being tested. Here’s the deal: The list of brands
Continue Reading By Nathaniel Meyersohn, CNN Business Unilever has recalled certain Dove, Nexxus, Suave, TIGI and TRESemmé aerosol dry shampoos because of the potential presence of benzene, a chemical that can cause cancer. The affected products were produced prior to October 2021 and were distributed at retailers nationwide, the Food and Drug Administration said in an announcement
Continue Reading By Samantha Murphy Kelly, CNN Business YouTube is rolling out what it calls a “small makeover” with a handful of new features and design changes intended to make watching videos on the platform a better experience. In a blog post published Monday, the company said it’s adding new tools inspired by feedback from its YouTube
Continue Reading By Samantha Murphy Kelly, CNN Business YouTube is rolling out what it calls a “small makeover” with a handful of new features and design changes intended to make watching videos on the platform a better experience. In a blog post published Monday, the company said it’s adding new tools inspired by feedback from its YouTube
Continue Reading By Anna Bahney, CNN Business After more than doubling this year, mortgage rates are expected to retreat in 2023, according to an updated forecast from the Mortgage Bankers Association. MBA’s economists also said they expect the US to enter into a recession in the first part of next year that will be driven by tighter
Continue Reading By Brian Fung, CNN The Federal Trade Commission is seeking tough new restrictions against Drizly, the alcoholic beverage delivery platform, after what US regulators allege were repeated security failures that compromised the data of 2.5 million people. The proposed order against Drizly, if finalized, would force the company to beef up its cybersecurity and limit
Continue Reading By Brian Fung, CNN The Federal Trade Commission is seeking tough new restrictions against Drizly, the alcoholic beverage delivery platform, after what US regulators allege were repeated security failures that compromised the data of 2.5 million people. The proposed order against Drizly, if finalized, would force the company to beef up its cybersecurity and limit
Continue Reading By Catherine Thorbecke, CNN Business Apple on Monday raised the price of its music and video streaming services, in the latest example of streaming products getting more expensive in recent months. An Apple Music subscription for individuals will now cost $10.99 per month, up from $9.99, and a family plan supporting up to five people
Continue Reading By Frank Pallotta, CNN Business Sen. Ted Cruz’s “The View” interview was disrupted by protesters multiple times on Monday, including some demanding the Texas Republican talk about climate change. The protesters appeared to be shouting “Cover climate now!” as Cruz tried to answer a question from Sara Haines, one of the ABC talk show‘s co-hosts.
Continue Reading By Frank Pallotta, CNN Business Sen. Ted Cruz’s “The View” interview was disrupted by protesters multiple times on Monday, including some demanding the Texas Republican talk about climate change. The protesters appeared to be shouting “Cover climate now!” as Cruz tried to answer a question from Sara Haines, one of the ABC talk show‘s co-hosts.
Continue Reading By Sophia Saifi, Bethlehem Feleke and Irene Nasser, CNN Arshad Sharif, a prominent Pakistani journalist who fled the country after he was charged with sedition, has died in Kenya after he was shot by police responding to reports of a stolen vehicle, authorities said. “The officers trailing the motor vehicle … alerted police in Magadi
Continue Reading By Brian Fung, CNN A landmark law requiring Apple and other electronics makers to adopt USB-C as a universal charging standard in the European Union has cleared its final procedural hurdle, after EU member states voted to approve the legislation on Monday. The new law, which is targeted at smartphones, tablets, digital cameras, portable speakers
Continue Reading By Paul R. La Monica, CNN Business October may be famous for historically horrifying stock market crashes like the ones in 1929, 1987 and 2008. But so far this month, there’s nothing for investors to be scared of on Wall Street. Stocks enjoyed another solid rally Monday, continuing a hot streak for the markets this
Continue Reading By Matt Egan, CNN Business Goldman Sachs is urging the Federal Reserve to be patient in its quest to squash inflation. Even though inflation remains far too high, the investment bank says the Fed has already made “remarkable” progress in slowing the US economy and easing the concerning imbalance between supply and demand in the
Continue Reading