By Frank Pallotta, CNN Business Netflix has accomplished a lot in Hollywood: It’s partnered with notable filmmakers, produced buzzy hit films and launched the streaming craze that revolutionized the industry. Yet there’s one coveted Tinseltown accolade Netflix hasn’t received: the Academy Award for best picture. That could change this weekend. Netflix’s film “The Power of
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By Rishi Iyengar, CNN Business On March 14, the same day Russia banned Instagram, Russian tech entrepreneur Alexander Zobov announced he would soon launch a local version of the popular photo and video sharing app called Rossgram. Zobov and his team “were already prepared for this outcome of events in advance and decided not to
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By Clare Duffy, CNN Business TikTok has been hit with another lawsuit from former content moderators who claim the job traumatized them. Ashley Velez and Reece Young, former contract content moderators for TikTok, allege that their work involved reviewing “unfiltered, disgusting and offensive content,” including “child sexual abuse, rape, torture, bestiality, beheadings, suicide, and murder,”
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By Oliver Darcy, CNN Business A judge in Washington D.C. on Thursday dismissed a high-profile case filed by a Washington Post politics reporter who alleged that the newspaper and its former top editor subjected her to unlawful discrimination after she publicly said that she had been the victim of sexual assault. The reporter, Felicia Sonmez,
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By Matt Egan, CNN Business Inflation is so hot that Wall Street banks are falling over each other to predict the dramatic moves the Federal Reserve will have to make to cool prices off. Goldman Sachs raised eyebrows earlier this week by forecasting the Fed will raise interest rates by a half a percentage point
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By Sara Ashley O’Brien, CNN Business Instacart’s valuation doubled twice to $39 billion in the first year of the public health crisis, fueled by a pandemic boon to its on-demand grocery delivery business. Now it’s falling back to earth. On Thursday, the decade-old, privately-held startup informed its 3,000 corporate employees that it is revising its
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By Brian Fung, CNN European officials have reached agreement on a sweeping set of competition rules for Big Tech that could mark a global turning point for technology regulation. The proposed framework, known as the Digital Markets Act, could label large companies such as Facebook-parent Meta or Google as “gatekeepers,” and subject them to new
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By Brian Fung, CNN The White House has hammered out a new agreement with the EU that could again allow businesses to transfer data and personal information across the Atlantic, a highly-anticipated move that could provide assurance to thousands of companies after Europe’s top court struck down the deal’s predecessor in 2020. In joint remarks
Continue Reading By Brian Fung, CNN The White House has hammered out a new agreement with the EU that could again allow businesses to transfer data and personal information across the Atlantic, a highly-anticipated move that could provide assurance to thousands of companies after Europe’s top court struck down the deal’s predecessor in 2020. In joint remarks
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By Alicia Wallace, CNN Business Consumer sentiment slumped again in March, hitting its lowest level since August 2011, the University of Michigan reported Friday. High inflation, volatile oil prices, geopolitical unrest and now rising interest rates, have left consumers with a bitter taste about the state of the US economy. The March index was revised
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By Matt Egan, CNN Business The House Oversight Committee launched a probe Monday into Credit Suisse, demanding documents linked to the bank’s compliance with sanctions on Russian oligarchs. In a letter to Credit Suisse CEO Thomas Gottstein, US lawmakers asked the bank to turn over information and documents about a portfolio of loans backed by
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By Abbas Al Lawati, CNN “It’s always nice to be wanted,” Qatar’s energy minister Saad Sherida al-Kaabi said in jest during an exclusive interview with CNN’s Becky Anderson on Thursday. “Everyone in Europe is talking to us,” he said. Qatar, one of the world’s top suppliers of liquefied natural gas (LNG), has been thrust into
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By Sara Ashley O’Brien, CNN Business After going 27 years without a US union, Amazon now faces a test from elections at not one but two of its warehouses. A union reelection at the company’s Bessemer, Alabama, facility concluded Friday after a nearly two-month voting period by mail. Beginning that same day, thousands of workers
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By Frank Pallotta, CNN Business DC is taking a page from Marvel’s playbook comic book. Warner Bros. on Thursday released a deleted scene from “The Batman” showing more of the Caped Crusader’s greatest nemesis, The Joker. The scene is from the latest film based on the superhero, which hit theaters earlier this month. The five-minute-long
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By Charles Riley, CNN Business North Atlantic shipping lanes are going to be very busy this year as an armada of US natural gas shipments heads to Europe, helping the continent to reduce its reliance on Russian energy following the invasion of Ukraine. The Biden administration said Friday that the United States will work with
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By Rachel Metz, CNN Business In the third week of Russia’s war in Ukraine, Volodymyr Zelensky appeared in a video, dressed in a dark green shirt, speaking slowly and deliberately while standing behind a white presidential podium featuring his country’s coat of arms. Except for his head, the Ukrainian president’s body barely moved as he
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By Matt Egan, CNN Business The war in Ukraine. Red-hot inflation. And rapid interest rate hikes. The economic recovery that began two years ago faces credible threats that could lead to its premature demise. The US economy has at least a one-in-three chance of sinking into a recession over the next 12 months, Moody’s Analytics
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By Angela Dewan, International Climate Editor, CNN Nine European and US fossil fuel companies have paid a collective $15.8 billion to Russia in various forms of taxes and fees since the country annexed Crimea from Ukraine in 2014, a group of NGOs said Thursday. The groups, Global Witness, Greenpeace USA and Oil Change International, used
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By Laura He, CNN Business China Eastern Airlines is grounding dozens of aircraft after a deadly crash earlier this week. The airline and its subsidiaries have temporarily grounded 223 Boeing 737-800 aircraft, airline spokesperson Liu Xiaodong said in a press conference on Thursday. The same type of plane was involved in the crash. The grounded
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By Bob Ortega, Al Goodman, Casey Tolan, Curt Devine and Jeff Winter, CNN For 10 years, Taras Ostapchuk worked at what many might consider a dream job, as the chief engineer for the Lady Anastasia, a luxurious 156-foot yacht that cruised mostly from one upscale port to another across the sparkling Mediterranean Sea. But on
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