By Matt Egan, CNN Business Sticker shock is causing anxiety for millions of Americans right now, with prices soaring for gasoline, groceries and used cars. Unfortunately, it’s going to take longer than expected to work out the supply-demand imbalances at the heart of inflation, Goldman Sachs warned clients Sunday night. “The inflation overshoot will likely
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By Danielle Wiener-Bronner, CNN Business DoorDash customers can now get national shipping from Carbone, Katz’s Deli and other restaurants across the country. Here’s how it works: DoorDash and Caviar users will see a “Nationwide Shipping” carousel in their apps. Once they click through, they can select what they want from participating restaurants. They can then
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By Rachel Metz, CNN Business Facebook said Tuesday it plans to stop using facial-recognition software that could automatically recognize people in photos and videos posted on the social network, marking a massive shift both for the tech industry and for a company known for collecting vast amounts of data about its billions of users. Facebook,
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By Chris Isidore and Jill Disis, CNN Business Elon Musk sold roughly $5 billion worth of Tesla shares this week — his first such sale since 2016 — just days after conducting a Twitter poll asking his fans if he should dispose of 10% of his stake in the electric carmaker. According to filings with
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By Anna Bahney, CNN Business Cosmos and Charisma Onyeyiri weren’t looking to sell their home. But skyrocketing home prices in Austin this summer had them curious: What would the home they bought for $360,000 two years ago sell for now? “We just had a baby. It was going to take a lot to get us
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By Jordan Valinsky, CNN Business Live Nation Entertainment, the concert promoter that organized the tragic Astroworld Festival, has been cited about a dozen times for numerous safety issues, records show. Records on the Occupational Safety and Health Administration website shows that Live Nation has been fined or sued on a variety of issues over the
Continue Reading By Jordan Valinsky, CNN Business Live Nation Entertainment, the concert promoter that organized the tragic Astroworld Festival, has been cited about a dozen times for numerous safety issues, records show. Records on the Occupational Safety and Health Administration website shows that Live Nation has been fined or sued on a variety of issues over the
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Opinion by Sonja Opper for CNN Business Perspectives Over the last 12 months, China’s government has engaged in an unprecedented regulatory crackdown on the country’s technology sector. Alibaba was hit with a multibillion-dollar antitrust fine; new regulatory rules were crafted that target the emergent online education sector; and the ride-hailing service Didi Chuxing saw its
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By Julia Horowitz, CNN Business The United States has officially flung open its doors to vaccinated international travelers. For companies in the industry, that’s reason to cheer. What’s happening: Stocks in airlines have rallied this month in anticipation of the easing of restrictions, which investors hope will trigger a surge in bookings from people who
Continue Reading By Julia Horowitz, CNN Business The United States has officially flung open its doors to vaccinated international travelers. For companies in the industry, that’s reason to cheer. What’s happening: Stocks in airlines have rallied this month in anticipation of the easing of restrictions, which investors hope will trigger a surge in bookings from people who
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By Jordan Valinsky, CNN Business Aaron Rodgers has been prominently featured in State Farm’s television ads for about a decade. This past weekend, he was almost nowhere to be found. The number of State Farm spots featuring the Green Bay Packers quarterback drastically decreased this weekend, following the revelation Rodgers is not vaccinated against Covid-19
Continue Reading By Jordan Valinsky, CNN Business Aaron Rodgers has been prominently featured in State Farm’s television ads for about a decade. This past weekend, he was almost nowhere to be found. The number of State Farm spots featuring the Green Bay Packers quarterback drastically decreased this weekend, following the revelation Rodgers is not vaccinated against Covid-19
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By Walé Azeez, CNN Business More than $30 billion was wiped off Tesla’s market value on Monday after millions of Elon Musk’s Twitter followers voted in favor of him selling 10% of his shares in the company. Tesla shares fell by about 3% in morning trading in New York, recovering slightly from a premarket drop
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By Diksha Madhok, CNN Business SoftBank is stuck in a “big winter snowstorm,” founder and CEO Masayoshi Son said Monday, after a sweeping tech crackdown in China battered some of the Japanese company’s key investments. SoftBank on Monday posted a loss of 397 billion yen ($3.5 billion) for the July-to-September quarter. Son said that the
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By Laura He, CNN Business The holiday shopping season is boosting China’s trade at a time when the country needs it most. But that doesn’t mean its economic woes are over just yet. Chinese exports surged 27% in October from a year earlier, according to customs statistics released by Chinese authorities on Sunday. That’s a
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By Brian Stelter, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. This weekend’s episode of “Saturday Night Live” was, in the words of one reviewer, an “instant classic,” which is something of a rarity, since critics love to lament that the
Continue Reading By Ramishah Maruf, CNN Business Infrastructure week is a “cheeky” slogan, but the real story is what the infrastructure funding in the “Build Back Better” bill will accomplish, CNN chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. And it’s the media’s responsibility to report the story, not just repeat catch-all slogans. Critical Race
Continue Reading By Ramishah Maruf, CNN Business Infrastructure week is a “cheeky” slogan, but the real story is what the infrastructure funding in the “Build Back Better” bill will accomplish, CNN chief media correspondent Brian Stelter said on “Reliable Sources” Sunday. And it’s the media’s responsibility to report the story, not just repeat catch-all slogans. Critical Race
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By Ramishah Maruf, CNN Business The Twitterverse has spoken. Elon Musk tweeted Saturday that he would let Twitter users decide if he should sell 10% of the 170.5 million shares he holds in Tesla, and 58% of the more than 3.5 million voters said “yes.” Musk, the company’s founder and CEO posted the poll Saturday
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By Ramishah Maruf, CNN Business Marvel’s “Eternals” opened with a $71 million domestic box office launch this weekend, Disney announced, making it the 4th highest opening of the pandemic despite less than favorable reviews from critics. The number comes close to “Shang-Chi’s” $75.3 million Labor Day weekend opening, but the next few weekends will give
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