By Laura He, CNN Business Chinese authorities are ramping up a crackdown on crypto mining, calling it an “extremely harmful” practice that threatens to jeopardize the country’s efforts to reduce carbon emissions. The National Development and Reform Commission spokesperson Meng Wei blasted bitcoin mining during a press conference Tuesday in Beijing. She said that activity
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By Pauline Lockwood, Bex Wright and Cape Diamond, CNN American journalist Danny Fenster has been freed from prison in Myanmar, according to a Myanmar military official and former New Mexico governor Bill Richardson, who had been on a private humanitarian visit to the country. Fenster’s release comes just days after the former managing editor of
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By Michelle Toh, CNN Business Google is making its largest-ever investment in Australia, after a clash with the government that saw the tech giant threaten to shut down search there earlier this year. CEO Sundar Pichai announced Monday that the company would devote 1 billion Australian dollars (about $736 million) to the country over the
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By Chris Isidore, CNN Business Unionized film production workers have narrowly agreed to new contracts, removing the threat of a strike that could have brought production to a halt nationwide. The deals cover technicians, artisans and craftspeople who perform a wide variety of non-acting and non-directing jobs for feature films, television shows and streaming programs.
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By Clare Duffy, CNN Business Ohio Attorney General Dave Yost on Monday announced that he is suing Meta, the social media giant formerly known as Facebook, based on revelations from whistleblower Frances Haugen and the trove of internal company documents she leaked. The securities lawsuit, filed on behalf of the Ohio Public Employees Retirement System
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By Frank Pallotta, CNN Business Adele had a big night. The singer’s new special, “Adele: One Night Only” notched roughly 10 million viewers for CBS on Sunday. The network said it was the most-watched entertainment special since the Oscars seven months ago. In fact, Adele slightly beat the Oscars, which nabbed a record-low 9.8 million
Continue Reading By Frank Pallotta, CNN Business Adele had a big night. The singer’s new special, “Adele: One Night Only” notched roughly 10 million viewers for CBS on Sunday. The network said it was the most-watched entertainment special since the Oscars seven months ago. In fact, Adele slightly beat the Oscars, which nabbed a record-low 9.8 million
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By Sarah Jorgensen, CNN Business Sandy Hook families suing InfoWars founder Alex Jones have won a case against him after a judge ruled against Jones who has failed to comply with the discovery process. Jones and entities owned by him were found liable by default Monday in a defamation case against them. Connecticut Superior Court
Continue Reading By Sarah Jorgensen, CNN Business Sandy Hook families suing InfoWars founder Alex Jones have won a case against him after a judge ruled against Jones who has failed to comply with the discovery process. Jones and entities owned by him were found liable by default Monday in a defamation case against them. Connecticut Superior Court
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By Julia Horowitz, CNN Business Managing America’s relationship with its biggest economic frenemy is one of US President Joe Biden’s toughest challenges. So when he holds a virtual summit with President Xi Jinping later on Monday, issues like supply chains, subsidies and tariffs, a pullback in China’s vast property sector and the global energy crunch
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By Paul R. La Monica, CNN Business Many companies and investors need to learn a crucial lesson: Becoming a market leader is easy, but staying one for a prolonged period of time? Not so much. Success brings about imitators. And competition can quickly eat into sales, market share and profits. Just look at the lousy
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By Matt Egan, CNN Business The economic recovery from Covid-19 will reaccelerate in the coming quarters, driving the unemployment rate back to a 50-year low by the end of next year, Goldman Sachs told clients on Sunday. After slowing this summer, the US economy will get a boost from the reopening of the service sector,
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By Reuters JPMorgan Chase on Monday sued Tesla for $162.2 million, accusing Elon Musk’s electric car company of “flagrantly” breaching a contract related to stock warrants after its share price soared. According to the complaint filed in Manhattan federal court, Tesla in 2014 sold warrants to JPMorgan that would pay off if their “strike price”
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By Brian Stelter, CNN Business “Information disorder is a crisis that exacerbates all other crises. When bad information becomes as prevalent, persuasive, and persistent as good information, it creates a chain reaction of harm.” That’s how the Aspen Institute’s Commission on Information Disorder begins its sweeping new report on the subject. Sixteen commissioners spent the
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By Jeanne Sahadi, CNN Business You would think the combination of high inflation, a worker shortage and a talent war would be a winning trifecta for any employee who would like to take home a bigger paycheck next year. And many companies are also reporting strong earnings, if not record ones. “Employees are saying, ‘I’ve
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By Matt McFarland, CNN Business The indoor cycling craze has come for America’s kids, and child development experts aren’t happy. Little Tikes, the children’s toymaker, watched sales of Peloton’s stationary bikes soar last year when the pandemic hit. It saw a chance to create something for children to enjoy alongside their parents, according to Little
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By Samantha Murphy Kelly, CNN Business The global chip shortage is making it harder for shoppers to get their hands on some of the most sought after tech gadgets of the holiday season. In the six weeks leading up to Christmas, some of Apple’s biggest new products — including certain iPhone 13 models, some newer
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By Matt Egan, CNN Business Ahead of President Joe Biden’s virtual meeting with Chinese President Xi Jinping, two dozen business groups are calling on the Biden administration to work toward removing tariffs on China to help ease historic inflation. In a letter to Biden officials sent on Friday, the business groups warned tariffs on China
Continue Reading By Pauline Lockwood, Bex Wright and Cape Diamond, CNN American journalist Danny Fenster has been freed from prison in Myanmar, according to a Myanmar military official and former New Mexico governor Bill Richardson, who had been on a private humanitarian visit to the country. Fenster’s release comes just days after the former managing editor of
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By Jordan Valinsky, CNN Business Casper Sleep, the trendy mattress-in-a-box company, is being taken private barely two years after its splashy public debut. The company announced Monday that private equity firm Durational Capital Management is buying Casper at $6.90 per share — a 94% premium on Friday’s closing price of $3.55 per share. The stock
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