By Catherine Thorbecke, CNN Amazon says it plans to lay off more than 18,000 employees as the global economic outlook continues to worsen. Several teams will be affected, including the human resources department and Amazon Stores, according to a memo from CEO Andy Jassy shared with employees. “Companies that last a long time go through
Continue Reading By Clare Duffy, CNN Elon Musk’s team has subpoenaed the head of Saudi Arabia’s Public Investment Fund as part of litigation over the Tesla CEO’s 2018 tweet that he was considering taking the car company private and had secured funding to do so. Tesla shareholders sued Musk in 2018, alleging that he did not, in
Continue Reading By Jennifer Korn, CNN Hang onto your baby bonnets: Self-driving technology is coming to strollers. Canadian-based baby gear startup Gluxkind was showing off its Ella AI Powered Smart Stroller at this year’s CES, the consumer electronics show in Las Vegas that offers some of the most cutting edge — and out-there — new technologies. The
Continue Reading By Nicole Goodkind, CNN Business Former Federal Reserve Chairman Alan Greenspan believes a US recession is the “most likely outcome” of the Fed’s aggressive rate hike regime meant to curb inflation. He joins a growing chorus of economists predicting imminent economic downturn. His views are particularly important. Not only did Greenspan serve five terms as
Continue Reading By Anna Bahney, CNN It is almost as if the wild turns in the Manhattan real estate market during the pandemic didn’t happen. Almost. The frenzy to buy apartments in Manhattan took off in 2021 as the city bounced back from the worst of the pandemic. But it nosedived at the end of 2022, with
Continue Reading By Nathaniel Meyersohn, CNN Skip Bayless spent a third straight day defending his controversial tweet about Buffalo Bills safety Damar Hamlin, this time during a tense exchange Wednesday with his Fox Sports talk show co-host Shannon Sharpe. Sharpe, a former NFL player and member of the NFL Hall of Fame, returned to the duo’s talk
Continue Reading By Nathaniel Meyersohn, CNN Skip Bayless spent a third straight day defending his controversial tweet about Buffalo Bills safety Damar Hamlin, this time during a tense exchange Wednesday with his Fox Sports talk show co-host Shannon Sharpe. Sharpe, a former NFL player and member of the NFL Hall of Fame, returned to the duo’s talk
Continue Reading By Samantha Murphy Kelly, CNN Business Apple is raising the price of battery replacements for all out-of-warranty iPhone models prior to the current iPhone 14 lineup, the company confirmed on its website. Starting March 1, Apple will charge $89 for battery replacements for iPhone X through iPhone 13 models, a $20 increase from the current
Continue Reading By Oliver Darcy, CNN ESPN is sticking by its reporting that the NFL had initially planned to resume Monday’s football game after Buffalo Bills safety Damar Hamlin suffered cardiac arrest and collapsed on the field — a claim the NFL vehemently denies. The NFL postponed Monday’s game between the Bills and the Cincinnati Bengals following
Continue Reading By Chris Isidore, CNN The NFL’s decision not to resume or replay Monday’s Bills-Bengals game, which was halted after Buffalo safety Damar Hamlin suffered cardiac arrest, won’t be particularly costly the world’s richest sports league. After the league announced late Thursday that the game will not be completed, the home-team Cincinnati Bengals notified fans who
Continue Reading By Chris Isidore, CNN One year after losing the title it held for nearly a century as the top car seller in America, General Motors is back on top. GM reported Wednesday US sales of 2.3 million vehicles. Strong fourth quarter sales, up 41% from a year ago, allowed it to end the year with
Continue Reading By Jordan Valinsky, CNN James “Buster” Corley, co-founder of the popular restaurant and entertainment chain Dave & Buster’s, has died. He was 72. Dave & Busters said that Corley was an “innovative and creative force” in a statement confirming his death. “His pioneering spirit and steadfast belief that ‘everybody is somebody’ set the foundation for
Continue Reading By Samantha Murphy Kelly, CNN Business A new take on a foldable phone. A pricey toilet sensor that monitors hydration and vitamin levels. And an AI-powered oven. The Consumer Electronics Show, now in its 56th year, kicks off this week in Las Vegas with a familiar mix of cutting edge technology and oddball gadgets. The
Continue Reading By Allison Morrow, CNN Coinbase, one of the most popular US crypto-trading platforms, agreed to a $100 million settlement after New York regulators found “significant failures” to comply with the state’s anti-money-laundering laws. The settlement includes a $50 million penalty Coinbase must pay to the New York Department of Financial Services and a pledge to
Continue Reading By Alicia Wallace, CNN The number of available jobs in the United States totaled 10.46 million in November, according to data released Wednesday by the Department of Labor. That’s more than the 10 million total job openings that economists were expecting, according to Refinitiv, and slightly lower than the upwardly revised October total of 10.51
Continue Reading By Catherine Thorbecke, CNN Salesforce said Wednesday that it will cut approximately 10% of its workforce and reduce its real estate footprint, making it the latest tech company to slash expenses as broader economic uncertainty continues to hit Silicon Valley particularly hard. In a letter to employees announcing the job cuts, Marc Benioff, Salesforce’s chair
Continue Reading By Anna Cooban, CNN European stocks are pushing higher for the third straight day as investors cheer signs that inflation, supply chain bottlenecks and natural gas prices are all easing Europe’s Stoxx 600 index rose 1% in Wednesday trading, and is now up 3.3% since markets kicked off 2023 trading on Monday. Germany’s DAX rose
Continue Reading By Hanna Ziady, CNN Aldi recorded its highest-ever December sales in the United Kingdom, as shoppers squeezed by searing food price inflation flocked to the German discount supermarket chain to save money on groceries. Sales topped £1.4 billion ($1.7 billion) for the first time, up 26% year on year, with the FIFA World Cup also
Continue Reading By Paul R. La Monica, CNN Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. Most notable? Concerns about the increasingly chaotic geopolitical landscape. “Inflation shockwaves” still feature as one of Eurasia’s top political
Continue Reading By Paul R. La Monica, CNN Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. Most notable? Concerns about the increasingly chaotic geopolitical landscape. “Inflation shockwaves” still feature as one of Eurasia’s top political
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