By Brian Fung, CNN A threat by Facebook owner Meta to remove news content from its platforms appears to have been averted — for now — after US lawmakers omitted an antitrust bill it opposed from the text of an annual defense spending bill released late Tuesday evening. Meta had warned on Monday that if
Continue Reading By Danielle Wiener-Bronner, CNN Business Coca-Cola is hoping that this holiday season, families will crack open some Cokes, settle into a comfy spot and watch its first Christmas Anthology film series. The beverage company partnered with production firm Imagine Entertainment to create three short films, which are available to watch on Amazon Prime across the
Continue Reading By Peter Valdes-Dapena, CNN Business General Motors is moving ahead with plans to install as many as 40,000 electric vehicle chargers in, mostly, rural parts of America. This comes as GM plans to sell exclusively zero-emission passenger vehicles by 2035. These will not be so-called “Level 3” fast chargers — the sort that can charge
Continue Reading By Nicole Goodkind, CNN Business Nothing lasts forever, not even a good CEO. It’s been a nasty year for Fortune 500 companies and top executives are paying for it: CEOs are exiting in droves. But as the global economy sits on the brink of a possible recession, a new troubling pattern is emerging: In many
Continue Reading By Catherine Thorbecke, CNN Business Ramesh “Sunny” Balwani, the former chief operating officer of failed blood testing startup Theranos, was sentenced Wednesday to nearly 13 years in prison for fraud. It marks an end to the stunning downfall of a high-flying Silicon Valley company that resulted in the rare convictions of two tech executives. “There is an unfortunate saying
Continue Reading By Chris Isidore, CNN Business After 53 years and more than 1,570 planes, the last Boeing 747 rolled off the assembly line in Washington state Tuesday evening, on its way to serve as a cargo plane. The once-groundbreaking jumbo jet, with the distinctive second-floor bulge, is perhaps the most notable and popular plane Boeing has
Continue Reading By Hanna Ziady, CNN Business Britain has agreed a new energy partnership with the United States that aims to end its reliance on Russia and lower soaring energy costs. UK Prime Minister Rishi Sunak announced the partnership in a statement on Wednesday. He said the aim was to double the amount of liquified natural gas
Continue Reading By Oliver Darcy, CNN Business The New York Times is preparing for more than 1,100 of its union staffers to go on strike for a full day Thursday — an act of protest that has not been staged by employees at the paper of record since the late 1970s. The historic work stoppage is set
Continue Reading By Rob McLean, CNN Business E-cigarette maker Juul Labs said Tuesday that it has settled litigation it faced in the United States, resolving a substantial amount of legal issues for the company. “The global resolution covers more than 5,000 cases brought by approximately 10,000 plaintiffs against Juul Labs and its officers and directors,” the company
Continue Reading By Allison Morrow, CNN Business The world’s leading producer of advanced computer chips, Taiwan Semiconductor Manufacturing Company, announced an expanded $40 billion investment in its US production hub in Phoenix. President Joe Biden visited the manufacturer’s site in Phoenix and spoke about bringing jobs and investment to Arizona, calling TSMC’s commitment “the largest foreign investment
Continue Reading By Allison Morrow, CNN Business The world’s leading producer of advanced computer chips, Taiwan Semiconductor Manufacturing Company, announced an expanded $40 billion investment in its US production hub in Phoenix. President Joe Biden visited the manufacturer’s site in Phoenix and spoke about bringing jobs and investment to Arizona, calling TSMC’s commitment “the largest foreign investment
Continue Reading By David Goldman, CNN Business Congress wants answers from the CEO of Ticketmaster’s parent company after a ticketing snafu ahead of Taylor Swift’s Eras tour left millions of unhappy Swifties without the ability to see the singer-songwriter perform. In a letter addressed to Live Nation CEO Michael Rapino Tuesday, the House Energy and Commerce Committee
Continue Reading By Chris Isidore, CNN Business After 53 years and more than 1,570 planes, the last Boeing 747 rolled off the assembly line in Washington state Tuesday evening, on its way to serve as a cargo plane. The once-groundbreaking jumbo jet, with the distinctive second-floor bulge, is perhaps the most notable and popular plane Boeing has
Continue Reading By Samantha Murphy Kelly, CNN Business If you were worried about how much money you could blow on apps before, buckle up. Apple on Tuesday said it is adding 700 new price points for apps in its App Store, starting as low as $0.29 and running all the way up to $10,000, though the very
Continue Reading By Paul R. La Monica, CNN Business Some top CEOs appear to be worried that the economy could be the Grinch that steals Christmas this year. And investors are not pleased. Stocks sank Tuesday, the second straight day of losses on Wall Street. The Dow fell more than 350 points, or 1.3%. That follows a
Continue Reading By Matt Egan, CNN Business Oil prices have tumbled to their lowest level of the year as worries about the health of the economy overshadow concerns about new restrictions imposed on Russian energy. The sharp drop in oil prices the past two days is mostly good news for consumers, signaling prices at the gas pump
Continue Reading By Samantha Murphy Kelly, CNN Business Apple has been sued by two women who allege their previous romantic partners used the company’s AirTag devices to track their whereabouts, potentially putting their safety at risk. The proposed class action lawsuit was filed in federal court in San Francisco on Monday on behalf of one woman from
Continue Reading By Oliver Darcy, CNN BuzzFeed on Tuesday said it would lay off approximately 12% of its staff, making the digital news and entertainment conglomerate the latest media company to make painful cuts amid a deteriorating economic climate. In a note to impacted employees, Jonah Peretti, the company’s founder and chief executive, blamed the cuts on
Continue Reading By Paul R. La Monica, CNN Business It’s time to sing a requiem for a meme. Meme stocks, that is. Companies that attracted rabid followings from traders on Reddit and other social media sites in 2021 are struggling. Just look at GameStop. Shares of the video game retailer, which will report its latest results after
Continue Reading By Nathaniel Meyersohn, CNN Business Finally, shoppers are getting some good news about prices: Inflation is falling on discretionary merchandise just in time for the holidays, Walmart chief Doug McMillon said Tuesday. “In toys, sporting goods, apparel, categories like that, prices have come down more aggressively,” McMillon said in an interview on CNBC. “We’re still
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