By Brian Fung, CNN Apple and Google’s continued hosting of TikTok on their app stores, despite US national security concerns about the short-form video app, reflects the tech giants’ “gatekeeper” power and should be made part of any antitrust reviews the app stores may face, a member of the Federal Communications Commission wrote to the
Continue Reading By Brian Fung, CNN Apple and Google’s continued hosting of TikTok on their app stores, despite US national security concerns about the short-form video app, reflects the tech giants’ “gatekeeper” power and should be made part of any antitrust reviews the app stores may face, a member of the Federal Communications Commission wrote to the
Continue Reading By Samantha Murphy Kelly, CNN Business Imagine if Siri could write you a college essay, or Alexa could spit out a movie review in the style of Shakespeare. OpenAI last week opened up access to ChatGPT, an AI-powered chatbot that interacts with users in an eerily convincing and conversational way. Its ability to provide lengthy,
Continue Reading By Peter Valdes-Dapena, CNN Business Hertz will pay $168 million to settle 364 claims related to the company falsely reporting rental cars as stolen. These cases sometimes resulted in people being arrested and even imprisoned. One lawsuit involving dozens of such cases alleged systemic flaws in Hertz’s reporting of thefts, including not recording rental extensions,
Continue Reading By Matt Egan, CNN Business Republicans and Democrats are likely to clash next year over the debt ceiling, a fight that could rock financial markets, unnerve consumers and threaten the economy with the specter of a calamitous default. The looming debt limit battle in Washington could spark the most uncertainty since the 2011 brinksmanship that
Continue Reading By Nathaniel Meyersohn, CNN Business Self-checkout arrived in the late 1980s at supermarkets. A decade later, it began spreading to big-box chains and drug stores. Now, self-checkout, loved by some and hated by others, has entered discount clothing and department stores. Kohl’s is testing self-checkout stations at a handful of stores. H&M added them at
Continue Reading By Oliver Darcy, CNN Amy Robach and T.J. Holmes, co-hosts of ABC News’ “GMA 3,” have been taken off the air following the public disclosure of a romantic relationship, network President Kim Godwin announced to staffers on Monday morning, according to a person familiar with the matter. “I’m going to talk about something that has
Continue Reading By Jennifer Korn, CNN BlocPower, a Brooklyn-based clean energy company, is bringing eco-friendly, all-electric heating and cooling systems to older buildings in lower income communities, with the goal of reducing carbon footprints and energy bills. Backed by investors like Goldman Sachs’ Urban Investment Group and Microsoft’s Climate Innovation Fund, BlocPower brings all-electric smart technology to
Continue Reading By Jennifer Korn, CNN BlocPower, a Brooklyn-based clean energy company, is bringing eco-friendly, all-electric heating and cooling systems to older buildings in lower income communities, with the goal of reducing carbon footprints and energy bills. Backed by investors like Goldman Sachs’ Urban Investment Group and Microsoft’s Climate Innovation Fund, BlocPower brings all-electric smart technology to
Continue Reading By Julia Horowitz, CNN Business Most Russian crude oil exports to Europe are now banned, marking the boldest effort yet by the West to pile financial pressure on President Vladimir Putin as his brutal war in Ukraine enters its tenth month. The oil embargo, which was agreed upon in late May, took effect in the
Continue Reading By Nicole Goodkind, CNN Business The US economy gained 263,000 jobs in November, 63,000 above the consensus estimate. The larger surprise was that average hourly earnings rose by 0.55%, the fastest pace since January. The robust jobs market is good news for American workers, but concerning for the Federal Reserve and equity bulls alike. It
Continue Reading By Ramishah Maruf, CNN Don’t mess with Swifties. More than two dozen Taylor Swift fans are suing Ticketmaster parent Live Nation Entertainment, Inc. for “unlawful conduct” in the pop star’s chaotic tour sale, claiming the ticketing giant violated antitrust laws, among others. The lawsuit, filed in a California court on Friday, alleges Ticketmaster and its
Continue Reading By Hanna Ziady, CNN Business The United Kingdom faces a “lost decade” of growth if action isn’t taken to address slumping business investment and worker shortages, a leading business lobby group has warned. In a bleak economic forecast published on Monday, the Confederation of British Industry (CBI) said that three quarters of companies are struggling
Continue Reading By Juliana Liu, CNN Business Apple supplier Foxconn says it is “gradually” restoring production capacity at its sprawling campus in central China, which has been hit by Covid-19 restrictions and worker protests since October. The “epidemic situation” at the facility, known as iPhone City and normally home to hundreds of thousands of workers, has been
Continue Reading By Julia Horowitz, CNN Business Indonesia produces more nickel than any other country. As demand soars for batteries to power the energy transition, that presents a huge opportunity, and the archipelago nation of 276 million people intends to take advantage of it. With the electric vehicle revolution driving up demand for key battery metals such
Continue Reading By Laura He, CNN Business Global traders are increasingly feeling more bullish on China, as they bet the country will gradually unwind Covid restrictions following widespread protests. Multiple cities across China loosened Covid-19 restrictions over the weekend. Starting Monday, Shanghai residents will no longer require a negative Covid test result to enter outdoor venues including
Continue Reading By Megan Thomas, CNN The runoff for Georgia’s remaining US Senate seat took the spotlight during the latest episode of “Saturday Night Live.” The show started with Republican senators meeting with Kenan Thompson as Herschel Walker to talk about Tuesday’s election. “Herschel, the midterms weren’t the red wave we were hoping for, but we think
Continue Reading By Paul R. La Monica, CNN Business The meltdown of FTX has sent the price of bitcoin and other cryptocurrencies tumbling more than 60% this year…and the carnage has spread to publicly traded companies with exposure to digital assets. Shares of Coinbase, Square-owner Block, top bitcoin miners Hive and Riot, crypto bank Silvergate and software
Continue Reading By Parija Kavilanz, CNN Business There’s at least one group of shoppers excitedly hitting malls this holiday season — and they don’t seem to be too bothered about pesky inflation eating into their discretionary dollars. They’re Gen Z. And the way they shop matters. This cohort of consumers born between 1997 and 2012 is among
Continue Reading By Ramishah Maruf, CNN Twitter owner Elon Musk spoke out on Saturday evening about the so-called “Twitter Files,” a long tweet thread posted by journalist Matt Taibbi, who had been provided with details about behind-the-scenes discussions on Twitter’s content moderation decision-making, including the call to suppress a 2020 New York Post story about Hunter Biden
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