By Lauren Kent and Anna Cooban, CNN Business The United Kingdom on Thursday confirmed plans to subsidize energy bills for households and businesses, joining other European governments in a costly race to protect their economies from freezing up this winter as Russia cuts off supplies of gas. The UK plan could cost as much as
Continue Reading By Anna Cooban, CNN Business The United Kingdom’s new prime minister is reportedly preparing to commit as much as £150 billion ($172 billion) to shield households and businesses from soaring energy bills, increasing government borrowing at a time when investors are already on edge about the country’s finances. Liz Truss, who earlier this week succeeded
Continue Reading By Matt Egan, CNN Business For many years after the Great Recession, the Federal Reserve did everything in its power to lower the unemployment rate. Now, the central bank is trying to do the exact opposite. David Rubenstein, the billionaire investor and co-founder of The Carlyle Group, told CNN last week the Fed is actively
Continue Reading By Matt Egan, CNN Business For many years after the Great Recession, the Federal Reserve did everything in its power to lower the unemployment rate. Now, the central bank is trying to do the exact opposite. David Rubenstein, the billionaire investor and co-founder of The Carlyle Group, told CNN last week the Fed is actively
Continue Reading By Jordan Valinsky, CNN Business Kim Kardashian is entering the world of private equity. She’s partnering with Jay Sammons, a former executive with Carlyle Group, to launch SKKY Partners, a new firm that will invest in fast-growing businesses across several sectors, including hospitality, media and consumer products. The fund hasn’t begun any raising money just
Continue Reading By Jordan Valinsky, CNN Business Serena Williams’ loss last week at the US Open, likely her final match, made history for ESPN. The roughly three-hour match averaged 4.8 million viewers, making it ESPN’s most-watched tennis match in its 43-year history. Ratings peaked during the match’s final set in the 10:15 pm quarter-hour, garnering 6.9 million
Continue Reading By Jordan Valinsky, CNN Business Serena Williams’ loss last week at the US Open, likely her final match, made history for ESPN. The roughly three-hour match averaged 4.8 million viewers, making it ESPN’s most-watched tennis match in its 43-year history. Ratings peaked during the match’s final set in the 10:15 pm quarter-hour, garnering 6.9 million
Continue Reading By Nicole Goodkind, CNN Business The world is in desperate need of water. Drought and increasing temperatures have threatened to impact nearly every major sector of the economy, from energy to agriculture to shipping. Markets are taking note. The S&P Global Water Index, which tracks 50 companies from around the world that are involved in
Continue Reading By Laura He, CNN Business China’s zero-Covid strategy of endless testing and lockdowns has hammered its economy and taken a toll on company profits, but it has delivered a windfall for test makers. Twelve of China’s top Covid testing firms have recently posted huge increases in both revenues and net profits for the first half
Continue Reading By Laura He, CNN Business China’s zero-Covid strategy of endless testings and lockdowns has hammered its economy and taken a toll on company profits, but it has delivered a windfall for test makers. Twelve of China’s top Covid testing firms have recently posted huge increases in both revenues and net profits for the first half
Continue Reading By Jackie Wattles, CNN Business NASA has two new dates in mind — September 23 or September 27 — for the next attempt at launching its massive new moon rocket on an uncrewed test mission. But there are still several things that could stand in the way of getting the Artemis I mission off the
Continue Reading By Jackie Wattles, CNN Business NASA’s massive new moon rocket hit another snag during its latest attempt to launch an uncrewed test mission, and it will be at least a few weeks — rather than days — before the rocket can make its next attempt. The longer delay can be attributed to several factors, including
Continue Reading By Donie O’Sullivan and Richa Naik, CNN Clara Sorrenti, a trans activist who was forced to flee her home in Canada after users of a hate-filled website targeted her, has succeeded in her campaign to get the site taken offline, for now. Sorrenti, better known by her online username “Keffals,” became the target of a
Continue Reading By Donie O’Sullivan and Richa Naik, CNN Clara Sorrenti, a trans activist who was forced to flee her home in Canada after users of a hate-filled website targeted her, has succeeded in her campaign to get the site taken offline, for now. Sorrenti, better known by her online username “Keffals,” became the target of a
Continue Reading By Rishi Iyengar, CNN Business Elizabeth Holmes, the founder of failed blood testing startup Theranos who was convicted of fraud earlier this year, is asking for a new trial after claiming that a key witness visited her house unannounced and allegedly said he “feels guilty” about his testimony. In a court filing on Tuesday with
Continue Reading By Alexandra Peers, CNN Business Herb Kohler, Jr., the former head of his family’s namesake global plumbing empire, died Saturday at the age of 83. He was the third generation Kohler to helm the Wisconsin company, serving as CEO for 43 years and later as its executive chairman. The emphasis of the Kohler brand during
Continue Reading By Paul R. La Monica, CNN Business Apple’s stock has been a lemon this year. Shares are down more than 10% so far in 2022, and Apple is trading about 15% below the all-time high it hit in early January. But with new iPhones set to be revealed Wednesday, will expectations for strong holiday sales
Continue Reading By Peter Valdes-Dapena, CNN Business California’s powerful Air Resources Board recently passed new regulations that essentially require all vehicles sold in the state to be electric, hydrogen-fueled or at least plug-in hybrid by the year 2035. What’s more, 17 other states have agreed to follow California’s lead, at least to some degree, in matters relating
Continue Reading By Julia Horowitz, CNN Business Liz Truss has a lot on her plate. The United Kingdom is heading for a recession. Workers are going on strike as inflation erodes their living standards. And millions of people and thousands of businesses need immediate relief from soaring energy bills to get through the winter. “This is a
Continue Reading By Catherine Thorbecke and Samantha Murphy Kelly, CNN Business Apple is expected to debut its iPhone 14 lineup at the company’s annual September keynote event on Wednesday. The product event, which has been teased with a “far out” tagline, will take place at Apple’s Cupertino, California, headquarters and will be livestreamed on Apple’s website and
Continue Reading