By Chris Liakos, CNN Business European brewers Heineken and Carlsberg said Monday they will exit the Russian market following reviews of their operations triggered by the invasion of Ukraine. Denmark’s Carlsberg, which has 8,400 employees in Russia, said it was seeking a “full disposal” of its business but would maintain operations at a reduced level
Continue Reading
By Nathan Hodge, CNN Business Ukrainian President Volodymyr Zelensky has accused Moscow of being “frightened” by journalists “who can tell the truth” after the Kremlin attempted to prevent Russians seeing an interview he gave about the war in Ukraine. Moscow’s media watchdog Roskomnadzor issued a statement Sunday warning Russian news outlets against rebroadcasting or distributing
Continue Reading By Nathan Hodge, CNN Business Ukrainian President Volodymyr Zelensky has accused Moscow of being “frightened” by journalists “who can tell the truth” after the Kremlin attempted to prevent Russians seeing an interview he gave about the war in Ukraine. Moscow’s media watchdog Roskomnadzor issued a statement Sunday warning Russian news outlets against rebroadcasting or distributing
Continue Reading
By Ramishah Maruf, CNN Russia’s independent news network, TV Rain, shuttered its Moscow operations in early March — its newsroom empty, broadcast signal shut off. The decision followed the draconian “Fake News” law the Kremlin enacted, effectively making it a crime to report the truth about the war in Ukraine. But the husband-and-wife team behind
Continue Reading By Ramishah Maruf, CNN Russia’s independent news network, TV Rain, shuttered its Moscow operations in early March — its newsroom empty, broadcast signal shut off. The decision followed the draconian “Fake News” law the Kremlin enacted, effectively making it a crime to report the truth about the war in Ukraine. But the husband-and-wife team behind
Continue Reading
By Frank Pallotta, CNN Business The Academy Awards ceremony is Hollywood’s biggest night, and for decades, it was one of the most watched television events each year. Not anymore. Last year the broadcast experienced record low ratings, bringing in a mere 9.8 million viewers. Just eight years ago, the Oscars nabbed more than 40 million
Continue Reading
By Chris Isidore, CNN Business Another Boeing plane has been grounded after a fatal crash, this time in China. That may be the least of the company’s problems in a crucial market. The decision to ground the Boeing model 737-800 was made by China Eastern Airlines, which operated the jet that crashed March 21, killing
Continue Reading
Opinion by Bill Carter for CNN Business Perspectives At some point during the Academy Awards ceremony Sunday night, someone will undoubtedly shower praise on the nominated films as superb additions to the art of movie-making. But more importantly, someone — probably a lot of someones, including hosts, presenters and winners — will also confront the
Continue Reading
By Paul R. La Monica, CNN Business The Federal Reserve has already raised interest rates once this year and is likely to keep hiking them for the rest of 2022. Investors have largely brushed off worries about higher rates, with the hope that the increases will ease inflation pressures without slowing down the economy too
Continue Reading
By Lucy Bayly, CNN Business The bond market is flashing a warning sign that has correctly predicted almost every recession over the past 60 years: a potential inversion of the US Treasury note yield curve. An inverted yield curve is often seen as a signal that investors are more nervous about the immediate future than
Continue Reading
By Nicole Goodkind, CNN Business Former Federal Reserve head Alan Greenspan has a keen interest in men’s underwear. Not because he’s preoccupied with the evolving fashions of nether garments — rather, he sees underwear sales as a key economic predictor. Sounds weird, right? But it’s just one of the many strange ways experts try to
Continue Reading
By Nathaniel Meyersohn, CNN Business Saving money can take a little extra effort: clipping coupons, searching for a promotional code, signing up for an email list…. But Amazon sometimes makes us check a box to save. Huh? Those orange “coupon” banners below the price on Amazon’s online store are a head-scratcher. Why does Amazon make
Continue Reading
By Frank Pallotta, CNN Business Netflix has accomplished a lot in Hollywood: It’s partnered with notable filmmakers, produced buzzy hit films and launched the streaming craze that revolutionized the industry. Yet there’s one coveted Tinseltown accolade Netflix hasn’t received: the Academy Award for best picture. That could change this weekend. Netflix’s film “The Power of
Continue Reading
By Rishi Iyengar, CNN Business On March 14, the same day Russia banned Instagram, Russian tech entrepreneur Alexander Zobov announced he would soon launch a local version of the popular photo and video sharing app called Rossgram. Zobov and his team “were already prepared for this outcome of events in advance and decided not to
Continue Reading
By Clare Duffy, CNN Business TikTok has been hit with another lawsuit from former content moderators who claim the job traumatized them. Ashley Velez and Reece Young, former contract content moderators for TikTok, allege that their work involved reviewing “unfiltered, disgusting and offensive content,” including “child sexual abuse, rape, torture, bestiality, beheadings, suicide, and murder,”
Continue Reading
By Oliver Darcy, CNN Business A judge in Washington D.C. on Thursday dismissed a high-profile case filed by a Washington Post politics reporter who alleged that the newspaper and its former top editor subjected her to unlawful discrimination after she publicly said that she had been the victim of sexual assault. The reporter, Felicia Sonmez,
Continue Reading
By Matt Egan, CNN Business Inflation is so hot that Wall Street banks are falling over each other to predict the dramatic moves the Federal Reserve will have to make to cool prices off. Goldman Sachs raised eyebrows earlier this week by forecasting the Fed will raise interest rates by a half a percentage point
Continue Reading
By Sara Ashley O’Brien, CNN Business Instacart’s valuation doubled twice to $39 billion in the first year of the public health crisis, fueled by a pandemic boon to its on-demand grocery delivery business. Now it’s falling back to earth. On Thursday, the decade-old, privately-held startup informed its 3,000 corporate employees that it is revising its
Continue Reading
By Brian Fung, CNN European officials have reached agreement on a sweeping set of competition rules for Big Tech that could mark a global turning point for technology regulation. The proposed framework, known as the Digital Markets Act, could label large companies such as Facebook-parent Meta or Google as “gatekeepers,” and subject them to new
Continue Reading
By Brian Fung, CNN The White House has hammered out a new agreement with the EU that could again allow businesses to transfer data and personal information across the Atlantic, a highly-anticipated move that could provide assurance to thousands of companies after Europe’s top court struck down the deal’s predecessor in 2020. In joint remarks
Continue Reading