By Julia Horowitz, CNN Business The company behind Grand Theft Auto is ponying up a lot of money to buy Zynga, the mobile game developer best known for hits like FarmVille and Words With Friends. What’s happening: Take-Two Interactive announced a cash-and-stock deal valued at $12.7 billion on Monday — the biggest gaming deal on
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By Charles Riley, CNN Business Many business leaders, politicians and academics are overwhelmingly pessimistic about the threat Covid-19 still poses even as the pandemic enters its third year. They worry that an uneven economic recovery could deepen divisions within societies and between countries. More than 84% of global experts surveyed by the World Economic Forum
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By Lianne Kolirin, CNN Business A British energy supplier has apologized for the “poorly judged and unhelpful” advice sent to customers which suggested they could snuggle up to their pets and exercise to cut back on their heating bills. SSE, which is owned by OVO Energy, suggested 10 “simple and cost effective ways to keep
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By Matt Egan, CNN Business Former President Donald Trump is plotting a return to Wall Street with a new media company taking aim at Big Tech. But Trump Media & Technology Group’s path to the stock market faces a formidable obstacle: President Joe Biden’s regulators. Biden’s top cop on Wall Street, SEC Chairman Gary Gensler,
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By Laura He, CNN Business China’s real estate sector is having a rocky start in 2022, as some of the country’s most high-profile developers struggle to shake off a crisis that has been growing for months. This week, two major credit rating agencies downgraded Shanghai-based developer Shimao Group further into junk territory. The company has
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By Michelle Toh, CNN Business A cryptocurrency CEO has become one of the richest people on Earth. Changpeng “CZ” Zhao, who runs the crypto exchange Binance, has joined the ranks of the world’s top billionaires, with an estimated net worth of at least $96 billion, according to new calculations from the Bloomberg Billionaires Index published
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By Peter Valdes-Dapena, CNN Business Americans may be feeling uneasy about the economy, but if sales of ultra-luxury cars are any indication, the super rich are doing just fine. Both Rolls-Royce and Bentley posted record sales in 2021. Last year, Rolls-Royce delivered 5,586 cars around the world, the most cars Rolls-Royce has ever sold in
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By Matt Egan Federal Reserve Chairman Jerome Powell is pledging not to allow inflation to become ingrained in the American economy, according to prepared remarks released on Monday. “We know that high inflation exacts a toll, particularly for those less able to meet the higher costs of essentials like food, housing and transportation,” Powell said
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By Clare Duffy, CNN Business A judge has ordered Google to turn over hundreds of internal documents — many related to its efforts to quash an employee union — as part of a National Labor Relations Board case over the tech giant’s firing of former employees. In 2019, a group of workers who had recently
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By Paul R. La Monica, CNN Business For some time, many investing experts have been predicting there will be a shift away from big tech towards value stocks. It might finally be happening — although tech stocks may not go down without a fight. The broader market fell Monday: The Dow dropped by about 163
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By Jackie Wattles, CNN Business If 2021 was the year of ostentatious displays of wealthy space tourists chartering one-off missions, 2022 promises to be yet another year solidifying the private sector’s grip on modern space travel. Big businesses are beginning to permeate every area of spaceflight, from the most spectacular private launches to the smallest
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By Paul Vercammen and Faith Karimi, CNN Robert Durst, the eccentric millionaire who fascinated viewers as the subject of HBO’s documentary series “The Jinx” before being convicted last year of murder, has died in a California prison hospital, according to his longtime attorney Dick DeGuerin. He was 78. Durst, who had been housed at the
Continue Reading By Paul Vercammen and Faith Karimi, CNN Robert Durst, the eccentric millionaire who fascinated viewers as the subject of HBO’s documentary series “The Jinx” before being convicted last year of murder, has died in a California prison hospital, according to his longtime attorney Dick DeGuerin. He was 78. Durst, who had been housed at the
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By Oliver Darcy, CNN Business Jesse Watters, the right-wing talk show host who throughout his career has courted controversy with incendiary commentary, will be Fox’s new 7 p.m. host, the network announced on Monday. The installment of the flame-thrower Watters into the key time slot cements a strategy Fox initiated soon after President Donald Trump
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By Jeanne Sahadi, CNN Business The IRS said Monday it would start accepting 2021 federal tax returns on Monday, January 24. The tax filing deadline this year is Monday, April 18. That’s the day by which you must have filed your 2021 individual return and paid any remaining federal income taxes owed for last year.
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By Allison Morrow, CNN Business President Joe Biden and other politicians will tell you inflation is Corporate America’s fault. Corporate America blames the administration’s pandemic assistance programs for putting too much cash into the economy. The reality, economists say, is that it’s all of those things. And more. Whichever of the two main inflation gauges
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By Rachel Metz, CNN Business Last summer, Allen Roach saw something that really disturbed him: His then-11-year-old son, Peyton, used a sword to slice off the arms and legs of characters in a virtual reality medieval fantasy game, Blade & Sorcery, then threw the dismembered digital bodies off a bridge. Sure, it all happened in
Continue Reading By Paul R. La Monica, CNN Business For some time, many investing experts have been predicting there will be a shift away from big tech towards value stocks. It might finally be happening — although tech stocks may not go down without a fight. The broader market fell Monday: The Dow dropped by about 163
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By Matt Egan, CNN Business The Federal Reserve is likely to raise interest rates four times this year in response to high inflation and low unemployment, Goldman Sachs advised clients on Sunday evening. Rate hikes from the Fed will raise the cost of borrowing, on everything from mortgages and car loans to credit cards. The
Continue Reading By Peter Valdes-Dapena, CNN Business Americans may be feeling uneasy about the economy, but if sales of ultra-luxury cars are any indication, the super rich are doing just fine. Both Rolls-Royce and Bentley posted record sales in 2021. Last year, Rolls-Royce delivered 5,586 cars around the world, the most cars Rolls-Royce has ever sold in
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