By Samantha Murphy Kelly, CNN Business In 2015, the same year Apple introduced its smartwatch, a Kickstarter campaign launched for a very different kind of wearable device: a wellness-tracking gadget called the Oura Ring. Seven years later, the Apple Watch is the most popular wearable device while other similar products from Google and Samsung also
Continue Reading By Brian Fung, CNN For days, Twitter owner Elon Musk had teased a massive bombshell disclosure based on internal company documents that he claimed would reveal “what really happened” inside Twitter when it decided to temporarily suppress a 2020 New York Post story about Hunter Biden and his laptop. But on Friday, instead of releasing
Continue Reading By Christine Romans, CNN Chief Business Correspondent Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience. Yes, the economy is strong. But it comes with a lot of caveats.
Continue Reading By Danielle Wiener-Bronner, CNN Business ‘Tis the season to mix milk into your soda. According to Pepsi, anyway. Pepsi launched a campaign Thursday encouraging customers to try the combination and use the hashtag #PilkandCookies (as in Pepsi plus milk) to showcase their Santa-friendly concoctions. Those who participate in the online challenge running through Christmas Day
Continue Reading By Julia Horowitz, CNN Business The European Union has reached a consensus on the price at which to cap Russian oil just days before its ban on most imports comes into force. News of the deal, which had needed approval from holdout Poland, was confirmed on Twitter by the president of the European Commission, Ursula
Continue Reading By Oliver Darcy, CNN New Twitter owner Elon Musk declared last month that “hate speech impressions” had dramatically fallen on the platform since he took over. It was a remarkable claim, given that Musk has executed mass layoffs and chased away hundreds of employees, draining the company of much-needed resources to enforce content moderation policies,
Continue Reading By Anna Cooban and Xiaofei Xu, CNN Efforts to resolve a simmering dispute between Europe and the United States over electric vehicle subsidies stemming from President Joe Biden’s Inflation Reduction Act suffered a blow Friday when a top EU official pulled out of talks scheduled for Monday. Thierry Breton, the official responsible for the EU’s
Continue Reading By Samantha Beech, CNN Right-wing conspiracy theorist Alex Jones filed for personal Chapter 11 bankruptcy protection in a Texas court on Friday, according to court documents. In the documents, Jones estimates his assets to be worth between $1 to 10 million, and his liabilities to be between $1 to $10 billion. The Infowars host’s primary
Continue Reading By Nicole Goodkind, CNN Business The global economy is weakening and consumers are feeling financially stressed. Gas and heat prices are up significantly from last year and Federal Reserve Chair Jerome Powell indicated on Wednesday that painfully elevated interest rates will hang around for some time. It’s rough out there, but there is a silver
Continue Reading By Chris Isidore, CNN Business Most labor disputes never end up being debated in Congress. But thanks to a nearly century-old law that regulates labor relations only when it comes to railroads and airlines, what otherwise would be strictly an economic issue became a political one. The Railway Labor Act was passed in 1926 as
Continue Reading By Alicia Wallace, CNN Business The US economy added 263,000 jobs in November, defying aggressive action from the Federal Reserve to cool the economy and bring down decades-high inflation. The unemployment rate held steady at 3.7%, according to the Labor Department, which released the latest monthly jobs snapshot on Friday morning. Economists surveyed by Refinitiv
Continue Reading By Juliana Liu and Diksha Madhok, CNN Business The crypto industry just can’t catch a break this year. Binance, the world’s biggest cryptocurrency exchange, is investigating a hacking incident that affected a number of crypto tokens Friday. According to its founder and CEO Changpeng Zhao, a private key, used to encrypt or decrypt data, had
Continue Reading By Laura He, CNN Business Protests this week across China show just how unpopular Beijing’s zero-Covid policy has become. Now, even as the country signals it may loosen pandemic controls, it faces another challenge: Local governments charged with conducting mass testing and enforcing quarantine are running short of cash and could be forced to cut
Continue Reading By Rob McLean, CNN Business Kanye West’s Twitter account was suspended early Friday morning after Elon Musk said it violated the platform’s rules on inciting violence. “I tried my best. Despite that, he again violated our rule against incitement to violence. Account will be suspended,” Musk tweeted in a reply. CNN could not confirm which
Continue Reading By Rob McLean, CNN Business Kanye West’s Twitter account was suspended early Friday morning after Elon Musk said it violated the platform’s rules on inciting violence. “I tried my best. Despite that, he again violated our rule against incitement to violence. Account will be suspended,” Musk tweeted in a reply. CNN could not confirm which
Continue Reading By Laura He, CNN Business Protests this week across China show just how unpopular Beijing’s zero-Covid policy has become. Now, even as the country signals it may loosen pandemic controls, it faces another challenge: Local governments charged with conducting mass testing and enforcing quarantine are running short of cash and could be forced to cut
Continue Reading By Peter Valdes-Dapena, CNN Business Tesla made the first deliveries of its Semi truck to customers Thursday evening, five years after the heavy-duty hauler was first unveiled. The event included two truck cabs decked out in the livery of Pepsi and Frito-Lay, PepsiCo’s snack foods subsidiary. The Tesla Semi was first shown as a prototype
Continue Reading By Oliver Darcy, CNN Business CNN on Thursday executed sweeping layoffs and implemented a series of changes that impacted multiple divisions across the news organization, including ending live programming on HLN, the company’s chief executive, Chris Licht, said in a memo to employees. “The changes we are making today are necessary and will make us
Continue Reading By Brian Fung, CNN The rapper formerly known as Kanye West will no longer be acquiring Parler, the alternative social media platform favored by conservatives including some far-right extremists, the company announced on Thursday. West has legally changed his name to Ye. The decision to abandon the deal was mutual, Parler tweeted. In a statement,
Continue Reading By Matt Egan, CNN Business Inflation is cooling. Consumers are still spending. And hiring is slowing — but not collapsing. That’s why Moody’s Analytics chief economist Mark Zandi is increasingly confident that the American economy will — narrowly — escape a recession. “It’s going to be a struggle. It’s going to feel uncomfortable. But I
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