By Parija Kavilanz, CNN Business Trendy eyewear brand Warby Parker is the latest in a string of retailers struggling to stay the course as a wobbly economy forces households to pare back and rethink their discretionary buying. Warby Parker, which pioneered the direct-to-consumer model for stylish eyewear under $100, announced job cuts to its staff
Continue Reading By Paul R. La Monica, CNN Business Is the crypto winter finally over? (And in the scorching heat of summer no less?) Bitcoin prices have stabilized around the $23,000 to $24,000 level after plunging below $20,000 in June. The prices of ethereum and other leading digital currencies have also rallied in the past two months,
Continue Reading By Laura He, CNN Business US gaming software developer Unity is partnering with some of the biggest names in China tech to establish a billion-dollar joint venture aimed at growing its business in the world’s largest market for online games. The venture will “unlock new opportunities” to enhance cooperation with local companies and increase its
Continue Reading By Chris Isidore, CNN Business Tesla CEO Elon Musk sold 7.9 million shares of Tesla in recent days, raising $6.9 billion with the sales. The sales from Friday through Tuesday were disclosed in a series of filings with the Securities and Exchange Commission late Tuesday night. They mark the first sale of Tesla shares by
Continue Reading By Oliver Darcy, CNN Business A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Fox News largely refrains from criticizing Donald Trump. But, in private, Lachlan Murdoch has denounced some of the former President’s behavior in harsh terms. In private this year, the Fox
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The Boone County Sheriff’s Office is warning about the latest phone scam where scammers are posing as a deputy and attempting to steal the victim’s money.
Continue Reading By Peter Valdes-Dapena, CNN Business Ford on Thursday will once again begin taking orders for its popular F-150 Lightning electric pickup truck. But this time the base model of the pickup will cost about $7,000 more than before. When the Lightning first went on sale, the Pro version — the base model intended mostly as
Continue Reading By Rishi Iyengar, CNN Business The technological arms race between the United States and China has cut across everything from smartphones and cellular equipment to social media and artificial intelligence. But a new battleground is emerging that goes a layer deeper: to the components that power our smartphones, computers, automobiles and home appliances. President Joe
Continue Reading By Rishi Iyengar, CNN Business The technological arms race between the United States and China has cut across everything from smartphones and cellular equipment to social media and artificial intelligence. But a new battleground is emerging that goes a layer deeper: to the components that power our smartphones, computers, automobiles and home appliances. President Joe
Continue Reading By Clare Duffy, CNN Business Kaicheng Yang, a researcher at Indiana University’s Observatory on Social Media, received quite the surprise last week. Botometer, a tool he helped build to examine automated activity on Twitter, had been mentioned in court documents in the legal battle between Twitter and Elon Musk over their $44 billion acquisition deal.
Continue Reading By Samantha Murphy Kelly, CNN Business Snapchat on Tuesday introduced its first parental control center, nearly 10 months after an executive from the company told Congress it was developing tools aimed at helping parents keep their teens safe. The new tool, called Family Center, promises to give parents more insight into who their teenagers are
Continue Reading By Paul R. La Monica, CNN Business Crypto brokerage Coinbase has been hit hard by the meltdown in bitcoin prices this year. The stock has plunged 65% so far in 2022. And the company’s latest earnings, due out after the closing bell Tuesday, are likely to be miserable. Wall Street is forecasting a more than
Continue Reading Opinion by Sarah Anderson and Rebekah Entralgo for CNN Business Perspectives Imagine if America’s ultra-wealthy invested the financial gains they made during the pandemic in affordable housing, child care centers or any of our country’s other urgent human needs. As of May, US billionaires had seen their wealth rise by more than $1.7 trillion —
Continue Reading By Oliver Darcy, CNN Business Fox News viewers will this week see former Vice President Dick Cheney look into the camera and excoriate former President Donald Trump as the greatest threat to the country “in our nation’s 246-year history.” That’s because Rep. Liz Cheney’s campaign has purchased a series of national ad spots on Fox
Continue Reading By Anna Cooban, CNN Business Nearly one third of households in the United Kingdom will face poverty this winter after paying energy bills that are set to soar again in January, campaigners say. About 10.5 million households will be in fuel poverty for the first three months of next year, according to estimates from the
Continue Reading By Matt Egan, CNN Business The world of online shopping was long immune to inflation until Covid-19 turned everything upside down. E-commerce prices began rising in June 2020, beginning an unprecedented stretch of 25 consecutive months of increases that underscored the severe price pressures hitting the US economy. That streak has finally ended. Online prices
Continue Reading By Julia Horowitz, CNN Business The most powerful business lobby in the United States is not a fan of the landmark heath care and climate package President Joe Biden is expected to shortly sign into law. “Business Roundtable opposes the ‘Inflation Reduction Act,’ which, among other things, includes tax provisions that would undermine American economic
Continue Reading Martha C. White for CNN Business With lower gas prices effectively putting more money back in their pockets, Americans continued to spend last month. But persistent inflation has reshaped their shopping habits. In July, US retail sales were flat compared to the previous month, the Census Bureau reported Wednesday. That marks a slowdown from June,
Continue Reading By Matt Egan, CNN Business The world of online shopping was long immune to inflation until Covid-19 turned everything upside down. E-commerce prices began rising in June 2020, beginning an unprecedented stretch of 25 consecutive months of increases that underscored the severe price pressures hitting the US economy. That streak has finally ended. Online prices
Continue Reading By Nicole Goodkind, CNN Business It’s August, and that means pretty much all of Wall Street is on vacation right now. The Fed has locked its doors and said, “See you in September.” And politicos are island hopping: VP Kamala Harris made a fundraising appearance on the Vineyard this week alongside the Obamas. Turns out
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